Bank Charges
Sir,—The new scale of bank fees again demonstrates the need for a postal clearing service in New Zealand. A centrally-operated financial clearing institution can handle transfer operations efficiently and cheaply, even free of charge as in some countries. The use of computers and other automatic machinery becomes fully possible in a centralised clearing system which has been a wonderful success in Europe. In the Common Market countries alone there are 10 million accounts operated under this system. Along with the introduction of decimal currency the Government should introduce a postal clearing system in New Zealand. The community has borne the cost of fragmentation and archaic conditions in the banking world for too long.—Yours, etc..
EFFICIENCY. February 28, 1965.
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Bibliographic details
Press, Volume CIV, Issue 30687, 1 March 1965, Page 12
Word Count
120Bank Charges Press, Volume CIV, Issue 30687, 1 March 1965, Page 12
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