I hate banks

Discussion in 'OT (OFF Topic) Forums' started by Palfrem, Mar 24, 2013.

  1. Palfrem

    Palfrem Hardcore MB Enthusiast

    Messages:
    2,957
    Joined:
    Aug 11, 2005
    Location:
    Solihull, near Birmingham
    Car:
    W124 E36 AMG, G 300 GEL his, SLK 200 hers
    How do they do it?

    Just looking at my Santander current statement on line and there is a debit dated 25.03.13.

    How can that be?
     
  2. developer

    developer MB Club Veteran

    Messages:
    8,165
    Joined:
    Dec 28, 2007
    Car:
    S212 E63 S
    Halifax do the same - it's "the system" again.
     
  3. SPX

    SPX MB Club Veteran

    Messages:
    15,466
    Joined:
    Aug 29, 2010
    Location:
    Ap Norf
    Car:
    That one
    Don't know but don't you think it's good that you can, for free, look up your account details online?
     
  4. mika

    mika Hardcore MB Enthusiast

    Messages:
    1,895
    Joined:
    Aug 30, 2010
    Car:
    mercedes
    i dont like them either and i am concentrating my attention to use and rely on them less and less as time goes on
    they are truly hopeless when you need them and much the same when you dont

    good luck
    im sure their reasoning will be hilarious
     
  5. OP
    OP
    Palfrem

    Palfrem Hardcore MB Enthusiast

    Messages:
    2,957
    Joined:
    Aug 11, 2005
    Location:
    Solihull, near Birmingham
    Car:
    W124 E36 AMG, G 300 GEL his, SLK 200 hers
    Yes, it's a wonderful facility. It probably means they need less staff in the branches though. So that's a bit of a shame.

    Not sure about the "for free" bit though but I admit I don't charge charge them for doing their work.
     
  6. trapperjohn

    trapperjohn MB Club Veteran

    Messages:
    7,316
    Joined:
    Nov 19, 2008
    Location:
    Lancashire
    Car:
    124 300D 24V Estate
    I find it wrong, holey wrong, that banks can take money out at the weekend for DDR's and stuff but it works in "working days" to even cash money in.

    Grrrrr.
     
    4 people like this.
  7. trapperjohn

    trapperjohn MB Club Veteran

    Messages:
    7,316
    Joined:
    Nov 19, 2008
    Location:
    Lancashire
    Car:
    124 300D 24V Estate
    Here is me having a rant elsewhere (its a copy and paste) about me working for a famous supermarket.

    Shopping Rant about Asda (other shops are available) How come the change shoot is so small in the automated checkouts? You cannot get your hand into the "bellend" (for the want of a better word) where the change comes out.The bloody till then starts to nag you if you do not move along quickly enough. I only used to shop at Asda - I now appear to bloody work there. I weigh and price me own veggies. I punch in sticker codes. I "zip" stuff through the self check out. And the latest wheeze is a normal checkout (for say more than ten items) that is now automated too. FFS if you are going to do that put your prices down not up and give me "colleagues" rates at the till. Include me in your pension scheme and invite me to the staff parties. Oh and give me a mop and Ill clean the floor on the way out. Rant over.
     
    8 people like this.
  8. Watchcame430

    Watchcame430 Hardcore MB Enthusiast

    Messages:
    1,949
    Joined:
    May 20, 2012
    Car:
    1994 SL500 and 2003 Designo S500
    My online statements always show whats coming out in the next couple of days with dates.
    They can tell in advance?
     
  9. Bobby Dazzler

    Bobby Dazzler MB Club Veteran

    Messages:
    15,344
    Joined:
    Jan 21, 2005
    Location:
    Mittel England
    Car:
    ML AMG-line Black Series
    I suspect it's a direct debit which fell due over the weekend, and was processed over the weekend, but which will not be paid until the next working day, ie Monday.

    The funds will have been earmarked for payment, and your AVAILABLE balance will have changed as a result, but the payment will only happen on Monday. The money is still in your account.
     
    2 people like this.
  10. markjay

    markjay MB Club Veteran

    Messages:
    22,445
    Joined:
    Jun 24, 2008
    Location:
    London
    Car:
    W204 C180 Executive SE 2013 Automatic / COMAND NTG4.7 and Morel speakers fitted by www.comand.co.uk
    It works both ways though - I can see scheduled payment into the account showing over the weekend with Monday's date.
     
  11. Watchcame430

    Watchcame430 Hardcore MB Enthusiast

    Messages:
    1,949
    Joined:
    May 20, 2012
    Car:
    1994 SL500 and 2003 Designo S500
    Thats how mine works although on a natwest statement they grey out the lines that are going to happen in the future. The available balance figure helps sometimes as well.
    The day before i get paid they see it coming so its greyed out and showing available.
     
  12. Clkrichard

    Clkrichard Hardcore MB Enthusiast

    Messages:
    681
    Joined:
    Dec 30, 2010
    Location:
    Chichester
    Car:
    2011 CLC 220cdi 2004 CLK 320 cabriolet, R230 SL500, A class Sport AMG now arrived.
    We really have become a nation of unthinking Daily Mail reading bank bashers haven't we ? They provide a free service, including notification of pending transactions, direct debit services and the ability to make electronic payments, and yet they are hated !
    Why ?
     
    1 person likes this.
  13. grober

    grober MB Club Veteran

    Messages:
    26,496
    Joined:
    Jun 22, 2003
    Location:
    Perth, Scotland
    Car:
    W204 C200CDI Estate
    And that's the crux of the matter- is that money still in the payer's account earning interest??? ---Sure its safe enough it still belongs to you[ on paper] but my guess its in some sort of invisible no man's land [ to outsiders] "holding account" where its earning the bank interest not you. Then at the other end its paid "nominally" to the recipient on the Monday and will show up in their account as indeed there but "awaiting clearance" and the recipients "cleared balance" = "available hard cash money" won't reflect it for another couple of days. So what you may ask was that money doing for maybe 4or 5 days- I'll tell you------ earning money for the bank/s not you or the recipient. :mad: Conveyancing lawyers used to do this with money's received for house sales invested overnight in special investment vehicles set up for precisely this purpose they used to call it " bed and breakfasting" :rolleyes: The bank faster payments system was supposed to do away with this but I suspect the faster bit refers to the transaction on paper but the " real money" takes a detour as usual. :dk: Sounds relatively trivial but multiply it by millions of transactions which actually happen in milliseconds by electronic transfer and you have what Del Boy would call "A nice little earner Rodney" :rolleyes:
     
  14. Watchcame430

    Watchcame430 Hardcore MB Enthusiast

    Messages:
    1,949
    Joined:
    May 20, 2012
    Car:
    1994 SL500 and 2003 Designo S500
    Something has to pay the bonus's!
     
  15. trapperjohn

    trapperjohn MB Club Veteran

    Messages:
    7,316
    Joined:
    Nov 19, 2008
    Location:
    Lancashire
    Car:
    124 300D 24V Estate

    Because I really do read the Daily Mail. :ban: Well a couple of pages anyway.
     
  16. Clkrichard

    Clkrichard Hardcore MB Enthusiast

    Messages:
    681
    Joined:
    Dec 30, 2010
    Location:
    Chichester
    Car:
    2011 CLC 220cdi 2004 CLK 320 cabriolet, R230 SL500, A class Sport AMG now arrived.
    The assumption that interest is actually payable on a current account balance is nonsense ( yes I do know that offset arrangements are different). The second assumption that funds earmarked for a pending direct debit are removed from the calculation of interest on a non interest bearing account is even more bonkers. If we then assume a DD figure in the hundreds not thousands at current interest rates ( if they even applied) over a day or two just how much notional interest are you being cheated of ?
    The sole reason you have free banking is because the banks can amalgamate float balances and put the funds to work for their own benefit - its whst a bank should be doing.
    If you dont like that they give you free tools to avoid it ! You have online access to balances and funds transfer and could go online every day to move funds so that there is no more in your account than is absolutely needed.
    Bonuses of the type criticised are not normally paid in the retail side of banks. They are usual in the investment side either because they are contractual or because someone is being rewarded for excess performance or revenue generation. Banks dont throw profit away but do , like any other business, reward outperformers.
    I understand the fashion for bank bashing, and they are from perfect, but lets be informed about our criticism ?
     
  17. grober

    grober MB Club Veteran

    Messages:
    26,496
    Joined:
    Jun 22, 2003
    Location:
    Perth, Scotland
    Car:
    W204 C200CDI Estate
    I've never quite got the bonus system why don't they go for the "full fat version". :thumb: It's all supposed to be "performance related" the bank does well people get paid a bonus--- fine--- but why stop there surely a better incentive scheme would be to extend this to it's logical conclusion.:rock: Bank does well by a fixed set of criteria - bonus of a million paid fine. Bank does badly by same set of criteria - million pounds deducted from salary = simples------- or perhaps also offer the option of getting paid a fixed salary for just turning up every day and doing your job LIKE EVERYBODY ELSE!!!!!!!!!!! might then have more appeal.:dk:
    Yes I know {cue harp music} all these talented people will promptly up stakes and migrate to other countries where their talents will be more appreciated. Well here's a news flash----- these countries' banks are already jam packed with talentless greedy barstewards do you think they will willingly make way for another bunch of talentless greedy barstewards from abroad taking their jobs I don't think so.:rolleyes:
     
    1 person likes this.
  18. DITTRICH

    DITTRICH Hardcore MB Enthusiast

    Messages:
    1,604
    Joined:
    Apr 16, 2004
    Location:
    London
    Car:
    W202 C230K + S124 E300D
    Every time the self service ASDA checkout tells me to do something I tell it to sod off in a loud voice.
     
  19. WesLangdon

    WesLangdon Banned

    Messages:
    469
    Joined:
    Jan 22, 2011
    Location:
    Old South Wales
    Car:
    300E
    Because they can loan out your money in your account by a ratio of 9:1
    When the good times roll they can "earn" over 9x the derisory amount of interest they pay you. For every £1000 you save they can lend out £9k and will charge a higher interest on each £1k they loan than they pay you. This gives them the ability to create money as if by magic.
     
  20. Clkrichard

    Clkrichard Hardcore MB Enthusiast

    Messages:
    681
    Joined:
    Dec 30, 2010
    Location:
    Chichester
    Car:
    2011 CLC 220cdi 2004 CLK 320 cabriolet, R230 SL500, A class Sport AMG now arrived.
    Grober I hear what you say but you describe the outperforming bankers who receive bonuses as greedy grasping barstewards.
    Does that description apply to everyone else in every area of work who is in a similar situation ?i i.e. everyone receiving a bonus deserves that description ?
    An employee who does something that significantly contributes to a firms revenue doesnt deserve a reward of a discretionary amount decided by management ?
    Businesses operating in a free market economy just dont work like that.
    A new "brain drain" ( remember supertax ?) is a reality. With trading, whether in money or tangible commodities, now taking place electronically 24/7, firms can be located wherever they choose and many of my high earning clients are relocating to places like Switzerland, Dubai etc. Whatever your view is of the income tax they are now not paying here there is no debating the fact that their net income isnt being spent in the UK. No VAT take from them, no employment of tradespeople including MB technicians, no RFL, no council tax, the list goes on and on.
    I suspect we are going to have to agree to disagree given your description of bankers but they dont all deserve your disapproval which I doubt is based on actual experience. Dont believe all you read in the media !
     
Tags:

Share This Page

  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.