Bank Charges - Banks Win!

Lokolo

maka wrote: »

did i say that?? i love the way you take what you want to hear/read from my post try taking you head out of !!!! for one second please. all im trying to say things happen to people that are beyond their control and they should not be paying through the nose for it. yes there should be some sort of penalty for those who do not manage the accounts correctly but £30 to £50 per failed payment is to high.
as of about 2 weeks ago i no longer use a bank i just dont trust them with my money.

Good luck with that....

maka_2

Lokolo wrote: »

Good luck with that....

thanks!!!
instead of slagging people off for being poor with their money why dont you offer your so called knowledge to people in person spend some time with people who struggle with money and see if you can help them sort it out just so it gives you a taste of the other side.

Lokolo

maka wrote: »

thanks!!!
instead of slagging people off for being poor with their money why dont you offer your so called knowledge to people in person spend some time with people who struggle with money and see if you can help them sort it out just so it gives you a taste of the other side.

I do.....

I usually get them to complete a statement of affairs and then get them to post it here or the DFW board. Then myself and others can suggest ways of cutting down on expenses. I usually get them to put it in DFW board as there are a lot of users there who are a lot better than me at it. Give me a savers question anyday

maka_2

Lokolo wrote: »

I do.....

I usually get them to complete a statement of affairs and then get them to post it here or the DFW board. Then myself and others can suggest ways of cutting down on expenses. I usually get them to put it in DFW board as there are a lot of users there who are a lot better than me at it. Give me a savers question anyday

and thats great but i mean spend time with them in their homes so you can see the stress and the way it changes people's mind set until you do that you cant truly understand why people stuggle on the money front

oxenryd

Is this becoming the anti-lokolo thread ? lol

Lokolo

oxenryd wrote: »

Is this becoming the anti-lokolo thread ? lol

They all hate me, just like people in real life haha

td_007

I would say at the outright that I am all for free banking and if you use banks you abide by their rules and apply similar rules if they fail - as a simple example I demanded and got £50 as compensation as the bank made two transfers instead of one that I had requested.

For those who argue that the cost pile on, the question I ask why did you run short of money - if your salary is delayed or even if you do not receive it for a few months, there should have been reserve savings to use. If you did not manage to have savings then you are living beyond your means - maybe that is too big a mortgage you have taken on, or that phone contract or the tv or even kids!!

I_know_my_ABC_and_my_CMYK

Lokolo wrote: »

It won't though, because 90% of us in this board and S&I board have saved up enough salary to live off in case this does happen.

how the mighty are fallen

I was exactly the same as you, money in the bank good job I even lived in Thailand for 3 years. Absolutely raking it in. And then one day a very carless driver in this country stuffed everything up by nearly killing me. The chances i will work again is probably never but i never give up hope. All my money in the bank has gone, there is nothing left at all, what did I do with it? I paid my utillity bills, my mortgage my council tax and all the other important bills including food, I had no loans it floated me for 2 years. But no more

So saying you have enough in the bank to live on make sure its at least 50% more than you need for the rest of your life, don't ever count on not falling and never laugh at those you consider beneath you.

there but for the grace of God go I.

never-in-doubt

jem16 wrote: »

Go for it Lokolo - it's perfectly possible despite what has been said.

My son has just moved into his first home last weekend, so first time buyer. He saved up his 25% deposit and arranged a 5 year fixed deal with the Co-op at a rate of 4.99%. He could have got a capped tracker at less than this but wanted the security of knowing his mortgage payments for the next 5 years without watching what the rates were going to be and worrying.

Great! Bully for your son, he's been charged a first time buyer rate! My fixed rate that just expired in October was 2.49% but now the variable is only 1.99 i'm actually about the same..... I also have a guarantee to go back onto a fixed rate at 3% before May next year.....

Your son must be amazing to get a non standard product

Co-Op's 5 year fixed rates with a 25% deposit is 5.49% (http://www.co-operativebank.co.uk/servlet/Satellite/1193206372574,CFSweb/Page/Bank-Mortgages?WT.svl=copy)

Inactive

Lokolo wrote: »

They all hate me, just like people in real life haha

I don't, I respect and admire your prudence and honesty with money matters.