By Elsa Baxter
Customers complain about banks' decision to raise ATM costs and charge for statements.
A recent hike in charges at many of Qatar’s high-street banks has led to a raft of complaints from customers, it has been reported.
According to a report in the Peninsula, some banks have almost doubled the cost to withdraw money from ATM machines, while others have begun charging up to QR50 a month for statements that were previously free of charge.
Bank customers told the paper they were also being charged between QR25-50 for allowing their balance to dip under the minimum required monthly limit, which in some instances was as high as QR5,000
“My entire salary is QR7,000, so how can you expect me to have a QR5,000 balance in my account,” said one customer, who asked not to be named. He told the paper he was charged QR50 every month by his bank for insufficient funds.
The cost for getting a loan clearance certificate can be as much as QR1,000, the paper said. While, some banks have begun charging for replacement ATM cards which they used to issue free.
Today I got my credit card statement and on the statement it shows that they have charged me for the remaining balance that is left on my credit card (QAR 186.45).
What everyone is failing to see here, is that when a licence is issued to establish a bank or an insurance company or any other business be it private or public, it is I licence to provide a service for the public; the bank was given permission to open its door because of a need in the community, which without it, there will be no need for the bank. It seems that the consumersâ€™ affairs, or consumersâ€™ protection department, neglected this, and elected to let banks and other companies to hike their charges, so the share holders can be made happy and to hell with the public. The BIG question here is; do we have an all over functioning consumersâ€™ affairs, or consumersâ€™ protection department, or it is only looking at the price of fish and onion in the SOUQ.