About My Job

 I'm a Proud FNB teller, proud of "the TREE Bank" . My role in the bank is very important because:

• transactions I do add value to the Bank's books and keep the economy running
• customers I proudly serve draw from my knowledge, expertise and excellent service
• I get to learn much about banking, our customers, and to meet new people everyday
• I get the all-important salary that I use to grow and sustain my family with

 About Excessive Bank Charges

Banks have already lost lots of revenue from recessionary causes, credit crunch, financial crimes, and competition-related fee reductions. If Banks are forced to cut (or eliminate some) bank charges, I fear that many of us proud bank employees will lose their jobs. Where would we find work in these trying times?

I know generally most people feel banks charge excessive fees (which view I respectably oppose at the moment). But how excessive is excessive? And yes, I think it is unfair to compare local bank charges with their international counterparts because the economic circumstances between countries are most certainly different. The country has also seen some of the lowest increases in bank charges in recent years.

What Customers Can Do

I have always championed sensible banking: advising customers on choosing types of accounts, pricing options and banking channels that are most relevant to their needs. The same people who claim banks charge excessive fees, have in their ability the power to bank for less. If people can follow some of the following simple rules (source: anonymous, FNB Intranet), banks would not need to significantly cut their fees, and our jobs would not be threatened as a result:

Simple Rules

• The first rule is to shop around. It is important to choose the right account options for you – if you don’t take the time out to understand your banking behaviour, you could be paying unnecessary fees or paying more than you should.
• Always be aware of the balance of your account. If you are unsure, check. Banks charge you when you exceed your account limit or payments are declined due to insufficient funds. [Get sms-based Balance Alert from your bank]
• Arrange for your stop orders and debit orders to be paid at the most convenient time for you. Preferably just after your salary is received, but allow a day or two in case your salary is late. [Rather cancel a Stop Order than remove money from account before it goes through]
• Where possible, use electronic banking services (such as ATMs, Internet, telephone and cellphone banking), as these are cheaper than branch-based services.
• Evaluate your overdraft facility. If it is insufficient, apply to have it extended to avoid penalty charges. If you do not use your overdraft facility, cancel it to avoid paying the monthly fee. If you are using only part of the facility, have your limit reduced, to bring down your fees.
• Draw up a schedule of regular payments. [Cellphone banking or ATM account payments are the cheapest]
• Use your debit card as your preferred method of payment for goods and services and use your garage card instead of cash for vehicle-related expenses.
• If you must draw cash, remember that it’s cheaper to draw one lump sum than many small amounts. Also remember to use your own bank’s ATMs, to avoid paying additional Saswitch fees. [POS cash withdrawals are the cheapest]
• Cash deposits are also expensive, rather arrange to have deposits paid directly into your account.
• As a general rule, pay off your short-term debt first as the interest on these accounts is usually charged at a higher rate

The Big Question

 Inflation creates a perception that things are becoming more expensive. When inflation is high and people start feeling the pressure when their disposable income no longer grows in line with inflation for some reason, they start to "notice" other "background" expenses that they have not cared a hoot about before, and they tend to believe that these are unfair. We have been having these “excessive” bank charges and fees before, ask Vodacom: We've been having it!

If the powers-that-be feel banks are not entitled to generate "honest" income through genuinely low fees and low fee-increases, who is going to hire bank employees if banks are forced to reduce their revenues and potentially downsize???