Uhtred Posted June 22, 2020 Share Posted June 22, 2020 2 hours ago, pongo said: For most people banking is free. And there are alternatives now to traditional banks. But let's be clear: Unless that's your face on the money, it's not yours. Matthew 22:21. What did Matthew do just after twenty past ten at night? Link to comment Share on other sites More sharing options...
gettafa Posted June 22, 2020 Share Posted June 22, 2020 3 hours ago, pongo said: But let's be clear: Unless that's your face on the money, it's not yours. Matthew 22:21. 39 minutes ago, Uhtred said: What did Matthew do just after twenty past ten at night? I think he nicked a tenner Link to comment Share on other sites More sharing options...
Non-Believer Posted June 22, 2020 Share Posted June 22, 2020 27 minutes ago, finlo said: That's because you're lending them your cash for free for them to lend to other people for x percent! We must be due another round of them trying to impose charges for cash point withdrawals soon too... That comes around periodically. Link to comment Share on other sites More sharing options...
WTF Posted June 23, 2020 Share Posted June 23, 2020 9 hours ago, The Dog's Dangly Bits said: Most banks don't really charge for a standard current account. does that mean they pretend to charge ? Link to comment Share on other sites More sharing options...
Holte End Posted June 23, 2020 Share Posted June 23, 2020 2 minutes ago, WTF said: does that mean they pretend to charge ? No, they just change words like charges to commission. Link to comment Share on other sites More sharing options...
Mr Newbie Posted June 23, 2020 Share Posted June 23, 2020 8 hours ago, Non-Believer said: We must be due another round of them trying to impose charges for cash point withdrawals soon too... That comes around periodically. They’d probably make you do a socially distanced queue for the cashpoint too! The queues outside that bank do them no favors at all from a PR perspective. Most other people returned to work weeks ago. Quite why you still have to queue outside a bank that’s still working restricted hours is pathetic. It looks like the queue outside a Soviet era butchers shop on Athol Street most days. Link to comment Share on other sites More sharing options...
pongo Posted June 23, 2020 Share Posted June 23, 2020 8 hours ago, finlo said: That's because you're lending them your cash for free for them to lend to other people for x percent! For the most part, banks do not lend out deposits - bank lending is about banks creating loans. And that's a large part of how money is created. Free banking is a loss leader. Soon enough they won't have branches. Link to comment Share on other sites More sharing options...
The Dog's Dangly Bits Posted June 23, 2020 Share Posted June 23, 2020 38 minutes ago, WTF said: does that mean they pretend to charge ? What are you going on about? You could walk into most, if not all, the retail banks on the island and open a Current Account without a cost or any ongoing charges. Are you saying that isn't the case? Link to comment Share on other sites More sharing options...
The Dog's Dangly Bits Posted June 23, 2020 Share Posted June 23, 2020 16 minutes ago, pongo said: For the most part, banks do not lend out deposits - bank lending is about banks creating loans. And that's a large part of how money is created. Free banking is a loss leader. Soon enough they won't have branches. Banks do a number of things with deposits but it is true that they make zero return on the average mass volume current account. Free banking is provided by pretty much all of them and I'm surprised it has lasted this long. Link to comment Share on other sites More sharing options...
Golfer Posted June 23, 2020 Share Posted June 23, 2020 21 minutes ago, The Dog's Dangly Bits said: Banks do a number of things with deposits but it is true that they make zero return on the average mass volume current account. Free banking is provided by pretty much all of them and I'm surprised it has lasted this long. Every other country in world you will pay for a bank account Link to comment Share on other sites More sharing options...
The Phantom Posted June 23, 2020 Share Posted June 23, 2020 Typically, I don't remember the last time I needed to pay in a cheque, but have had a couple to pay in over the Corona shut down from non IT savvy people and the queues have been 30 odd people long every time I've been. I've actually only used the automated machine for cheques - why can't they have a weatherproof one outside like normal cash machines? On a separate yet related note, did you know that Isle of Man Bank is company number 1 on the Companies Registry over here? Link to comment Share on other sites More sharing options...
The Phantom Posted June 23, 2020 Share Posted June 23, 2020 16 hours ago, pongo said: Cash is expensive to use and grubby. Though I do miss the era of the old €500 bank note. That was fun while it lasted. There is a Euro 500 note. It's not issued since last year, but is still legal tender. It is however a money-launderers dream. You can fit Euro 1,000,000 in a cornflake box and it would only weigh 2kgs!!! Hence why they stopped being produced and were known as 'Bin Ladens'. Link to comment Share on other sites More sharing options...
pongo Posted June 23, 2020 Share Posted June 23, 2020 38 minutes ago, The Phantom said: Typically, I don't remember the last time I needed to pay in a cheque, but have had a couple to pay in over the Corona shut down from non IT savvy people and the queues have been 30 odd people long every time I've been. I've actually only used the automated machine for cheques - why can't they have a weatherproof one outside like normal cash machines? You can write out a paying in slip and put it an envelope with the cheques. Post that through the letter box Link to comment Share on other sites More sharing options...
Sentience Posted June 23, 2020 Author Share Posted June 23, 2020 Apparently Regent Street branch, (you know the one smack dab in the middle of the Islands main retail centre where 90% of the shops have already been open for a while) is planned to re-open next Monday the 29th 09:30 - 16:30. About time too. Also, 'apparently', it's extended closure has been due to..... 'STAFF SHORTAGES'.... what??? More likely going on the owner banks (whoever that is these days!) UK timetable, until someone reminded them how we've been free of new cases for quite some time now!! Unlike (unfortunately for them, with so many losing their lives) the UK. Link to comment Share on other sites More sharing options...
Neil Down Posted June 23, 2020 Share Posted June 23, 2020 19 hours ago, TheTeapot said: The guys girls on the corners in Brixton accept cash. Link to comment Share on other sites More sharing options...
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