BSP Bank steals about K17 million each month. That's like K200 million in a year.
Every month K10 is deducted from a cheque account, that's K10 million if 1 million cheque account holders bank at BSP. (Take note when opening new accounts, BSP creates a cheques account because account maintenance fee is K10 compared to a savings account which attracts K3 deduction)
Then Every month you check your balance at an ATM, K3 is deducted, so easy K3million stolen from a million users checking their balances in their accounts.
And if you printed mini statement at an ATM, K4.20 is deducted, so easy K4million stolen if 1million users printed mini statements.
You total all these monthly deductions by BSP and it's K17million per month and an easy K200 million in a year stolen from you PNGian BSP die-hard customers.
The bad side of "user pay" policy. They are stealing because there is no regulatory body that can determine whether these fees are justified or not?
