Barclays!!

dannyp86

Just seen the main headline on channel 4 news, barclays have been fined huge amounts due to gambling then influencing the market to 'win'with bob diamond et al's 'bets'
I bank with barclays, do i make a rash decision and get out quick? or will this not effect the common customer?

Sailmakers

This will have no impact on you.....relax.

agrinnall

Where would you go to anyway? The story on the BBC website suggests that Barclays are just the first bank to be hit with a fine, it would be ironic (if amusing for the rest of us) if you moved your money to another bank only for them to get an even bigger fine!

TheBanker

dannyp86 wrote: »

Just seen the main headline on channel 4 news, barclays have been fined huge amounts due to gambling then influencing the market to 'win'with bob diamond et al's 'bets'
I bank with barclays, do i make a rash decision and get out quick? or will this not effect the common customer?

What do you think is going to happen? Do you think Bob Diamond is going to withdraw £5 from each customer's account in order to pay the fine?

Don't worry. Even if the fine was enough to bankrupt Barclays*, the FSCS would pay out up to £85k.

*There is no way on earth that the regulator would impose a fine if the fine were going to impact on customers in this way.

sb44

agrinnall wrote: »

Where would you go to anyway? The story on the BBC website suggests that Barclays are just the first bank to be hit with a fine, it would be ironic (if amusing for the rest of us) if you moved your money to another bank only for them to get an even bigger fine!

Just been listening to Radio 5 live and lots of people saying they have had enough and are moving their money elsewhere.

People saying moving funds to local building societies etc.

The only thing with that is lots of bs accounts are passbook based and I don't think have facilities to pay dd's etc.

Does anyone know any bs that have dd facilities for passbook based accounts?

Gonzo33

I bank with Barclays I am staying exactly where I am. Mr Gonzo banks with NWB, he is moving to Barclays partly for personal reasons and part because of the latest fiasco.

If we all moved bank accounts every time a bank was fined we'd have changed banks thousands of times over the last few years.

Dr_Cuckoo3

sb44 wrote: »

Does anyone know any bs that have dd facilities for passbook based accounts?

http://www.ybs.co.uk/savings/easy_access/cash_transactor.html offers a passbook and direct debits

at least four other building societies offer direct debits , but not with passbooks - Nationwide , Coventry , Leeds , Cumberland (they are current accounts and cashcard accounts)

rb10

sb44 wrote: »

The only thing with that is lots of bs accounts are passbook based and I don't think have facilities to pay dd's etc.

Does anyone know any bs that have dd facilities for passbook based accounts?

Many building societies offer full facility current accounts.

Not just Nationwide, but Norwich & Peterborough, Yorkshire, Coventry, Leeds, and some more

GillyR-J

The biggest mutual is the Nationwide and they do have card accounts,there is also the Yorkshire Building society but I am not sure what kind of accounts they have. I suppose you could also look at the Co-op bank as they have an ethical code and I think the Brittania building society is linked to them. Don't forget there is your local credit union which is good for savings but also provides small loans if people suddenly require them.

iltisman

I would rather be with a shifty unethical bank that makes a profit than some green ethical bank for nut cutlet munchers.

abaxas

iltisman wrote: »

I would rather be with a shifty unethical bank that makes a profit than some green ethical bank for nut cutlet munchers.

Huge difference between ethics and fraud/criminality.