Rich Get Richer and Poor Get Screwed Over Big Time – The Democratic Republic of Ireland
It’s hard to believe that Ulster Bank account fees are going up again from 0.20 to 0.80 per transaction, plus the standard monthly maintenance fee of €4 per month! The transaction fees are 4 times more than what already been introduced last year in April 2019.
The nasty business by the Royal Bank of Scotland continues to escalate. If you are one of those people who work hard just to pay the bills like the constantly raising rent, electricity, or super ultra-high car insurance fees just to get standard basic living conditions with no extras, you will probably NOT like this!
The corruption in this country is high enough and it’s all because of nasty business deals between the banks and government, insurance companies and governments, etc. We are talking about hundreds of millions of euros being exploited by these companies and who pays for all of this? It’s normal people who can’t afford to keep the balance on their bank accounts constantly at more than €3000 or more.
For example, one of my personal Ulster Bank bank accounts where I maintain the least amount of transaction as possible (about 10 per month at max), and between October 2018 through November 2019 when the fees were introduced for accounts with lower balance than €3000 and weren’t as high as of now, just the bank charges for the whole year were whooping €150. Now imagine these standard fees being put up by 400%! People could be paying (depending on the number of transactions in and out each month of course) between €400 to €1000 per year to the rich banks, for nothing.
I don’t know about you like an Irish citizen, but to me this is outrageous!
The government should really do something about these rich institutions such as banks and mandatory car insurance companies, to regulate such a level of exploitation. There are people I know who were forced to get rid of their cars because of fraudulent astronomic car insurance fees making their life much more difficult without the car. And now the banks are starting to do the same, except that one just cannot get rid of bank account since many things are depending on it such as getting paid from the job or paying bills.
It’s called the CATCH 22, being forced to the corner and pay!
This must change.