Banks and Building Societies

Oneputt replied on 13/06/2018 09:19

Oneputt

Posted on 13/06/2018 09:19

AS with other folk the local branch of our bank closed a couple of years ago so the options for paying in to accounts are either make a journey to the next town, free bus pass, and use the bank there. That's not really a problem as we can always combine the trip with visiting other banks/BS where we have accounts and/or go shopping. Most of my business is done using internet banking. From time to time I do use the local post office which is a short stroll down the High Street, not too worried if account not credited for 2/3 days

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100 replies

replied on 16/06/2018 17:14

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Posted on 16/06/2018 11:07 by KjellNN

I remember it well........but now we are going well off the original topic which concerned bank branch closures.

We stay equidistant to 2 village centres where there were 3 banks in one village and 5 in the other, so a fair amount of duplication, TSB, Bank of Scotland and Clydesdale all had brances in both places, and these village centres are only about 3 miles apart.

Now Clydesdale has closed one branch, and Santander, who only have the one branch, are closing in November. We are still well served, but I would not be surprised to see further closures, most of the branches are only busy at lunch times.

Posted on 16/06/2018 17:14

There are always funds available within my credit limit or overdraft facility to tide me over when things go wrong.

JVB66 replied on 16/06/2018 17:24

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JVB66

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Posted on 16/06/2018 17:24

Going off thread a bit,it will be"interesting" if the talk that are going on with Virgin Money to join the Clydesdale group

KjellNN replied on 16/06/2018 19:41

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KjellNN

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Posted on 16/06/2018 17:14 by

There are always funds available within my credit limit or overdraft facility to tide me over when things go wrong.

Posted on 16/06/2018 19:41

But overdrafts cost money.

Ideally you need savings to tide you over, not borrowing.

replied on 16/06/2018 19:51

Posted on 16/06/2018 19:41 by KjellNN

But overdrafts cost money.

Ideally you need savings to tide you over, not borrowing.

Posted on 16/06/2018 19:51

Needs must when the devil calls

KjellNN replied on 16/06/2018 20:03

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KjellNN

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Posted on 16/06/2018 20:03

Indeed, but I worry for those who think this is a good idea!

At our age we need to make better provision.

cyberyacht replied on 16/06/2018 21:49

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cyberyacht

Motorhomer

Posted on 16/06/2018 21:49

Perhaps there's a future for barter.

replied on 17/06/2018 08:32

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Posted on 16/06/2018 19:41 by KjellNN

But overdrafts cost money.

Ideally you need savings to tide you over, not borrowing.

Posted on 17/06/2018 08:32

I use up available balance on my interest free credit first which costs nothing. If that runs out, I use the Business Account overdraft facility which costs much less in interest than the personal account. The Business account overdraft alone would enable me to manage for two months without pay from Pizza Hut. Other available credit would enable me to manage a lot longer.

cariadon replied on 17/06/2018 09:10

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cariadon

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Posted on 17/06/2018 09:10

For us to use the bank we need to travel 36 miles round trip, the Post office is 3 days a week. A lot of the small shops don't use a card machine as it's costly to run and eats into their profit margins.

I have bought a bigger step ladder in order to get into bed, and the paper money makes the mattress softer, but the coins can be a bit lumpy.

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replied on 17/06/2018 09:16

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Posted on 16/06/2018 20:03 by KjellNN

Indeed, but I worry for those who think this is a good idea!

At our age we need to make better provision.

Posted on 17/06/2018 09:16

There are people at work who live a lot closer to the edge than I do, to the extent that if their pay doesn't get credited to their account on time, direct debits bounce and the bank charges a penalty charge of £8 everytime that happens!

My cash flow position is excellent because there's money coming to me everyday in drop money and tips in addition to the four weekly pay. Even if I spend all of it, there's more money in cash coming to me the next day!

JVB66 replied on 17/06/2018 10:00

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JVB66

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Posted on 17/06/2018 09:16 by

There are people at work who live a lot closer to the edge than I do, to the extent that if their pay doesn't get credited to their account on time, direct debits bounce and the bank charges a penalty charge of £8 everytime that happens!

My cash flow position is excellent because there's money coming to me everyday in drop money and tips in addition to the four weekly pay. Even if I spend all of it, there's more money in cash coming to me the next day!

Posted on 17/06/2018 10:00

Just a couple of things to remember in your case

1 There is a lot of pressure on banks to stop the "interest free"credit cards ,as they are helping in a big way to build the mountain of debt that is getting very unstable.

2 How will drop money/tips be paid with the cashless society?