Is it moral to churn bank accounts?

gaving7095

"Is it immortal?" No.
Is BANKING "immoral" - well yes, because charging interest is "usuary".
Is this a good Money Moral Dilemma? No - it's probably the worst one I've seen yet :-)

Seriously, what's the point of the question, even if theoretical? Are you going to find out which ones he hasn't used yet & warn them about him?!
"Mrs Patterson, Mrs Patterson - You forgot to give us homework!"

Floss

GingerFurball wrote: »

....It's all challenger banks like Halifax, M&S, First Direct and Co-op....

How can you call First Direct a challenger bank, they've been running for 25 years, are part of HSBC, and have been top at customer service virtually every year since opening.

savewhereyoucan

Take what you can from the banks as they will take what they can from you. I have just made £260 M&S vouchers from playing the banks in 15 mins at my computer!

antrobus

GingerFurball wrote: »

B.... It's all challenger banks like Halifax, M&S, First Direct and Co-op ....

Floss wrote: »

How can you call First Direct a challenger bank, they've been running for 25 years, are part of HSBC, and have been top at customer service virtually every year since opening.

How can anyone call the Co-Op a challenger bank, they've been running for almost 150 years? Established in 1872 as it happens.:)

P.S. M&S is also a subsidiary of HSBC

P.S.S. Halifax is a division of BOS and part of the Lloyds Banking Group.

jgrumpy

I'm unemployed and living on benefits, ie I'm an OAP. I've just had£330 by switching accounts, £100 each from M&S, Coop and Halifax. Also £30 wine voucher from M&S credit card. I think of it as a bit of compensation for the greedy banks ripping us off for years. Every Lidl helps!

Vortigern

The banks' morality was defined by Fred Goodwin and Paul Flowers. By their standards I'm squeaky clean.

tallgirld

Totally moral. Sod the banks they've been screwing people over for years!

Seakay

I don't think that it's more or less moral that eg sending off for free samples and then not buying the actual item on a regular basis.
It's a tempter to get you to choose a particular service; the hope is that you'll be too thrilled or lazy to move after changing.
I don't think that not doing what is hoped has a particularly moral dimension, any more that tempting potential customers with a short term offer does.

gloriouslyhappy

''Is it moral to churn bank accounts?''

yawnnnnnnnnnnnnn

happyinflorida

LOL Are we really discussing banks and morals in one subject?!! REALLY?

We are talking about banks - the most immoral bunch of bar stewards in the UK. They are responsible for practically bankrupting the UK.

They have been GIVEN £3BILLION pounds of OUR money - not a loan, no interest being charged, just given by our corrupt government due to their IMMORAL BANKING HABITS which led to a big shake up. Why we bailed them out I do not know, except it is proof that our leaders are corrupt and are quite happy to throw money into the hands of fraudsters.

Iceland arrested and jailed their corrupt bankers - we give ours £3BILLION pounds. I know which country I think deals with things better.

We should have let them go bankrupt - it would have done nothing to us.

Do not worry about getting a tiny bit of money out of these con-artists, in fact, go for it big time. They should be hung out to dry, they should all be in jail for what they have done and are doing.