BANK CHARGES.
Sir,—l was glad to see that someone has recently drawn attention to the fact that the banks are permitted to tax their customers in New Zealand to the extent of 10 shillings each per annum under the pretext that it is charged to cover the cost of keeping each customer's account, They can increase this tax to whatever amount they like. The banks make huge profits out of their customers. If the customer's account is in debit he is charged interest, but if in credit he is not allowed one single penny whatever the amount he has to his credit. It seems to me a pity that the Government cannot extend the "business of the Savings Hank. Why should interest bo only paid on amounts "up to £600, thus compelling those who have capital uninvested to deposit this monev in the hands of private banks if they have more? Surely the Government could tiud use for the money. Taxpayer.
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Bibliographic details
New Zealand Herald, Volume L, Issue 15358, 21 July 1913, Page 4
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161BANK CHARGES. New Zealand Herald, Volume L, Issue 15358, 21 July 1913, Page 4
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