Bank Interest- RWT and implications

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I have a question that hopefully someone can help with.

I am concerned that the banks are fleecing us with the withholding regime. For example the following appeared on my statement:

Balance $18,000.00
Credit Interest $30.66 $18,030.66
Debit RWT $13.80 $18,016.86


To my way of thinking there is some thing really wrong here.

Gross interest is $44.46 but the bank only pay you what the call "net interest" of $30.66 and then deduct the RWT of $13.80 from your account. This leaves you with $16.86.

Surely the bank should pay you the Gross interest, take the RWT and give that to the IRD and provide the net proceeds to your account?
Shouldn't my account be credited with $30.66 and RWT has been paid?

Thoughts welcomed.