hard sell from the banks

ShelfStacker_3

Inactive wrote: »

Remember it is the banks that are mainly to blame for getting us all in to this mess in the first place.

No, it's reckless and stupid banks, not just "the banks", who thought lending money that they just borrowed (or worse simply made up) was a sound business model who are to blame, coupled with a blase consumer attitude towards debt in general. HSBC and Santander spring to mind as two of the big ones who weren't part of this, and it's unfair to lump them in with the ones who did screw things up.

Extant

Inactive wrote: »

Well it's a good job that we are not all dependant on Barclays recent past for our Pension Funds, I seem to recall that because of their greed, they needed to go to the oil rich states for support.:rolleyes:

You recall wrong. We had to raise more money because the FSA set new capital ratios, not because we were in trouble of because of "greed." We will still report a profit this year.

Care to quantify that "greed," by the way? You surely can't mean the sub prime write offs, because that was only 3 billion - significantly less than pretty much every other high street bank.

Or perhaps you're still suffering from that irrational "Money Saver Syndrome" where by normal business activities are taken to be "greed," and businesses are magically somehow to take on human characteristics?

Extant

Inactive wrote: »

...and Barclays would pay you in cash?...I think not, so you are talking a load of twaddle.

A bank account for most customers is a necessary evil these days, most customers do not wish to be plagued by sales pitches by bank staff trying to flog over priced, uncompetetive stuff I suspect.

Actually, Barclays have a procedure for paying in cash if absolutely necessary. The preference is to open a staff acount for the MoS if they can't pass a credit score, as that is authorized locally by the branch manager, not through credit scoring. If they absolutely refused to do that, you can arrange to have the sundry persons account of your branch (or a nearby branch if you work in another area of the business) credited, and then the branch will pass a cash debit for you.

Twaddle indeed.

And you sound so petulant. All bank products are over priced and uncompetitive? Ha. And, by the by, not every customer is as petty as you are. Most of them can just say "no thank you" without stomping their feet about it.

Extant

ShelfStacker wrote: »

No, it's reckless and stupid banks, not just "the banks", who thought lending money that they just borrowed (or worse simply made up) was a sound business model who are to blame, coupled with a blase consumer attitude towards debt in general. HSBC and Santander spring to mind as two of the big ones who weren't part of this, and it's unfair to lump them in with the ones who did screw things up.

Pretty much ALL the UK high street banks are borderline faultless. Apart from HBOS, none have exhibited a careless lending policy, or deviated from the idea of responsible lending.

The vast majority of UK losses from sub prime are from the mortgage debts that were repackaged as bonds, not from direct lending. But good luck getting anyone around here to acknowledge that.

chambta

opinions4u wrote: »

This is clearly not the case.

People buy products for a range of reasons. I would suggest that about 10% of customers are genuinely price sensitive. Otherwise we'd all have 8% Alliance & Leicester bank accounts wouldn't we?

Banks make their living out of customers not bothering to move their money out of poor paying savings accounts and bog standard current accounts.

They top up this living by 'flogging' credit cards, loans and insurances etc to those customers.

I fully defend the bank's right to sell stuff at the counter. If I've got a crap savings account at the Nationwide and the Abbey want to tell me about something that will double my interest, it's to mutual benefit that I know about that option.

I fully defend the customer's right to say "no" at point of sale and to also remove themselves from such marketing approaches when appropriate too.

I am certain that bank's could train their front line people to be a little bit smarter in the way they sell, but on some of the pathetic salaries they pay their key people, it's hardly surprising that some cashiers simply try the same line parrot fashion to everybody in the queue.

From personal experience the assumption is that bank staff are paid a hell of a lot more than the reality.

ShelfStacker_3

chambta wrote: »

From personal experience the assumption is that bank staff are paid a hell of a lot more than the reality.

And I can definitely assure you that that IS the reality. If it weren't for my territorial allowance, I'd be getting only a few hundred quid more a year than for stacking shelves.

Of course, we're all just "bank employees" and therefore brainwashed. Hey ho.

ldavies_3

Inactive, are you causing a rukkus on this thread too??? my gosh! you have one big chip I reeckon!

JamieD_2

All that said, not everyone is that financially savvy or aware. If your account details come up on screen and show £10k just sat in a current account with miserable interest, is it not in your interest to be offered a savings review?

If a quote for insurance is going to be £50 cheaper than your own, half an hour's work to get it switched works out at £100/hr. That's more than I'm paid.

Anyone can say "No thanks" and the staff won't hold it against you. There's never a need to be rude or obnoxious to people who're just doing their job.

Scousebird_2

I don't think they even keep tabs on it, to be honest.

Maybe not for Cashier's dear, but give it time then ask your Counsellors if tabs are kept-lol!!

Scousebird_2

ShelfStacker wrote: »

And I can definitely assure you that that IS the reality. If it weren't for my territorial allowance, I'd be getting only a few hundred quid more a year than for stacking shelves.

Of course, we're all just "bank employees" and therefore brainwashed. Hey ho.

Our cashier is on £6.08 an hour-I got more working for an agency 2 years ago, and she's in her 30's trying to run a home so I think you're lucky to be where you are in the country because costs of living is still rising to level in the north/south divide and the north is slowly creeping up to the south. At the end of the day-ASDA in London or down south will charge around about the same for a loaf of bread as in the north so it's pants and unfair!!