Bank - honesty

I am so used to dishonest banks and financial organisations with their hidden charges and misleading statements that I was absolutely delighted to receive a letter this morning from the Nat West that was totally honest.

They were offering me a Black credit card with an annual charge of �£250, and an APR of 50.3% calculated under the Consumer Credit Act regulations. At the top of the letter it said -

It sure does :D

 

Oh come now Peter, the banks are very fair. I had three accounts with one bank and once, the one I used for direct debits got down to �£19 credit without my noticing it. Unfortunately a direct debit was due for �£25. As there is no overdraft facility on this account they refused to pay it and charged me �£45 for the privilige. Then, because there was only �£19 in the account and they couldn't take there �£45 immediately, they charged me a further �£35 for that. When I pointed out that there was a 4 figure sum deposited with them they said that I should have transferred it myself before the DD was due. So not paying out �£6 (presumably because I wasn't good for it) cost me �£80. It also cost, you guessed it, Natwest bank, my custom. All the banks are as bad though.

 

Thats ridiculous John. But there are so many horror stories. However I was once told that the customer has no leverage except for closing their bank account. Apparantly all account closures had to be explained to their superiors, and I was told by an assistant bank manager that sometimes under threat of closure they will withdraw charges. But I was told that a long time ago - it may no longer apply.

I agree with you I would close my account on principle - even if it cost me money. If we all voted with our feet the banks might not be able to behave as they do,

 

Actually Peter, I did get a call from the bank saying that 'it was an administrative over-sight' and if I didn't close my account then it would not happen again.

That made me even more mad. If it was an 'administrative over-sight' then why didn't they immediately return my �£80. When I raised this point they said that although they had been 'slightly over-zealous' they were technically correct, and although they would watch to see it didn't happen again for such a small amount, they were unable to refund at that time. I said that in that case I was technically correct in moving banks and taking my small number of thousands with me.

 

Well Done !! Their comment sounds like a fob off.

I used to work as an accountant in the NHS for a while. I found many of the attitudes and methods on the admin side horrendous after having worked in industry. I had direct contact with patients and had to fend off a lot of complaints of various types. Whilst I genuinely did as much as I could - the catch-all get out clause in a letter of reply was "our system has been changed to ensure it will not happen again" - this was sent out irrespective of what, if anything, had been done.

 

I hate those sort of phrases. The one that bugs me is when someone who has ******ed something up uses the phrase "in hindsight" as though that makes it OK then. The next time I see someone who has sent me a letter with that phrase in they better have plenty of vaseline cause I am going to file it in the most appropriate orifice.
I have just come back from a meeting where some arsehole tried to use that as an excuse.... Wonder how many of these cuss words will get through.grrr!

 

Good for you Shiney..

 

Well I just hate the management speak we get in education nowadays, what I call the organic style of management ie. full of complete bull****. We get these senior managers who go around wearing their smart suits who are about as much use as a chocolate teapot.
I used to wear a sports jacket and I thought it looked better the saggier and tattier it got - the pockets were always full of pens, notes, confiscated tennis balls, rubber bands (also confiscated), pencils - I kept my phone in the other pocket. Then my wife bought me a dark jacket with matching trousers. The female head then commented on how smart and efficient I looked. She then reeled back in shock when i retorted "stuff that i don't want to look like management, I need some leather arm patches and look like a proper teacher".

 

Shiney - I did like your comment. I agree with you that taking the P*ss can be far more effective than getting angry.

If you are feeling really naughty there are ways of taking the p*ss, is such a fashion that the speaker doesn't realise but everyone else does.

 

I'm glad I never take the p*ss.

 

:D :D :D - you are not extracting the michael now are you?