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Excessive bank charges

It is no wonder that local banks make such embarrassingly large profits at the expense of their clients. It is very ironic that interest paid by the local banks on deposits is low, or non-existent, whereas when it comes to credit transfers, the charges are excessive.

It is very unfair that withdrawals from one's own account are considered a 'service' and therefore subject to a hefty charge, only for this transaction to be subject to another charge by the receiving bank. Talk of adding insult to injury!

The government or financial authorities should look into this matter of exorbitant bank charges.

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