We elect MPs to represent us in parliament where they make decisions on our behalf. So, what caused them to sell the majority of our banks to Australian interests?
What a mistake! Now profit is the driving force in bank services, not customer well-being. Three bank actions confirm my low opinion of them and of our MPs decision.
Firstly, the sending off-shore of excessive profits instead of re-investment. Secondly, the closing of community branches instead of co-operation.
Thirdly, the removal of the long-standing cheque system. This last action was a way of having customers use their computers to do the bank’s work online. Now we have a plethora of dishonest scammers from other countries.
Many charitable groups in NZ used to be funded by cheque donations, but no longer. Could banks help out? Or could we redress the problem by nationalising what was ours before?
