The Banking Services (Amendment) Act, 2016

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I believe the intent of the act is good, given the fact that banks have sought to impose a heavy burden on the consumers for far too long.
Banks are the only business I know that you lend money to and are charged by the lendee ( bank) to access the money you lend them.
They are also the only business I know that sets the rates at which you lend them money, which they in turn lend to other business.
For the most part, the amendments seem fair, but there is one area that needs to be sorted out and that is schedule 132A  , Section 5  and Twelfth schedule part 3. minimum service package.
The sticking points appears to be the 120 free transactions per customer per year, but as far as I am concerned this is an easy fix.
There are some transaction that uses more resources than others and as such should be priced differently based on the size of the transaction.
The ability to or the consumers willingness to pay should be part of the consideration to arrive at a position so we can get to passing and  implementation of the act.
I am therefore suggesting a tiered fee structure.