NatWest

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NQIT
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NatWest

Post by NQIT » Sat Jul 23, 2016 7:16 pm

Had a letter from NatWest this week with changes to account terms and conditions. Usual stuff apart from, they now reserve the right to charge the customer interest on credit balances! Hmmmm.
Here we go again, hold tight.

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RGSP
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Re: NatWest

Post by RGSP » Sat Jul 23, 2016 7:49 pm

NQIT wrote:Had a letter from NatWest this week with changes to account terms and conditions. Usual stuff apart from, they now reserve the right to charge the customer interest on credit balances! Hmmmm.
Well that's what Osborne was planning to do in September anyway, and why he was sacked, and why he'll never get a senior government post again (I hope).

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Bloomers
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Re: NatWest

Post by Bloomers » Sun Jul 24, 2016 8:11 am

I've been with Natwest years,Mrs B has changed banks a few times to get some reasonable offers to new customers and its worked well.Not getting the returns on money that she is now so maybe its time to change? :?



Was listening to this in the week,called how low can rates go?

Bit over my head some of it but makes interesting listening.Bright future? hmmmm.

http://www.bbc.co.uk/programmes/b07krycg
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Raggy
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Re: NatWest

Post by Raggy » Sun Jul 24, 2016 8:36 am

NQIT wrote:Had a letter from NatWest this week with changes to account terms and conditions. Usual stuff apart from, they now reserve the right to charge the customer interest on credit balances! Hmmmm.
Better of sticking it under the mattress. :wink:
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Coltheox
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Re: NatWest

Post by Coltheox » Sun Jul 24, 2016 8:45 am

Bloomers wrote:I've been with Natwest years,Mrs B has changed banks a few times to get some reasonable offers to new customers and its worked well.Not getting the returns on money that she is now so maybe its time to change? :?



Was listening to this in the week,called how low can rates go?

Bit over my head some of it but makes interesting listening.Bright future? hmmmm.

http://www.bbc.co.uk/programmes/b07krycg
Japan still going through the aftermath of zero interest rates. People and businesses will not borrow money if they foresee bad times ahead. Also, there is always the mind set of 'What I want to buy will be cheaper next week'. Deflation. That stagnates growth, as everyone is waiting for the market to 'bottom out' before they buy or invest.

I can remember the opposite scenario in the 1970's, when inflation was running at 28% (yes, 28%) and the price of everything was rising on a weekly basis. Horrendous times, with mortgage rates at 15%.

Low interest rates have their problems, but having seen both ends of the spectrum, I know which I prefer. Give me low interest rates any day.
Full English Brexit, please!

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RGSP
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Re: NatWest

Post by RGSP » Sun Jul 24, 2016 9:04 am

Raggy wrote:
NQIT wrote:Had a letter from NatWest this week with changes to account terms and conditions. Usual stuff apart from, they now reserve the right to charge the customer interest on credit balances! Hmmmm.
Better of sticking it under the mattress. :wink:
They have had negative interest rates in Sweden, and of course that is exactly what happens. Basically, negative interest rates as a policy do not work, and cause all sorts of collateral damage and unintended consequences.

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Re: NatWest

Post by The Pretender » Sun Jul 24, 2016 9:29 am

Banks are shops that sell money. If you don't like their products do as you would any other shop.
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NQIT
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Re: NatWest

Post by NQIT » Sun Jul 24, 2016 5:14 pm

The Pretender wrote:Banks are shops that sell money. If you don't like their products do as you would any other shop.
I would agree, but I'm not buying money. It is a business account, always in credit. We will go elsewhere if it happens, but if NatWest do it, so will the others.
Here we go again, hold tight.

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Lord Muck
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Re: NatWest

Post by Lord Muck » Sun Jul 24, 2016 6:07 pm

NQIT wrote:
The Pretender wrote:Banks are shops that sell money. If you don't like their products do as you would any other shop.
I would agree, but I'm not buying money. It is a business account, always in credit. We will go elsewhere if it happens, but if NatWest do it, so will the others.
You mean they let you run a business account absolutely free ?
Thought not.

Lloyds have started doing similar things.
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NQIT
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Re: NatWest

Post by NQIT » Sun Jul 24, 2016 7:08 pm

Lord Muck wrote:
NQIT wrote:
The Pretender wrote:Banks are shops that sell money. If you don't like their products do as you would any other shop.
I would agree, but I'm not buying money. It is a business account, always in credit. We will go elsewhere if it happens, but if NatWest do it, so will the others.
You mean they let you run a business account absolutely free ?
Thought not.

Lloyds have started doing similar things.
As it happens, yes they do. They do, however, have the use of my credit balance foc.
Here we go again, hold tight.

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Re: NatWest

Post by The Pretender » Sun Jul 24, 2016 7:34 pm

NQIT wrote:
The Pretender wrote:Banks are shops that sell money. If you don't like their products do as you would any other shop.
I would agree, but I'm not buying money. It is a business account, always in credit. We will go elsewhere if it happens, but if NatWest do it, so will the others.
If they are going to charge you for staying in credit, you might as well keep it a pound in the red and put the money somewhere else. Obviously they are providing a service which needs to be paid for.
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Lord Muck
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Re: NatWest

Post by Lord Muck » Sun Jul 24, 2016 9:54 pm

NQIT wrote:
Lord Muck wrote:
NQIT wrote:
The Pretender wrote:Banks are shops that sell money. If you don't like their products do as you would any other shop.
I would agree, but I'm not buying money. It is a business account, always in credit. We will go elsewhere if it happens, but if NatWest do it, so will the others.
You mean they let you run a business account absolutely free ?
Thought not.

Lloyds have started doing similar things.
As it happens, yes they do. They do, however, have the use of my credit balance foc.
You think they don't charge you anything ?
I'd have a closer look if I were you.
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NQIT
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Re: NatWest

Post by NQIT » Sun Jul 24, 2016 10:16 pm

Lord Muck wrote:
NQIT wrote:
Lord Muck wrote:
NQIT wrote:
The Pretender wrote:Banks are shops that sell money. If you don't like their products do as you would any other shop.
I would agree, but I'm not buying money. It is a business account, always in credit. We will go elsewhere if it happens, but if NatWest do it, so will the others.
You mean they let you run a business account absolutely free ?
Thought not.

Lloyds have started doing similar things.
As it happens, yes they do. They do, however, have the use of my credit balance foc.
You think they don't charge you anything ?
I'd have a closer look if I were you.
I don't think it, I know it. Bank charges = £0 per month. They are welcome to double the charge.
Here we go again, hold tight.

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Lord Muck
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Re: NatWest

Post by Lord Muck » Sun Jul 24, 2016 10:49 pm

NQIT wrote: I don't think it, I know it. Bank charges = £0 per month. They are welcome to double the charge.
So you don't get charged for using any of their facilities, paying in etc ?
So they just let you use their bank and don't charge you for any of it ?
If that's the case you must be a new customer.
Or is this a personal account ?
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McFarmer
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Re: NatWest

Post by McFarmer » Mon Jul 25, 2016 12:24 pm

Big corps can't stick it under a mattress, the money sitting there is what they are after.

The US treasury for years has had an account where you can buy treasures and get zero return, just the safety of a US treasury bill.

Some big corps have butt tons (standard measure) of cash sitting around. They want them to spend that or give it to shareholders.
Measure twice, cut once, curse, repeat.

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