Salceda also criticized the transfer fees for transactions within the same bank, although many financial institutions do not charge their clients for intrabank fund transfers.“There are even charges for supposedly ‘unenrolled’ accounts, which to me is just fiction. What is the value added that the bank is charging for? Even money for pickup within the same bank can be charged as high as P100. Again, what is the value added that merits charging?” he asked.
He added: “I think a cap would force them to innovate and force them to really offer loans and other financial services instead of milking the small client.” “Regulation will be good, but they will eventually find ways to circumvent regulation. Competition is much better, because then they will have to straighten up for survival,” Salceda said.
Agree. Today, just got slapped with P25 per P10,000 daily Instapay transaction limit at Metrobank. The limit was changed from P50,000. I'm now questioning why I should put my money on banks at all. We are being ROBBED. Worse is that it is during time of rising inflation.
Epal amputa
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