Yesterday I posted about online data security. Today, it’s all about online banking. Why are bank fees going up when the operating costs of the banks should be going down? Less branches, lower overheads, but more profits for the banks. I do find it hard to comprehend why banks insist on charging fees on online saving accounts when the whole process is really automated. Banks, like loans and credit cards, are a necessary evil.

All my current accounts are managed online. I bank online because I find it convenient and a lot quicker than having to physically get into a branch. In terms of risk and safety, I don’t view it as any riskier than going into a branch.

In short, I would like to conclude this presentation by saying that Bank Charges suck. Thank you for listening.

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