Of course, he then deposited it into a building society. Nicely though, my own bank back in Australia just abolished overdraft fees, even though the bank would lose millions of dollars as a result, so they aren’t all crap.
Defiant Mapua artist Roger Griffiths today made a stand against Westpac by withdrawing his $190,000 savings in $20 notes.
The bank provided a red-and-black carry bag to take away the cash after meticulously counting it in front of Mr Griffiths at its Nelson branch.
Mr Griffiths, a loyal Westpac customer for 25 years, decided to withdraw his money after the bank rejected his application for an $80,000 mortgage. “It’s about time normal people took a stand.”
He said the bank turned down his application because he did not have a regular income as an artist. However, he was a successful artist, exhibiting his paintings at the World of Wearable Art complex, in Christchurch and New York, he said.
He wanted to buy a $385,000 property in Mapua, had $200,000 in cash and was going to sell his $110,000 campervan.
That more than met the bank’s criteria for a 20 per cent deposit, and the property which included a home and commercial premises would have returned $500 a week, he said.
He was disappointed when his loan application was rejected, but it was Westpac losing $111 million to Lane Walker Rudkin Industries that tipped his decision to withdraw his money.
“They can lose $110 million with LWR but turn down a normal customer who has never missed a loan payment,” he said. “If they don’t have the trust in me after 25 years, there’s a problem for Westpac.”
via $190,000 withdrawn in $20 bills – national | Stuff.co.nz.
Recent Comments