Ethical banks surge in new accounts
Discussion
Unsurprisingly people are switching out of the big five into smaller ethical banks. The Co-operative bank has seen a 42% increase in new accounts this week alone with others also seeing increases. Another sign that tells the big five 'enough is enough'. Is anyone surprised, no nor am I.
Bank lovers will suggest that the small accounts are more trouble then there worth perhaps, which is another way of telling us we are not interested in serving the public?
Bank lovers will suggest that the small accounts are more trouble then there worth perhaps, which is another way of telling us we are not interested in serving the public?
thinfourth2 said:
grumbledoak said:
I think 'people' are woefully ignorant as to the (complete lack of) importance of their current accounts in all this.
Exactly as a customer i am nothing more then a nasty inconvenienceThe sooner i can f
k off the better for the bank and the better for meYes the time of big banks serving customers has long since gone, as I alluded to in my O.P. However, this may change when the retail side has to stand alone. Or perhaps the retail side will simply close its doors, in which case that will be good news. It will release some high street bank facilities for the ethical small fry to continue mopping up those retail customers. I guess this in turn will release a little pressure of the continuing hate campaign from Joe Public toward the big banks. That is until they realise they are being shafted by the investment banks from all other angles.
crankedup said:
Its very easy to change from one bank to another, with the diabolical service offered by the big bank retail outlets I'm surprised that anyone would want to keep an account open with them.
Yes the time of big banks serving customers has long since gone, as I alluded to in my O.P. However, this may change when the retail side has to stand alone. Or perhaps the retail side will simply close its doors, in which case that will be good news. It will release some high street bank facilities for the ethical small fry to continue mopping up those retail customers. I guess this in turn will release a little pressure of the continuing hate campaign from Joe Public toward the big banks. That is until they realise they are being shafted by the investment banks from all other angles.
The issue of course is old chap that these lovely free services everyone gets today will all of a sudden come with a pretty hefty cost, do you think Visa Debit networks, Cash Machines and payments processing is something that comes at a zero cost?Yes the time of big banks serving customers has long since gone, as I alluded to in my O.P. However, this may change when the retail side has to stand alone. Or perhaps the retail side will simply close its doors, in which case that will be good news. It will release some high street bank facilities for the ethical small fry to continue mopping up those retail customers. I guess this in turn will release a little pressure of the continuing hate campaign from Joe Public toward the big banks. That is until they realise they are being shafted by the investment banks from all other angles.
The only reason all these services are free today is that they are subsidised through the very investment arms you wish to disassociate from retail.
Once more the law of unintended consequences should this come to light will prove a right SoB for Joe Public!
Alucidnation said:
Are there any others that anyone can recommend?
Well worth reading if your serious about ethical banking and loads of other information. www.ethicalconsumer.orgheppers75 said:
crankedup said:
Its very easy to change from one bank to another, with the diabolical service offered by the big bank retail outlets I'm surprised that anyone would want to keep an account open with them.
Yes the time of big banks serving customers has long since gone, as I alluded to in my O.P. However, this may change when the retail side has to stand alone. Or perhaps the retail side will simply close its doors, in which case that will be good news. It will release some high street bank facilities for the ethical small fry to continue mopping up those retail customers. I guess this in turn will release a little pressure of the continuing hate campaign from Joe Public toward the big banks. That is until they realise they are being shafted by the investment banks from all other angles.
The issue of course is old chap that these lovely free services everyone gets today will all of a sudden come with a pretty hefty cost, do you think Visa Debit networks, Cash Machines and payments processing is something that comes at a zero cost?Yes the time of big banks serving customers has long since gone, as I alluded to in my O.P. However, this may change when the retail side has to stand alone. Or perhaps the retail side will simply close its doors, in which case that will be good news. It will release some high street bank facilities for the ethical small fry to continue mopping up those retail customers. I guess this in turn will release a little pressure of the continuing hate campaign from Joe Public toward the big banks. That is until they realise they are being shafted by the investment banks from all other angles.
The only reason all these services are free today is that they are subsidised through the very investment arms you wish to disassociate from retail.
Once more the law of unintended consequences should this come to light will prove a right SoB for Joe Public!
For others, they will want to continue their personal banking with the big five perhaps.
crankedup said:
heppers75 said:
crankedup said:
Its very easy to change from one bank to another, with the diabolical service offered by the big bank retail outlets I'm surprised that anyone would want to keep an account open with them.
Yes the time of big banks serving customers has long since gone, as I alluded to in my O.P. However, this may change when the retail side has to stand alone. Or perhaps the retail side will simply close its doors, in which case that will be good news. It will release some high street bank facilities for the ethical small fry to continue mopping up those retail customers. I guess this in turn will release a little pressure of the continuing hate campaign from Joe Public toward the big banks. That is until they realise they are being shafted by the investment banks from all other angles.
The issue of course is old chap that these lovely free services everyone gets today will all of a sudden come with a pretty hefty cost, do you think Visa Debit networks, Cash Machines and payments processing is something that comes at a zero cost?Yes the time of big banks serving customers has long since gone, as I alluded to in my O.P. However, this may change when the retail side has to stand alone. Or perhaps the retail side will simply close its doors, in which case that will be good news. It will release some high street bank facilities for the ethical small fry to continue mopping up those retail customers. I guess this in turn will release a little pressure of the continuing hate campaign from Joe Public toward the big banks. That is until they realise they are being shafted by the investment banks from all other angles.
The only reason all these services are free today is that they are subsidised through the very investment arms you wish to disassociate from retail.
Once more the law of unintended consequences should this come to light will prove a right SoB for Joe Public!
For others, they will want to continue their personal banking with the big five perhaps.
heppers75 said:
The issue of course is old chap that these lovely free services everyone gets today will all of a sudden come with a pretty hefty cost, do you think Visa Debit networks, Cash Machines and payments processing is something that comes at a zero cost?
The only reason all these services are free today is that they are subsidised through the very investment arms you wish to disassociate from retail.
Once more the law of unintended consequences should this come to light will prove a right SoB for Joe Public!
Are you suggesting that the banks use the profit from their investment arms to offer these services for free, kind of as a voluntery community service? How very kind of them.The only reason all these services are free today is that they are subsidised through the very investment arms you wish to disassociate from retail.
Once more the law of unintended consequences should this come to light will prove a right SoB for Joe Public!
rpguk said:
heppers75 said:
The issue of course is old chap that these lovely free services everyone gets today will all of a sudden come with a pretty hefty cost, do you think Visa Debit networks, Cash Machines and payments processing is something that comes at a zero cost?
The only reason all these services are free today is that they are subsidised through the very investment arms you wish to disassociate from retail.
Once more the law of unintended consequences should this come to light will prove a right SoB for Joe Public!
Are you suggesting that the banks use the profit from their investment arms to offer these services for free, kind of as a voluntery community service? How very kind of them.The only reason all these services are free today is that they are subsidised through the very investment arms you wish to disassociate from retail.
Once more the law of unintended consequences should this come to light will prove a right SoB for Joe Public!
crankedup said:
Alucidnation said:
Are there any others that anyone can recommend?
Well worth reading if your serious about ethical banking and loads of other information. www.ethicalconsumer.orgThanks!
heppers75 said:
rpguk said:
heppers75 said:
The issue of course is old chap that these lovely free services everyone gets today will all of a sudden come with a pretty hefty cost, do you think Visa Debit networks, Cash Machines and payments processing is something that comes at a zero cost?
The only reason all these services are free today is that they are subsidised through the very investment arms you wish to disassociate from retail.
Once more the law of unintended consequences should this come to light will prove a right SoB for Joe Public!
Are you suggesting that the banks use the profit from their investment arms to offer these services for free, kind of as a voluntary community service? How very kind of them.The only reason all these services are free today is that they are subsidised through the very investment arms you wish to disassociate from retail.
Once more the law of unintended consequences should this come to light will prove a right SoB for Joe Public!
"You realise that when I have to open my pub all day then the price of your pint will go up, don't you. I'll have to employ staff, use electricity etc etc"
Funny it never happened, innit?
Since banks were forced by the market to offer "free" current account services, they've all been trying little sneaky ways of trying to reintroduce them. And they've all failed, because unless they do it all in unison then punters will vote with their feet. As we see from the news, its already starting. Rather a bad time to piss people off, wouldn't you say?
Because as we all know, the banking industry hasn't been making any money for years, has it? I mean, just look at the size of the bonuses they're not getting
rs1952 said:
heppers75 said:
rpguk said:
heppers75 said:
The issue of course is old chap that these lovely free services everyone gets today will all of a sudden come with a pretty hefty cost, do you think Visa Debit networks, Cash Machines and payments processing is something that comes at a zero cost?
The only reason all these services are free today is that they are subsidised through the very investment arms you wish to disassociate from retail.
Once more the law of unintended consequences should this come to light will prove a right SoB for Joe Public!
Are you suggesting that the banks use the profit from their investment arms to offer these services for free, kind of as a voluntary community service? How very kind of them.The only reason all these services are free today is that they are subsidised through the very investment arms you wish to disassociate from retail.
Once more the law of unintended consequences should this come to light will prove a right SoB for Joe Public!
"You realise that when I have to open my pub all day then the price of your pint will go up, don't you. I'll have to employ staff, use electricity etc etc"
Funny it never happened, innit?
Since banks were forced by the market to offer "free" current account services, they've all been trying little sneaky ways of trying to reintroduce them. And they've all failed, because unless they do it all in unison then punters will vote with their feet. As we see from the news, its already starting. Rather a bad time to piss people off, wouldn't you say?
Because as we all know, the banking industry hasn't been making any money for years, has it? I mean, just look at the size of the bonuses they're not getting
Your post was somewhat confusing and I was left thinking what could lead you to such a rather ill informed diatribe, then ahhh there it is another bonuses envy jibe at the last...
heppers75 said:
Why would you assume I had a vested interest? Rather naive don't you think?
Your post was somewhat confusing and I was left thinking what could lead you to such a rather ill informed diatribe, then ahhh there it is another bonuses envy jibe at the last...
Perhaps I was being uncharitable and you were just putting the opposing point of view, but I wasn't accusing you personally of a vested interest (although you may or may not have one, I neither know or care). And personally I couldn't give a toss about the size of bankers bonuses, unless the banks start pleading poverty and want to start charging ordinary punters extra charges, in which case the size of those bonuses then should be brought into the equation.Your post was somewhat confusing and I was left thinking what could lead you to such a rather ill informed diatribe, then ahhh there it is another bonuses envy jibe at the last...
The point I was making, that was clearly lost on you, perhaps needs stating in simpler language so that you can understand
There is no guarantee that any changes made to the banking industry will result in higher charges to the client.
How's that? Understand now?
Banking has changed remarkably. In 1976 my bank manager called me in to discuss a problem that had been brought to his attention. I had just changed jobs and I was using my savings to pay weekly bills. He advised me how to change things for the better. He seemed concerned.
Not nowadays though. I could give a nubmer of examples, as could many people, of where they just try and screw every penny they can out of you. The banks are nothing more than money making machines. When I suddenly started to get a regular income into my business account they wanted to talk to me. I was given coffee, buscuits, a nice confortable interview room and a nice friendly smile, right up until I presented my business plan showing that I would fund any costs through profit and if I had no profit, there would be no purchases. Off went the smile and if she could have dragged the coffee from me I feel sure she would have done.
Ethical? Isn't that what every bank should be given the fact that they are trusted?
I've been told that we are moving banks. This by my wife. She's read about ethical, understands the extra charge but points out, quite clearly, that when you consider what banks have charged us in the past for their free banking, the costs are not going to be that much higher. I can't remember the last time I went into a bank. I get cash from 'cashback' at supermarkets. I can't remember the last time I used an ATM.
Thanks for the link to Ethical.
Not nowadays though. I could give a nubmer of examples, as could many people, of where they just try and screw every penny they can out of you. The banks are nothing more than money making machines. When I suddenly started to get a regular income into my business account they wanted to talk to me. I was given coffee, buscuits, a nice confortable interview room and a nice friendly smile, right up until I presented my business plan showing that I would fund any costs through profit and if I had no profit, there would be no purchases. Off went the smile and if she could have dragged the coffee from me I feel sure she would have done.
Ethical? Isn't that what every bank should be given the fact that they are trusted?
I've been told that we are moving banks. This by my wife. She's read about ethical, understands the extra charge but points out, quite clearly, that when you consider what banks have charged us in the past for their free banking, the costs are not going to be that much higher. I can't remember the last time I went into a bank. I get cash from 'cashback' at supermarkets. I can't remember the last time I used an ATM.
Thanks for the link to Ethical.
Derek Smith said:
Banking has changed remarkably. In 1976 my bank manager called me in to discuss a problem that had been brought to his attention. I had just changed jobs and I was using my savings to pay weekly bills. He advised me how to change things for the better. He seemed concerned.
Not nowadays though. I could give a nubmer of examples, as could many people, of where they just try and screw every penny they can out of you. The banks are nothing more than money making machines. When I suddenly started to get a regular income into my business account they wanted to talk to me. I was given coffee, buscuits, a nice confortable interview room and a nice friendly smile, right up until I presented my business plan showing that I would fund any costs through profit and if I had no profit, there would be no purchases. Off went the smile and if she could have dragged the coffee from me I feel sure she would have done.
Ethical? Isn't that what every bank should be given the fact that they are trusted?
I've been told that we are moving banks. This by my wife. She's read about ethical, understands the extra charge but points out, quite clearly, that when you consider what banks have charged us in the past for their free banking, the costs are not going to be that much higher. I can't remember the last time I went into a bank. I get cash from 'cashback' at supermarkets. I can't remember the last time I used an ATM.
Thanks for the link to Ethical.
Just out of interest Derek, did you pay banking charges back in 76'?Not nowadays though. I could give a nubmer of examples, as could many people, of where they just try and screw every penny they can out of you. The banks are nothing more than money making machines. When I suddenly started to get a regular income into my business account they wanted to talk to me. I was given coffee, buscuits, a nice confortable interview room and a nice friendly smile, right up until I presented my business plan showing that I would fund any costs through profit and if I had no profit, there would be no purchases. Off went the smile and if she could have dragged the coffee from me I feel sure she would have done.
Ethical? Isn't that what every bank should be given the fact that they are trusted?
I've been told that we are moving banks. This by my wife. She's read about ethical, understands the extra charge but points out, quite clearly, that when you consider what banks have charged us in the past for their free banking, the costs are not going to be that much higher. I can't remember the last time I went into a bank. I get cash from 'cashback' at supermarkets. I can't remember the last time I used an ATM.
Thanks for the link to Ethical.
Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff