Monday, August 17, 2009

BSP COVERING UP ITS LOSS - letter to the POST COURIER

I am writing regarding the new fees that South Pacific Bank is charging.
I think it is awkward idea for the bank to collect those kind of fees.
Just imagine, bank charges 6.5 million people with two different charges over the counter and service fees.
The bank will earned overnight billions of kina every single day. My question is, is any certain regulatory that our bank can obligated to, and should the government oversee the consequences of those fees.
If it is very true, than our grassroots and middle class will be affected if these is not passed under banking law.
I am suspicions that BSP is trying to cover up its loss, greed, and failure in accounting.
Our people should know better, this kind of behaviour is showing bank is trying to make up of the loss. In the business world when you making a loss you have to find the way to recover those loss.
The banking system is doing the same thing to get peoples’ money. The banks are not warehouse or supermarkets to put special sales to cover up the differences, so, what they trying to do to our people is manipulating the entire concept by using different terms to cover up their loss.

Concerned Grassroot,
Kunai-George

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