Does anyone remember the old days in BC (Before Computers)?
My first account at Standard bank in 1979 was a savings account. I had a "savings book" which cost me R0.00 in service charges, fees or anything else - Zip, Zilch, Zero, Nothing! Money was drawn over the counter and quarterly the bank teller would take your savings book, make an additional calculation where I actually got interest from Standard on my balance in the savings book. Yes, Standard bank actually GAVE ME MONEY, and CHARGED ME ABSOLUTELY NOTHING.
Now banks make money off transactions and not from the interest differential between their loans and the deposits they hold as they did for hundreds of years before the 1980's.
Where the hell did we go wrong?
The bank manager used to be a REAL PERSON, whom you could approach and talk to and who looked at your situation in sympathy. But then the computers, and the faceless "they" at head office took over....
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