These guys decided to upgrade my account to private banking, hiked my bank fees without asking. Its like finding that some second hand car salesman had delivered a car in your driveway and taken money from your account for it. Would you give the second hand car salesman access to your money? Why give it to ABSA when they behave in that way? When I pointed it out they downgraded my bank account again, but the fees they charged me they are happily keeping. I wonder how many people they have over in this way. I can just imagine them sitting around a table and thinking how they are going to do this, how many people will notice, and what percentage of people won't complain and they get away with it. They probably call it "value-adding ideas" or "product development" or something like that.
Secondly, I transfer money from overseas to my ABSA account, and ABSA gives me a rate that is 5% lower than the lowest midrate for the day. And they charge fees on top of that. (When doing it with an honest bank here in Singapore, their rate was 1.5% below the midrate. ABSA pockets another 3.5%, and fees on top)
Why do they keep getting away with acting with total impunity?
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