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mark_INIESTA_davies

Bank Charges - Ethical?

22 posts in this topic

Has anyone been caught out on here by bank charges?

What's your story, how do you feel?

Recently been stung and I'm going to keep money in a shoe box under my bed it's the only safe way.

Lost complete confidence in the banking system, I just don't agree they are there to help me anymore.

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I got a ppi claim to make :Y:

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Bank charges is old now, told you lot years ago how claim

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For some reason Natwest think im gonna pay them £700+ accrued in bank charges when I was in jail

:rofl:

Not one single physical pound was spent and they want over 7 bills in charges?

Yah mad

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Bank charges is old now, told you lot years ago how claim

I believe di law changed regarding them still

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i go 1p over my balance and they wanna charge me like £30, yet when they fuck up and their systems go down or they lose my payments or whatever i dont get shit

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I make more from banks than they do from me

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I make more from banks than they do from me

Nah gee

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Actually let me rephrase, I cost more to the banks than they do to me

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Swear he is an actual banker

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I'm no a banker. I don't have any lines of credit; they haven't had any money from me so far this year. But I've had a nice return on my savings bond.

Free money as far as I'm concerned

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But didn't they make money from the bond?

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Hence my rephrase

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How does the bank making money from your bond mean 'you cost them more than they cost you'?

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Look I'm just asking u genuine question cos I'm interested no need to be a d*ck

Yes u make profit

But how does that cost the bank anything?

And doesn't the bank makes a profit as well?

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It does, but just because my bank makes revenue from my bond it still remains true that the cost associated with attaining that revenue is greater than the cost to me as a customer (Free). As I said, free money.

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But as long as the profit they make covers those costs which it must other wise they wouldn't bother to do it, then it doesn't actually matter about any costs ur bond has earnt the money for that as well.

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So it doesn't really cost the bank anything

:/

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It depends how deep you want to look into it. Their return isn't guaranteed, how can we be sure it didn't cost them?

Also I'm look at it through accounting principles where revenue - cost = profit and I'm only referring to the cost element. You're referring to the profit elements.

When I look at my statements I see money coming in but nothing going out in the banks favor. That's all I meant to express.

The interest system is a two way system and essentially the debtors 'pay for' the creditors, and banks can be used for your advantage.

Bank charges are ethical, but banks aren't always ethical hence the barclays saga

But I doubt the thread starter was referring to the trading rates, much rather a few 8 pounds here and there where he went into unauthorised overdraft. Totally ethical.

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