Some banks today are now charging service fees if transactions are done through a teller. It is may be limited to 1 person per month. This policy that was recently implemented by the bank encourages the customer to do transactions online and use electronic banking instead. This has also annoyed lots of customers. This also resulted into different opposing opinions on every client.
Most banks would claim that they are already equipped with computerization, automation and electronic banking. Although many are hesitant to use this, it is better than human tellers since it is more efficient, fool proof and cost effective.
Because there are still big numbers of customers who refuse to use the electronic banking process for withdrawals, deposits and check payments, the processing fees using human tellers are increased. The reason is, the bank would rather prefer the use of electronic banking services that paying for employees that can do the same, as it costs cheaper. This is said by Mark Webb, CFO of First National Bank.
Using automated, online, electronic, or phone banking services has caused customers to check and reconcile their accounts from time to time. Without realizing it, the consumers already accumulated a total of $18 billion. Those who have no doubt about the system don’t do much.
This is considered an unfair and unethical business practices which most banks do. You may ask how. This is what I am about to tell you.
If you fail to do regular check on your bank statements, you might not know the fees and charges that you accumulate for every electronic transaction you make, like for example, the increase in service charges. By making you use these electronic services, you are as well obliged to check your account on a daily basis. Once I called a bank regarding the fees and charges that has changed without my notice. The teller asked me if I do check my balance online every day.
I would rather stick to how I do bank transactions as long as I can.
