Question

Do you think current bank fees charged by banks are justified? support your opinion

Answer 1

I do not feel that current fees which are charged by the bank are rational in nature because banks are generally providing services to the depositors who are investing their own money into the banks and banks are also charging the depositors with different types of fees which are are not completely justified because they are even charging for using their services for more than Limited number of Times.

These are leading to exploitation of the rights of the depositors because banks are charging excessive amount of fees for use of their services and they are not providing enough rate of interest for compensate for their loss of Return sometimes, it can be said that these tactics by various commercial banks are highly exploitative in nature in order to exploit the interest of the depositors and its clients and they are trying to maximize upon their rate of return so common depositors in an economy will be needing the banking facility for higher amount of time, So, they will be doing the transactions over various banking applications and banking will be trying to capitalise upon their use of banking services which is not justified at all, because banking facility should be freely available facility which should be protecting the interest of the depositors rather than exploiting the interest of the depositors and I feel that excess amount of fees are not justified..