The bandit banks !

There are reports that the banks are quietly edging up interest rates on credit card transactions. They are aware that some people are in trouble with home mortgages and are using credit to stay afloat - and they are getting in for their cut !
Take a trip down memory lane. Get to know what banking was like in yesteryear - ask Grandpa how he did his banking ?
How did he get his first cheque book ? Now that was quite an experience. The bank manager got him in and grilled him on his credit history, job security - and then said " He would let him know ". About a week later - if his story checked out - he got a letter in the mail telling him a cheque account had been approved.
But what about those people who did not have a cheque account ? Cheque accounts were only for the well to do. The " peasants " had savings accounts. But what happened if they wanted to buy something that required them to send the money in advance ? They drew the money out of their savings account and took it to the post office - where they bought a " money order ". Safer than sending cash through the mail - and for a small fee they could require the recipient to provide ID and sign for the cash at the other end.
Why are things so different now ?
Because back in that day there was a big, bad watchdog that kept the other banks in line. The Commonwealth bank was owned by the government - and it was supplemented by state owned banks - and that set the tone on how banking would be conducted.
Then - for some reason - the governments decided that they had no business being in banking - and the government banks were share floated - and as privately owned institutions - joined their competitors in fleecing the public and becoming obscenely rich !
Ethics went out the window along with prudent lending practice. Money was showered on the public by way of credit schemes such as " Bankcard " and banks joined the " me too " rush to impose fees on every aspect of the bank process - from a fee to having the temerity to front the counter at a branch - to an impost for daring to use another institutions ATM.
Perhaps the banks have been too clever for their own good. The computer and advancing technology have made entering a bank branch a rare experience for many - and opened the door for non-bank organizations to offer a similar service.
The difference is that because electronic impulses between terminals cost little there is an opportunity for such firms to adopt the QTSP principle - Quick turnover - small profit - which delivers handsome rewards.
Maybe the banks are wise to gouge huge profits now - maybe their days are numbered !