Dear Editor – I would appreciate a space in your column to register my frustration with the way banks are robbing people.
You see people; we do not have to save money in the banks. They way we are made to believe and do things in relation to putting money in the banks is only a way of feeding the banks with huge fees and interests.
The moment you decide to wire money through the banks, you give the banks a share of your money.
I wrote a letter earlier asking if companies could pay people as colonial times did. Pay people using envelops. This way, people/ workers can get their deserved money without any deductions from the banks.
You see, when companies put your money through the banks, they ensure the banks get a share of your money, something the banks did not even work for. This happens when you money is paid through the banks and withdrawal fees and others are imposed. This is not fair for people and workers. Companies should think about this. Workers should also ask their employers to start paying them using envelops.
It simply means we are enriching the banks. The right and honest thing to do is to give people’s hard earned money to them without having to go through the banks.
If you look at this system through a broad picture, you will see how banks take little money from everyone which makes up millions at the end of the day. This is why banks want more people/customers to bank with them. This is because everyone’s little contributions make up millions for the banks. And mind you, the fees and interests are not cheap. Withdrawal fees are up to $20 each withdrawal.
Think carefully about this and make up your mind. The banks deduct from your money, monthly fees, withdrawal fees and those with loans, the interest rates are up the ceiling. It is calculated in a way you will never repay your loan quickly. They are really not helping when you get a loan.
The systems nowadays are not good for us although they may be positive in some sense. Only choose what is good for you.
I am warning all Solomon Islanders to think again. Put your money where no one else can benefit or take a little share from it.
It is time we think carefully and make wise decisions. A lot of businesses and investors are taking advantage of the fact that we spend without thinking. Now it is time we think before spending or attaching ourselves with things.
Have a nice weekend.
Freddy Masini
White River
