Banks Trying to ROB the Elderly

I've just received a letter from a local Malaysian bank stating that they'll be charging RM5.00 per MONTH not year for the public who wish to keep their bank book. The alternative to that is the monthly statement which will then use the Bankcard for ATM withdrawal, or Bankcard and New IC card for over the counter withdrawal.

Let's think of today's society. How often does one loses their wallet compared to losing a bank book? I'm not sure of the exact procedure for the over the counter withdrawal as the letter didn't state anything of it. So now the thief would be much much richer compared to the old times. When we get robbed, the thieves would force us to go to the ATM and withdraw our money. Max limit would be like RM 1000.00

Now.. they can have your whole savings!!!! (unconfirmed)

Wow, think about that... What's the difference of the monthly statement compared to the bank book? Lots of elderly people are so used to the bank book and the bank are imposing these charges. Why?

Lots of personal documents are being sent by mail these modern times, thus maximizing the chances of documents lost in the mail, unsent, unreceived. Most surprising is that the notice of the changes came thru unregistered mail (normal mail). In it is the reply slip for the above said switch. Imagine that you didn't receive the notice and the effective date was end of the month. The bank would start to charge us. It that fair?