Banks

[euan2020]

Does anyone else get pissed off trying to get hold of their branch ?

I worked for RBS for 11 years, but they are fecking useless now

You end up speaking to countless folk on telephone banking without anyone taking any responsibility to help you

Branches hide behind the call centres and never speak to anyone "why don't you visit the branch" - love, its 21st century, shouldn't be old school and having to walk into offices

guys have cost me around £1500 today by not effecting a foreign xfer & nobody calls back, like the call centre promise "we'll send a message " .................

not fit for purpose, not efficient or effective

[thplinth]

If you want to know how London, England, Britain works look no further than the City. They pull the strings.

[Alan]

Fantastic reply. Poor customer service from Scottish based bank. Blame on "The City".

[stocky]

Fantastic reply. Poor customer service from Scottish based bank. Blame on "The City".

Fantastic rep;y

Scotland doesnt have any 'scottish based banks' they were all taken over by London about 7-8 years ago.

but hey why let the facts get in the way of an anti Scottish rant from Alan 9 we are too stupid and poor to have any banks)..

All UK banks are run from the city//

Alan , do you never get fed up posting anti Scottish shite on here....

cos to be sure i am fed up reading it.

if you have Scotland and all things Scottish why post on a Scottish football forum?

[andymac]

Fantastic rep;y

Scotland doesnt have any 'scottish based banks' they were all taken over by London about 7-8 years ago.

but hey why let the facts get in the way of an anti Scottish rant from Alan 9 we are too stupid and poor to have any banks)..

All UK banks are run from the city//

Alan , do you never get fed up posting anti Scottish shite on here....

cos to be sure i am fed up reading it.

if you have Scotland and all things Scottish why post on a Scottish football forum?

What an amazingly shite post.

[thplinth]

The Bank of Scotland was founded in 1695. Within what 13 years Scotland had lost her independence in large part due to a financial crisis (caused by Darien but really you could say it was the creation of the BoS that led to it). Bank of Scotland especially is the shitest of the shit. Tory party are slaves to the bankers.

Edited December 19, 2015 by thplinth

[thplinth]

Fantastic reply. Poor customer service from Scottish based bank. Blame on "The City".

Aww didums is 'Mr I blame absolutely fukking everything on the SNP no matter what' no happy with that reply?

Hmmmm you know what you can do Alan don't you...

[peever1745]

Great keeper

[Louch]

Branches are more retail outlets than banks these days. Very little is done other than selling, and old dears going in with pass books, so it's probably right that you can't call them as they won do what u need

[Robroysboy]

Great keeper

Lol

[euan2020]

Branches are more retail outlets than banks these days. Very little is done other than selling, and old dears going in with pass books, so it's probably right that you can't call them as they won do what u need

shame then - cos the folk on the phones don't know what to do - unfortunately for them i do know, which makes them look incompetent that a customer has to explain banking and what services they offer - me and other friend was discussing this, that you actually end up telling them what codes to enter into their back office system to extract data

my only solution now is make my brother visit their office, and then make them speak to me over his mobile phone

[Brassrubber]

The consequence of 2008 and bank redundancies was that most of the experienced, qualified and quality staff left the industry leaving sub standard people in charge to train new and inexperienced staff . Apart from some very bad lending decisions from some senior executives there wasnt much actually wrong with the banks but the baby was thrown out with the bath water.

Fred.

[euan2020]

The consequence of 2008 and bank redundancies was that most of the experienced, qualified and quality staff left the industry leaving sub standard people in charge to train new and inexperienced staff . Apart from some very bad lending decisions from some senior executives there wasnt much actually wrong with the banks but the baby was thrown out with the bath water.

Fred.

this is quite rude - but i have noticed that a lot of the guys who are now managers in RBS, certainly weren't top performers when i left (branch banking ) - some of them weren't the brightest, but these guys have stuck it out and are now managers - 95 there was a cull and lot of the smart managers left then

[Alan]

Fantastic rep;y

Scotland doesnt have any 'scottish based banks' they were all taken over by London about 7-8 years ago.

but hey why let the facts get in the way of an anti Scottish rant from Alan 9 we are too stupid and poor to have any banks)..

All UK banks are run from the city//

Alan , do you never get fed up posting anti Scottish shite on here....

cos to be sure i am fed up reading it.

if you have Scotland and all things Scottish why post on a Scottish football forum?

Post of the year. Accurate. Well written. Good context.

[stocky]

Post of the year. Accurate. Well written. Good context.

Cheers, Thanx Alan,First time you have ever replied to a post, so well done

and Nice to see you write a post without any anti Scottish bile in it, well done.

so i, and the rest of us can hope this is the standard you will keep for the future and in return i will ensure my spelling is more accurate for ya.

[phart]

The whole mechanism of our current banking system is a corrupt money printing enterprise. Fractional reserve lending ,creating all this commercial money for the banks via lending out at interest money they get from the central bank via deposits by citizens.

They take your money, lend out YOUR money for THEIR profit while simultaneously devaluing the currency by creating more units (pounds) and if their gambling with your money goes tits up, there is a secret insurance policy (they pay ZERO premium for)which means We pay the bill for that.

For all this talk of choice not a single political party with seats (as far as i'm aware) have any interest in changing this. Weirdly Muslims due to their rule-book don;t have all this nonsense, due to rules against Usury which is in the Christian rule book as well, but like shellfish consumption has been put aside to better batter gays and shit.

[Scunnered]

The whole mechanism of our current banking system is a corrupt money printing enterprise. Fractional reserve lending ,creating all this commercial money for the banks via lending out at interest money they get from the central bank via deposits by citizens.

They take your money, lend out YOUR money for THEIR profit while simultaneously devaluing the currency by creating more units (pounds) and if their gambling with your money goes tits up, there is a secret insurance policy (they pay ZERO premium for)which means We pay the bill for that.

For all this talk of choice not a single political party with seats (as far as i'm aware) have any interest in changing this. Weirdly Muslims due to their rule-book don;t have all this nonsense, due to rules against Usury which is in the Christian rule book as well, but like shellfish consumption has been put aside to better batter gays and shit.

[euan2020]

shame then - cos the folk on the phones don't know what to do - unfortunately for them i do know, which makes them look incompetent that a customer has to explain banking and what services they offer - me and other friend was discussing this, that you actually end up telling them what codes to enter into their back office system to extract data

my only solution now is make my brother visit their office, and then make them speak to me over his mobile phone

banks are worse than useless - eventually got 1 phone call from them and this is because my brother visited their office and made them phone

long story short - no response from them at all on payment instruction i effected, for which they held an indemnity allowing me to make bank transfers with phone/fax

ended up having to flip £20K a day to my brothers account, and get him to do a couple payments to south africa for me

bank staff are fecking clueless - at least when i was sepaking to South African Bank today, they had an understanding of Currency Forward Contracts - RBS staff were clueless

@ least i fecked them over by only sending GBP and changing the money in South Africa so they lost around £1K in currency conversion margin, if not more cos they were offering really shitty rates

[Flora MaDonald]

Insurance is even worse. Try to check a reserve on a claim and you end up in the sub-continent after half an hour for what should take 2 seconds.

[euan2020]

same old crap - RBS is really an embarrassment now, and I am embarrassed for the folk that work there

they even offer to register a complaint for you - and then the complaint never gets answered 

action stuff 4 times, and they still don't do anything from their end  

 

 

 

 

[hunchy]

So they say visit a branch but AAT the same time are closing high Street branches. My old local branch closed and they now have a mobile bank that comes round iirc once a week and only for a few hour at a time meaning if you work then it's a good chance you can't get to the bank when you need to. The local shop owners have been up in arms about it as they have to hold on to the taking for a week or travel to another branch to deposit

[Mark frae Crieff]

22 hours ago, hunchy said:

So they say visit a branch but AAT the same time are closing high Street branches. My old local branch closed and they now have a mobile bank that comes round iirc once a week and only for a few hour at a time meaning if you work then it's a good chance you can't get to the bank when you need to. The local shop owners have been up in arms about it as they have to hold on to the taking for a week or travel to another branch to deposit

Same as out my way... And they wonder why the customers move to a bank that is local.. 

[TDYER63]

On 17 December 2015 at 5:00 PM, euan2020 said:

Does anyone else get pissed off trying to get hold of their branch ?

I worked for RBS for 11 years, but they are fecking useless now

You end up speaking to countless folk on telephone banking without anyone taking any responsibility to help you

Branches hide behind the call centres and never speak to anyone "why don't you visit the branch" - love, its 21st century, shouldn't be old school and having to walk into offices

guys have cost me around £1500 today by not effecting a foreign xfer & nobody calls back, like the call centre promise "we'll send a message " .................

not fit for purpose, not efficient or effective

Not sure if you regualrly send money abroad or if this was a one off,  but if you do i suggest you give 'transferwise ' a look. Myself and a few friends have used them and it was excellent experience. And i work in treasury fx. 

 Here is a link from the telegraph which gives an overview. 

http://www.telegraph.co.uk/sponsored/finance/money-transfers/11435428/how-does-transferwise-work.html

[euan2020]

On 5/9/2016 at 1:02 PM, hunchy said:

Not sure if you regualrly send money abroad or if this was a one off,  but if you do i suggest you give 'transferwise ' a look. Myself and a few friends have used them and it was excellent experience. And i work in treasury fx. 

 Here is a link from the telegraph which gives an overview. 

http://www.telegraph.co.uk/sponsored/finance/money-transfers/11435428/how-does-transferwise-work.html

•  
• Quote

thanks 

Not sure its that competitive 0.5% is quite expensive - say GBP 500 on GBP 100,000 - typically i would expect Banks margin on a deal would be 0.25% off of a corporoate mid rate ( I'm maybe wrong here ) 

I always found you get a better rate in the country which has the weaker currency so rates i got in ZA were far superior to what the kunts in RBS were offering in December - think i was GBP 2,500 better off exchanging in ZA + the mother's wouldn't even fix a rate "it will be market rate on day of processing "  of which they would have no clue of when that would be - which is another whole story

Edited May 10, 2016 by euan2020

[TDYER63]

57 minutes ago, euan2020 said:

 Bthanks 

Not sure its that competitive 0.5% is quite expensive - say GBP 500 on GBP 100,000 - typically i would expect Banks margin on a deal would be 0.25% off of a corporoate mid rate ( I'm maybe wrong here ) 

I always found you get a better rate in the country which has the weaker currency so rates i got in ZA were far superior to what the kunts in RBS were offering in December - think i was GBP 2,500 better off exchanging in ZA + the mother's wouldn't even fix a rate "it will be market rate on day of processing "  of which they would have no clue of when that would be - which is another whole story

If you are dealing in ten of thousands or more then you may be able to obtain better than 0.5% but most likely through boutiques. Unless you are sending large sums on a regular basis you will be doing well to get better than 0.5 % from a clearing bank, though i would always try and negotiate. 0.25% is very competitive for a one off transaction. 

There is no  correlation between the weakness/ strength of a currency and the rate you will receive in either country . If both banks are quoting simultaneously  they are both working off the same interbank market rate and it will just be dependant on each banks margin .

Normally it is not possible to book a rate with a bank if they have not received your funds therefore it is usually only the remitting bank that can actually fix the rate. Unless you have a credit line with the recipient bank you cannot fix the rate until your funds have arrived, by which time the market rate could have moved for or against you as the rates move so quickly. 

If you have been able to book a spot rate with a bank in SA before you have actually sent the money to them then they are taking a big risk as there is no guarantee the funds will arrive and they would then  need to close out the transaction potentially at a loss. You may of course have a credit line to do forward contracts which would allow you fix a rate in advance. 

Either way , anyone regualrly dealing in Fx or has a large one off purchase should be able to negotiate the rate. If you find your bank is providing a poor service there are loads of boutiques who will be happy to quote competitively.