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From: Jonathan Wilson on 18 Dec 2009 10:52
People should do what I did and boycott the big banks (the big 4 banks plus
their subsidiaries and the big foriegn banks like Citibank and HSBC).

Do what I did and transfer your bank accounts, credit, loans etc to a
financial institution that CARES about its customers.

In my case its a Credit Union, Police & Nurses. Unlike the banks, there ARE
no shareholders to answer to. Police & Nurses is basically owned by its
members.

I have all my banking stuff (one transaction account is all I have at this
point) with them.
All I pay for the transaction account is a monthly fee of 75c for online
banking and a monthly fee of 1.50 for having a VISA Debit card.

I can take money out from any EFTPOS machine or any Rediteller, RediATM or
National Australia Bank ATM and pay NO fees whatsoever. I also do not pay
ANY fees if I go to another ATM other than what the ATM operator charges
(not like the big banks that double dip where you get charged once by the
owner of the ATM and the again by your own bank)
I can also purchase from any shop that accepts VISA and pay with my VISA
Debit card.

The only other time I have had to pay a fee is when purchasing something
from a foriegn online store with my VISA Debit card but that fee is not
charged by the bank, its charged by VISA and passed on by my bank. (and the
big banks would charge just as much, if not more, for doing this than I am
charged)

Anyone out there want to counter my arguments (either by showing evidence
to suggest that Credit Unions or Police & Nurses specifically are not as
good as I claim they are or providing reasons they continue to bank with
the big greedy banks?)
From: Mr.T on 19 Dec 2009 03:59

"Jonathan Wilson" <jfwfreo(a)tpgi.com.au> wrote in message
news:4b2ba539(a)dnews.tpgi.com.au...
> People should do what I did and boycott the big banks (the big 4 banks
plus
> their subsidiaries and the big foriegn banks like Citibank and HSBC).
>
> Do what I did and transfer your bank accounts, credit, loans etc to a
> financial institution that CARES about its customers.

Still looking for one of those! I won't hold my breathe!


> In my case its a Credit Union, Police & Nurses. Unlike the banks, there
ARE
> no shareholders to answer to. Police & Nurses is basically owned by its
> members.

And yet many are still not competitive IME. It all depends what you want
from a bank. For loans and fees they often win, for convenience, deposits
and range of services they often loose.


> Anyone out there want to counter my arguments (either by showing evidence
> to suggest that Credit Unions or Police & Nurses specifically are not as
> good as I claim they are or providing reasons they continue to bank with
> the big greedy banks?)

So do you have the details of any credit union that is actually competitive
on *deposit* rates?

MrT.


From: Mr.T on 19 Dec 2009 15:10

"Jonathan Wilson" <jfwfreo(a)tpgi.com.au> wrote in message
news:4b2c9f93$1(a)dnews.tpgi.com.au...
> Since the credit union I am with has all the services and features I want,

Which is fine for you then.

> And for deposit rates, unless you have at least 5k to invest in a term
> deposit or the like, the amount of money you will get in interest on a
> deposit is so small as to not matter (based on my own experience)

But some people do save, or there would be no money to lend to people like
you.

MrT.


From: B J Foster on 19 Dec 2009 15:16
Mr.T wrote:
> "Jonathan Wilson" <jfwfreo(a)tpgi.com.au> wrote in message
> news:4b2c9f93$1(a)dnews.tpgi.com.au...
>> Since the credit union I am with has all the services and features I want,
>
> Which is fine for you then.
>
>> And for deposit rates, unless you have at least 5k to invest in a term
>> deposit or the like, the amount of money you will get in interest on a
>> deposit is so small as to not matter (based on my own experience)
>
> But some people do save, or there would be no money to lend to people like
> you.
>

You really think so?
From: Mr.T on 19 Dec 2009 15:52

"B J Foster" <bjfoster(a)yahoo.com.invalid> wrote in message
news:hgjca0$ttq$4(a)bjf.motzarella.org...
> > But some people do save, or there would be no money to lend to people
like
> > you.
>
> You really think so?

Well they do keep printing money, but yes some people do save or the whole
system collapses eventually. Maybe you've forgotten the GFC already? Too
many stupid loans, not enough savings.

MrT.




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