[DrJonson]

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?

Because they make boatloads of money lending that money out to other people for a big interest rate and pay me a small rate if any at all?

[freflellalafe]

Weirdly, this morning I got an email from NatWest saying that all their penalty charges had been lowered to very reasonable levels.

weirdly I haven't received one from natwest.

you didn't follow any links on it did you and try to log in ?

[freflellalafe]

Maybe because they won this rather large case.

Anyway, I don't really believe in getting owt for nowt (anything for nothing) so its all fair enough. Keep your nose clean Bungle, and I don't think you or anyone else is going to get unnecessarily stung.

yeah, remember if its not your money don't withdraw it [yes]

[AnetTeilor]

weirdly I haven't received one from natwest.

you didn't follow any links on it did you and try to log in ?

Apparently it only applies to advantage gold customers. There were no links, nor requests for passwords in it.

EDIT: Just because the email I got says chages to advantage gold account terms and conditions doesn't mean that current account customers didn't get the same email.

[freflellalafe]

Apparently it only applies to advantage gold customers. There were no links, nor requests for passwords in it.

EDIT: Just because the email I got says chages to advantage gold account terms and conditions doesn't mean that current account customers didn't get the same email.

ah yes I received that email but on my Advantage Private current account, didnt read it tho lol

[HarryMet]

ah yes I received that email but on my Advantage Private current account, didnt read it tho lol

Military pay has gone up recently has it?

[AnetTeilor]

Military pay has gone up recently has it?

I get the impression it was an attempt at a joke.

[Unjucky]

They're talking about this on the radio. Apparently the banks want to do away with cheques. I'm not too fussed about that as I hardly ever use them now.

But the bit that did prick my ears up was they were saying how a judgement is expected next week re the banks charges for people going overdrawn. It is expected that it go against the banks and to compensate for loss of profits the banks could start charging people to get their money out of ATMs. That ridiculous! Why should I have to pay to get MY money??

[nerohedfrs]

They're talking about this on the radio. Apparently the banks want to do away with cheques. I'm not too fussed about that as I hardly ever use them now.

But the bit that did prick my ears up was they were saying how a judgement is expected next week re the banks charges for people going overdrawn. It is expected that it go against the banks and to compensate for loss of profits the banks could start charging people to get their money out of ATMs. That ridiculous! Why should I have to pay to get MY money??

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?
It's a free market system, and you should feel free to vote with your dollar.

Are you really that self-absorbed? Because it appears as you've got the feeling of entitlement down.

[67Irralphaisa]

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

[HarryMet]

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.

[gghrdfffhfyj]

It'll either be an ATM usage fee or a monthly account charge - I know which one I'd prefer (and it's the one I'm already used to...).

[poRmawayncmop]

lots of ATMs around here cost to use, the ATM in my college costs £1.75 to use, and quite a few ATMs around town costs £2 to use.

[Unjucky]

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.

[gghrdfffhfyj]

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

Except, of course, that hasn't worked perfectly well - for you, maybe, but not for the banking system as a whole.

[nerohedfrs]

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

Because today is different than yesterday.

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

Of course it's possible. You just CHOOSE to have conveniences that come with having a bank account. Therefore, you shouldn't be surprised when you're charged for your services.

I don't know what you actually do for a living... but why don't you go ahead and provide your services for free.

I use my account's bill payment service online.

Then don't be surprised for the convenience of not having to write a check, buy a stamp, fill out a form, and drop the bill in the mail.

[Unjucky]

lots of ATMs around here cost to use, the ATM in my college costs £1.75 to use, and quite a few ATMs around town costs £2 to use.

Yeah but they're not regular bank (as in at a bank) ATMs are they?

Except, of course, that hasn't worked perfectly well - for you, maybe, but not for the banking system as a whole.

What has changed......apart from idiots moaning that they get charged when they go overdrawn (aww didums)?

Someone on the radio just made another point. We (we as in the British taxpayer) just bailed out the banks for millions of pounds, and now they want to charge us for getting our own money out!

[poRmawayncmop]

Yeah but they're not regular bank (as in at a bank) ATMs are they?

Ah no, they're not, theyre usually at places you NEED money (like outside a cinema haha) theyre such a scam.

[HarryMet]

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.

[DoctorDulitlBest]

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

money order??