Now "WE" own 58% of RBS "WE" should withdraw "OUR" high court bank charges case?

brightonman123

Tozer- HMG are using (borrowing?) taxpayer's cash, so by default we own their !!!.. be hard to prove the case in court though..

yes yer honour, my income tax for August 2008 allowed HMG to acquire 10 shares in xyz bank..'

Tozer

brightonman123 wrote: »

Tozer- HMG are using (borrowing?) taxpayer's cash, so by default we own their !!!.. be hard to prove the case in court though..

yes yer honour, my income tax for August 2008 allowed HMG to acquire 10 shares in xyz bank..'

But that's what governments do I guess.

Comes back to my point - my tax pounds go to buying Typhoon fighters. But I couldn't ask to borrow one for the weekend.

OurTommy

natweststaffmember wrote: »

The implications are massive, will we get "free banking" model of banking, will we see "pay for banking" model etc.etc.
.

by free banking do you mean haing to pay £12.95 a month for an Advantage gold account?????? charging people in financial difficulty £35 for a process that in real terms costs the banks approx £3-4 a time???? Dosen't pass on savings to its customers when interest rates drop????

WE have had to bail out HBOS because of the stupidity and greed of its directors, How can you defend the actions of a company that makes money in this way???

Caroline73_2

OurTommy wrote: »

by free banking do you mean haing to pay £12.95 a month for an Advantage gold account????

There are lots of free bank accounts - if you choose an 'Advantage Gold Account', then you choose to pay. I assume you get priviledges for this £12.95 per month?

I have never paid for a bank account.

militantconsumer

I've never paid for a bank account either - in Britain, anyway.

However, I think I'm right in saying that the UK is virtually the only country in the world where "free" banking is actually available. I've lived in France and Australia, and I'm pretty sure I had to pay a monthly fee, that I had to pay charges for cash machine transactions, etc., etc.

The issue is that banks have to make a profit somehow - so if they're banned from charging people ridiculous fees for being overdrawn, etc., then they will have to find new ways of boosting their profits.

By the way, I'm not saying this is morally right, I'm just pointing out that we might all end up paying a monthly fee. I'd rather not have to pay one, but I certainly think it's fairer than the current system where many of the people with the least money end up paying the most in fees.

And of course you have to think about the whole economy and how much trouble we'll all be in if the banks go under.

OurTommy

I understand that it is my choice to have an advantage gold account and pay for it, but my point is that Banks already make enough money from customers without having to resort to applying excessive charges to people. Think of all the ways banks make money: Interest on Loans, Mortgages and Credit Cards, investments in the stock markets, charges for having accounts such as advantage gold, Insurance sales, fees for other banking services etc...
I have been a Natwest customer since i was 13, a guy came to my SCHOOL to see if we wanted to set up bank accounts. Since then i have been flogged all sorts of stuff from my bank eg: Loans, Credit Cards, upgrade to advantage gold! also when i rented my first flat and needed to do a bankers draft there was a charge. Most of the things i have done through my bank have involved some kind of charge so how is this free banking? I get a phone calls from nat west all the time asking me if i want this or that product.

natweststaffmember

OurTommy wrote: »

by free banking do you mean haing to pay £12.95 a month for an Advantage gold account?????? charging people in financial difficulty £35 for a process that in real terms costs the banks approx £3-4 a time???? Dosen't pass on savings to its customers when interest rates drop????

WE have had to bail out HBOS because of the stupidity and greed of its directors, How can you defend the actions of a company that makes money in this way???

The "free banking model" expression was used in the OFT test case so the term is not mine. With regards to the ADGD account, you can choose to get rid of the benefits by converting it back to a current plus account. With regards to the charge of £35, that is the consequence of an action and not the product of one. For example,. if there is money in the account to pay an item then it is paid, if not then there is a charge which is currently LAWFUL and still the subject of the OFT test case. You have said that RBS Group do not pass on interest rate cuts to its customers yet we still pay 5% on fixed rate bonds even though the BOE base rate is 2%. There is the ISA bonus offer on transferred ISA's which is 1.76% which is 5.07% on 27k+. If you have a vredit card there is the Credit card savings accelerator which will pay out interest on amounts over £500 based on a three month useage as a top level.
If you want to know how I can defend the bank then see my username and the group of companies within RBS and all will become clear
We all have a choice at banks, its called YES or NO thanks.