Bank Hapoalim: New fee structure is bad for customers - Haaretz

Subscribe to Print Edition

Fri., November 16, 2007 Kislev 6, 5768

Israel Time: 02:06 (EST+7)

web haaretz.com

Back to Homepage

Print Edition

Diplomacy

Defense

Arts & Leisure

Real Estate

Jewish World

National

Advertising

Easy Start

Magazine

Business

Opinion

Rosner's Domain

Anglo File

Week's End

Books

del.icio.us

Digg It! new

Bank Hapoalim: New fee structure is bad for customers

By Tal Levy

Bank Hapoalim thinks that the new fee structure is "detrimental to customers and the advance of Israeli bank-account management, and harmful to competition between banks," it said yesterday.

The new list contains just 68 types of fees compared with 198 in use at the banks at present.

	Advertisement

Canceled payments include documentation fees for getting a loan, fees for interest and dividend payments as well as fees for small businesses and foreign currency accounts.

Checking-account activities (about 15 types of operations), which have each been subject to a different fee, are now consolidated in a single type of operation to be subject to a single rate. The new list contains only two types of fee - one for direct checking-account activity (by Internet, telephone or ATM), and one for operations performed by a bank employee - with no differentiation between the operations themselves.

As a result, a customer whose main banking activity is limited to a checking account can focus on just two types of fee when comparing banks.

Bank Hapoalim believes that the current system, which it describes as an array of services provided for a set fee rather than specific fees for each service, meets the test of simplicity and has been adopted by the world's most modern banks.

"Cancellation of the current system is detrimental to the consumer and his freedom of choice, and therefore contradicts the intention and spirit of the law," Bank Hapoalim writes. "The product is one which the customer chooses voluntarily, and is free to change this choice every month and choose a different fee structure at no extra charge."

Bookmark to del.icio.us


	War speculations
	An aide to Sharon says the ex-PM wouldn't have sent ground troops to Lebanon.


	Nuclear inspection
	An IAEA report concludes Iran is generally truthful but still defying UN demands.

Today Online


	Minister Lieberman: PA must recognize Israel as Jewish state
	Responses: 160


	Tom Segev: Germany should pay as long as even one Holocaust survivor still lives
	Responses: 92


	Aluf Benn: U.S. wants Israel to get used to the Iranian bomb
	Responses: 147


	Haaretz.com TV: Hebron settlers taped abusing Palestinians
	Responses: 76


	Aide: Sharon wouldn't have sent ground troops into Lebanon
	Responses: 68

More Headlines
00:10 IAEA: Iran was cooperative with UN nuclear probe, but still defying demands


21:52 Weisglass to Winograd: Sharon wouldn't have sent ground troops to Lebanon


22:14 Palestinian billionaire launches movement to rival Fatah, Hamas


23:50 Hamas to release Fatah supporters detained after Gaza rally


00:26 U.S. court rules against Orthodox Jew in privacy case


22:00 Ukraine President defends posthumous honor to alleged head of pogrom


23:31 Beinisch: Friedmann`s claim that High Court impedes Knesset baseless


20:43 Four East J'lem Arabs charged with killing alleged collaborator


17:04 Arab League to meet on summit stance as Syria mulls participation


17:48 Second century Roman road, bath unearthed near Jerusalem temple site