I have been a FNB client for very long. Besides the fact that they lost about 3 of my international cheques in one your a couple of years ago I actually did not have a problem with their service. I like their internet banking, especially the fact that it is free. I must say here they score a point. While the other greedy banks charge for internet banking FNB gives it for free.

But this morning I just lost my marbles and I am furious to see how South African banks are allowed to rip off and steal from South Africans by means of bank charges. I think our banks should be ashamed of themselves. They show millions in profit for their share holders each year by stealing their clients hard earned cash. (I call it steal because it is such a huge rip-off it comes very close to theft.)

In one of the comments on the various “bank charges” articles on fin24.com one lady said that her salary was paid in late that month. Her bank was then too happy to charge her something like R120 for each debit order that bounced. In the end they took R1400 from her hard earned cash. The joke of the matter is although non of her debit orders could go off the bank took the R1400 in penalties even though there were no money in her account. Read more »