Bedroom Tax At Last, Our Council Speaks Out.

[Neil]

Originally Posted by Margaret Pilkington

The service isn't free.

If they don't charge you for using the account then it is free for you.

I think when the banks start charging for basic accounts they will all do it about the same time.

[Margaret Pilkington]

Neil, you may think it is free,but believe me it isn't.
Just because you can't see the bill for it, doesn't mean you are getting it for nowt.

They charge for transactions in Australia....but you are entitled to a certain number of transactions per month before you incur any charges.

If banks start charging for an account I will certainly do something else with my money and keep only the money to pay for my bills in a bank account.
They need to start looking at the needs of their customers, rather than paying out the huge bonuses.

[accyman]

way i se eit is they make money by holding onto your money for 3-5 days when putting a cheque into your account and make money from interest gained on yuor money while its in their bank

if banks want to continue to use our money they shoudl at least not charge us for having accounts.If they insist on charging people for tehir accounts then people should have the right to be paid in cash from employers and return to a cash system which the government wouldnt liek because they wont gettheir hands on every grubby penny they can

[Neil]

Originally Posted by Margaret Pilkington

Neil, you may think it is free,but believe me it isn't.
Just because you can't see the bill for it, doesn't mean you are getting it for nowt.

I don't understand that sorry. I fill the car up with diesel, it cost £75.00 and only £75.00 comes out of my account. Asda were charged for the card payment but I wasn't. I took some money out of the cash machine last night and I wasn't charged. I am not charged for direct debt payments or when I use my online banking.

Where are these charges that I don't see the bill for?

[Margaret Pilkington]

Neil, it is like when something is given 'free'.......it isn't really free the cost is factored into the goods that you buy....but you are bamboozled into thinking that you aren't paying for it because you think it is free........the organisation,company,firm want you to think it is free...that you are getting something for nothing.

There is nothing for nothing...certainly not where business is concerned.........and if you don't understand that......then I haven't explained myself well enough!

[cashman]

Originally Posted by Margaret Pilkington

Neil, it is like when something is given 'free'.......it isn't really free the cost is factored into the goods that you buy....but you are bamboozled into thinking that you aren't paying for it because you think it is free........the organisation,company,firm want you to think it is free...that you are getting something for nothing.

There is nothing for nothing...certainly not where business is concerned.........and if you don't understand that......then I haven't explained myself well enough!

Well he does live up ossy.

[Gordon Booth]

Originally Posted by Neil

I don't understand that sorry. I fill the car up with diesel, it cost £75.00 and only £75.00 comes out of my account. Asda were charged for the card payment but I wasn't. I took some money out of the cash machine last night and I wasn't charged. I am not charged for direct debt payments or when I use my online banking.

Where are these charges that I don't see the bill for?

Neil, the card companies charge around 2.5% for credit card use. Asda pay that by charging you 2.5% more in the first place. If you pay cash or use a debit card- well, they've made a bit more profit.
If the charge isn't built into what you pay you'll see an extra charge of 2.5% added to your bill.e.g. paying for a holiday with a credit card. They warn you so you have a choice-credit(charge), debit or cash(no charge).

If you could add up all the money floating around in current accounts it would be? a lot.
The banks know how much they can expect to be holding so they know they can lend that amount at 6 or 7%- that's how the cost of your current is covered.

[Margaret Pilkington]

Thank you Gordon...you explained that very well.

[Margaret Pilkington]

And if you add up what is currently in savings accounts (that is getting little or no interest - and has been like this for something like 3 years) that the banks can and do use(and charge the lender 6-7% interest - that will make them a profit of 5-6.75%)...then they do not need to charge me at point of service for anything........they have had enough money out of me.
I have saved all of my life, just so that I do not become a burden on the state........if I was asked for advice about saving, I would say don't bother. Enjoy your money while you can.......those who have not saved seem better off than me.

I'm spending mine now...I think it is called SKI-ing....Spending Kids Inheritance.

[gpick24]

Originally Posted by Gordon Booth

Neil, the card companies charge around 2.5% for credit card use. Asda pay that by charging you 2.5% more in the first place. If you pay cash or use a debit card- well, they've made a bit more profit.
If the charge isn't built into what you pay you'll see an extra charge of 2.5% added to your bill.e.g. paying for a holiday with a credit card. They warn you so you have a choice-credit(charge), debit or cash(no charge).

If you could add up all the money floating around in current accounts it would be? a lot.
The banks know how much they can expect to be holding so they know they can lend that amount at 6 or 7%- that's how the cost of your current is covered.

But rather than the purchaser paying that charge it would usually be passed on to the suuplier with the big companys like asda.

[Gordon Booth]

Originally Posted by gpick24

But rather than the purchaser paying that charge it would usually be passed on to the suuplier with the big companys like asda.

What a lovely thought! So you think they have our best interests at heart?

Every big company, Asda, Tesco, Ford etc. encourage their suppliers with bigger and bigger orders 'til they're dependent on them then they screw them on prices- they've even driven some into bankruptcy where they've had another supplier ready on tap.

But there's no profit there- that's all cost. The profit is on what they charge you! Any additional cost after they purchase-transport, running the stores, bonuses, credit card charges, profit margin- is passed on to you. That's business.

[gpick24]

Originally Posted by Gordon Booth

What a lovely thought! So you think they have our best interests at heart?

Not at all, they want to make as much profit as they can, unfortuanately for the supplier most of that comes from them. I`m not saying the buyer doesn`t pay, just the supplier pays more.

[accyman]

Originally Posted by cashman

Well he does live up ossy.

oi

theres a difference between living here and been born here

just thought id memtion that coz i dont want people thinking if you move here you turn all weird

i was already weird thankyou and i dont want ossy getting credit for years of work done by baxenden

[Margaret Pilkington]

Well Accyman...we knew that...but we like you for it anyway

[jaysay]

Originally Posted by cashman

Well he does live up ossy.

hey shut it you or