Bank charges

dchurch24

Ha - sadly, it's probably true.

I quite like these arguments really.

I admit to not being able to stay away ;-)

IvanOpinion

dchurch24 wrote:

Ha - sadly, it's probably true.

I quite like these arguments really.

I admit to not being able to stay away ;-)

Discussions my friend .. discussions

Ivan

dchurch24

Ha - quite right. Sorry about that! :-)

chipmunk

IvanOpinion wrote:

.. and you have totally missed the point I am making .. to sum it up in a short phrase of small mono-syllable words (just for you) ... short term gain, long term loss

...............

Thank you Ivan, but you don't need to use "mono-syllable" words (again, the patronising tone you are so fond of and actually, the correct phrase is monosyllabic and there is no hyphen) as I have an excellent grasp of the English language thank you and please advise where in my post I inferred that I did not understand the point you were making.

"Short term gain, long term loss"; I have no problem if this situation eventually leads to the end of "free banking" as I personally feel that is a much fairer way for the banks to make money (they are after all, a business and are there to make a profit). However, I can see why people such as yourself are miffed because you will have to start paying for your banking, which currently is being subsidised by people who pay EXTORTIONATE charges.

It is a fact of this society that the people who are better off (for whatever reason you wish to think, more financially astute, better at understanding basic maths etc.) subsidise the not so well-off, i.e. taxable income (the more you earn, the more you pay) etc. I have not actually seen a post on this forum, or on the CAG forum where someone has out-and-out said that they intend to carry on mis-managing their finances once (if) they get their refund because they will not have to pay charges. I think most people just want to get back the charges that were taken from them "unlawfully" so that they can pay off their overdraft and get out of the self-perpetuating spiral of debt. Of course, you will always get the ones who are quite happy to feather their nests off the backs of other people, even you Ivan - quote "I am actually seeing the dollar signs flashing up in front of my face with the limited intelligence of some people on this thread. You lot are a total walk over"

I see you approve of our IT people. In fact there is currently a vacancy in that department due to the recent departure of one of them who was so far up his own a*se, he was sent on his merry way because he couldn't restrain himself from telling customers how stupid they were and that they didn't know as much as he did:rolleyes: (in fact they did ..... he was usually wrong!) Maybe you'd like to apply?

I've said all I intend to say in this thread. I read your posts, understood the point you was making (the fact that I disagree with most of it is immaterial) and was just trying to get you to see the other side of the situation (again, not to necessarily agree with it). I did not expect to be faced with your "I'm better than you are" mentality.

RichyRich

chipmunk wrote:

I have an excellent grasp of the English language

chipmunk wrote:

I read your posts, understood the point you was making

:rotfl: :rotfl:

chipmunk

RichyRich wrote:

:rotfl: :rotfl:

Richy dear,

Thank you for your invaluable post. Obviously the most constructive thing you could think of.:D

Just for your info. I did actually put "point you were making, Microsoft spell-checker changed it to "was". Who am I to argue with His Highness Lord Gates :rotfl:

RichyRich

Sorry, couldn't resist

IvanOpinion

chipmunk wrote:

"Short term gain, long term loss"; I have no problem if this situation eventually leads to the end of "free banking" as I personally feel that is a much fairer way for the banks to make money (they are after all, a business and are there to make a profit). However, I can see why people such as yourself are miffed because you will have to start paying for your banking, which currently is being subsidised by people who pay EXTORTIONATE charges.

This is actually one of my fears .. one scenario is that we ALL might have to pay many times for the privilege of having a bank account. As per earlier post I don't see it coming to that I just think we will ALL earn less in our savings & Pensions and pay more in our loans and mortgages ... it will be small amounts that over the long term will be significantly more than would have been paid in charges. There is nothing we can do to stop this though because the 'stop the illegal charges' campaign is steam-rolling its way through without any consideration to the long term effect.

It is a fact of this society that the people who are better off (for whatever reason you wish to think, more financially astute, better at understanding basic maths etc.) subsidise the not so well-off, i.e. taxable income (the more you earn, the more you pay) etc. I have not actually seen a post on this forum, or on the CAG forum where someone has out-and-out said that they intend to carry on mis-managing their finances once (if) they get their refund because they will not have to pay charges.

They will still have to pay charges .. they may even have to pay just to open the bank account, pay for statements, pay for use of the ATM etc. etc. People shout very loudly about it being 'their money' but yet they are the ones not managing it correctly. Ideally money management should be put on the school curriculum (sp?) and we need more products were the people can not incur charges because they do not have the ability to go overdrawn (unfortunately this means they may have to do without).

Marketing people are very innovative at getting more money and getting it quicker under the guise of benefits to customer. I wish I could give you the example I am currently working on, it would explain perfectly, however I am subject to non-disclosure agreements and it is highly commercially sensitive. I know that customers are going to jump at it not realising that it is going to cost them more in the long run .. its all in the sell.

I see you approve of our IT people. In fact there is currently a vacancy in that department due to the recent departure of one of them who was so far up his own a*se, he was sent on his merry way because he couldn't restrain himself from telling customers how stupid they were and that they didn't know as much as he did:rolleyes: (in fact they did ..... he was usually wrong!) Maybe you'd like to apply?

No .. because I am right and the customers are wrong That sort of person exists in all warps of life (you only have to look at our own government .. all 600+ of them ).

I did not expect to be faced with your "I'm better than you are" mentality.

Apart from the fact that I am, I really don't understand why you think I have this attitude (most of my typing has been done with a smile on my face) ... maybe it is that I don't believe in all this PC BS and prefer to lay it on the line rather than skirt round the issue. If somebody F's up then I will tell them so .. not beat around the bush so that they have no idea if they are being told off or not (and I respect people for doing right back at me).

Ivan

IvanOpinion

chipmunk wrote:

Just for your info. I did actually put "point you were making, Microsoft spell-checker changed it to "was". Who am I to argue with His Highness Lord Gates :rotfl:

It could have been worse .. it could have been 'wuz'

Ivan

stugib

IvanOpinion wrote:

This is actually one of my fears .. one scenario is that we ALL might have to pay many times for the privilege of having a bank account. As per earlier post I don't see it coming to that I just think we will ALL earn less in our savings & Pensions and pay more in our loans and mortgages ... it will be small amounts that over the long term will be significantly more than would have been paid in charges.

You make it sound like the banks will be on their uppers if they are stopped from inflicting extortionate bank charges so they'll be forced to look elsewhere to make their money. How much of a dent in their £3.47bn/4.8bn/5.28bn/7.94bn/11.5bn (for the big 5) a year profits will reducing these charges make? And what makes you think they won't try to do these sleight of hand tricks anyway even if high charges remain - they're greedy barstewards - if they think they can get more money out of us they will.