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  • Malthusian
    Malthusian Posts: 10,898
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    Smed wrote: »
    You claim that a £1 per month flat fee is unreasonable without considering the total balance. Expressed as a percentage on a balance of £5000 not an unreasonable figure for investments, that's 0.02%.

    That is a very high percentage for a monthly platform fee when it is on top of a 0.45% annual fee.

    On the other hand, £1 per month is 0.13p per hour, which on a balance of £5,000 is 0.000026%. 0.000026%! What a terrific deal.
  • mollycat
    mollycat Posts: 1,475
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    Smed wrote: »
    So you are claiming to be a banker then, I don't suppose you have any proof of that.

    I tried the old "pretending to be a banker" gig years ago....just got me abuse and a good few kickings.

    Now I pretend I'm an ex-footballer, much better results :)
  • ratechaser
    ratechaser Posts: 1,674
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    Oh lordy, a popcorn thread that I missed.

    Anyway, I can speak from many many years of experience (yes, honestly guv) that in banking you do get some esoteric characters. And let's not forget that people that work on IT help desks in banks and would rather talk to their computers than to real people, are often those most likely to describe themselves as 'Bankers'.

    Personally, I stopped using that title after about 2008 when we were seen as the spawn of the devil. 'Program Manager' does me fine these days (along with 'semi-retired':o )

    Anyway, back to the real world. 4 new regular savers and a new ISA set up this week. And all without the help of a financial advisor or an accountant. Well, us bankers ought to have a vague idea of how to do it eh, otherwise how could we expect anyone else to trust us with their money... :rotfl:
  • fun4everyone
    fun4everyone Posts: 2,305
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    ratechaser did you sar that bank from that other thread you made?
  • ratechaser
    ratechaser Posts: 1,674
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    ratechaser did you sar that bank from that other thread you made?

    Couldn't be bothered in the end, life's too short when you know all you'll get back is a load of flannel about commercial decisions. I'm not into the 'little man railing against the big banks' thing - would be a bit hypocritical given that I've spent most of my life working for them and being paid very handsomely for it!

    No, instead I'm just leaving my ISA with Halifax Share Dealing for now so they can continue to carry the admin costs, and I'll move onto Cavendish for my next one. And focusing my efforts on beating up my utility providers for more savings over the next 2 weeks. At least I can actually achieve something there...
  • eskbanker
    eskbanker Posts: 30,375
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    Smed wrote: »
    So you are claiming to be a banker then
    That's not what I said; you're making it up.
    Smed wrote: »
    You claim that a £1 per month flat fee is unreasonable without considering the total balance.
    That's not what I said; you're making it up.
    Smed wrote: »
    Expressed as a percentage on a balance of £5000 not an unreasonable figure for investments, that's 0.02%. Since you think that is very big
    That's not what I said; you're making it up.
    Smed wrote: »
    You also appear to claim that the fee charged is the be all and end all of investing because the fee is all you are considering.
    That's not what I said; you're making it up.

    In fact I said the exact opposite ("If you're clumsily trying to make the point that cheaper isn't necessarily better then I'm sure that's something we can all agree on") and asked you what other factors you feel justify the higher costs, but you failed to answer this....
  • bigadaj
    bigadaj Posts: 11,531
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    A la football chant..

    "Is smed Anthorn in disguise"...

    Repeat ad nauseam.
  • Smed
    Smed Posts: 40 Forumite
    edited 20 April 2017 at 11:31PM
    eskbanker wrote: »
    In fact I said the exact opposite ("If you're clumsily trying to make the point that cheaper isn't necessarily better then I'm sure that's something we can all agree on") and asked you what other factors you feel justify the higher costs, but you failed to answer this....

    There you go yet again referring to "higher cost" without a like for like comparison. Higher cost than what?

    An acceptable comparison might be "Bux" which offers a similar service to Moneybox through a mobile app. Bux quotes dealing fees from £0.25p each. Now my Moneybox account typically deals 3 times per week because I add money to it weekly. So if Bux similarly trades 3 times per week and the dealing fee is actually £0.25p each then the 4-weekly fees in Bux total £3.00 compared with Moneybox's calendar monthly flat fee of £1. That makes Moneybox cheaper than Bux. I find it curious though that you think £1 is a great amount of money.

    I bet you do a better job working out your dole money.
  • How is this pointless thread not closed?
  • TheShape
    TheShape Posts: 1,777
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    bigadaj wrote: »
    A la football chant..

    "Is smed Anthorn in disguise"...

    Repeat ad nauseam.

    Anthorn's most recent post was 24/03/17 @ 12:51am

    Smed's first post 24/03/17 @ 1:15pm

    Could be entirely coincidental, just like Superman and Clark Kent never being around at the same time!
This discussion has been closed.
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