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25-09-2020, 04:20 PM
21

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.
Yes Swimmy, you are right. If we Salopians tried paying for our fish n chips with a card everyone in the queue would be mouthing fight, fight! .
In fact, most of the local shops here prefer cash as no charges for them with the card companies.
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25-09-2020, 04:29 PM
22

Re: My Stingy Bank!

Originally Posted by realspeed ->
you do better with premium bonds than zero bank interest
That's true realspeed, one of my brothers invested a sizeable chunk on Gold instead of leaving it in the bank. What he has earned in profit is unbelievable since Covid started. Gold went to the highest ever!
He also has quite a few Premium Bonds and I'm forever getting a text from him every month, saying ''won another £50''.

Wish I had done the same., unfortunately, don't have his
sort of money to invest.
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26-09-2020, 08:45 PM
23

Re: My Stingy Bank!

Originally Posted by shropshiregirl ->
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.
That would be me then
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26-09-2020, 08:52 PM
24

Re: My Stingy Bank!

Originally Posted by shropshiregirl ->
What he has earned in profit is unbelievable since Covid started. Gold went to the highest ever!
Is that 'paper profit' which is little use to anyone.

Or is it 'crystallised profit' which is a great deal of use but of course you only get that once and you won't get back in the market at the same price (should you wish to do so) at least not for a long time.
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29-09-2020, 03:28 PM
25

Re: My Stingy Bank!

Originally Posted by Losos ->
Is that 'paper profit' which is little use to anyone.

Or is it 'crystallised profit' which is a great deal of use but of course you only get that once and you won't get back in the market at the same price (should you wish to do so) at least not for a long time.
Oh crikey, you have me there Losos, I don't know the first thing about investment in Gold. All I know is that he bought Gold bars from the Royal Mint and has them stored safely with them. He did show me the certificates etc but it still went over my head. I recall him saying he bought them at a certain price and to do so now would cost almost double in price he paid.
Way above my stratasphere of knowledge I'm afraid.
The nearest I am likely to ever get to gold are the very few bits of jewellrey I own. End of!

My point though was to prove that anything that is with a little risk is still better than the miserly or zero interest that the banks are offering. They should not be allowed to treat customers this way. The Government are at last clampiing down on Insurance companies over cheaper rates for first timers but refuse to take any action against the banks who use our money to make profits for themselves, while we don't get a fig! Surely this isn't right.
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30-09-2020, 12:29 AM
26

Re: My Stingy Bank!

Banks all over are being stingy. It's pathetic the interest rates given and being reduced at every opportunity.
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12-10-2020, 05:37 PM
27

Re: My Stingy Bank!

Looks like savers will soon have to pay the banks to keep their money .

https://www.bbc.co.uk/news/business-54506853
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12-10-2020, 09:34 PM
28

Re: My Stingy Bank!

Originally Posted by shropshiregirl ->
Oh well, that just about sums up the way Banks treat its customers. We have over the years,had a Platinum current account with the TSB. We have paid £20 per month (which kept going up from the original £10 per month) for the 'privilege' of the small perks that went with it such as authorised overdraft (never used) of £250, AA Roadside and Travel Insurance (now useless with Covid) so really all that it is good for is the AA Roadside. For £240 per year I would expect the AA to come and open my door for me every time I used the bloomin car!
Anyhow, the current interest was a pathetic 0.25% but this morning we had a letter stating that the interest was being changed to a magnificent 0.0% !! Thank you for your kind generosity,TSB. Thank God we don't have to depend on interest to survive!

Obviously, we will be closing this account and reverting to a basic Classic account, but what a way to treat customers.

Is your bank as stingy as ours?
I'm afraid I don't know about that, as we don't make use of any such 'perks'.

I'm with First Direct which, in my opinion, is excellent regarding all our needs.

We both have credit cards with them and, as long as I pay off what we have spent (borrowed) every month, which I do by standing order, there are no charges.

Although we don't use them, overdrafts are competitive according to comparison sites.

I also find that their customer service is second to none, despite not having any real high street banks. Should I ever receive one of those old fashioned cheque things, I can cash it at the post office.

Instead of going to a bank branch, I have the option of using t'Internet or, as I prefer, telephone banking. They always answer immediately and seem to recognise my voice so there is a minimum of security - only one question.
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30-10-2020, 02:24 PM
29

Re: My Stingy Bank!

Originally Posted by shropshiregirl ->
Good for you Percy. The banks seemingly treat us customers as necessary irritants while at the same time robbing us of the interest that they used to first entice us to bank with them and we foolish people then pay them for the privilege. No more!
My goodness, does anyone remember the good ol' days when banks used to actually compete with each other with attractive interest rates? especially with long term investments. Where did they go?

Sadly, I don't think we will ever see that happening ever again.
The government is in cahoots with the banks shroppie!
The biggest borrowers of money are governments?
So it makes sense that they,( via the BOE) support zero or minus
interest rates!!
A case of FYJIAR!!!
We are definitely paying for covid???

Donkeyman! 😟😟😟
 
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