I am really p..... off with banks. Not content with having my savings & paying a piddling interest rate which doesn't even keep the value of the investment, they also operate a "closed shop," which makes it really difficult to move my money around. So having had 3 savings accounts which matured this month I discovered that:-
- One of the new accounts I opened will not accept cheque deposits.
- Despite the new legislation, two others will not transfer money to a different bank without charging me a ridiculous amount of money for a transaction which takes a couple of minutes.
- One put the interest into a different account & didn't send me any information about how much interest there was or where it was.
How do they get away with it? How dare they advertise themselves as customer friendly? Savers have been getting a very raw deal on interest rates for years now due to the complete mismanagement of banks after de-regulation of the separation between investment banking & high street banking. We still have to wait a ridiculous amount of time for cheques to clear, losing interest while we wait.
Nothing has changed. No lessons have been learned. The arrogance & bonus culture continues. We, the people should rise up & force them to operate in our interests. I have no objection to profit so long as I get some of it too. The politicians & the bankers are in cahoots - interestingly that's one of my banks.
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