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Losos
Fondly Remembered
Losos is offline
West Suffolk
Joined: Aug 2009
Posts: 2,630
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24-09-2020, 07:03 PM
11

Re: My Stingy Bank!

Originally Posted by shropshiregirl ->
I do wish they would do the same with interest rates. They have our money and yet treat us disgracefully.
I have been waiting for 10 years for interest rates to rise (Since the financial crisis in 2008/10)

It ain't going to happen anytime soon. Lloyds 'instant access' rate is now 0.01% my saver account paid me 10p last month.

But it could get WORSE (if the BoE goes to negative rates) savers with the high street banks might end up PAYING THEM to keep money in your account.

I wish I knew what the answer is, even the NS&I are reducing the interest on Premium Bonds
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shropshiregirl
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shropshiregirl is offline
Shropshire
Joined: Jun 2013
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24-09-2020, 09:26 PM
12

Re: My Stingy Bank!

The people I feel really sorry for are those that were expecting and depending on the interest from their savings being adequate to supplement their pensions. It must have been dire for them over the last few years. As if they don't have enough to contend with in today's fast moving world. Sad times after a lifetime of working for many..
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OldGreyFox
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South Yorkshire
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24-09-2020, 09:43 PM
13

Re: My Stingy Bank!

The banks have got us by the short and curlies alright, with pensions and wages paid into bank accounts, some establishments only do business by direct debit, all internet purchases done by card, covid has made sure that card payment is the preferred method of payment these days, life would be impossible without a bank account. Cash is a thing of the past, and so is interest.....And the new Lloyds Bank advert makes me puke! 'We're by your side'.....They should be prosecuted for misleading advertising...
swimfeeders
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Shropshire
Joined: Oct 2014
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25-09-2020, 03:54 AM
14

Re: My Stingy Bank!

Originally Posted by OldGreyFox ->
The banks have got us by the short and curlies alright, with pensions and wages paid into bank accounts, some establishments only do business by direct debit, all internet purchases done by card, covid has made sure that card payment is the preferred method of payment these days, life would be impossible without a bank account. Cash is a thing of the past, and so is interest.....And the new Lloyds Bank advert makes me puke! 'We're by your side'.....They should be prosecuted for misleading advertising...
Hi

Some of us still live in Dinosaur Land.

Cash is still king here.

Brother came down from Manchester and tried to pay at the fish and chip shop by card.

He might as well have been an Alien.

Apart from Amazon and the big supermarkets, everything is cash.

Markets and Honesty Boxes, all cash only.
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Muddy
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UK
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Posts: 31,286
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25-09-2020, 08:28 AM
15

Re: My Stingy Bank!

Originally Posted by OldGreyFox ->
The banks have got us by the short and curlies alright, with pensions and wages paid into bank accounts, some establishments only do business by direct debit, all internet purchases done by card, covid has made sure that card payment is the preferred method of payment these days, life would be impossible without a bank account. Cash is a thing of the past, and so is interest.....And the new Lloyds Bank advert makes me puke! 'We're by your side'.....They should be prosecuted for misleading advertising...
I agree I have been with Lloyd’s bank since I was 16 but their service and treatment this last year is so bad I would leave them if I could be bothered to set up a new account .
As it is I have as little to do as possible with them .
I put my savings with NS&I but they have changed their rates now so I am not sure what to do all rates are rubbish .
swimfeeders
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Shropshire
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25-09-2020, 09:09 AM
16

Re: My Stingy Bank!

Hi

Interest rates are at an all time low Worldwide.

It is not going to change anytime soon.

Think about it, we are hugely indebted, if interest rates go up that means more taxes or reduced services.
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Muddy
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UK
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25-09-2020, 09:12 AM
17

Re: My Stingy Bank!

What services ?
realspeed
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South coast
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25-09-2020, 09:13 AM
18

Re: My Stingy Bank!

you do better with premium bonds than zero bank interest
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OldGreyFox
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OldGreyFox is offline
South Yorkshire
Joined: Feb 2015
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25-09-2020, 09:53 AM
19

Re: My Stingy Bank!

Originally Posted by Muddy ->
I agree I have been with Lloyd’s bank since I was 16 but their service and treatment this last year is so bad I would leave them if I could be bothered to set up a new account .
As it is I have as little to do as possible with them .
I put my savings with NS&I but they have changed their rates now so I am not sure what to do all rates are rubbish .
Same here Muddy, my bank (the Yorkshire Bank) has since amalgamated with 'Virgin Money' and there has been a noticeable decline in service. They have changed the way you access your online banking and I've had to call them three times just to transfer some money. I had thought about changing my account like you, but I haven't got the time or inclination, and where else do you go when they are all the same.

I use the account as little as possible and have even taken out a Tesco Credit card for all my everyday needs, and I must say, they are brilliant. Easy to access online without the need for a letter of identification from my doctor and local Vicar, so I just settle up at the end of the month. NS&I provide a safe haven for most of my dosh, with the chance of a pot of gold at the end of the rainbow.....Here's hoping!.....
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OldGreyFox
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OldGreyFox is offline
South Yorkshire
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25-09-2020, 09:56 AM
20

Re: My Stingy Bank!

Originally Posted by swimfeeders ->
Hi

Some of us still live in Dinosaur Land.

Cash is still king here.

Brother came down from Manchester and tried to pay at the fish and chip shop by card.

He might as well have been an Alien.

Apart from Amazon and the big supermarkets, everything is cash.

Markets and Honesty Boxes, all cash only.
If only we could go back to that here Swim....
 
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