They're at it again!
 

The banks, that is. Link:

Don't they ever learn?! How many more times is this going to come up?

For me, the issue is very, very simple:

I AM NOT PAYING TO GAIN ACCESS TO MY OWN BLOODY MONEY!!!

End of! If I have to, I'll just go into my local branch and go to the counter - and I suggest you all do the same. The counter staff will soon get tired of dealing with little else in a day, I imagine!

Unless they start charging us for that, too!

Re: They're at it again!
 

going to the branch for your money is always an option ,not the most convenient one but still an option .Using a cash machine is convenient that is what you pay for not accessing your money .Personally i'm surprised that it has not happened before .It is not unreasonable for a business to charge for a 24hr service so in that respect it's not unreasonable for banks to charge for 24hr access .Having said that given the profit that banks make it is not adversely affecting their profits having cash machines so it does smack of greed

Re: They're at it again!
 

Indeed Martyh if i could i would choose to have my wages paid to me in cash IE i would not need a bank acccount to access my money,but as companies pay directly into bank accounts now, employees have no choice to start mass charging to access what is after all your cash is simply extracting the ur--e.:(

As it is Banks make lot of cash on money deposited overnight by many people who get paid straight in their accounts,considering interest rates are so pathetic not a lot is given back in my view.:mad:

Re: They're at it again!
 

Ermm. That's the principle of charging you for something because they can. Banks already make obscene amount of profit from the money the store for us. I would also imagine cash points are cheaper for the banks to run than staff at the branch, so I doubt the banks would be pleased to see an influx of customers when they start charging for cash points. I don't see it happening. A flat monthly banking fee would seem far more likely.

Re: They're at it again!
 

This article is from November 2009? Im guessing the whole idea has been dropped? or is it back in the news again? :S

Re: They're at it again!
 

Oh dear :D

Re: They're at it again!
 

D'oh.

Re: They're at it again!
 

It is back in the news

http://www.express.co.uk/posts/view/...ree-cashpoints

Re: They're at it again!
 

Yes, the link is current. :) The idea was dropped; perhaps someone had a brief attack of common sense. But now they're at it again...hence the thread title. :p:

And it is not a service per se; we are doing the banks a favour by putting our money in there. The whole thing is - or should be - paid for by the staggering amount of interest they earn on our money. As far as I'm concerned, the "service" has been paid for, and is still being paid for - it is not free and never has been; like the NHS, it is only free at the point of delivery. This is capitalism out of control; the already obscene bonuses they're still getting are clearly not enough for them!

I wonder, though: if the OFT loses the case, are they all going to do it? It occurs to me that it would be good business sense for one bank to hold off on charging customers (if they can restrain their greed for just long enough...unlikely but possible) until all the others are doing it...then announce that they're not, and watch as the lemming rush of new customers begins. That's how I'd do it, anyway. Of course, the end result of that would be that they'd all jump on the bandwagon, and before they know where we are, we're back at the start again.

It's almost funny. Almost.

Re: They're at it again!
 

I'll just use cashback instead...There are enough 24/7 Tescos and Asdas and open late Co-ops around.;)

Re: They're at it again!
 

although maggy you would not be suprised cashback to be charged too. Infact would not be shocked to see levy charge on ALL transactions from shops to cash withdrawals.

Anyway did anyone spot this nugget

Anybody think this revenge because the hatred to there bonuses.

Re: They're at it again!
 

Supermarkets like giving cash back. It means they have less cash floating around. Less cash = less risk.

Re: They're at it again!
 

well it would depend if they can cushion vast charges though. At moment dont think many do it but once everyone does it could be issue. Would they do a limit to how much they could draw. Look the other situation once all do it there disposable cash for cash transaction would be curtailed badly.

if it escelates to alsort charges which that second link suggests we could be heap trouble.

Does anybody know if this fixed charge one fee or will escelate the more you get out.

Say if you get £90 would it be £2.50 per £10 to speek.

Now give you example on another thread I said got put in wrong account. I got charged for everything I did absolute everything.

I would assume the following will happen

Cheque Transaction charged
cashpoint withdrawal charged
direct debit transaction charged

The bank charges ended upto £100 a month

How many out there can afford that out of there money because this is the sort fees we will be facing. Thats not forgetting the going into red even having authorised overdraft.

Re: They're at it again!
 

Any charges on cash back are accepted by the retailer because it means they have less cash on the premises and they need less use of security to transport that cash.However you must use a debit card.There are charges if using a credit card.

http://en.wikipedia.org/wiki/Debit_card_cashback

Re: They're at it again!
 

what about those who bank with internet banks such as Cahoot or Egg?

Re: They're at it again!
 

what about them ?:confused:

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Have you seen business banking charges? Welcome to my world :(

Re: They're at it again!
 

Good point

Re: They're at it again!
 

Well you could just go into the branch of the bank that owns the firms just as you can now ;)

first direct - HSBC, cahoot - CO-OP (i think), Egg - barclays :)

Re: They're at it again!
 

Some good could come of this. Say all the banks brought in charges for withdrawals, direct debits etc, it would be massively unpopular but if they all do it, we'll have no option but to put up with it.

The time would then be ripe for an up-and-coming financial institution to start up and offer free banking. It may cost them to do so but if marketed in ways similar to how Branson does things, I can see millions of people using them. The other banks would lose customers by the bucketload and I'm sure that sort of loss will make them reconsider their charges.

I might be a bit too ambitious with this idea but in times of unpopular financial decisions if someone can be seen as a financial saviour, who knows?

Re: They're at it again!
 

I swear the banks are operating a cartel...which I thought was illegal.

Re: They're at it again!
 

sadly the banks own our ass they know it world withouth banks you just cant imagine.

Like said sure this revenge to people oposing there bonuses.

You know wish banking system used unique user account codes to allow people to switch so easily they dont have to go arround changing the direct debits as its unique number to you.

We have sort codes to branches then banking accounts number to that bank. Maybe the banking system needs changing to move it to next level of ease of transfer.

Its quite ballache changing banks they know it.

Re: They're at it again!
 

i'm not defending the banks however the Express report does say

Re: They're at it again!
 

When I was young, my parents owned a newsagents. A very profitable one, as we were the only shop allowed to sell papers in the New Covent Garden Market (the one at nine elms, not the public one near The Strand)

We used to bank 10s of thousands of pounds a week, and it used to wind my dad up something chronic that the bank (the Midland, as it was) charged us a lot of money for the privilege of giving them our hard earned cash.

Re: They're at it again!
 

This might sound very stupid question we all know where bank charges come from they make a bank profits right.

The problem lies where does interest derive from. We say banks earn our interest makes them millions but surely these our syphoned off charges.