- South African Government, FNB, Standard Bank, Absa, Nedbank
- South Africa
South African Banks have been charging extremely high penalty fees on broken promise to pays and overdrawn accounts. These fees have no effect on the wealthy and are only making those with economic problems poorer.
FNB currently charge a penalty of R187 if a person cannot pay his credit card as arranged. How they decide on that value, I have no idea and they cannot tell me either. Although I cannot say the exact values I am aware that if there is insufficient amount of money in an account when a debit order is due, they charge over R100 in penalties. A recent government suggestion has suggested a R5 penalty charge.
Obviously the banks disagree as they made over R34 Billion rand in transaction and penalty fees in 2006. Due to the banking industry being essential in our daily live we are forced to have bank accounts and are therefore subject to their greed and unethical policies.
Let's Stop them NOW!
We, the undersigned, call on the South African Government to regulate the penalty fees charged by South African Banks.
The Stop High Bank Penalty Fees petition to South African Government, FNB, Standard Bank, Absa, Nedbank was written by Anonymous and is in the category Consumer Affairs at GoPetition.