Banks

[RockySpears]

22 hours ago, Wb123 said:

When they can borrow from the Bank of England at next to nothing and are so limited in who they can lend to by historical standards my understanding is that the banks simply don't need our money. In older times they needed our money to lend out but now current accounts and savings accounts only yield any profit via charges or people sticking with the same provider for credit. 

 

I suspect it it is only a matter of time before charging for current accounts is the norm unless there is a significant shift in how the system works. Halifax have looked after my current account and credit card very well for years and it won't have made them a penny, not viable for the long term. 

[RockySpears]

  I change banks (or at least they think I do) whenever an decent offer is made, TSB just gave my family £1250 (5x£250) when we all "appeared to switch to them.

  I open Bank accounts all over, this means I have something to "switch"" from.  Each has a Direct Debit or 2, Gas, electric, Council tax, Water, Insurance (yearly), phones etc etc, they only ever seem to want 2.  Transferring in £1,000 or so a month and moving it on to the next means you comply with their In/Out requirements.

  They do not care for us, so we should not care for them.

Oh, and it is they who are responsible for most of our current ills (and have been for many decades).

Yours,

RS

[Archie-fox]

On 19/11/2017 at 09:21, BrowningDJC said:

Swapped everything to nationwide a while ago, faultless service and won’t shut branches.

Same for me.

[elgreco]

I’ve just opened a Monzo bank account, the new internet bank. Slightly biased as my son is part of the setup

cheers

Tom