With the powers that be trying to convince us that we should become a cashless society, they have added yet another barrier when it come to cash transactions. When we deposit your investment that was purchased in cash, the banks charge us .0025. That’s correct for every $1000 in cash we deposit they charge $2.50 or $25.00 for every $10,000!

How do the banks justify .0025 fees on depositing real currency in to an account. They say it cost more to handle and they have to use armoured truck services to move it around the branches.

We make nothing on the fees however to keep our very competitive low premiums we have to include this fee in our final price model.

Trust me I think it’s crazy that the banks charge a percentage for depositing cash into an account instead of a small flat fee!