one alternative bank

[micko19]

I have gone to www.thinkbanking.com ....

Abbey paid out handsomely last year thanks to you guys but now they have more strange named charges and just as much. I am not saying think banking are perfect.... I dont know yet as i have just joined..... but i would rather pay 10 a month with the guarantee of no charges. It is vastly more honest.

 

Pure joy cancelling all my debits from shabbey money thieves....

 

Think banking had to happen and i bet there will be a load of copy cats in the next 6 months as the banks realise their income is walking out the door regardless off the result in OFT VS BANKS litigation...

 

cheers

 

After further research and some bad views in forums i decided to cancel account under the 14 day cooling off period. They told me they cannot send a cheque(for 700 i put in) and i have to collect from an rbs on the day of cancellation only. So more fool me I am sending them 14 day lba and will go straight to the courts for my money

 

TO BE AVOIDED

 

SORRY FOR PREVIOUS POSTS

[Gez]

Banks make enough money out of us by lending our money to others & making interest on it interest. I won't be paying for a bank account..

[Shuff]

www.thinkbanking.com ....

 

 

Aren't these Just the Royal Bank of Scotland?

[mailmannz]

There is a £12.50 monthly account fee!

 

Mailman

[Castlebest]

There is a £12.50 monthly account fee!

 

Mailman

 

A lot of people will prefer this system, £12.50 a month that you know will be taken can be budgeted for and its not actually a huge sum compared with the charges we have all been paying to the high street banks.

 

Personally I don't want free banking, my dad always used to say there is no such thing as a free lunch and its true. I will pay for a good service that doesn't let me down and I will be looking at this option to see if they can do just that.

 

pete

[Mister Twister]

I think £12.50 is very acceptable. I paid NatWest up to £24 per month for a Gold Account for 11 years and I still don't know why!

 

More fool me.

[Castlebest]

I paid HSBC £150 plus a month for sweet FA try telling me £12.50 is expensive.

[johnnymitch]

I'm only paying £10 a month with my Lloyds/TSB Gold account........ although they're desperately trying to 'upgrade' me to a Platinum,....at £15...... LOL! - on their bikes!

[Castlebest]

as long as there is no bullshyte I will pay a reasonable amount for the service but if they try to screw me I will screw them

[Michael Browne]

Think banking customers would, of course, provide a nice target market for Gregory Pennington, who own Think banking and who just happen to be a debt management company.

[micko19]

Thanks for all the interest in the post.

I would not act as a promoter of any bank till i have tried it out and would like to be very clear on that as i said in my first mail.

 

What i think is ....that this is indicative of a large change in the banking landscape and its good to know that if the courts let us down after the onslaught of britains 70 best lawyers hired by the banks we can still act. If we all moved to these sort of banks the other banks will lose their huge incomes from illegal penalty charges anyway....................

 

The cat is out of the bag and the landscape has changed....

[johnnymitch]

Think banking customers would, of course, provide a nice target market for Gregory Pennington, who own Think banking and who just happen to be a debt management company.

 

What a jolly wheeze Michael.... first help you get in debt - then charge you for helping you out of it..........

 

I quote from thinkbanking's website :

 

No Credit checks required

No more Overdraft Fees

Open to Everyone

Easy Opening Process

 

So, - Bring 'em in, let them do what they want without restriction - then when they get in the s**t, - Bang! - 'Of course we'll help you out, Sir,' -......'but'.............. Ha-ha - gotcha!

[Guest vortex]

Here is the original discussion last year on this subject

http://www.consumeractiongroup.co.uk/forum/word-banks/113357-new-type-bank-account.html

[johnnymitch]

Thank you for that Vortex.......I think everyone should read that link... proves you don't get owt for nowt these days. My tame scenario above is a mere pimple compared with the actual running sore that could be opened by this - and it's RBS backed..........!!!!!!!!!!

[pelham9]

Banks make enough money out of us by lending our money to others & making interest on it interest. I won't be paying for a bank account..

 

If you deposit £1000 in a bank they pay you say 5.5%. The multiplier effect means that they can lend a minimum of 10 times your £1000 ( maybe 100X) ie £10000 at say 8%. So they can receive £800 interest on your £1000 for a payment to you of £55.

 

If you do not believe this go to youtube and search for 'money is debt'