Despatches - Tonight 8pm Ch4

blind-as-a-bat_2

Glad i decided not to watch it by the sound of this thread.

I would have needed a new tv if i had the mood im in.


Whatever it said though one fact remains, without customers a bank is nothing, they can lose but it would take a sychranised effort from everyone to make them sit up and take notice.


What if everyone in the UK went into the banks all on the same day and drew all there money out for a week or two?

I wonder who would be in charge then?

Broken_hearted

The banks wouldn't let you bat, they'd simply shut the doors.
Many years ago 10 to be exact, i wanted to close down my Natwest account and move the money elsewhere. So off I went to the bank to withdraw the money £2,600 and was told NO, I had to order the money which would take 48 hours. Hang on its my money why couldn't I have it. Round and round arguement of I want my money (was only 18 so highly upset) end result leave the branch or we will call the police.
It might be our money but if the bank say no we have to wait to get it. Don't think Natwest are the only ones to do this.

get_me_out

Some credit unions do operate a bit like a bank but no nasty charges. Think it's ones in big cities.

We have a small one here, which is growing but only open 4hrs on a tues and fri. CAB have even referred people to us to help get them away from loan sharks and banks taking their money.

Something a few don't know is that your accounts with a credit union are not listed on your credit file. Most are held in branch. So if you need to save money without benefits office tracing they are the place to go.

blind-as-a-bat_2

I am aware that would be the case BH, not that ive ever had that problem:p

Did the bank claim in that case that you had agreed to it in the terms and conditions?

Even if they did it doesnt mean that claim was lawfull and as such they where allowed to hold your money for a further 48 hours

The one thing i have realised over the last 9 months is most of what financial institution claim to be the case in a given situation is not actually lawful

But because everyone just accepts it, even if they do argue, they get away with murder, but does anyone actually go home and look into what they where told? and do anything about it if they find out its wrong?

Ignorence is what gives banks power, and the assumption that they work within the laws and legaslation when they dont

PixiePie

Broken_hearted wrote: »

It said the banks will make back their losses from us. Every penny the lose they'll take back twice from those in debt.

And twice from those not in debt as well don't forget - a charge for depositing a cheque into the account, a charge for depositing cash, a charge for simply having somewhere to deposit the money into....it all adds up, and you don't have to be in debt to be paying the banks an amount.

RichOneday_2

get_me_out wrote: »

Some credit unions do operate a bit like a bank but no nasty charges. Think it's ones in big cities.

We have a small one here, which is growing but only open 4hrs on a tues and fri. CAB have even referred people to us to help get them away from loan sharks and banks taking their money.

Something a few don't know is that your accounts with a credit union are not listed on your credit file. Most are held in branch. So if you need to save money without benefits office tracing they are the place to go.

And yet the Benefits Agency are probably the most active referrer of clients to credit unions. Is it just me or is that reassuringly bizarre?