Thursday, September 22, 2005

Bank charges and RA's

Found an interesting blog, Consumer Corner's blog, and two interesting posts on it; one being an opinion on Retirement Annuities and the other being how we are ripped off by the South African banks in the form of exorbitant bank charges.

Kinda of related, FNB are now giving 0.25% p.a. on their Million a Month 32 day deposit accounts. Granted, it was never touted as an account that you are supposed to get interest on, but really now; 0.25% p.a. is practially nothing. FNB are scoring big time encouraging "investment" and not awarding decent interest on this account! It's a lottery disguised as investment.

I went to Tokai FNB earlier this week to close my money market account (again), which they finally managed this time round, and got them to reimburse me for charges incurred due to their incompetence.

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