Sleight of hand?

Finweek English Edition - - Front Page - CLIVE M KIHN

A BE­LATED COM­MENT on the bank charges de­bate. I’ve been sur­prised at the ab­sence of any men­tion – or per­haps I missed it? – of FNB’s “Fee Saver” op­tion. By keep­ing your cur­rent ac­count bal­ance above R8 000 most trans­ac­tions (up to a max­i­mum of 35/month) are fee-ex­empt.

Sim­plis­ti­cally put, with cur­rent in­ter­est rates at roughly 1%/ month, the ap­prox­i­mately R80/ month in­ter­est I forego is sig­nif­i­cantly ex­ceeded by the av­er­age monthly fee of R150 that I’d have paid this year.

Seems like a no-brainer – un­less I’m miss­ing a sleight of hand on FNB’s part some­where?

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