Lex Luthor Posted May 19, 2016 Share Posted May 19, 2016 Very odd. Branches, especially the small ones, are a thing of the past. You will have to travel to city centres to pay cheques in. And cheques won't exist in 5 years anyway. People forget that a lot of banking is free. You don't pay for your account, direct debits, cash card, payments, call centres etc. I've got a better idea than changing banks every 2 minutes. Move with the times. And if you're waiting for banks to 'open up a branch locally' I would suggest their is more chance of platting fog. It seems banks want it all ways. You say that banking is free but you pay a price for this 'free banking' - they want to pay you zero interest on your money, yet charge you 20% on cards and loans and overdrafts. Without customers there would be no banks. It seems my bank aren't interested in providing what customers want though, or I wouldn't have to go in to town to put a cheque in (which there is no way I am doing) or wait in excess of 25 minutes to speak to someone about my account Link to comment Share on other sites More sharing options...
Cyclone Posted May 19, 2016 Share Posted May 19, 2016 The banking portion of it is free. That doesn't include borrowing money, of course they charge you an interest rate (although it's not 20% from HSBC for a loan, more like 4.5%). Link to comment Share on other sites More sharing options...
Lex Luthor Posted May 19, 2016 Share Posted May 19, 2016 The banking portion of it is free. Yes, although I think banks 'offset' this with paying zero interest. That doesn't include borrowing money, of course they charge you an interest rate (although it's not 20% from HSBC for a loan, more like 4.5%). I think the interest rates vary depending on many factors? Obviously still far better than these loan shark companies. Link to comment Share on other sites More sharing options...
alchresearch Posted May 19, 2016 Share Posted May 19, 2016 People forget that a lot of banking is free. You don't pay for your account, direct debits, cash card, payments, call centres etc. Which they hate, which is why they keep pushing these monthly-fee accounts. Link to comment Share on other sites More sharing options...
wrinkly67 Posted May 19, 2016 Share Posted May 19, 2016 Very odd. Branches, especially the small ones, are a thing of the past. You will have to travel to city centres to pay cheques in. And cheques won't exist in 5 years anyway. People forget that a lot of banking is free. You don't pay for your account, direct debits, cash card, payments, call centres etc. I've got a better idea than changing banks every 2 minutes. Move with the times. And if you're waiting for banks to 'open up a branch locally' I would suggest their is more chance of platting fog. As you suggest I've "moved with the times". Result? Way back, if I had a query, I could phone my local bank, speak to someone I knew, five minutes later - query sorted. Now, I have to use a centralised number, I wait in a queue, I am invited to press 1,2,3,4......., enter requested information and then speak to someone in distant lands who, whilst polite, I have difficulty understanding. Usually, on a good day, at least an half hour exercise which often leaves a sense of uncertainty rather than reassurance. I used to have a five minute journey to my local branch, I could park for free, and then a two minute exercise of paying in cheques, usually accompanied by a pleasant bit of chat. I now have to travel 8 miles where I'm confronted with a large, plush banking hall equipped to house half a dozen cashiers yet only two on duty, however long the queue. I am invited, to save time, to use the automated service to deposit cheques; even the banking official demonstrating this to me couldn't get it to work. Her explanation " I don't know why, it often happens". It took at least ten minutes. So, all in all, what used to take me half an hour including travelling time, can now take me a couple of hours plus parking fees. Progress?? Link to comment Share on other sites More sharing options...
Hambeast Posted May 19, 2016 Share Posted May 19, 2016 As you suggest I've "moved with the times". Result? Way back, if I had a query, I could phone my local bank, speak to someone I knew, five minutes later - query sorted. Now, I have to use a centralised number, I wait in a queue, I am invited to press 1,2,3,4......., enter requested information and then speak to someone in distant lands who, whilst polite, I have difficulty understanding. Usually, on a good day, at least an half hour exercise which often leaves a sense of uncertainty rather than reassurance. I used to have a five minute journey to my local branch, I could park for free, and then a two minute exercise of paying in cheques, usually accompanied by a pleasant bit of chat. I now have to travel 8 miles where I'm confronted with a large, plush banking hall equipped to house half a dozen cashiers yet only two on duty, however long the queue. I am invited, to save time, to use the automated service to deposit cheques; even the banking official demonstrating this to me couldn't get it to work. Her explanation " I don't know why, it often happens". It took at least ten minutes. So, all in all, what used to take me half an hour including travelling time, can now take me a couple of hours plus parking fees. Progress?? Why on earth should the banks be making it easier for you to pay in something they are trying to phase out? I dont blame them for making it more difficult, hopefully it will accellerate the decline of cheques into the history books. Link to comment Share on other sites More sharing options...
Cyclone Posted May 19, 2016 Share Posted May 19, 2016 Again, because they are in a competitive market, so if 1 bank makes it easy and all the others don't, then people who care about paying in cheques will switch banks. Consumers have power. If HSBC wants a domestic banking business in the UK, then it can't alienate all it's customers by doing unpopular things. Link to comment Share on other sites More sharing options...
JFKvsNixon Posted May 19, 2016 Share Posted May 19, 2016 Why on earth should the banks be making it easier for you to pay in something they are trying to phase out? I dont blame them for making it more difficult, hopefully it will accellerate the decline of cheques into the history books. Can't you pay cheques into your account using a smart phone now? Link to comment Share on other sites More sharing options...
Hambeast Posted May 19, 2016 Share Posted May 19, 2016 Can't you pay cheques into your account using a smart phone now? Dunno. I work near my bank so on the rare occasion I have to pay any in, its hardly an issue. I have posted them to my bank before when I was unable to get in to branch, they happily paid it into my account for me. Link to comment Share on other sites More sharing options...
hyper Posted May 19, 2016 Share Posted May 19, 2016 Can't you pay cheques into your account using a smart phone now?How? a cheque is title to money on a piece of paper (it's special security paper also, not normal print paper) (unless your joke went o'er my head) Link to comment Share on other sites More sharing options...
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