Miffed trying to open bank account

Tootsie_Roll

kevker wrote:

So going back to your argument about bank charges. Surely if everyone paid for banking it would be fairer. After all it must cost something to run your account. And yes I can understand that banks have your money, which they invest etc, but surely, unless you have a large balance every month, throughout the month, then they can't be doing that well out of not charging you for anything. Surely it would be better then if eveyone just paid for what they used. So everytime you write a cheque, you pay a fee to cover the administration charge. That way, when people sometimes have no choice but to go over their overdraft, they won't get unfairly penalised, and will just pay the true cost as they don't then have to subsidise people's free banking.

Power to the people comrade !

freeclimber

Orginally posted by Tootsie Roll
Blah, Blah, Blah - yes heard it all before.

Heard but didn't listen?!

Anyway, loans are a separate issue, and are in effect the bank investing surplus money in order to achieve a percentage return, which contributes to their profits. Fair enough - I have a choice as to whether I take a loan or not - and this is one of the things that helps to keep general banking free.

I also accept that I should pay for my banking - perhaps even with a mark-up for the 'service' of bouncing my DD. Even with a high street retail mark up of 100 per cent, that comes no where near the charges currently levied. And in that I DON'T have a choice, as all banks charge fees that are disproportionate to the costs in relation to modern systems, even allowing for a 100 per cent 'service' mark-up. This of course is made even worse when, in managing my accounts to the last penny (which I do) I have very little left at the end of the month. If for whatever reason my bank bounces a DD because the money I have paid in has registered but not cleared (this happened to me last year), and that I would be overdrawn by £1 for one day, then I am £38 down with no way of immediate recovery. In itself, you can argue that a charge is justified, but for the bank to then charge me for being £37 overdrawn because of their own charges, then charging me on the charges on the charges, then charging interest on the charges, taking me further and further into the red - how is that me mismanaging my accounts?

It is also a little rich for you to have a pop, when I agree to pay for the cost of my banking AND contribute to the profit margin on top, but you don't agree to pay for the cost of yours.

If the banks can still cover their costs, and still make some profit in the process, how is that making me selfish? There is a difference between profit and profiteering through greed, and neither of them have a direct impact on your own banking - unless of course you are a shareholder.

Of course, if the bank decides to impose charges on all customers in order to make up for a loss of profit (note: not loss in itself) through scaling down their charges, then YOU have a choice - take your business elsewhere. What, you mean ALL banks are now charging for current accounts? So much for choice, eh?

Tootsie_Roll

So you know at the outset that charges will apply if you go overdrawn, you also know at the outset that you need to have CLEARED funds in your account to enable a DD to go through - basically you know everything you need to know about running your account without incurring charges yet you still do but it is the greedy profiteering bank that is at fault not you !! And anyway in the example you gave most banks would probably give you a refund so your point is mute.

'It is also a little rich for you to have a pop, when I agree to pay for the cost of my banking AND contribute to the profit margin on top, but you don't agree to pay for the cost of yours.'
Actually I have agreed to the charges - but CHOOSE not to pay them by managing my account properly.

'If the banks can still cover their costs, and still make some profit in the process, how is that making me selfish?'
Because the banks will want to make up the money from somewhere and it will be everyone else that ends up paying for your mis-management.

'Of course, if the bank decides to impose charges on all customers in order to make up for a loss of profit (note: not loss in itself) through scaling down their charges, then YOU have a choice - take your business elsewhere. What, you mean ALL banks are now charging for current accounts? So much for choice, eh?'
Excactly - now you're starting to get it - we will be back to the old days where we did not have a choice and it will be because of the so called pc actions of groups like the BAG. So many instances where these so called consumer groups ruin it for everyone else by their actions without thinking them through.

THE_LONE_RANGER_4

So Be Ashamed YoU :rotfl: Lot

amosworks

Oh my gosh! What started off as me trying to get something off my chest about Natwest seems to have turned in to a pretty heated debate on the state of the country, government, politics et al.

Whilst I think what everyone says has merit, posting in all caps doesn't make it any more important loneranger I think that this country has (and continues to) go to pot, but it's through the actions of the individuals that can try and stop this from happening. I may be just one case against something unjust (paying for free baking for everyone else through unlawful charges), but I never agreed to this and I have been wronged. It's unjust which is why I'm doing it - and I don't think people should feel powerless to act (after all, every drop of water in a flood would claim it's not his fault).

But on the flip side, I do have a commitment to society at large and people with disabilities, as mentioned, are partly supported by my tax even though I don't require any support because I'm not disabled. Of course, I don't mind this; I am proud to contribute to my society - but not proud to make rich people even richer and to pay for over-priced services which fund something an able and capable person can pay for themselves.

I've not been to hospital or to see a doctor for some many years (quite basically I don't trust them - they seem more concerned with pill-based solutions than solving the actual problems IMHO) so I've been trying to live a holistic-centric healthy lifestyle which has done more for me than the NHS ever could. I do resent paying so much for the NHS as the system is grossly abused.

What I'm trying to say is that I am not agin paying for things which genuinely help people who need it, but I am agin paying for things to give people an easy ride and make fat cats even fatter. Respect is the name of the game, and it's a game of 2 halves.

Broken_hearted

I think the issue is choice, how many people choose to go over their OD. I went £150 over mine with charges and my cheques bounced. It wasn't my choice abbey decided to pay a company that I didn't deal with money out of my account and then took months to refund it.
On the other hand some people do have to go over to get such luxuries as food and heating.Often only a couple of £ over. They then get charged £35, so next month they have even less money to live on and go over again. How are they supposed to ever get back on track.

THE_LONE_RANGER_4

:rotfl: :rotfl: :T :beer: SORRY ABOUT POSTING IN ALL CAPS but my key boards broke, tootsie probably thinks she will end up paying for that

freeclimber

'If the banks can still cover their costs, and still make some profit in the process, how is that making me selfish?'
Because the banks will want to make up the money from somewhere and it will be everyone else that ends up paying for your mis-management.

You are not paying for my mismanagement - I am. Sensible charges would cover costs and still contribute to the profit margin. If the banks want to make more money, then tough - you can damn well cough up to help their profits too.

Perhaps if you paid for the services YOU used - for the bank's cost in running your account, sending you statements, offering phone and online banking etc - then their profit margin would be matched without hammering people like me way in excess of a fair commercial rate. To call ME selfish when you just want to get something for nothing (banking with all the trimmings for free) strikes me as being a little hypocritical.

Tootsie_Roll

'You are not paying for my mismanagement - I am.'
You just don't get it do you - EVERYONE else will end up paying for your mistakes as we all get charged for banking services which are currently free.

'Perhaps if you paid for the services YOU used - for the bank's cost in running your account, sending you statements, offering phone and online banking etc - then their profit margin would be matched without hammering people like me way in excess of a fair commercial rate. To call ME selfish when you just want to get something for nothing (banking with all the trimmings for free) strikes me as being a little hypocritical.'
You signed up to the T's&C's, probably with little or no thought and you will have been given/sent the tariff of charges - now it has come back to bite you on the bum and you think it's wrong. Yes I want free banking and I don't want to pay charges but I earn it by running my account properly as do the vast majority of people. So you would prefer the majority to suffer just so long as you are OK ! Charming !

freeclimber

Yes I want free banking and I don't want to pay charges but I earn it by running my account properly as do the vast majority of people. So you would prefer the majority to suffer just so long as you are OK ! Charming !

So if everyone started running their account as you do, and no one incurred the charges, thus reducing the profit margin for the banks and thus by your own argument leading to the end of free banking for all, would you then say that those people who used to pay fees were selfish for now managing their accounts properly, and that EVERYONE would be paying for them sorting their accounts out?