Bank Profits

obeywan_kenobe

When I see a company making record profits I think to myself "Who are they ripping off"

The big banks in the UK are making £20billion profit between them this year. That is approximately £4 from everyone in the world or £300 from everyone in the UK.

So if anyone is trying to beat the system like Martin. Good luck to you!!

Gaz_Hammer

Totally Agree!

What gets me as well is how they have the cheek to try to charge people for withdrawing money from cashpoints!

Makes the blood boil.

Gaz

zcaprd7

Back to us.

If you have a pension or any kind of insurance you benefit.

Think of that lovely corporation tax Gordon Brown will get to spend off those profits - imagine all their employees paying income tax and NI rather than claiming benefits.

As a global business imagaine how much cash they have sucked in from around the world to our little island...all for our benefit.

obeywan_kenobe

I wish that was true!!! How many pension plans are going under due to underfunding.
We are paying more taxes than ever and with little to show for it other than empty promises. Financial organisation are finding smarter ways of evading taxes. More fat cats retiring with fat pensions and golden handshakes. I could go on with this list...

zcaprd7

So you don't have insurance then?

JasonW_2

Gaz_Hammer wrote:

Totally Agree!

What gets me as well is how they have the cheek to try to charge people for withdrawing money from cashpoints!

Makes the blood boil.

Gaz

Actually, its not the banks who make the charge, its the supplier who runs the machines, and the shop gets a cut of the profit as well. The banks dont get any extra, but I think the HBOS group do own one of the suppliers of remote machines, so they do profit indirectly. The banks tried it a few years ago but had to back down due to lots of compaints. I just avoid these machines at all costs, no way am I paying someone to get my money. I feel sorry for people in remote parts of the country who have no choice but to use them

JW

Fuzzy_2

We all knew the banks were ripping us off, and HBOS profit announcement today just adds to the evidence.

Why can't we, the customers, get all the banks to have a set time for clearing cheques (ie 3 days which we all know is a pain) and after that time you are entitled to draw the money. If the cheque proves bad or fraudulent then after that time then banks have to accept liability?? Perhaps I'm being a bit naive, but when you hear of people having cheques bounced after over a week or longer, after they have withdrawn money in good faith, something must be done. It would be nice in this utopia to also have all finiancial institutions have the same clearance times, as this varies widely.

Just my 50p's worth!

JasonW_2

I posted this on another part of the forum, but its also appropriate here:

Good old HBOS and their perfect timing. On the day they announced record profits, logged into my online banking today and they are trying to tell me how great going paperless will be. No way, keep the paper coming, I want to eat into those profits as much as possible, cos you pay me a pathetic amount of interest. This account is nothing more than a seive for my money now.

JW

obeywan_kenobe

zcaprd7 wrote:

So you don't have insurance then?

Yes I do have insurance but when my fence blew down under the storm I didnt get a penny.
My wallet was stolen and I was not covered due to an excess clause.
My accidental death policy only pays if I die in a road traffic accident when I am stone cold sober with no illness whatso ever plus a load of other get out clauses.
I also have a critical illness policy that excludes a load of critical illnesses which includes HIV/AIDs. So if i am walking in a street and step on an infected needle then I am not covered(unlickely I know but you see my point).

But I am not bitter

zcaprd7

Well if I was you I would cancel those policies and self-insure?


Off-topic alert:

Seriously, insurance companies are no better than bookies (in fact worse) - when you take out home insurance you are actually betting that someone will burgle your house or it will burn down. You would probably get a better deal if you went into ladbrokes and asked for odds.

If you didn't think anything bad will happen then you won't need insurance?

Except with cars where you have to have it.

obeywan_kenobe

OK but betting is not about how much you can win. Its how much you will lose. So I could win the cost of my premiums every month (£400per annum) but I could lose my house (£250,000).
Bit of a no brainer really