Concern over new current accounts - BBC News

MPH80

Lokolo wrote: »

I think what HSBC are doing is the best way to go. Have a minimum amount into the account, this way people tend to use it as their main account, then have options to open a bills account for easier budgeting..

Except the problem here is that it excludes the poorest in society - who were precisely the people the bank charge reclaiming brigade are aiming to help.

E.g. if you have a cycle of charges then the wealthiest in society don't care because they can afford it - but the poorest do because they can't hence what makes the charges so unfair.

However, if you set a minimum income on your C/A under which you charge or refuse the account - then the poorest are excluded again - and again the wealthiest don't care.

M.

bristolleedsfan

ShelfStacker wrote: »

What's being proposed is that the bank doesn't charge a fee for added extras, but for the basic operation of a bank account.

It makes perfect sense - every other European country has this, as well as the USA.quote]


Those who have never paid a penny in Bank charges like myself wont agree.

ShelfStacker_3

MPH80 wrote: »

Except the problem here is that it excludes the poorest in society - who were precisely the people the bank charge reclaiming brigade are aiming to help.

Erm. I think the people the bank charge reclaiming brigade are trying to help are themselves.

MPH80

ShelfStacker wrote: »

Erm. I think the people the bank charge reclaiming brigade are trying to help are themselves.

I know - but everytime I've written that - the other part of my argument was missed.

masonic

Perhaps banks need to turn the present system on its head. Instead of offering free banking and charging those that mismanage their finances, they could introduce a flat fee and offer significant discounts to those customers who run their accounts responsibly.

withnell

masonic wrote: »

Perhaps banks need to turn the present system on its head. Instead of offering free banking and charging those that mismanage their finances, they could introduce a flat fee and offer significant discounts to those customers who run their accounts responsibly.

Surely that'll end up with the same charges for each group overall?

bristolleedsfan

MPH80 wrote: »

Except the problem here is that it excludes the poorest in society - who were precisely the people the bank charge reclaiming brigade are aiming to help.

E.g. if you have a cycle of charges then the wealthiest in society don't care because they can afford it - but the poorest do because they can't hence what makes the charges so unfair.

However, if you set a minimum income on your C/A under which you charge or refuse the account - then the poorest are excluded again - and again the wealthiest don't care.

M.

Nothing to do with wealth or being poor, has more to do with people living within their means and managing their affairs correctly.

PROLIANT

Operate a three strikes and your out policy (one after the other) - no-nonsense customer management, if your crap with money you are not welcome here sort of thing.
It would save a load of money in chasing debt and admin.

PROLIANT

ldavies wrote: »

the basic bank account already does this... Ive had a customer throw a chair at me not long ago because the bank closed his account.. not nice!

Did you throw it back at him?

PROLIANT

ldavies wrote: »

nope.. called the police instead.. if i had, im sure i could guess who would have been arrested!

True, no need to throw a chair at somebody.
There is no hope for some people.