HSBC Changing all Bank accounts

Inactive

ahai1 wrote: »

That is disgraceful. No wonder they have money.

I suspect that it isn't just Spanish Banks that make a charge for operating their current accounts, I seem to think that the UK is the exception, but don't tell any of the UK Banking Staff on here.;)

Lokolo

Yeh. To be fair, I wouldn't mind paying for my account, if there were options. So like Option A, only £10 a year, Option B, £5 a month or whatever. Giving different options.

Then that way they would then stop (or at least reduce significantly) the overdraft costs etc.

But that would change the whole banking system, so it would only work if all the banks do it. Otherwise everyone would just go to the free one

ShelfStacker_3

ahai1 wrote: »

That is because they are paying the bank for running their accounts. I would not pay the bank for an account a single penny.

Only indirectly through interest. Premier customers don't pay so long as they meet the qualifying criteria of £50k in savings or a £umpteenmillions mortgage with the bank. You're thinking of Plus, who are limited to £100 CG now.

Paying for a bank account is probably going to be the only way to go if the CAG/MSE types get their way and get OD charges cut, if not nixed completely. They've not provided any other way to stop customers running up huge bad debts, just gone "well, we don't like this, so they should stop, and !!!!!! the consequences." Sad as it is, a lot of people see their free bank accounts as an equally free/cheap source of credit, not as, well, a bank account.

ahai1

I have nothing against the OD charges. Personally I don't think that I should be penalised by been charged for a account whilst other people cannot manage their money get away with it.

ShelfStacker_3

ahai1 wrote: »

I have nothing against the OD charges. Personally I don't think that I should be penalised by been charged for a account whilst other people cannot manage their money get away with it.

On that we can agree. While I think most of them are swingeing, there should definitely not be no penalty. The trouble is that many of the protesters haven't suggested any other action - they've shown that they're willing to reclaim anything they've been charged, so there's very few things left for the banks to do.

Lokolo

Manager of what? A branch or business??

Lokolo

It isn't. Was just wondering. So if you worked in same branch as ShelfStacker... you own him? :cool:

Inactive

ShelfStacker wrote: »

Paying for a bank account is probably going to be the only way to go if the CAG/MSE types get their way and get OD charges cut, if not nixed completely. They've not provided any other way to stop customers running up huge bad debts, just gone "well, we don't like this, so they should stop, and !!!!!! the consequences." Sad as it is, a lot of people see their free bank accounts as an equally free/cheap source of credit, not as, well, a bank account.

On this we agree, that makes a pleasant change.;) I agree with you that the court action is probably going to cost us all dearly, even those of us that have always used our accounts in a responsible way.

I still blame the banks in part for allowing the situation to develop in the first place though.

ahai1

I agree the thing that the banks should have done to protect their sensible customers is to prevent people from using the overdraft as a cheap loan. Instead after a certain period the rate should be the same as a personal loan. Instead of an overdraft they should call it a personal loan.

It is a sad day when people who are abusing the system are expecting money back for charges which the banks should have done a better job of justifying.

I wonder who will be the first.

Inactive wrote: »

On this we agree, that makes a pleasant change.;) I agree with you that the court action is probably going to cost us all dearly, even those of us that have always used our accounts in a responsible way.

I still blame the banks in part for allowing the situation to develop in the first place though.

ShelfStacker_3

ldavies wrote: »

But if i did......... i can imagine that his counter errors are good, his customer service skills are good and he is knowledgable....

This is why it's obvious you don't work in the same branch as me.