BACKWARD BANKING SYSTEM

[Robert Davitt Callaghan]

This seemed like the right place for this, I hope so.



BACKWARD BANKING SYSTEM
by thechickenkeeper on Tue Dec 16, 2008


Hello again, well something that has plagued me during my adult years and probably most of you, is bank charges!!, at the end of the day, I like you, have pay hundreds if not thousands to various banks around the world, for the loan of my income. How did that ever come to be? Years ago, now I talking before any of us were born, banks were more like safety deposit boxes, and you were paid interest on the money you kept there, as the bank would use the money for local loans and then charge people who BORROWED money a higher rate of interest, than they paid you back, that was it, nice and simple, everyone knew where they stood.

Well slowly but surely, salespeople added more services to the banking system, things we don’t really need, but ofcourse a small charge was put in place, ‘ watch your little expenses, as small holes sink ships’ . Account management fees?, etc,, excuse me, but I think I manage my account, basically it’s all a big con trick, the way the banks make their money is by investments still, but mainly overseas these days, they regularly announce billion dollar profits, and yet we still say nothing, about the money they take from our accounts every month.

Enough is enough, the banks of the world have had too much of our hard earned cash over the years, and for nothing, because they don’t really provide anything to us, even more so these days, as really all they are supposed to do is keep your money safe from robbers and highwaymen, but they can’t seem to manage that these days.

With banks falling like flies, your money is probably safer in the mattress, so why do we keep paying these people money for nothing, if somebody came to your door each month asking for $3.50, for nothing in return,…. well I can imagine most of your responses, probably some swearing invloved. But it’s these little amounts that no ones too bothered about to complain to the bank, however if New Zealand alone with it’s population of 4 million were to stop paying any bank charges, I guesstimate there would be over 200 million dollars to go back into the pockets of the public, which inturn would go back into the tils of retail shops and businesses.

Can the governments not see this as a solution to some of the world’s financial problems, or do they just blindly want to keep taxing the public to poverty.

So I urge you all to use the banks as little as possible, tell them about your unhappiness with the fee structure if you are, don’t just except it when they charge a random amount for some random service, call them up and challenge the fee, usually they refund it , through quilt, it’s about time we righted this injustice, and the banks start paying us again for BORROWING OUR MONEY!!!!!!!!!!!

Nobbydamushttp://thechickenkeeper.wordp ... ikenkeeper

[vyxxn]

The main reason this is possible is because its practically illegal to get paid in cash

[Robert Davitt Callaghan]

so far this year, and I only started 3mnths ago, I've recieved back from the bank and a timber merchant that over charged me, $135.00, effort required two 5 min phone calls ( which are free locally here granted) $95.00 and popping back to the timber store $40, thats easy money, on both sides, easy for them to take it from you, which makes it's simple to get it back, i'm sure some of these are just errors made on the spur of the moment, but well worth querying.

claim back whats yours in the first place.!!!!!!

[Meanqueen]

Hi Robert, I am sorry but I can't join in this thread, because as far as I know, I haven't paid my bank anything. I can understand your concern though, people should start kicking up a stink if they have been cheated. Good luck

Ilona

[jethro tull]

Fortunately I'm the same as you Ilona, but my son isn't. He has just been laid off from work so the first thing he did was re-negotiate with his bank so that he would be able to afford to pay his loan with them. When he went in today to deposit some money he found that they had charged him interest from going overdrawn some weeks ago and would now have to pay 28 pounds in charges and a fine because he didn't have enough in his account to pay his loan, plus charges for the next month.

He only gets a pittance in benefits and he just hasn't got the money,of course we'll help him out but it's not like he was being irresponsible (unlike the banks recently). I hate all these financial systems they draw people in and then treat them terribly when they are struggling.

Paul

[Bollybarb]

You do need to be careful with banks, if you have been charged look at this step by step guide to claimimg back.

http://www.moneysavingexpert.com/reclaim/bank-charges

There are other web sites that give help too.

I feel the whole banking system need to be tightened up, Bankers are making Billions 'betting' on our plight, and if they lose money they still get paid and we the tax payers bail out the banks

[hfbinnie]

Bollybarb that's interesting as I had a couple of charges put on a couple of credit cards recently, not my fault I should add but missing post and late bank payments. However one I challenged and it was withdrawn immediately without me even asking, the second was withdrawn manually the moment it happened and before I got the statement and before knew anything about it.

[lancashire lass]

he found that they had charged him interest from going overdrawn some weeks ago and would now have to pay 28 pounds in charges and a fine because he didn't have enough in his account to pay his loan, plus charges for the next month

Something similar happened to me a few years back - my own fault at the time. I had put a cheque in but I should have checked it had actually gone in the account (silly me, I assumed after 5 days it would) and then paid off some bills or moved money electronically into other accounts - suffice to say I soon got a pretty offesive letter and some whopping interest charges from the bank which confused me, so I rang them up to tell them off. That's when I realised my blunder and ate humble pie, but I managed to get the charges dropped thank goodness as it would have put me well over the overdraft again! If I hadn't telephoned I would have probably paid it without thinking - sometimes it's worth doing (and acting dumb) as they can only say no