DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - The end of cheques and the end of free banking!

**Unjucky** · 11-23-2009, 08:33 AM

Because someone built and supports a network of bank branches and ATMs that allow you to have access to money without carrying it all with you. You've then entered into a contract with this party whereby they will invest your money, while keeping it reasonably safe, and providing you with the ability to retrieve it at your convenience, in return for keeping the majority of the profit from investing it. However, since the return on investments has tumbled, they can no longer support this vast banking machine through investment returns alone. Therefore, they propose to charge you for the convenience of withdrawing your money anytime anywhere you want.

Seems pretty reasonable to me, and if you do not like it, you're perfectly within your rights to walk into the bank and close out your account without paying any fees. Where's the outrage?

Are you really that self-centered?

Because they're providing you with a service? This is what I was pointing out when I said that free banking is an illusion.

If you don't want to pay for the service, just have your employer pay you by cheque. Oh right, you can't spend a cheque can you, so you'll have to get it cashed. But the banks want rid of them, and even if they didn't, they'd have to take a cut to cover the risk that it would bounce.

Best way is obviously to get paid in cash and keep it under the bed Bungle; seeing as you don't think the banks provide any sort of services, you shouldn't have a problem with it.

They provide me with a service. I let them have MY money! All this is because idiots can't keep their accounts in credit and don't want to be charged for going overdrawn. I keep my nose clean and I get penalised!

How is it "self-centred" to expect to continue receiving the same service that has worked perfectly well for years?

Closing the account is not an option. It's impossible to function into today's world without a bank account.

How do you pay your rent if you don't use a cheque?

I use my account's bill payment service online.

11-23-2009, 08:33 AM	#14
Unjucky Join Date Oct 2005 Posts 555 Senior Member	Because someone built and supports a network of bank branches and ATMs that allow you to have access to money without carrying it all with you. You've then entered into a contract with this party whereby they will invest your money, while keeping it reasonably safe, and providing you with the ability to retrieve it at your convenience, in return for keeping the majority of the profit from investing it. However, since the return on investments has tumbled, they can no longer support this vast banking machine through investment returns alone. Therefore, they propose to charge you for the convenience of withdrawing your money anytime anywhere you want. Seems pretty reasonable to me, and if you do not like it, you're perfectly within your rights to walk into the bank and close out your account without paying any fees. Where's the outrage? Are you really that self-centered? Because they're providing you with a service? This is what I was pointing out when I said that free banking is an illusion. If you don't want to pay for the service, just have your employer pay you by cheque. Oh right, you can't spend a cheque can you, so you'll have to get it cashed. But the banks want rid of them, and even if they didn't, they'd have to take a cut to cover the risk that it would bounce. Best way is obviously to get paid in cash and keep it under the bed Bungle; seeing as you don't think the banks provide any sort of services, you shouldn't have a problem with it. They provide me with a service. I let them have MY money! All this is because idiots can't keep their accounts in credit and don't want to be charged for going overdrawn. I keep my nose clean and I get penalised! How is it "self-centred" to expect to continue receiving the same service that has worked perfectly well for years? Closing the account is not an option. It's impossible to function into today's world without a bank account. How do you pay your rent if you don't use a cheque? I use my account's bill payment service online.
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