Tuesday, January 20, 2009

Are E-Banking Systems Actually Cheating on Customers?



We are now in the era of fast-moving technology. However, how aware are we as consumers about the activity of new technologies that are manipulating us? Let's take a simple example. Maybank2u, the leading e-banking service provider charges consumers 50 sen per transaction (correct me if I am wrong). Just imagine, if 1000 people make transactions per day, they can easily get a profit of RM 500. That's IF 1000 people make only ONE transaction per day. What if more?


Not only that, how many of us are actually aware that Maybank charges RM1 each time we use their ATM machines the fourth time onwards? Again, please correct me if I'm wrong. Usually, banks only charge us if we use other bank's ATM (MEPS) to draw cash. However, Maybank will charge customers using its own ATM machine after three times using. For example, we draw RM 100 today, still no service charge. Tomorrow, another RM 50, still free of charge. In the evening, we draw another RM 30, also no charge. But in the next morning, we draw RM 200, the ATM will cut RM1 from our savings. Isn't this manipulating customers?


Always, in the end, the companies are making millions and billions of profits. It was mentioned that they have good strategies, efficient workers, bla bla bla, whereas the truth is, they are making money cheating on customers.


So, what's your say?

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