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Money Moral Dilemma: Should I switch to a greener bank?

edited 30 November -1 at 1:00AM in Green & Ethical MoneySaving
24 replies 11.8K views
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  • 1961Nick1961Nick Forumite
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    We found out that our old bank Natwest was committing fraud - it's part of RBS and they were bailed out previously - to try and get out of the red they decided a good way was to pretend to help smaller businesses, they take them over, fraudulently sign all their assets over to themselves and sell them off to other dodgy people for a fraction of their value.

    People have lost millions, some have lost their homes and many have committed suicide - Noel Edmonds was one person involved in this fraud and he's fought back and is planning to take them to court because the police won't touch it?!

    So when I found out about all of this, I checked Nationwide was ok, decided it was and transferred our account to them.

    I cannot believe what is going on with some banks now, the corrupt conservatives are fully aware but refuse to do anything, some of them are profiteering from this
    If you check your history, you'll discover that it was New Labour that presided over the incident mentioned....and it happened several years ago.
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  • edited 6 June 2019 at 10:40AM
    itsgazza_2itsgazza_2 Forumite
    42 posts
    edited 6 June 2019 at 10:40AM
    Absolutely you should - otherwise you are complicit. Martyn's tips are great, but other things than financial value are more important. The firms that provide great service to customers may well be more morally suspect than one that scores less well. We must research where we are putting our money. I only ever invest ethically, with the help of an Ethical Investor adviser. I encourage you to please do the same.

    I wish I could be as green as you Maureen but I feel I have to balance the ethical/green issues with a reasonable interest rate on my savings..( I need to maximise my interest on savings as these are my main source of income...)
    As such I have picked the Co-operative Bank as they have an instant access product that pays 1.4% a year and they appear to be better than most others ( as someone suggested earlier , look at their Values & Ethics on their web site
  • edited 6 June 2019 at 1:22PM
    db2016db2016 Forumite
    332 posts
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    edited 6 June 2019 at 1:22PM
    a bank is a bank, as long as my money is safe / backed up by the regulators etc.

    and the deal is good and services such as the websites and apps work... i'm honestly not bothered tbh.


    it's like on the DFW boards, whilst i admire you want to keep buying toilet roll thats been through cleaner processes / has less plastic (but costs more naturally). or you wanna give to charity every month.



    if your on the DFW board, then imo i'd cut all the back till your on a better footing, and maybe even give the missed charity payments double back when your more able.



    sometimes morals DO come at a cost! and is better spent elsewhere for a while imo.
  • That's entirely your decision. Personally I would always invest where the highest returns are available irrespective of all this talk about "climate change" - whatever that means.
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