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Why do banks still close at 3:30pm? « Free Tips DOT COZA

Why do banks still close at 3:30pm?


Posted on 11th September 2008 by Tony in Uncategorized

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So this week I got an affiliate cheque. Nice. I love those. Extra couple of dollars are always fun and I’m saving up all my US Dollars to buy myself a mac-mini for my plasma TV. I still have a looooong way to go, but hey! At least I’m having fun.

So I pop down to the bank to deposit the cheque (got my passport, ID book, proof of residence and proof of sanity – God Bless FICA) only to see they close at 3:30pm – STILL. Now look, I understand back in the old days before computers, the tellers had to add up their books and takings, make sure everything balanced, etc – but HELLO? This is 2008 for heavens sake. Surely we have computers who can handle this?

And really – banks have a lot to learn when it comes to looking after customers. My bank now charges 50c to send an email confirmation of a transaction. At what cost to them? ZIP. Add it up. Let’s say I do an average 20 transactions a month … R10 from me … over how many clients? Personally I think it’s a sick, sick strategy.

In the old days banking was a revered institution. It’s job was to protect your money from robbers; better keeping it in the bank than under the bed. So, the way I see it … a whole bunch of these robbers decided to get together and form their own bank.

And I no longer have faith in this Competitions Board doing an investigation on bank charges. They promised us they would address the rip-off. So, they fine banks and the banks just raise the fees to pay the fine.

OK, enough complaining … for now 🙂

  1. Marcel says:

    I’m also mystified why they charge 50c for an email notification … I think there’s some serious explaining to do there.

    11th September 2008 at 4:49 pm

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    11th September 2008 at 9:28 pm

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