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Does daily chart show a hammer on downtrend? RSI 26 Oversold. Time to buy?
Unauthorised overdraft rate now 40%
1.5 to 2% where can you get this low rate?
"Buy the dip" lloyds is cheap as chips
https://www.fool.co.uk/investing/2020/02/26/is-the-lloyds-share-price-outstanding-value-or-a-value-trap/
And once this corona virus is gone and fewer bodies are wheeled out on the cart, these shares will go back up 15% over a few days to the crappy level of 57p or so
Re no money from current accounts, l beg to differ; you would be surprised how many idiots leave balances into the hundreds of thousands sitting in current accounts paying zero interest. That cash is still on the banks deposit balance sheet and they are lending against it making 1.5/2% while not having to give anything back. Then there are the idiots who like to run an overdraft monthly creating an extortionate interest return to the Banks, so l argue that the current account is the most lucrative one which banks have.
ERV I've now reverted to cash as much as possible. If we lose cash we lose our liberty and are giving government more ability to tax us.
Sounds pretty Micky Mouse to me. There are some pretty decent ones out there right now. Personally Starling has been the best for me. As a Lloy customer I find it pretty irritating a monthly fee to manage the current account is taken out.
I dont think TODAY is that day of opportunity,
I believe the CORONAVIRUS has been subdued, suppressed, and far greater numbers are INFECTED, so
China will have a melt down.
I see Lloyds sub 50p, and the redundancies timing news will not help their plight.
Mortgage rates held/maintained is NOT good for Lloyds profits.
Will Lloyds deliver their DIVIDEND as forecast ?????
My interpretation only, so GLA invested
Revolut Metal account @ £12.99 pm only allows "free" cash withdrawals of £600 pm. Any withdrawals above the monthly limit you will be charged @2%. All aimed at cashless society imv. Maybe some folk don't realise the importance of retaining the right to use cash. Revolut basic and premium only allow "free" cash withdrawals of £200 & £400 pm respectively. Doubt these accounts will appeal to any who wish to retain the right to use cash for the rest of their natural ...
BB Great then you don't need to worry at all about the future of the business do you? I guess they can keep shedding jobs (780 more announced today) and slimming down as the IT services catch up and take up the load. Enjoy the ride with LLOY and lets see how it all pans out in 5 years time. Over and Out.
Grayling a number on here work in banking and are intimately involved in retail or commercial banks. Lloyd's is a 500bn asset bank with 30bn CET1. Revolut doesn't have the required capital to compete outside of risky niches Lloyd's don't want to bother with.
Educate yourself https://www.theguardian.com/business/2020/feb/25/digital-bank-revolut-becomes-uk-most-valuable-fintech-startup-cash-injection-airbnb-spotify
Obviously the article has a negative slant as it is in the anti capitalist Guardian but the numbers don't lie. This is the future of banking. Oh and don't mention Metro they are a shambles and everyone knows it.
Just asked my son, my daughter, lad next door, my 2 nephews and the girl in Halifax branch while I was "out" down the town. None of them heard of Revolut. Son asked if was a new computer game.....??
I googled Revolut bank
Is Revolut safe?
Yes, Revolut is a legitimate company and a secure option to send money abroad. The company is authorized by the Financial Conduct Authority (FCA). However, your money is not covered by the Financial Services Compensation Scheme.
Goodbye GRAYLING you can take the Revolting Bank with you, it will probably be turned into a Weatherspoons in a couple of years.
Correct Eccles. Not a bean in current accounts.
Oh what a surprise Eccles has never heard of Revolut. Well matey that is because you don't get out much (too risky by half this going out business). Ask a few people under the age of 40 is they have heard of or use Revolut and you will be surprised. Also they are not the only alternatives to the big 4 around. I have both a private (free) account and a business account with them and compared with Lloyds business banking it is a sheer joy to use. As for the rest of it Credit cards are all Yank businesses fronted by UK banks (Mastercard, Visa, Amex) so no big bucks there, and as for insurance and mortgages there is no moat around any of that which says it cannot just wither away and die as competition hots up. As for safety ask yourself who's IT is safer Lloyds antiquated systems or the Revolut which lives and breathes hi-tech IT services. The bricks and mortar years are over mate and most people (other than old age pensioners) saw that one coming years ago. Reliance on customer inertia for survival in a competitive market is not a sound business strategy, just ask Centrica how that one is going!
You don't seem to understand Grayling neither Lloyds nor any other bank makes much money from operating current accounts. They do it by mortgages, loans, insurance, credit cards and one or two other less notable activities. The "upstarts"have to do the same and there is no "slowly shrinking retail market" because everyone needs a bank account and always will. Folk bank with LLOY and the other biggies because that is the safe thing to do; am I going to bank with "Revolut" who I have never heard of and don't have a branch nearby? NO WAY!
Methinks the covid19 outbreak is the very least of Lloyds problems. Basically it is outdated and, post financial crash, it has a very poor reputation (not helped by the PPI scandal). The business model is basically trying to cling on to a slowly shrinking retail market share in a climate where low interest rates will persist and make it very hard to increase profit margins. Its IT systems have been fragmented and under invested in for years and they are now faced with upstart banks like Revolut who have none of the latter problems. Investment banking (where the big bucks are made) is no longer a UK activity we are leaving that to the yanks, but Lloyds were never in it anyway (only Barclays remains wedded to the model now). All the high street presence is now gone (mainly turned in to Wetherspoon pubs). So ask yourself the question when all of your banking is done online or on you phone, what on earth would make you bank with Lloyds? I bought these as a recovery play sub 50p and should of got out in the brief euphoria of the 70+p days. Got out this am and have put the money into something with a decent chance of recovery post Covid19. Goodbye and good luck.
Oh no! FTSE is rallying! I must have missed the signal! We are one case down on yesterday! happy days
Of course! we live in world where algorithmic trading is the norm. Media outlets such as Bloomberg are closely monitored by hedge funds and maybe even supplied with copy to pump out "news" containing easily picked out words such as infection death, spread pandemic and so on. Look out for slowing infection rate, cure, anti viral, breakthrough for the tide to reverse. we have been through this time and time again.
This could definitely get a hell of a lot worse before it gets better, that's where the trouble lies in trying to pick the right moment, as always with buying/selling. I totally agree with holding fire, could even be a month, its just whenever that good old 'buy instinct' kicks in, but it wont be for a while as this could go way lower, but I hope that when it does i'll be there to capitalise off it !
Yes, media largely to blame for the panic, well they have to earn a crust:)
Look what the media are doing with the Locust outbreak, ffs Locusts are edible, get Heston to hand out recipes.
Take care Krimh, one area of buying concern is what happens is this virus is declared a pandemic? I have never experienced one so I do not know, do you?When people get scared the herd mentality takes on a life of its own.
Time will tell but usually fear equates to negativity.
I see you recommend holding fire for at least a week or so and that is advice I will take myself.
Good luck.