Opening a bank account not an easy affair

webmaster Letters, Normal
Source:

The National – Thursday, August 4th 2011

 I REFER to the comments made by the governor of BPNG that 90% of the people do not have bank accounts. 

The main reason most people do not have ac­counts is simple – they are turned away by banks if they are unable to produce three referees and an identification card.

How do you expect people who live in the remote areas to get references from some leaders who are for­ever in the capital city or produce an ID card when there is no availability of such facilities?

This has discouraged and turned off many rural people from opening a bank account. 

Another reason that turns off many people is the high banking fees imposed on every transaction a customer makes.

As a result of these fees, many people end up with less money than they initially deposited and the low interest rate cannot even cover some of these unne­cessary char­ges.  

 

 

Bonz

Lae