Banks Must Change their Culture

[dogtired]

Re: Banks Must Change their Culture

Feel free to use the material in the links I sent i also have the ones from Kensington, not as good though a bit more cheaply done in the first place!
It makes me wonder what Sharkleys made on the deals not just mine.
I will have to re do the Kensington as saved as pdf and new system wont let me up-load them let me know if you want me to!
DT

[dogtired]

Re: Banks Must Change their Culture

Libor 1.pdf

libor 2.pdf

Libor 3.pdf

These are the ones in th Kensington document

[Shadowcat]

Re: Banks Must Change their Culture

Snake knows all about the liquidate uk situ. I will use all links to our advantage as the press are pretty interested now and starting to realise the extent of the problem, they can also smell political scandal and they will not let go now.

I will look for links re Farringdon and Rooftop, I would lay money on them being traceable to Barclays and or Lehmans.

[Angry Cat]

Re: Banks Must Change their Culture

http://blogs.wsj.com/deals/2012/07/0...-manipulation/

[TUTTSI]

Re: Banks Must Change their Culture

Your right both Barclays and Lehmans are involved with this lot. I have a Rooftop thread where snake has given me all the gen on the converluted way Rooftop are conducting business when they are not even allowed to hold client money. Yet our payments go into a rooftop account at Barclays - they are not allowed to do under their FSA registration.

My Rooftop thread http://www.legalbeagles.info/forums/...FTOP-MORTGAGES start from where ... callmesnake has been posting - very interesting reading. I even found my property on Farringdon's list lol

Snake knows all about the liquidate uk situ. I will use all links to our advantage as the press are pretty interested now and starting to realise the extent of the problem, they can also smell political scandal and they will not let go now.

I will look for links re Farringdon and Rooftop, I would lay money on them being traceable to Barclays and or Lehmans.

[Shadowcat]

Re: Banks Must Change their Culture

Passed on Tutts.

[TUTTSI]

Re: Banks Must Change their Culture

Passed on Tutts.

Who have you passed this on to out of interest?

[enaid]

Re: Banks Must Change their Culture

Ethical Banking

Cheryl Jenkins is voting with her feet. She decided last week to ditch her current account with Barclays. And she is not alone in taking action, with thousands of disgruntled bank customers quitting the High Street giants.
The rate-fixing scandal at Barclays, mis-selling of products such as Payment Protection Insurance and the computer meltdown at Royal Bank of Scotland/NatWest/Ulster Bank has made many consumers think again about their most fundamental financial product – their current account.
Cheryl, 34, a graphics designer, says: ‘I’ve been with Barclays since I was a student. I bank online and the service isn’t bad. But in the light of recent events I’ve simply lost trust in the bank.’ She is moving a current account plus two savings accounts to Co-operative Bank.

Exodus: Graphics designer Cheryl Jenkins is ditching Barclays to join the Co-op

Cheryl, who lives with her partner in Tottenham, north London, says: ‘I’d been thinking about moving to a more ethical bank for a while. But this past week has been the catalyst. If you don’t vote with your feet by taking your business elsewhere, then you are allowing Barclays to carry on as before.’
Mutuals, owned by their members not shareholders, look to be the biggest winners from account transfers. Nationwide Building Society has reported a 40 per cent rise in the past seven days in the number of people moving their current accounts to it, with an 85 per cent jump in online applications.
Robin Taylor, head of banking at the Co-operative, says: ‘Total current account openings are up 65 per cent over the past week and transfers from Barclays have increased 90 per cent week on week.’
Norwich & Peterborough, part of Yorkshire Building Society, has seen a doubling of enquiries for its Gold current account. Santander reports a 25 per cent rise in new account openings last week and First Direct, the phone and internet banking subsidiary of HSBC, says there has been a substantial rise in enquiries about new accounts.
More...

• Fight back against the banks? Your guide to switching accounts and where the best offers are - including free money

Customers can also choose new brands that are trying to shake up the current account market. These include Metro Bank, which is opening branches in and around the M25, and Handelsbanken. This British subsidiary of Sweden’s second-biggest bank has a network of 129 branches in Britain and is growing at the rate of two a month.
Voting with his feet: Keith Sully of Egham, Surrey, moved his savings from Natwest to Nationwide Building Society | Picture: Peter Luckhurst

Consumer choice will expand this autumn when Marks & Spencer launches a current account through its new M&S Bank, which will have in-store branches. Tesco Bank and Virgin Money, which has taken over the former Northern Rock branches, are also both planning to offer current accounts.
After almost 40 years as a NatWest customer, Keith Sully, 56, has moved his current account to Nationwide. ‘Although I have had an account at NatWest since I was about 16, I don’t feel any real affinity or loyalty to the brand,’ he says.
‘My account is actually registered with a branch in Newbury, in Berkshire, almost 50 miles away, and I have no real contact with the bank.’
Keith, from Egham, Surrey, took an early retirement redundancy deal from his job as a business manager at a training centre in March and has been reorganising his finances. As an existing Nationwide saver, he decided to switch to its FlexAccount current account because of good service at the branch and a host of extras, such as free travel insurance.
Although he had made the decision to move in June before NatWest’s recent computer problems, Keith was still caught up in the mess.
His pension is paid into NatWest and it failed to transfer the money to Nationwide. Then it was transferred twice, leaving his NatWest account overdrawn.
But there can be drawbacks in moving accounts. For instance, not every bank will welcome every potential customer.
First Direct, for example, insists on a minimum income of £1,500 a month being paid into its 1st Account current account.
And Handelsbanken only wants customers with a clean credit history. Spokesman Richard Winder says: ‘We don’t profess to be able to bank everyone. We are looking for people who are in good control of their finances and who want a long-term relationship with us.’
It can also take time to win the trust of a new bank or building society, so customers may not be able to switch straight away to an overdraft facility that matches the one they have.
And on an everyday level, it may be a longer walk or drive to the nearest branch of a rival bank or building society.
Even though banks such as the Co-op are expanding their networks, they have fewer branches than the big four. And Nationwide is shrinking its network, with plans to close 23 of its 808 branches by the end of next month.
Barclays says: ‘We continue to grow market share in all key product areas and we have seen no significant change in our customers’ behaviour over the past week.’
RBS too says there has been ‘no significant change’ in the number of customers switching accounts over the past two weeks.Moving is easy, but make sure you know exactly what’s on offerSwitching current account has gradually become easier for most consumers, with banks and building societies following guidelines from the Financial Services Authority, which take the bulk of the transfer work away from the consumer.
Your new bank will write to your current bank, telling it you want to transfer. The existing provider has three days to pass on your details, including a list of standing orders and direct debits.
In most cases, the new bank or building society then contacts the organisations you regularly deal with and arranges for payments to be switched over.
But while the process has got simpler, choosing who to bank with has never been more complicated. Sylvia Waycot of financial information service Moneyfacts says: ‘Current accounts used to be simple and all virtually the same. But now they have so many different features and charges that you really need to do your homework before making a move.’
Moneyfacts says enquiries about how to change current accounts are at the highest level since September 2010.
Several banks, including First Direct and Halifax, currently offer £100 for switching to them. Santander pays up to three per cent interest on credit balances with its 123 Current Account, but there is a £2 monthly fee.
Waycot says: ‘Be honest about how you will use the account. There is no point switching for an introductory incentive or high interest if you regularly go overdrawn and end up moving to an account that has higher overdraft fees.’


Sha





Read more: http://www.thisismoney.co.uk/money/s...#ixzz20I1frcUS

http://www.thisismoney.co.uk/money/s...cal-banks.html

[dogtired]

Re: Banks Must Change their Culture

This in more "local" news
http://www.edp24.co.uk/news/norfolk_...tion_1_1441301

[alham]

Re: Banks Must Change their Culture

Has anyone heard this morning Radio 4 "Midweek", Dave the Banker? He explained the problem: - when someone making things sells them for £5, and the bank loans the buyer £5 to buy the product but charges them up to £5 for the privilege, that's where the problem is.

Philosophically speaking, as money is a figment of the state (I promise that this piece of paper has value, really!), and quantitative easing involves someone in the BoE entering one followed by some zeroes on the computer screen and hey, bingo, Banks have more imaginary money to LOAN TO US are we surprised? Banks to the large extent appear to be a vehicle for taking money from Joe public and transferring a large chunk of it to the banker. And, as State operators and bankers often (very often) have the same background, they are batting on the same side -boom and bust are great for both businesses; and if one side gets caught with hand in the cookie jar, a period of rearranging deckchairs on the Titanic, legally speaking, and then back to business once dust settles down! Both politicians and bankers sounded so surprised when all markets crashed - but when a family on average income can buy a huge house, borrowing 5 and 6 times their income - there is something wrong as SO many people have predicted. But then greed ( which what drives politicians and bankers, after all) kicks in and we all join merry bandwagon.

I am not taking political sides by the way, both Left and Right have good and bad points.

[Shadowcat]

Re: Banks Must Change their Culture

This in more "local" news
http://www.edp24.co.uk/news/norfolk_...tion_1_1441301

I don't remember Robin Hood going to Butlins on any money he took.

[MIKE770]

Re: Banks Must Change their Culture

I don't remember Robin Hood going to Butlins on any money he took.

If he did , he would be a lighter shade of Green.:beagle:

[Angry Cat]

Re: Banks Must Change their Culture

Hmmm, Keith may not be happy with the Nationwide, either...!

[dogtired]

Re: Banks Must Change their Culture

And he only got fined £1 according to the report.!

[Magrew]

Re: Banks Must Change their Culture

Ethical Banking,

Is there anywhere that can give you an ethical summary on banks. I am aware of this being published in regard to where they invest but I never seen it as how they operate.

How do we know how banks are behaving behind the scenes to judge where it is most appropriate to stash our wads of cash before things like the Libor issue blows up?

For example, in Scotland, Dunfermline Building Society was a shining light as a successful mutual society but it was one of the first victims of the crash. Too much exposure to sub-primes but there was no evidence of that on the surface.

How can Joe Bloggs find these things out before the embarrasment?