would you pay for Banking services?
 

you may well have to soon.

I've posted before that to the vast majority of personal customers you get a very good deal. the Banks look after your money, process all your cheques/DDs, STOs, provide networks of thousands of cashpoints for you to withdraw money and even pay interest on your money with no charge to yourself if you stay in the Black(or even an agreed OD limit). In europe people generally pay for Banking services per transaction

Its also widely publicised that people were claiming bank charges back as they were being told they were unfair.

now the law lords are going to decide if overdraft charges are fair or not. what this means is if they decide they aren't then the whole charging model for Banking will be up in the air which could lead to each and every person irrespective of how they run their account paying for Banking as a 'service' in teh same way you pay for gas/eleccy, Water etc.


So, with this in mind are you for or against the charging for unauthorised overdrafts?

Re: would you pay for Banking services?
 

Well I've never thought about it myself entwisi, I have an overdraft facility on my account, just in case, but have never used it, as I've never been overdrawn. You can't actually say that banks are hard up, when after all that's gone on one guy can be given £9.2 million salary. :rolleyes:

Re: would you pay for Banking services?
 

there is a lot more to Banks than retail customers you know... ;) In fact mots banks make a loss on retail customers but good profit in teh markets

9.2 million yep, thats a lot

Re: would you pay for Banking services?
 

I remember the days when current accounts had bank charges just for the priviledge of having one.:eek:

It didn't seem fair, and still doesn't, for banks to charge when an account is in credit - they have use of/interest on that money, which I consider equivalent to payment.

I think that charging for overdrafts and loans is reasonable, but should reflect the actual costs to the bank - ie no sharking thank you.:mad:

Re: would you pay for Banking services?
 

See I'd say they need our money in order to play the markets... except if the banking crisis has told us anything, they don't, they can just play the markets with money they don't have. :D

Re: would you pay for Banking services?
 

I am for those people who take an unauthorised overdraft paying for that facility.

I have accounts that do not go into the 'red', have never used the overdraft facility......and what is more the bank is using my money and giving me little or no interest......so No, I don't want to be paying for services.

Re: would you pay for Banking services?
 

I present another aspect. My wife & I have a joint account with Alliance & Leicester. It is only for over-50s. I pay £10 a month for using it and keep very little in it. However, it gives both of us free travel insurance world-wide. For me to have to buy that would cost a lot more than £120 a year. I was paying more than £120 before I took this account on. There are also some other benefits, but I have forgotten what they are - perhaps credit card protection is one of them. Another is a free ( 1 per year) private medical examination. How much would that cost? The insurance will last until we reach 79yrs of age. Most travel insurance only covers up to 70yrs of age before you pay very high premiums. It is certainly worth looking at.

Re: would you pay for Banking services?
 

Hmm, I was recently offered a 'Signature' account by my bank.....pay £120 per year.......get green Flag breakdown cover, credit Card cover, gadget cover and travel Insurance........and the girl said it was a good deal.......and so it is if you want those benefits.
We have breakdown cover on our car......with the RAC......it was 'free' when we bought the car.......I have credit card cover, my gadgets are covered on my house insurance policy.....and as for the travel insurance,well, that was only for a maximum of 28 days.......which is Ok unless like you want to travel long haul.......we wouldn't go long haul for anything less than 42 days.......so when I considered it, I felt that it didn't really offer us anything we really wanted......and I am loathe to get into the pay for banking situation unless it is really forced on me.
I don't think it is fair to charge folk who have never gone into the red.....or taken an unauthorised overdraft.
The bank has the use of my money.....and I get very little interest on either the savings or current account......so much for being prudent eh?

Re: would you pay for Banking services?
 

I too use additions plus from Barclays though as staff we getit for 1/2 price so 7.50 /month for me.

car breakdown insurance for both Julie and I used to pay 150 /year for that alone

travel insurance, card protection, mobile phone insurance, will writing, extra warranty etc is all benefits that we make use of.

IMHO it works for me, may not for you and thats fair ewnough, its about looking at whats on offer and if you can save money elsewhere...

Re: would you pay for Banking services?
 

Yes, you are right, if it means that you get benefits that you can use, then it is worth it.......but it really wasn't worth considering for us......the girl was dead miffed when i told her.
In fact I am a bit cheesed off with the selling that the counter staff try to do these days.
I just want to go in and do the banking business that I have to do and get out of there.
I might be retired, but that doesn't mean I have time to listen to selling spiel every time I go in to deposit a cheque.

Re: would you pay for Banking services?
 

I've overcome that obstacle Margaret, I send my Daughter, works for me:D

Re: would you pay for Banking services?
 

You can always join Benis bank.I can guarantee when I lose your money it won't cost me a penny.:hehetable

Re: would you pay for Banking services?
 

Glad to see you've come back from your holiday refreshed and ready for the fray Beni:D

Re: would you pay for Banking services?
 

Thanks for that Jay,just been checking on the health of Max Bygraves - Got him in a treble.:D:D:D

I could tell you a story - But I won't.

Re: would you pay for Banking services?
 

Go on Beni be a devil:dflam::D

Re: would you pay for Banking services?
 

I had two calls in ten minutes from the same bank yesterday. The first person rang, a man, spoke to me so slowly and monotonously I thought he may be about to pass out. I had to go through security check:

Him: 'Can I have your address please?'
Me: 'This is a student account, will that be term time address or home time?'
Him: 'I can't tell you that'
Me: '[recites both addresses]'
Him: 'Postcode...'
Me: '[Recites both postcodes]'

Then he asks other security questions...

Then he tells me which address it would be for future reference.

He then goes through the fact that I have charges on my account for going over my overdraft. I ask him for a break down of the charges and he says I've been over my overdraft for a few months (which I know to be a lie) and he then goes on to say that I have been over since December (which is a lie because my student loan goes into that account) so I went mad and said I don't want to be told about irrelevant previous charges to justify current ones, and that I would not be continuing the phone call with someone who is incompetent at their job. I wouldn't mind but I'd already been in about these charges the week before because they had told me to go into the branch to see what they could do for me, and they couldn't do anything! Well, couldn't or wouldn't.

5 minutes later a woman rang. I said 'I've just got off the phone with this bank. I'm not going through it again.'

She then has the nerve to say 'We have no record of this on our database so I will have to take you through the security check.'

Finally losing my temper, something which is a rarity, I said 'I don't think so, I've said this once and I'll say it again, I'll go into the branch and speak to someone there.'

I'm earning a nice amount of money in the Summer. It isn't going into that account. They can wait until October when I get my student loan.

I hate banks, mostly because they're simply unwilling to help because they can get more money out of you if they refuse to. I hate their incompetent staff. I hate their false 'happy to help' themed advertising. Happy to help you put your money in perhaps, but not so happy to help you out when you need it most.

*breathe in, breathe out*

Re: would you pay for Banking services?
 

Not the best move you could make, surely your charges are going to be rising all the time? Your loan will be eaten away at before you start thus you will incur even more charges. If it were me I would try and get it sorted before the loan went in

Re: would you pay for Banking services?
 

Banks are only in it to make money, not to provide a service. I don't have an overdraft facility and don't use credit cards for any thing. Can't spend what I haven't got, simples.:)

Re: would you pay for Banking services?
 

entwisi ..do you live in the 1900's? the banks are no longer a service for the rich to borrow from..for the vast majority a means of transfering money from A to B...the way things have progressed over the last 30yrs means they are a basic thing of living and some should be held by the Government free of charge.

Re: would you pay for Banking services?
 

I'd rather enjoy my summer than spend it all immediately on charges.

Re: would you pay for Banking services?
 

It wont line your pocket but those of a liquid dealing kind. ;)

Re: would you pay for Banking services?
 

In principal I am not against paying for their services as we pay for services from all kinds of institutions whether they be the council RAC AA mortgage etc. What has me wary is how they would go about this without all the small print and corparate jargon that we normally see from them. People of a certain age can benifit from some as has been mentioned. But and a big but is what about those of a certain age that might not really understand it and just sign up with them just to get peace or thinking its safe?

This kind of action needs serious thought and trials to be acceptable to people. Always believed that banks paid interest on current accounts because they were considered an asset and could be used to up their star in the market. They used this this money in a virtual sense and as a result you got the reward of interest. This is how they fund mortgages as well is it not. Might be wrong so can I be re-educated if I am?

Re: would you pay for Banking services?
 

Bankers have greed as their way of life.
Rothschilds and Rockerfellers own the world.

Re: would you pay for Banking services?
 

nope, I live very much today if not tomorrow!

so you believe the goverment should provide a Banking service for nothing, lending money willy nilly with no 'fines' for breaking teh rules? sounds like a lawless society to me.

If you manage your money within agreed limits ( either in teh black for those who prefer that way or within an agreed overdraft for those who live that way) then Banking costs you nothing. someone protects your money for you, gives and manages all the payments and withdrawals you desire for nothing, trains and provides you with experts to advisze you in investments to help you make your money grow and you want it all for nothing.


errr. why not go and ask Mr Tesco for your shopping for nowt as well seeing as eating is also 'a basic thing of living '


re spuugie, the reason there is so much jargon and small print is due to the goverment and the legals that set the rules by which Banks have to operate. Just like a contract in any other arena of life, if its not written in a "set in stone" way then it would be open for legal challenge and even prosecution by HM gov.

Re: would you pay for Banking services?
 

Its only through Government meddling, or should I say Gordie when he was the Iron Chancellor, that the banking fiasco was allowed to happen in the first place, if he'd have kept his sticky little fingers out, and not relaxing regulations then we wouldn't be the worst country in the modern world to handle the recession, with the economy liable to shrink by 4.3% this year and the country at the bottom of the pile when it comes to recovery, 2032 before things are back to 2008 levels, and they ain't finished yet, watch this lot doing a great impression of a headless chicken or like watching the Keystone Cops on Speed doesn't exactly fill the world with financial confidence in Britain, will no one ride us of these turbulent Scotsmen and soon

Re: would you pay for Banking services?
 

It is rapidly reaching a stage where money isn't worth the paper it is printed on.
The banking system is a big 'paper chase' built on trust,
and that trust is on its way out good style.