Savings charge
Sir,—Recently, my son received a letter from the United Building Society informing him that his savings account would incur administration charges of $1 a month as his savings fail below $250. With this charge his savings would rapidly disappear. What concerns me, apart from the fact of explaining to my son why shortly his savings will be wiped out, is how a “bank” in this day and age can be so shortsighted to actively discourage and even penalise young savers with small accounts (below $250). Needless to say, my son will change to a bank which encourages rather than discourages young savers. — Yours, etc., DENIS HEWISON. July 6, 1986.
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Press, 8 July 1986, Page 20
Word Count
111Savings charge Press, 8 July 1986, Page 20
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