28 August 2010

Little Faith in Banking

I have very little faith on the banking system here in the UAE. I always have the feeling of being "robbed" of my own money. It is so hard to explain but I do not get the abstract banking law in this region. 

The banks charge the account holder so many fees, for example, if you want a print out of your statement of account, you have to pay so and so amount per page. If you want a liability letter, again, you have to pay so and so amount.  Isn't that ridiculous? They keep charging the hapless account holders considering we are the reason why they are still afloat.

I miss the banks in the Philippines where I can bank on trust. It is a different ball game over here...

1 comment :

  1. That's like the US banking system too----but because the consumers are also protected by the law, the consumers can demand for amending these scrupulous system. So recently , some banks cancelled their offline fees, cheque fees, etc.

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