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Tynwald Day 2021


Amadeus
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10 hours ago, TerryFuchwit said:

Why would you expect them to do it for free?

 

i wouldn't,  but more than  trebling the cost over night  is out of order so if i can avoid unnecessary costs i will rather than  just carry on  as before and use my card even though it is more practical , i'm sticking with fuck banks.

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1 minute ago, WTF said:

i wouldn't,  but more than  trebling the cost over night  is out of order so if i can avoid unnecessary costs i will rather than  just carry on  as before and use my card even though it is more practical , i'm sticking with fuck banks.

Close your account then?

Or take in your payments by card (and moan about their charges no doubt).   Which basically everyone is doing.

Free banking is a thing of the past pretty much.  Personal accounts will be next.  But this isn't uncommon in other parts of the world anyway.  The UK have just got used to free banking, that's all.

Banks are doing exactly what you do.  Charging customers for a service that costs less to provide that what they charge you.

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1 hour ago, TerryFuchwit said:

Free banking is a thing of the past pretty much.  Personal accounts will be next.  But this isn't uncommon in other parts of the world anyway.  The UK have just got used to free banking, that's all.

They do not hold our money for free. There is still a lot of money to be got from investments they make with people's money in their interest free accounts. 

Banks are trying to have their cake and eat it. They are not profitless organisations now or in the past, they are hardly on their 'uppers'. The dividends and bonuses they pay out show that. 

They have over the recent years forced encouraged loyal customers via bank closures to rely more and more on phone banking, whether they wanted it or not.

I prefer local people in local banks dealing with my money, I still pay be cheque and still have cash as the main form of purchase when I can. Like many others I talk to I bought a safe two years ago as it is better to use than make a car journey to what is not laughingly called  "our local branch".  

I am a Luddite I guess. 😁

How much did the banks collectively "lose" last two years due to their continued inability to keep their own customers money "safe" ?

That's what this is really all about. 

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No such thing as free banking. The charges are, in theory, passed on to the public through every purchase that they make.

Fair play to IOM Bank, they are only making a nominal A/C charge at the moment but when transaction charges start aagain they will be higher.

Banks can use the charges to 'encourage' businesses to accept cards rather than cash by putting the cash banking charges up.

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Posted (edited)

The real issue is of course trying to make the customer totally responsible and accountable for whatever goes wrong whilst the money is within the bank and subject to their administrations. And therefore the bank can and must avoid all blame and any financial charges in those circumstances. By encouraging us all to rely more and more on technology they can even point the finger at the computers and mobile phones etc. Anyone but themselves. 

They have a responsibility to keep customers finances safe by procedures designed to deny fraudsters access and where that happens, to recompense customers. By Law. (The finance papers are full of stories where they will delay or even refuse to do that, until the omsbudsman gets involved).

Each and every section of a business now has to show a profit and if it doesn't then it can be shut down. Never mind any value to the customer - if it can't make money then it is no longer required. Nor the staff to run it.

Look at the rates for loans. They do all right do the banks. 

Next thing that needs a careful look at, and possible legislation and regulation in my view, is the equity release schemes, which seems to bring in a lot of money for some.

 

Tynwald was good day though. I have high regard for the whole petitions process. 

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I agree with your views on banking but not the Tynwald process, it's too easily manipulated. (Much the same as the banking process).

One thing you didn't mention is the ease of access to one's finances by the authorities, always a bad thing even if there is nothing to hide, they intrude on our lives enough.

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23 minutes ago, doc.fixit said:

I agree with your views on banking but not the Tynwald process, it's too easily manipulated. (Much the same as the banking process).

One thing you didn't mention is the ease of access to one's finances by the authorities, always a bad thing even if there is nothing to hide, they intrude on our lives enough.

Do what I do, dig a hole in the garden and bury cash/ gold etc in a waterproof box with silica crystals to keep it dry.

P.S. Don't do as I did and do this while drunk, there is not a bit of our garden that has not been dug up looking for this stash. Next up is my neighbors garden....... 🙂

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13 hours ago, WTF said:

i wouldn't,  but more than  trebling the cost over night  is out of order so if i can avoid unnecessary costs i will rather than  just carry on  as before and use my card even though it is more practical , i'm sticking with fuck banks.

One to watch. A direct listing too. The banks still aren’t getting the money transfer side of the business. 

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59 minutes ago, AlanShimmin said:

What's the sock puppet clause?

No idea , I got banned once for it though. Best not to ask though as you just get banned again , for asking what the sock puppet clause is. I’ll probably get banned for this. 
The only sock puppet I know was Lamb Chop who was operated by Chari Lewis. They’d probably ban her for that on here. 

 

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A Sock Puppet is where someone using one account name posts under a second account.

When there were lots of that going on, Sock Puppet spotting became disruptive - "you're a sock puppet", "no you are" etc. So the Sock Puppet clause is "don't call people sock puppets."

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