It gets worse, of course, Faisel Rahman sumarises his experience and that of others
In 2003, under pressure from the government, banks created and promised to promote "no frills" basic bank accounts, which wouldn't need a credit check. These offer no interest, are badly promoted, and rarely allow people to step up to better financial products. Consequently, there has been low take-up. Much of this is bad product design and lack of bank enthusiasm for poor clients. For example, at the local high street bank near me, if you have a "basic" account you have to use the telephone service and not the teller; at others, staff don't even know to offer the account.So lets have a crack at the banks, they are crap at banking, they do not treat all customers fairly,
I have not noticed too many Mr Big's being put away for doing naughty things and their doubloons being confiscated for the benefit of the nation as a result of bank activity, rather the reverse! What can you expect of a financial institution which supported apartheid.