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BANK FEES FOR PAYING YOUR BILLS

September 5, 2017

Here’s an idea – it may not get a lot of traction, but it is a thought – read on…

Fortunately the government is reviewing the RBC’s notion of charging people fees for paying their bills and the RBC had apparently decided to move away from the implementation of the plan anyway.

However, some companies continue to charge fees for such things as sending a paper bill – a cost that was undoubtedly calculated into their charges many, many years ago.

So imagine sending your bank or utility company a regular monthly statement for making your payment it might look something like this:

INVOICE No.: XYZ

     Opening envelope               $1.00

     Reading Statement             $1.00

     Log into online banking       $1.50

     Making Payment                 $1.50

     Total Amount Due               $5.00

Please note that all consumer bill payment invoices are payable withing 20 days of receipt and bear interest at the rate of 19% per annum.

Of course we are just being facetious and don’t recommend that you implement such a strategy