'The bank of Martin Lewis?' blog discussion 10 December 2009 at 12:01PM in Martin's blogs & appearances & MoneySavingExpert in the news 7 replies 2.1K views

Former_MSE_Penelope

This is the discussion to link on the back of Martin's blog. Please read the blog first, as this discussion follows it.

Read Martin's "The bank of Martin Lewis?" Blog.

Please click reply to discuss below.

k2nga

Its shame that a way cannot be found to start a fair bank. I dont think anybody thinks its unfair for a business to make money but these banks make massive amounts and normally from the poor through unfair charges and also i would like to see more people get a bank account as someone who is a regular on the Bankruptcy board its very stressful trying to get a bank account after the stressful process of bankrupcy and to be given a second chance. Just a bit of fairness for all would be great.

catag

Lets find a 'Bank of Best Practice'. Surely there must be one out there or am i being completely naive???:rolleyes:

And once we do that we will look for a government/opposition/MP who is interested in people not politics. ....................yeah right

edgex

what about taking over a bank/building society?

banks are plc's, so they have publicly traded shares, all you need to buy is 1 share to have a vote
building societies are owned by their members, again, 1 member is 1 vote

pmduk

There has already been a Lewis's Bank. Though I'm not convinced a bank is a good idea. Consumer organisations are best staying independent IMHO.

OliveOyl_2

k2nga wrote: »

Its shame that a way cannot be found to start a fair bank. I dont think anybody thinks its unfair for a business to make money but these banks make massive amounts and normally from the poor through unfair charges

I thought banks said that they didn't make money from current accounts overall, but made their money by gambling in the markets?

And the co I work for banks with the Co-Op - no charges (unusual for a business account) and an ethical policy. I might look at moving my personal account.....

marcharrison1979

blind-as-a-bat wrote: »

Depends on your definition of ethical.............

All this fair trade, saving the planet etc is a good thing, don’t get me wrong, but is it at the expense of the safety of there own branch staff?

At the end of 2007, in a staff meeting at our local co-op late shop, the management clearly showed it was

I'm sick of all this !!!!. Britain has been found to be the most corrupt country in the world... FACT! MP's are on the take, Law Lords are on the take, Bankers can do whatever they like, Supermarkets are way too powerful.. Let's all jump ship I say and move abroad, i hate hearing about people being ripped off every day. I am completely losing faith in mankind, people with power and influence seem to just look after their own best interests and not the people who put them where they are. We need a revolution to show these people who's boss, it's the only way things in this country are gonna changeburn down the government and let's have sovereign rule again!

nomoneytoday

How would you make any money?

Offering the best savings rate (3.4%) and the best loan rate (5.9%) doesn't leave much spread to pay staff, heat, lighting, national insurance, taxes, rates etc.

There would then be no charges to prop up the service, whether from customers or unauthorised overdrafters...