Triangular Transactions?!

mikewebs

Well, I've heard it all now.

I've just come back from my local Natwest branch (who I bank with) where I tried to pay a British Gas bill (BG bank with HSBC) with a cheque drawn on a Co-op bank. The British Gas bill was for a Church. Apparently, this is called a 'triangular transaction' and banks no longer do these. Now I worked in a bank 20 years ago and we accepted all sorts of interbank payments, handwritten bank giro credits. Now you can't write a bank giro credit, you can't pay a bill unless you go to the bank of the payee or the drawer. Surely this is stupidity to the n'th degree?

Banks have been getting away with charging us the customer for far too long and now they seem prepared to refuse to accept payments for certain banks. Are we moving forward, or are we going back to the days when banks offered very limited services? They only seem interested in making money from insrance, mortgage, savings and not from day to day transactions.

It is about time banks realised they are there to serve customers met our needs - not pick and chose what money they will accept.

changkra

Unfortunately the banks will do as they see fit regardless of whether or not the operate within fairness or the law it seems. They changed their attitude toward the customer when they made it so all wages were paid into a bank, thats the point they started working against the customer. They need a big shake up after all they are employed by us to look after our money, not the other way round.

IvanOpinion

mikewebs wrote: »

It is about time banks realised they are there to serve customers met our needs - not pick and chose what money they will accept.

This may be the crux of the matter ... they did not have any money only promisary notes which could be withdrawn at any point of time. I remember when you just signed the back of cheques etc. (and remember some with about 10 signatures because they had never been cashed just moved around) ... banks got bitten far too many times by the consumer so hey simply withdrew the service ... they would call it good business pracice.

ivan

Elaine_Wilson

Why didn't you just post the cheque? Or send it by courier?

If you needed proof of delivery then the Special Delivery service would provide this.

I'm not exactly enamoured with the banks' business methods but I can understand them not wanting to provide a free service where other people are charging for essentially the same thing.