ABSA / service fee
I have a overdraft facility on the business cheque account. It is reviewed once a year. Last Year an amount of R500.00 was deducted automatically (jouranl)from the account as facility/admin fee.
This year an amount of R1000.00 was deducted. The facility had not changed in anyway, no new information was requested from me.
On contacting the bank, I was told that it was an admin fee that gets deducted when the review is due. All the banks do it and it is the same amount as last year. Which it obviously was not. What justifies the increase?
What can the man in the street do to combat such blatant price increases and stop the banks from exploiting their customers?
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