Of Banking Conditions

I am mad at My Bank… or maybe I am just angry at the environment which results in things like this being business as usual.

Why do people put money in the bank?

Duh to keep it safe, right? Maybe earn a little interest possibly secure a loan and generally have somewhere your pay can be send to.

In Zimbabwe your money in the bank, you might as well as kiss it goodbye, the currency could change overnight, the bank could wake up gone, shutdown, bought up or under curatorship and not to mention the “tiny” lil charges and taxes eroding the money everyday it remains in the bank, you are charged to use it, charged to check your balance, you might as well as be charged type in your account number at this rate; And of course shout out to the cash crisis has forced us to go cashless, I cant remember the last time I set foot into the bank to make a withdrawal.

The other day while checking my emails I found an email notifying me that a transaction had been processed with my bank. Panic creeped in as my immediate thought was maybe someone had hacked my account or stolen my bank card then mild relief as I saw it was only service charge.

Wait what service fee? As far as I knew my type of iSave account should have no monthly service charges. So I contacted them.

iSave Accounts

Oh Hepii Day!!! Turns out the bank introduced charges effective 31 July 2019 and they had announced it on “our” website.

I hunted their website to find this gazette and failed to find it and at the time of checking they hadnt even updated the account requirements FAQs. Then requested for a link to the article or post.

Which  turns to be a link to a page with file you have to download…. I mean are you kidding me?

I am still reeling from that the I only got the email alert 10 days later what if I hadn’t set those and they should also be accompanied with an email, which I did not get as well.

How many other bank users are probably ignorant of this development safely thinking they have a few dollars tucked away in their account ? Isn’t there a system that compels them to make sure such notices reach the users I mean they have contact details on record they know my residential address they have my phone number and email, they send me monthly emails asking me to do a 5 minute customer survey but did not tell me they would start charging me. Oh wait they did tell me its there on the internet on their website for the whole world to see.

I feel like Arthr Dent in Hitch-hiker’s Guide To The Galaxy when he is told the plans to destroy Earth were gazzeted on some obscure planet for the whole world to see years ago.

Don’t Panic

~B

PS I miss the days when money in the bank was MONEY IN THE BANK

7 Comments

  1. Effective communication is an actual myth in this country. What the heck! I’m sorry B.
    I’m just like you though I since stopped going to the bank to make any forms of withdrawals.

    Liked by 1 person

  2. I am sure what they have done should be illegal but has been legalized by the fact that they uploaded a document with the notification on their website. Sorry B I feel for you, In this day and age every cent counts.

    Liked by 2 people

  3. It’s the law (here in the US) that you receive a written notice regarding ANY change to your account an x amount of days BEFORE it actually goes into effect, so you can plan accordingly.

    That IS terrible that you had no idea.

    Liked by 1 person

    1. Exactly I should have a choice and due notice to accept any chances to the state of my banking conditions… this is low key theft and then considering I am not the bank’s only client they just scored a neat windfall which is why its no surprise given our current economic spiral downwards banks are still posting quarterly super profits
      ~B

      Liked by 1 person

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