OK guys, who`s getting angry?

leviathan

Dithering_Dad wrote: »

how come you feel you're secure from any financial effects of the recession?

Not secure from any effects, but quite secure, as posted.

Don't depend on fuel prices as my car runs on veg oil and I have stocks.
Highly unlikely to be made redundant due to the sector I work in.
Not invested in any of the markets.
Not exposed to banks with my money.
No mortgage to worry about.

Short of extreme problems such as hyper inflation, food riots, general anarchy, everything should be ok for me.


Just been looking at the price of flights to Iceland.
With the currency exchange at the moment, it seems like a cheap holiday :rotfl:

voiceofdoom

I'm livid with my bank who I trusted and been with since starting work. I have tried to put a bit away where I can and behave myself. I resisted the temptation for ridiculous loans to buy stuff that I can live without and went for the saving option instead. Yet, my bank that encourages that doesn't have the same standards when it comes to looking after deposits. My bank takes massive risks with other peoples money and then cries wolf when it all goes wrong. My bank has done a terrible thing - it has lost my trust.

WTF?_2

voiceofdoom wrote: »

I'm livid with my bank who I trusted and been with since starting work. I have tried to put a bit away where I can and behave myself. I resisted the temptation for ridiculous loans to buy stuff that I can live without and went for the saving option instead. Yet, my bank that encourages that doesn't have the same standards when it comes to looking after deposits. My bank takes massive risks with other peoples money and then cries wolf when it all goes wrong. My bank has done a terrible thing - it has lost my trust.

People need to remember that "money in the bank" does not equal "money".

When you deposit funds in a bank, you are accepting an IOU and the promise of the bank giving cash back upon demand.

Normally, no problem.

However, should the bank go bust 'your' money is gone. It's not like they have a vault full of everyone's cash which they are 'just looking after' for them, which can all be given back.

I reckon there's a reason why OAPs have a stereotyped image of hoarding cash instead of putting it in the bank ... financial crises every few decades and once you understand how banking works having been through one in the past, you are less likely to trust your life savings to them.

By the time this is all over, I suspect a lot of people will be much more discerning about who they trust with their savings.

phil_b_2

Angry? Well it is annoying... to finally reach your professional maturity, gather a decent amount of savings and plan for the future etc, only for the economy and world financial markets to go tits up. Yea.

stevetodd

lostinrates wrote: »

Ours came through from KE this morning. I think that was 9 working days I think - the longet transaction I've ever set up. I was very worried about it last night. Now I don't know where to put it. I'm truely lost in trying to decide in fact.

9 working days!? Did they offer any explanation as to why it wasn't there in just 3-4 days?

Does anyone else have any comments/experiences about how long a BACS payment took from KE into your account?

moggylover

leviathan wrote: »

Vindicated.
Quite secure.
Ready for taking advantage of a depressed market.
Waiting for those in negative equity to panic.

Being angry isn't going to accompalish anything.

Whilst he govt aint doing the right thing for me, their efforts are having little effect anyway and everyone thinks they are bumbling idiots.
So no matter if they make the "wrong" decisions, the outcome is still going to be the same:
Bad for those with debt.

And quite possibly bad for all those with small businesses, those who will loose their jobs, those who have lived frugally but earn little and yet who will still loose their jobs, etc., etc.

There is a much bigger question here now than just lower house prices, a drop in those alone might be a good thing: a recession is never much fun for the vast majority of the population!

moggylover

leviathan wrote: »

Not secure from any effects, but quite secure, as posted.

Don't depend on fuel prices as my car runs on veg oil and I have stocks.
Highly unlikely to be made redundant due to the sector I work in.
Not invested in any of the markets.
Not exposed to banks with my money.
No mortgage to worry about.

Short of extreme problems such as hyper inflation, food riots, general anarchy, everything should be ok for me.

And you seriously do not see ANY risk of any of these?

Just been looking at the price of flights to Iceland.
With the currency exchange at the moment, it seems like a cheap holiday :rotfl:

Makes me wonder which planet you are currently living on!!! Certainly haven't been to the Supermarket lately have you!!

neverdespairgirl

!!!!!!? wrote: »

I reckon there's a reason why OAPs have a stereotyped image of hoarding cash instead of putting it in the bank ..

OH's grandparents had a stash of gold and diamonds in their flat in Jerusalem - for them, it wasn't only the prospect of banks going bust, it was about Jews needing (in their view) portable assets.

casper_uk

stevetodd wrote: »

9 working days!? Did they offer any explanation as to why it wasn't there in just 3-4 days?

Does anyone else have any comments/experiences about how long a BACS payment took from KE into your account?

Requested payment on the 28th Sept and got it a few days later on the 2nd. Wasn't a lot of money compared to some but it's everything to me!

lostinrates

stevetodd wrote: »

9 working days!? Did they offer any explanation as to why it wasn't there in just 3-4 days?

Does anyone else have any comments/experiences about how long a BACS payment took from KE into your account?

As I said, I mght be a day out but it was a long time. I called yesterday and they suggested that yesterday was the third working working day (that I know is wrong, very worng....I did the transaction before I caught my cold....could be eight working days, possibly fri day before last. In any case, it was well before last monday. (I postd that I'd moved it somehere in thi forum on either monday or tuesday.) In any case, they said three days and it would enter the account at midnight, I decided rather than give them stress I said I believed I could prove it was longer with my account recrds but I was ok to wait til today, thankfully it arrived, as promised, showing up this morning in my account, thus no need to fuss now.

Good luck to all other Iceland depositors, I hope you all get it all back relatively fuss free.