Stinkin' banks!! Query re charges w/rant thrown in

Re: Thanks folks!

Thanks 0. I am thinking about the UFirst account too. The bumpf (wonder what the etymology is for that word, however you spell it) claims you can get discounts off carloans so I'm going to see if I can get that applied to loans I already hold as well. Will keep all informed if I make progress.

Rebecca

New Charges for Ulster bank !

Like some posters, I too left the AIB many years ago not wanting to 'give' them £100 (as it was then) to allow them the pleasure of using my money. And here we are again with Ulster Bank doing the same! I'm the wrong side of 50 but not 65 but am actually a full time third level student and am now looking forward to going into my local branch to look for my 'free banking'. I'm armed with all the info. gained from previous posters regarding NIB which I didn't know and have no problem closing up shop and moving direct debit, standing orders, etc to NIB is necessary, though it is all a pain in the bum, but feel unless you 'speak with your feet' we'll continue to be ripped off. Thanks to all the informative posters for your information.

Regards,
Pressured (financial and academic) full time 50+ student!

Oh let them make a few bob, will you?

The fact is if all the business you do with a bank is maintain a current account with a few hundred euro in it, and do no other more profitable business (loans, mortgage) with the bank, you are costing them money -- even when the foregone interest on your current account is considered.

If a business is incurring a cost to deal with a customer, it is right and prudent to charge that customer. And if the customer doesn't like it, s/he can of course move their business elsewhere.

When I was younger, poorer and living in the US, I used to churn my bank account every year when the initial "free banking" offer expired. (Many banks over there do this to lure new customers). It soon becomes more trouble than it's worth.

If you want good service from any business, you have to let them make a profit. Otherwise they go out of business and you're inconvenienced.

Never thought I'd see myself sticking up for the banks but there you go! I think the fees are reasonable enough for what you get in return.

Oh let them make a few bob, will you?

I've no objection to paying for a transaction that requires time and effort from the bank - getting a draft or transferring money abroad and so on. I do object to being charged for internet & ATM transactions which cost the bank nothing and actually free up staff in the branches to sell house insurance and pensions or whatever.

Oh, and the fact that the buggers make a billion euro a year profit doesn't encourage sympathy for them...

Re: Oh let them make a few bob, will you?

charged for internet & ATM transactions which cost the bank nothing

Click to expand...

Have you any idea of the capital costs involved in building an ATM network or a secure on-line banking service?

Oh let them make a few bob, will you?

> Have you any idea of the capital costs involved in
> building an ATM network or a secure on-line banking
> service?
I happen to have written one (secure on-line banking service)! It's a lot cheaper than hiring extra staff to service the huge queues of customer that would otherwise be in the branch...

Re: Oh let them make a few bob, will you?

I wasn't argueing over whether it was cheaper or not. I was argueing over your statement that these transactions 'cost the bank nothing' - which was way off the mark.