Banks ain't what they used to be.

RayWolfe

Oh, right!
So the fact that I have never paid a single penny on:
-bank charges
-overdraft interest
-credit card interest
for at least 25 years, shows just how they are ripping me off.
OR, that I manage my finances fairly well ... and no, I am not mega rich or even up to average earnings.

tradetime

RayWolfe wrote: »

Oh, right!
So the fact that I have never paid a single penny on:
-bank charges
-overdraft interest
-credit card interest
for at least 25 years, shows just how they are ripping me off.
OR, that I manage my finances fairly well ... and no, I am not mega rich or even up to average earnings.

Perhaps you mistake the direction of my post, I manage my finances very well also and as such have never been directly charged for any overdraft, credit card interest etc in about the same period of time, however I am not naive enough to assume I have free banking. When it takes 3-4 days to transfer electronically money from one bank account to another, and I look in the sending account and the money has been debited, and I look in the receiving account and the money has not yet been credited, you don't think someone is making money from that??. When they drag their feet passing on interest rate increases to savers, and break their necks to get the interest rate cuts in there, you don't think as a saver your paying? There's no such thing as a free lunch, I'd just prefer the bill to be clear and transparent.

MABLE

viking30 wrote: »

I remember the days when if you needed an overdraft or anything you called the branch where your account was held and actually spoke to the manager. He/she knew you and you knew them. They were able to give you on the spot answers and advice.
The good old days? i think so

I also remember when HSBC was called The Hongkong and Shanghai Banking Corporation.

They were the good old days provided the bank manager liked you. I can remember many, many years when I first opened my account with Lloyds and wanted a £150.00 overdraft. I was granted this and when paid back I requested it was available on a regular basis. The assistance manager said if it were up to him then he would agree it but he advised me the manager did not like me and it was rejected.

At least credit score systems. are impartial and dont require you to take them out TO dinner once a year.

I would further add I am still with Lloyds but changed branches about 25 years ago and have them brilliant. Well done Woodley branch.

RayWolfe

tradetime wrote: »

Perhaps you mistake the direction of my post

No I don't.
I just don't think that any business is not allowed to make a reasonable return on it's assets. Tesco, may think it's giving me money off when it gives me loyalty points ... I know that it's charging me a penny more and returning it in 3 months time. But I could go to Sainsbury's if I were unhappy with that.
Banks, are of course going to give instant transfers later this year, but even without that, if you think an organisation is going to make a good return from holding 2 days interest on my BACS transfers, then I will disappoint you by saying, "not from my activities, they don't". Meanwhile, they give me reasonable credit interest, instant access to a high rate Internet account, statements, secure Internet access, cheques, DDs, SOs ... all things I value.
They are by no means perfect, and some are downright awful, but there's a competitive market out there and if you chose your providers carefully you can get a reasonable deal.
Try banking abroad, if you want to pay for your banking services.

tradetime

Tesco, may think it's giving me money off when it gives me loyalty points ...

Don't worry Tesco knows exactly what it's doing

They are by no means perfect, and some are downright awful, but there's a competitive market out there and if you chose your providers carefully you can get a reasonable deal.

That would depend on you definition of a good deal, but the fact remains banking isn't free, never was, never will be.

Try banking abroad, if you want to pay for your banking services.

Thanks, I've banked in several countries around the world, they all have thier twists and kinks, but the bottom line is that they're all very similar when you even out the bumps and the bends. Which takes us back to my original comment, there's no such thing as free banking, whether they present you with a bill or pick your pocket.

Having said all that, if you're happy with how banks treat you then you're happy, and it's not for me to tell you that you should feel any other way about it

BallandChain

I remember when Lloyds Bank used to have wood panelling on their walls and they came across as very important and professional......

richard9991

i remember if you wanted to cash a cheque in barclays and it was not your branch and had not det up arrangement they charged you 50p for a phone call to your branch also when cash machines came out i think it gave you a quid about 10 times then retained it and sent it back to you end of month if still in credit but i liked having the personal touch of the branch used th sh..t self if cashing cheque and the manager wanted to see me tho lol

walesrob

YorkshireBoy wrote: »

....is having to keep £100, and latterly £50, credit balance in my Yorkshire Bank current account

We are lucky in the UK to have such a customer friendly banking system, elsewhere, its a different story...

I have an HSBC savings account in the Philippines, and they require something called a "relationship" balance of at least £50. If I go below that, HSBC will close the account. My wife had a current account at another bank in Philippines, and she went overdrawn by a few pounds, so they responded by closing the account that day without warning. Its quite normal for banks to do this over there, they seem to regard unauthorised borrowing as evil.

PROLIANT

Well, I have sampled a few Bank accounts, I have just moved over to Halifax as my relationship with Alliance and Leicester has soured some what, HSBC, Barclays and Lloyds will not entertain me, Halifax however took the time to review my credit file with an Underwriter and gave me an account instead of relying on this so called "fair" and "impartial" (not) credit scoring system, hopefully this will be my final move.

steady__eddie

Banking, I find nowadays is so impersonal. Staff are too busy trying to sell additional products and in my opinion lack a sense of humour.
Prior to Big Bang, I used to have the occasional punt on the stock market and would apply for a loan under the guise of having double glazing fitted or something similar, in order to finance my sharedealing. Yes I know it's naughty but I did have the resources to cover the loan if things turned sour (which they never did) and I would pay the loan off as soon as the settlement cheque arrived leaving me with some comfort spending cash. After one such visit, the advisor said to me after approving my loan application, "If I were you, I would change your supplier of double glazing". When I enquired why he replied, "Well, this the third time in 18 months that you've had your house double glazed, I believe that the industry standard suggests that it should last for at least 20 years".
After I left the forces in the '70s, I notified the bank of my new permanent home address. In the months that followed, my bank statements were addressed to :- Corporal steady_eddie etc.etc. After several years of military rule which I then did not want to be reminded of, I wrote to the bank informing them of my change of status in civvy street. Shortly afterwards, I received a reply from the manager no less stating that, "The bank are pleased to confer upon you, full civilian status". All future correspondence was addressed to Mr. steady_eddie.
Personally, I prefered the laugh that I had with the banks years ago to the laugh that they're having now.