COULD MEAN RISE OF 200 Per Cent
The new scale of bank fees could represent a 200 per cent increase for the average small account holder.
It was estimated at a press conference given by the New Zealand Bankers’ Association that individual persons holding current accounts wrote an average of 15 cheques a month. At the new rate of 4d an entry, this means that he or she will pay 15s a
quarter, or £3 a year, for the service. This does not include any credits to the account, which are also chargeable.
The present fee is 10s a half-year, making £1 a year.
When this was referred to a bank spokesman, he said it must be emphasised that the present bank fee yielded less than half the amount received from inland exchange, which was to be abolished.
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Bibliographic details
Press, Volume CIV, Issue 30686, 27 February 1965, Page 1
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138COULD MEAN RISE OF 200 Per Cent Press, Volume CIV, Issue 30686, 27 February 1965, Page 1
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