South Africa is developing new rules to deal with collapsing banks – including how savings will be covered

Moto Guzzi

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Speedster

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So what will this "scheme" cost me as a customer, and why are failing banks suddenly forseen, bank costs are excessive as to before digital systems were incooperated.
Because they've failed in the past and they will fail again.
 

RedViking

Nord of the South
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Feb 23, 2012
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This is good for the customer, specially with all these 'new' banks popping up. Tyme, Virgin Mobile, Discovery....and the governments sending the economy into the ground. I guess it is not clear yet if the banks will push this as a direct fee or insurance on the customer.

I can also imagine there might be some more profit in for the government. A limit on the amount being covered is maybe also a way to encourage other investments than having money lying in the bank.
 

RedViking

Nord of the South
Joined
Feb 23, 2012
Messages
28,612
So what will this "scheme" cost me as a customer, and why are failing banks suddenly forseen, bank costs are excessive as to before digital systems were incooperated.
Well you can always put your money under your mattress.
 

Cage Rattler

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Nov 29, 2005
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331
Hmmm, same approach as many overseas... Think closely about the two terms mentioned, viz. bail-in and creditors!
 
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