The Star announced today,new guidelines on imposition of bank service charges by Bank Negara. Forgive me if I don't hold my breath, because the Bank concerned is large enough to hold its own against our benevolent Central Bank.
I am one of thousands who use this bank's electronic banking services and to be informed upon my complain that "it is the bank's prerogative as per the service agreement" is akin to asking to to take back my complaint and shove it!
Under the guidelines to govern the imposition of such charges from Feb 1, banking institutions will be required to offer basic services at "MINIMAL COST". This is as vague as it is impotent in my mind. It sounds good but means nothing.
Contrary to CAP's stand, the bank's increased profitability is no justification for such a protest. A bank is afterall, a business entity that should strive for profitability. However, the unilateral imposition of the bank upon its customers for a service that not only saves them money (but I suspect channels a lot of business their way) reeks a stench that can only be described as in bad taste.
But I guess I'd better reserve further judgement until this is announced. Till then, I am forced to fork out RM 1 per month in order to save my bank's money. Malaysia BOLEH!
