Decision Soon On Bank Charges
<New Zealand Press Association) WELLINGTON, January 20. The Reserve Bank will soon decide whether to allow the introduction of a new system of bank charges.
Changes to the present system were put forward last February by the New Zealand Bankers’ Association, which proposed that bank custombers pay 4d an entry on current accounts and that charges of 10s a half-year on current accounts and exchange on cheques be abolished.
After public criticism, introduction of the association’s new system, scheduled for April 1, was deferred. The Reserve Bank has been examining the desirability of the system since last March. The chairman of the Bankers’ Association (Mr J. G. Souness) said today that the 1 Reserve Bank was expected to finish its investigation within the next few weeks. Asked why the investigation had proved long, he said: “You can use your imagination to answer that. But I can say that the Reserve Bank is still brooding on the matter because there is a tremendous amount of work involved.”
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Bibliographic details
Press, Volume CV, Issue 30964, 21 January 1966, Page 1
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171Decision Soon On Bank Charges Press, Volume CV, Issue 30964, 21 January 1966, Page 1
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