Bank charges and all that

I like to use internet banking to transfer funds between different bank accounts - in different banks too.

I recently was disappointed to discover that certain local banks have introduced quite a hefty charge for transfers to other local banks. What a whole load of baloney! This will of course reduce the use of internet banking in favour of cheques - thereby increase use of ATM's, lengthen queues, etc.

Moreover it is unfair on the consumer. A person receiving salaries by direct credit has to open a bank account in the same bank as the payor - i.e. his employer - or pay the banking charges himself / herself! People transferring money on a personal basis will also have to follow this procedure. What a way to stifle innovation in Malta !