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

**HarryMet** · 11-23-2009, 08:47 AM

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!

You let them keep your money safe and available to you at any one of millions of locations worldwide by either withdrawal of cash or electronic, card authorised payment. Why is it wrong to pay for this service?

Assume a world where everyone maintains a credit balance; where would the funding for services come from then?

I've paid directly for banking services for the past 6 years and have no problem with doing so. I even pay an annual fee on a charge card, because I see the difference in the level of service I get for doing so.

EDIT On the bailout point, we (as taxpayers) haven't just given free money away either. It's been dished out as loans and securities, with associated interest payments, service costs and (hopefully) ultimate capital repayment. The ultimate goal was to save the banking system, not expect them to stop acting commercially and do us a favour. If they don't act commercially and regain capital value, then we really will have given free money away.

11-23-2009, 08:47 AM	#19
HarryMet Join Date Oct 2005 Posts 380 Senior Member	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! You let them keep your money safe and available to you at any one of millions of locations worldwide by either withdrawal of cash or electronic, card authorised payment. Why is it wrong to pay for this service? Assume a world where everyone maintains a credit balance; where would the funding for services come from then? I've paid directly for banking services for the past 6 years and have no problem with doing so. I even pay an annual fee on a charge card, because I see the difference in the level of service I get for doing so. EDIT On the bailout point, we (as taxpayers) haven't just given free money away either. It's been dished out as loans and securities, with associated interest payments, service costs and (hopefully) ultimate capital repayment. The ultimate goal was to save the banking system, not expect them to stop acting commercially and do us a favour. If they don't act commercially and regain capital value, then we really will have given free money away.
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