that's right banks were hard hit as punters dumped/shorted them as result of project fear and its dire predictions on the UK economy in the event of A Brexit outcome by amounts others Mark Carney. He said that there would be a run on the pound as the economy would go into free fall, house prices, would crater and unemployment would soar as investment would inevitably dry up. Well, so far he has "proactively lowered rates to ensure the economy would continue to grow" Frankly the BOE don't have much of an idea what they are doing but I would not be surprised if we are not going to see another cut in rates as it does not appear to be needed. It remains to be seen whether Yellen has the conviction to push the button in December as the US economy is not that robust just yet. The best the BOE can now do is keep quiet and out of the way while the Government gets on with running the country and PH puts together a growth budget next month. Needless our banks will not crow about conditions less Carney and his chums find another way to screw some dosh out of them, after the Uk's economic miracle recovery owes something to the £250bn or so injected into the "cash" economy. PH will have to be brave unlike his lugubrious predecessor Lets see what happen once today's option expiration passes in 20 minutes time.gl
Calisto Bank share prices seemed to drop with interest rate changes and the pound alongside Brexit news and comments. Maybe there is also a feeling the drop was a bit overdone just now as nothing has really happened yet, and there is also some less extreme tallk about Brexit and interest rates. The American results might be the reminder they have been making good profits as well.
From memory You could only close an account to dormant balances if the amount was under £10 This could only be done if no transactions for something like 6/7 years and sfter trying to make contact with the customer and checking various records It also required managerial sanction While I was typing this Lloyds have made a quick £30000 not bad eh
I know a 90 yr old man who has several old saving accounts, opened in the 1930,s where all dealing were hand written into a pass book, he recently took these into his local bank to claim his money and was told the accounts had been closed by him many years ago, however I believe computer records only go back to the 1980,s or so and no computer records exist, the pass books and not been signed off by the bank as being closed and so he is claiming his money plus 70 odd years interest, the bank have said no way, the ombudsman cannot decide so have passed this on , to who I do not know! Potentially a interesting case as there could be thousands of such accounts which even if closed there is no record showing such, I know we have several bank managers on this board and wondered if you had dealt with any cases like this?
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