Govt should pay banks’ fees, if any

THE EDITOR: I find it unconscionable that a bank should charge a fee for merely exchanging old $100 notes for new ones. Not all customers will do a straight cash exchange.

Some, especially those with huge amounts, will choose (or be advised) to deposit into an account. From this, the bank will generate income that is more than enough to make up for those who want a simple exchange.

In any case, if a bank chooses to levy a charge for exchanging money, that charge should be borne by the Government. If I go to the bank voluntarily and make use of its services, I expect to pay whatever fee the bank charges for such services. However, if I am forced to go by some other entity then that entity should pay the charge.

It is not right that citizens (and others), especially the poor, should have to pay this fee for a decision they did not make. Since this is a government-mandated move, it is only fair that the Government foots the bill.

NOEL KALICHARAN

via e-mail