The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Thursday's key Bank of England decision.
Given how unpredictable the looming decision on whether or not to cut interest rates is, we would expect the Pound to initially fall should the Bank opt to cut
Good to hear someone here talking finance,livestock.
As for the armchair micro biologists here, nobody lives forever.
banks have two weeks to explain changes to their overdraft rates
https://uk.reuters.com/article/uk-britain-banks-regulator/uk-financial-watchdog-questions-banks-on-overdraft-pricing-idUKKBN1ZR0NJ
Bit of a gamble with interest rates on Thursday, if they do drop them banks will struggle to pass on the savings so what stimulus would that provide to the economy.
Probably best to support the pound although would look political.
My guess is they will hold?????
It will take some explaining with base rates at 0.75%. I am all for banks making a profit but 40% is unjustifiably high and little short of racketeering .
might as well have kept those parasites Wonga going. 40% is just theft plain and simple.
DTN
Wrong
There is always the choice - bit like kids today - cant hold back never thought of the cover available.
Why should banks make available cash to those that do not have it? In truth - why should any financial institutional exist if it can make no money?
Reality check!
Think a fairer banking system is what is needed where we all pay a small fee for our current accounts allowing more realistic charges for the more vulnerable
OI
''allowing more realistic charges for the more vulnerable''
I think you meant to make it a bit easier for the feckless to be feckless, by penalising those that are not.
Lti true but personally I would not object to pay for the service of my current account enabling banks to make a profit without over the top interest charges
Oi
What about a voluntary contribution?.
I hope though that you are with Lloyds or HSBC if you want to give them a few quid a month.
Oi
I wish the margin on mortgages was a tiny bit more over the top.
OI
then we should pay a charge to withdraw cash - as all do elsewhere in EU- OZ- ME
Why do we have to service ppls wishes re banks at no cost?????
Some have made the case that many who use an overdraft will be better off without the fee charges.
Just an example
when in South of spain in the autumn - I went to a Santander ATM to withdraw 100 euros - they wanted to charge me 5 euros.
i went to another bank - Sp - charge was 2 euros.
that charge was with friendly EU package with nationwide.
We cannot expect everything for nothing - some think so - reality check!
HSBC have an overdraft, interest free buffer of £25
Yes
LTI
kids have mobile alerts
what is the fuss about?
Just the crap media again!
All seems very strange to me, Just did some online enquiries at my bank and it seems I would be far better off, if I needed to, to have a personal loan:- They offered me 6.5% for example on £20k to buy a car. Even the worse credit cards only charge 20% too so why would one even think of using an overdraft?
Pay too much into a credit card and you can get your cash for free-that's what I use to do.
Snige
I can get my cash using a debit card for free. It works for me.
JL, people should live within their means and not put themselves into the position, its daft. But when a bank is quite happy to lend you a pile of cash as a loan at 6.5% or whatever, then charging 40% for a generally small dip into an overdraft is quite clearly nothing but legalised theft. However, people being people are generally feckless with money these days and mop up credit for all sorts of things - more fool them.
A greater number of people would live within their means if banks didn't rob every one of purchasing power - day in, day out.
This is a simple one, no overdraft facilities allowed.Loan withs scheduled repayments only.
OD`s are an outdated and rubbish way to finance anything.
Finito.
Every organisation robs people of their money each day. Overpriced mobiles, broadband, Sky tv, amazon prime, football tickets, electric/gas, council tax, petrol prices, hp cars, dominos etc etc the list is endless. It is upto the individual concerned to spend what they have sensibly in life. It a shame people know more about their favourite phone/celebrity/footy team than basic finance, which should be compulsory in school if the debt cycle is ever to end.
Just a question of managing awareness.
Don't complain after ANY event.
Think b4 u dip in?