Ridiculous Interest Charges

<p>I struggled with my internet this month and on my latest account I was charged R 5.40 for paying 2 days late.<br />I called and was told that Telkom charges R 2.70 PER DAY for late payment - which I think is a usurious rate.<br />This means that, in a 30 day month, they would charge R 2.70 x 30 = R 81.00 on an amount of R 421.17 (incl VAT). This amounts to an interest rate of 19% PER MONTH, or 230% PER ANNUM.<br />Surely this is *******?</p> <p>As a pensioner, over many years I have been careful to always pay my account on time - <br />and usually a couple of days early (when I'm, of course, NOT credited with R 2.70 a day for EARLY payment).</p> <p>I intend reporting this to the Consumer Council.</p>