Banking Industry

setmefree

Update on unhappy Egg customers

http://news.bbc.co.uk/1/hi/business/7264344.stm

itsallaboutyou

Right.. I've just read this thread from start to finish, and I'm sure I posted in it before... but maybe not!

Anyway, I have to say although I agree with the sentiments expressed by setmefree - the rationale behind Fedz's explanation is irreputable and makes perfect sense to me!

Personally, as a customer of natwest for a long long time I've been fortunate enough to go from a desired customer - consistently in my overdraft though not necessarily being charged for the privilege...to a waster (to coin a phrase!)

In my less frugal days the answer provided by the bank was a 'financial review'. At this point I always like to paraphrase a conversation my friend had with a banker a few years ago... Basically her OD rate was (for example) 6.6% and they offered her a loan for the amount required at (for example) 7.5% The scary thing is if she hadnt pointed out what the fact that the OD was at a lower rate, my mate would have taken them up on the offer!

Now, almost 5 years later, I'm working for a successful company, earning a good salary and paying a mortgage - now the only time I get any business from the bank is around renewal time every year... when they offer to insure my car or my home for extortionate prices.. And thats the way I like it..

Except for a small amount of debit interest, the bank administer my account for free.

As mentioned, the morale of the story is dont spend what you dont have..

I think some of the tactics used by the banks are terrible and they do charge extortionate amounts. This coupled with a large amount of irresponsible lending which enables people who would ordinarily not receive credit being pre-approved due to their inability to pay... And thats where sites like this are able to help...

Anyway, my 2p...

Tom

setmefree

Credit squeeze on Banks

http://news.bbc.co.uk/1/hi/business/7265828.stm

setmefree

http://www.bbc.co.uk/blogs/thereporters/robertpeston/2008/02/fsa_and_bankers_bonuses.html

Bank Bosses and their bonuses

setmefree

HBOS shares hit a big time low

http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/shares/3/23174/twelve_month.stm

Thailand

itsallaboutyou wrote: »

As mentioned, the morale of the story is dont spend what you dont have

I agree with alot of what you say, but if only the banks would allow the above to happen. Of course they refuse to, because if banks didn't allow us to dip one penny into the red, they would be a few Billion short of robbing from the poor. Of course they could stop us from doing so, but that wouldn't bode well, would it. :rolleyes: (I know, lets blame the poor instead, hee hee, the money people will buy into that!)

Apart from the misery it causes, I find it hilarious - the notion of 'don't spend what you don't have' of course.

Banks could refuse the payment, but they don't. There are still fools out there that believe they are saints for doing this, that will never understand the Banks do this on purpose, to cream of the vulnerable. :rolleyes:

Money makes money. Society, eh? What a joke.

Don't get me started on free banking either, another myth floated by the banks to alienate the 'poor' persons argument. They do not know when to stop.

What gets me is that all this is caught on tape, not that I need to see it - I know it, but people still don't see it. Strange.

Volvo anyone?

setmefree

My heart bleeds for them, the same way there's has when they have ripped off millions with their charges

http://newsvote.bbc.co.uk/1/hi/business/7306058.stm

Thailand

OI SMF!! I woke up in a good mood. Listening to Angie spouting her gubbins doesn't bode well with my blood pressure!

How that creature sleeps, I don't know. Need a fix of Martin putting that crettin in it's place now. She makes me sick. Damn her to hell, and her feculant lies.

Emotive? You bet it is!

setmefree

Thailand wrote: »

OI SMF!! I woke up in a good mood. Listening to Angie spouting her gubbins doesn't bode well with my blood pressure!

How that creature sleeps, I don't know. Need a fix of Martin putting that crettin in it's place now. She makes me sick. Damn her to hell, and her feculant lies.

Emotive? You bet it is!

I agree with you 100% Thai, boiling her in urine and then infesting her butt hole with the fleas of a thousand would be too good for her.:rotfl:

Thailand

Far to good, nothing short of hell will right her plethora of wrongs.

Greed. It's a terrible thing, I always knew that this regime of Bank charges would be returned on them, threefold. It's natural justice (Thank god, if we were to rely on the Courts, the government & it's toothless agencies, we'd be up chit sreek without a paddle). Targets; the desire to achieve the highest possible revenue for the banks (not limited to them), this leads to any measures being used to achieve them, not matter how unethical. Then there is competition from thier rivals which further encourages them!! Then they have the ruddy cheek to get someone like Christine Farnish or Angela knight to justify it. Bar stewards. I recall Christine saying, and I quote 'Customers are delighted with our service' LMFAO.

Of course the rich and the unsuspecting don't see it. All the while it's perfectly obvious that they are breaking the law (as proven many many times) but they get out of it (temporarily, I hope) by abusing the Courts, thier customers & and anything that dares to get in thier way. I'm sure I herad someone say that they believed a banks 'gesture of good will' was reasonable!! LMAO!!.

I would like to see the death sentence returned.

What power money is.

Rant over!