Beware if you bank with Abbey...

[Simondi]

I think we all agree that most (if not all ) the banks are exploiting their customers to some degree.
I would however add a word of caution.
Despite the vast profits being made by the banking sector most of the people you come into contact with , managers included, are on VERY low pay. The staff also receive charges, face long waits to have their cheques cleared etc. BUT unlike the paying customer CANNOT complain about it.

A chap I know was recently called to one side by his account manager when he visited his branch of Lloyds. Apparently they were 'concerned' because he was keeping a relatively high balance in his current account

Also bear in mind that all the staff in bank branches have huge (and mostly unachievable) sales targets for which they are hounded by their bosses on a continuous basis.

I know it is very frustrating when bank charges etc are applied but please, please do not take it out on the poor soul you speak to, instead write direct to the banks head office/ chairman. Perhaps that way something may get done AND you can then blame the person who sets the fees Not the person who is in danger of loosing their livliehood if the don't carry it out.

[carlpenn]

Originally Posted by SimonGodfrey

I think we all agree that most (if not all ) the banks are exploiting their customers to some degree.
I would however add a word of caution.
Despite the vast profits being made by the banking sector most of the people you come into contact with , managers included, are on VERY low pay. The staff also receive charges, face long waits to have their cheques cleared etc. BUT unlike the paying customer CANNOT complain about it.

A chap I know was recently called to one side by his account manager when he visited his branch of Lloyds. Apparently they were 'concerned' because he was keeping a relatively high balance in his current account

Also bear in mind that all the staff in bank branches have huge (and mostly unachievable) sales targets for which they are hounded by their bosses on a continuous basis.

I know it is very frustrating when bank charges etc are applied but please, please do not take it out on the poor soul you speak to, instead write direct to the banks head office/ chairman. Perhaps that way something may get done AND you can then blame the person who sets the fees Not the person who is in danger of loosing their livliehood if the don't carry it out.

Alternatively join one of the main Consumer sites and see how to get the money back

Simply writing to the Bank achieves little or nothing, you will get a simple "Standardised" automatic letter sent to you in response, the actual Banking system does not care about you as a person it cares only for profit.

Many members of Banking staff have sympathy with those penalised but, as mentioned, have a gun to their head - So being nice to them is the right way to go, but there are also those staff who will talk down to you and treat you as a second class citizen too, as in all walks of life

[JamesP]

Originally Posted by carlpenn

Many members of Banking staff have sympathy with those penalised but, as mentioned, have a gun to their head - So being nice to them is the right way to go, but there are also those staff who will talk down to you and treat you as a second class citizen too, as in all walks of life

I can relate to that I a few years ago I was in my local branch apologising for having insufficient funds in my current account to meet my monthly balance, as she was entering my account details the pig with lipstick turned to her collegue & said "He's probably skint".

I was really shocked & embarrassed with a que of people behind me. I asked her if she could pay it, then wrote to the branch manager to say I wouldn't be using the card again as I don't need the abuse.

[lady zed]

I work for Barclays (who have just vastly reduced their charges btw, expect the others to follow suit), however I bank with Bank of Scotland. If I wasn't tied in with a huge overdraft with BoS that I can't pay off I would switch to Barclays in a minute. I know their customer relation policies inside out and I wouldn't hesitate to recommend them.

Also cheque clearing can be a complicated business. The reason it takes so long is that we recieve your cheque, we deposit the uncleared funds in your account, we send your chq off to go through our clearing section. Our clearing section then send the chq to the 3rd party bank clearing section. The 3rd parrty bank then check to see if the funds are available to pay out on the chq, they then pay our clearing or they don't (then the fun starts). So as you can see with the cheque being in each location for at least a day, it takes some time to clear a cheque, nothing to do with interest.

[cjmillsnun]

Originally Posted by scooterchick

I work for Barclays (who have just vastly reduced their charges btw, expect the others to follow suit), however I bank with Bank of Scotland. If I wasn't tied in with a huge overdraft with BoS that I can't pay off I would switch to Barclays in a minute. I know their customer relation policies inside out and I wouldn't hesitate to recommend them.

Also cheque clearing can be a complicated business. The reason it takes so long is that we recieve your cheque, we deposit the uncleared funds in your account, we send your chq off to go through our clearing section. Our clearing section then send the chq to the 3rd party bank clearing section. The 3rd parrty bank then check to see if the funds are available to pay out on the chq, they then pay our clearing or they don't (then the fun starts). So as you can see with the cheque being in each location for at least a day, it takes some time to clear a cheque, nothing to do with interest.

Sorry Anna, but in the days of computerisation this is rediculous.

Cheque clearing should be as simple as cheque received at bank and entered on the computer. Sent directly to clearing house of paying bank who confirm funds availability and pay out. Total time to clear 1 day.

Having said that I don't remember the last time I used my chequebook or received a cheque. I do all my banking online now

[carlpenn]

Originally Posted by scooterchick

I work for Barclays (who have just vastly reduced their charges btw, expect the others to follow suit), however I bank with Bank of Scotland. If I wasn't tied in with a huge overdraft with BoS that I can't pay off I would switch to Barclays in a minute. I know their customer relation policies inside out and I wouldn't hesitate to recommend them.

Also cheque clearing can be a complicated business. The reason it takes so long is that we recieve your cheque, we deposit the uncleared funds in your account, we send your chq off to go through our clearing section. Our clearing section then send the chq to the 3rd party bank clearing section. The 3rd parrty bank then check to see if the funds are available to pay out on the chq, they then pay our clearing or they don't (then the fun starts). So as you can see with the cheque being in each location for at least a day, it takes some time to clear a cheque, nothing to do with interest.

So the Bank is still using the same system as they did 100 years ago?

Won't get into it here, as this is the wrong website to talk about it, this site is for them lurvely cars we own (How is your new one going?)