March 31, 2014

Dear Sir;

I am writing concerning the bank service charges that are being levied on the public. It was interesting to hear the Minister of Finance rail against the banks in his Budget presentation, and I am now beginning to believe there is very good reason. On opening my bank statement from Butterfield Bank, I see that they have increased their monthly statement fee from $5 to $8 per month. An increase of 60 percent in this time of economic hardship. And the straw that breaks the camel’s back is their draft charges. I just purchased a sterling draft to find that the fee has gone from £32 to £47; a whopping 46.88% increase! We have price control commissions for about everything else, maybe we should bring the Banks under that umbrella as well. These increases are totally out of line with today’s economic times.

SEAWIND