Bank Fee Change
(N.Z. Press Association) WELLINGTON, October 11. The trading banks would announce soon details of a new system of bank charges, Mr J. Mowbray, chairman of the Bankers’ Association, said today. “The banks are replacing Inland exchange by a hew system of charges which will relate more closely to the main banking activities of clearing cheques and recording entries in ledger accounts,” he said.
“The rearrangement is designed not to increase bank revenue and will preserve the low cost of private cheque accounts.
“Some customers will pay less, others will pay more, but only because the cost of servicing their accounts at present has been to a degree subsidised by others.”
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Bibliographic details
Press, Volume CVII, Issue 31498, 12 October 1967, Page 1
Word Count
113Bank Fee Change Press, Volume CVII, Issue 31498, 12 October 1967, Page 1
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