Concern over new current accounts

Concern over new current accounts

news.bbc.co.uk

A consumer group say it is concerned about the fees and charges attached to a new breed of current account.

Some banks use cash bonuses to entice customers to sign up, but overdraft charges can be as high as £5 a day.

Earlier this month, Halifax Bank of Scotland launched its Reward Current Account, which offers a monthly cash bonus of £5 for every £1,000 paid in.

(visit the link for the full news article)



Related AboveTopSecret.com Discussion Threads:
Zeitgeist Addendum Released
Modern Money Mechanics (FREE pdf)

One thousand pounds a month to get five pounds... LOL

That's 4 loaves of bread (depending on which brand you buy) given to you..and where does this five pounds come from?

Fractional reserve banking, that's where.

Dont' know what fractional reserve banking is?
Then please do take the time to watch this;
www.abovetopsecret.com...

And here is a link to Modern Money Mechanics as discussed in the above video;
www.abovetopsecret.com...

"Well it seems like a bit of a coincidence that while this court case is going on - and it looks like the banks are going to lose and have to repay consumers what they've unfairly charged them - that they are actually introducing a whole range of accounts with different charging structures."

This stinks of the very same cyclical process described in Zeitgeist Addendum. These banks are bailed out by us, the tax payer, then we are offered a bonus if we give the banks more. Meanwhile, they may very well have to pay back all of the charges they have overcharged us by..and where do they get this cash if they can't afford to keep themselves in business?
From fractional reserve banking, that's where and they need your thousand pounds a month in order to generate, fraudulently, the money they will need to pay back to us.

When will the public wake up to this outright scam?

But some MPs say it is a worrying development on the part of the banks and are urging them to spell out the true cost of these deals when selling them.

But they still wont tell you the real bare bones of fractional reserve banking... and we all know why.

Walk into any and every bank in your town centre..ask anyone in there if they know what fractional reserve banking is, how it works and why are the banks creating this fraud?

You will be very lucky to get an answer. I already have done this and nobody I have spoken to so far has any idea what this process is. It is even being held back from the banks staff.

Because they are still part of this cyclical scam that enslaves us all.

We must break these chains and as fast as possible.

Slavery is illegal, isn't it?

news.bbc.co.uk
(visit the link for the full news article)

[edit on 28-3-2009 by Extralien]

reply to post by Extralien

You highlight a an area of society that makes me so angry it's untrue. The anger doesn't stem from the fact it revolves around money but from th efact that these banks hide behind sheep like call cenre staff that haven't the knowledge or motivation to help us out... in anyway.
You particularly highlight Halifax, I can say first hand that these guys are moraly disturbed. From taking money without asking to charging vastly high amounts. They have stepped up their strictness against me since I claimed back £2000 in bank charges a couple of years back - I think they hate me as I was one of the first in. I did have to pretend that I had signed power of attorney over to my solicitor, then put on a fake accent and talk to them on the phone pretending to be said solicitor - worked though.

Wow, I've just splurged all over your thread, sorry... guess I'm saying good thread needs to be brought to light.

most of the banks have also stopped paying even nominal interest on current accounts - HSBC for example charge interest per day on your overdrawn balance , you get hit for a flat £25 `arrangement fee` and that can be applied everyday AND you also get get charged 19.9% per day of the balance in interest.

this being the same people that have slashed interest payments to nearly 0 for saving

and yes , they have lost in the courts , the charges are unfair so get a claim in if you have been charged at all since 2001 (when the court ordered a freeze on the time clock)

Its time to play the buggers at their own game...

Any letters you have to write to the bank should state that a charge equivalent for one of their own letters will be applied, and nonpayment of said charges will incur legal action to recover costs

Also, when you sign up for a bank account or service, you enter into a two-way contract, and any changes made by the bank will be deemed as breach of contract and legal action taken.

If enough of us do it, they will take notice!

reply to post by Extralien

Slavery is illegal, isn't it?

Well ... considering that empires have consistently been built on the backs of slaves throughout recorded history, regardless of its legality, it should come as no suprise that it's still alive and well ...

I am reminded here of that well known fairy tale of the, "wolf in sheep's clothing."

Consider the following -

Confessions of an Economic Hit Man

"Covertly recruited by the United States National Security Agency and on the payroll of an international consulting firm, he traveled the world—to Indonesia, Panama, Ecuador, Colombia, Saudi Arabia, Iran and other strategically important countries...Perkins reveals the hidden mechanics of imperial control behind some of the most dramatic events in recent history, such as the fall of the Shah of Iran, the death of Panamanian president Omar Torrijos, and the U.S. invasions of Panama and Iraq."[1]

According to his book, Perkins' function was to convince the political and financial leadership of underdeveloped countries to accept enormous development loans from institutions like the World Bank and USAID. Saddled with huge debts they could not hope to pay, these countries were forced to acquiesce to political pressure from the United States on a variety of issues. Perkins argues in his book that developing nations were effectively neutralized politically, had their wealth gaps driven wider and economies crippled in the long run. In this capacity Perkins recounts his meetings with some prominent individuals, including Graham Greene and Omar Torrijos. Perkins describes the role of an EHM as follows:

Economic hit men (EHMs) are highly paid professionals who cheat countries around the globe out of trillions of dollars. They funnel money from the World Bank, the U.S. Agency for International Development (USAID), and other foreign "aid" organizations into the coffers of huge corporations and the pockets of a few wealthy families who control the planet's natural resources. Their tools included fraudulent financial reports, rigged elections, payoffs, extortion, sex, and murder. They play a game as old as empire, but one that has taken on new and terrifying dimensions during this time of globalization.

Souce : Wikipedia

And has anyone noticed the sudden increase of TV advertising for all these banks after the recent upsets we've been seeing and hearing about?

Nearly every adverts suggests a fair deal, good customer service, a caring attitude or a financial bonus of some description.

Brainwashing nonsense from my point of view.

These adverts go on as if nothing has happened..they play them over and over again. In particular the Halifax and Natwest.

An with the G20 stuff about to kick off too.. I think the banks are really worried. As they should be too...

We are no longer the sheep they expect us to be... these sheep now have teeth.