Co Op to stop basic accounts for BR

alastairq

I don't think its can possibly be in a banks remit to be forced to provide a service that doesn't benefit them. They are a business ultimately and have to make business decisions. What I do think is that the retail and investment arms need to be run as totally seperate entities. How this is done is a different matter as banks may feel they need to move their operations to circumvent this.

What I would have suggested is the government should have gone the extra mile and nationalised one of the banks it bailed out. RBS would have been the prime candidate. it could have then used this to provide the service you are talking about as well as getting the alleged funds meant for small businesses and home loans out to the people that actually need them. Problem with this is that we all know we have been lied to, this 100 odd billion wasn't meant to kick start the economy, it was purely and simply for the banks liquidity as there are still major underlying issues on the bonds markets that will only get worse.

Basically what I was trying to get across, but which isn't happening!

Banks maintaining a High St presence [as distinct from the investment arm] could and are 'licensed'.....as are many other public service utilities.

Licensing involves rules or conditions, the imposition of which should not necessarily be from a commercial consideration, but of public need.

It happens with the licensing for train services....the licensee has to bite the bullet over any loss-making stipulations.

ruis72

if it's any help i moved to Northern Rock when I was BR and had no problems, wages paid in and direct debits/standing orders paid out. I've even got a debit card now!!

fermi

News - Change of insolvency law to help more bankrupts open bank accounts