Opening a new bank account for benefits only?

Morglin

Goldie4711 wrote: »

I'll contact Stepchange.....thanks for advice.
Also, you say ---
**You can certainly open a separate bank account, to stop your current bank grabbing your benefits**.
Is that legal? It all rests, I believe, in determining the legislation that governs this issue. i shall contact Stepchange.
Thanks, once again..:beer:

There was legislation to stop banks grabbing benefits for charges (but that may have changed).

However, it always was and still is 'legal' to open a bank account, purely for benefits, wages, direct debits etc., Many people do this.

But, yes, do talk to Stepchange, as they are well versed in how to deal with banks etc.,

Lin

Morglin

BillJones wrote: »

Wow. The OP spent the bank's money, yet it is the banks who are being greedy?

I genuinely can't even start to work out how different our moral outlooks must be that you'd be able to write the above with a straight face.

I have never owed a bank much, and owe them nothing now, but I don't think we need to be crying in our cups about the 'poor old banks' lol:rotfl:

Yes, banks are probably the greediest organisation put on this earth, and I think they lack any sort of moral compass.

They are the only entity in Britain more despised than politicians. :eek:

When I look at the pitiful amount they pay me, on investments, I can only take cheer from the fact I take out their interest free, Cashback cards, get the max from them, pay them what I owe......and then close them. Not a penny do they get from me, and they pay me, via the Cashback, to use their money..... :T

I assume, by your stance, that you have never been unemployed? :think:

Lin :j

dippy3103

Morglin wrote: »

I can only take cheer from the fact I take out their interest free, Cashback cards, get the max from them, pay them what I owe......and then close them. Not a penny do they get from me, and they pay me, via the Cashback, to use their money..... :T
Lin :j

Satisfying isn't it

Morglin

Yeah, must say it is, when you consider the state our banks and financial institutions got his country into, with their greed....:mad:

We then bale them out and they still sit, like pigs at the trough, for their bonus's.:mad:

My brother is a senior manager at one of the Big Four, and looking at him and the rest of them, I have no sympathy, although I do accept that the grass roots staff aren't to blame.

Lin

Goldie4711

NYM wrote: »

They were disproportionate charges based on the management of accounts. They were not wiped out because someone couldn't manage their personal borrowings.


Then please don't introduce ridiculous scenarios in an attempt to support your biased reasoning.

I managed my £800 overdraft very well, thank you...then , when as through no fault of my own and becoming a mix of long term unemployed / on the sick - and paying £60 per month extortionate charges and unauthorised charges, I soon got to £2k i.e NOT through mismanagement of my account.
I will always debate, as long as it doesn't get too personal, but can we stick to the subject of the thread, please?

Goldie4711

Great posts by Morglin.

wildwestfan

Morglin wrote: »

There was legislation to stop banks grabbing benefits for charges (but that may have changed)

Lin

There never was otherwise there would have been no need for a court case.
The term 'charges' related to something else entirely, this was explained on a daily basis but some people still think it existed.

Goldie4711

@Wildwestfan
Your exciting name reflects your vicarious wish to live the exciting lifestyle, but you're still a banker / (Big 4 trained) at heart.
That wasn't facetious - it's just a fact.
if you can contribute something to this thread which DOESN'T reflect your political leanings and background......and just concentrate on answering the question posed by the thread, it would be appreciated.
You won't get much sympathy for the banks on this forum....it's a consumer forum, remember?
If all you want to do is goad me because you support the banks, then I think that is inappropriate and would ask that you please don't respond to this thread...
I'm looking for practical advice....not your personal beliefs.
Thanks.

tomtontom

Your question was answered in the first few posts. What further information are you looking for?

wildwestfan

Goldie4711 wrote: »

@Wildwestfan
Your exciting name reflects your vicarious wish to live the exciting lifestyle, but you're still a banker / (Big 4 trained) at heart.
That wasn't facetious - it's just a fact.
if you can contribute something to this thread which DOESN'T reflect your political leanings and background......and just concentrate on answering the question posed by the thread, it would be appreciated.
You won't get much sympathy for the banks on this forum....it's a consumer forum, remember?
If all you want to do is goad me because you support the banks, then I think that is inappropriate and would ask that you please don't respond to this thread...
I'm looking for practical advice....not your personal beliefs.
Thanks.

I gave you the only advice possible for your situation in my first post in the thread. Post no.6.

Not my fault if you are convinced someone is going to wave a magic wand that will allow you to avoid your responsibilities.

Have to say I don't blame the banks though I do blame people who borrowed irresponsibly and are now complaining that it is all someone else's fault.