Every ‘WHICH’ Way…

From No More Excuses

The Debate or Fury… Continues!

In one way or another Which magazine has come out fighting, determined to expose the myth of ‘Free’ banking…and well done to them.

However, the use of the word FREE somehow sparks uproar within the Banking sector, such as they have this inbuilt belief that ‘our’ money is ‘their’ right to use as they see fit, quite risible!

Automatically they make the mistakes in house, in public, in the UK and Worldwide and their charges go up to compensate their loss, that is of course once Salaries etc are dished out before dividends. Now they want more… And this is where it stops.

First… A Fact of Banking!

Open an Account, anywhere, and make a deposit…that Bank has the use of – and subsequent profit from –  your money. END OF!!

So suggesting that you pay a flat fee in order that you just leave funds with them just to take some out, now and again, with nothing in return, is a fools paradise! YOU’RE THE FOOL… In their paradise!

But by saying that… we don’t have to be fools. It’s exactly this…many of our society today need banking services. And that’s why I and others bang on about this particular point. We’ve shot ourselves in the foot for far too long, it has become political and now stigmatised.

If you haven’t read the No More Excuses blog on this, here’s your chance [link]. Too many people are excluded and left behind, thanks in no small part to successive Governments, and the selling off of Post Office banking services and the folding of the former Girobank.

A Simple Basic Bank Account

It’s not rocket science but the from the day you are born, the day you leave school/college/university, the day you get a job, the day you retire…moreover, the days you’re unemployed, suffer illness, become long-term incapacitated, need caring for, have local services [branches closed] withdrawn, find travelling difficult, the day you receive State Benefits – whatever they call it – YOU WILL NEED ONE.

And if you are to even compete, you’ll need a computer just to get the best deals or stuff delivered, yes you will need one too. So that means a Debit/Cash Card and Direct Debt facilities.

Therefore, as this is so simple and the least any reasonable banking institution should do – REMEMBER they have your money, they make a return, they don’t pay you, YOU’VE PAID them. Why then have banks made it so hard to get YOUR MONEY.

Remember, Banks have already restricted Card usage to thousands of rural customers, just by ‘flicking a switch’ until there was a mass complaint. Then, in Scotland they held Credit Unions to hostage by wanting to charge their customers a fee for a free and advertised service because the CU used their banking facilities.


I’m not even going to exaggerate the fantastic national failings so well publicised, of rip-offs, deals, fraud, PPI, Libor.. do I have to!

Then of course there are the changes to Banking system which will happen… Not all good, though some not all bad. Take ring-fencing..that’s overdue by decades.

Fundamentally, retail banking does more than pay for itself even if no one bought any of their products..the returns they can make on the use of OUR money is staggering.

Thus, when it is needed to actually use an overdraft, to have a loan, insurance, mortgage… We know we will pay..!!

And no I haven’t forgotten about the BILLIONS upon BILLIONS pumped into system by the BoE via the Government to kick-start the economy, TAXPAYERS MONEY.

So well done Which… Lovely to see the clout being put to good use, and it was good saying all the above previously on Which Conversation via No More Excuses.

But guys, we need a Basic Bank Account as a right. It has to be free to use for the vulnerable, those who care for them, those who need a catch-all requirement…JUST TO LIVE.

It was once like this…

We should revisit the first principles of banking.

Not finally, as I must mention the support No More Excuses has received since its inception, particularly from zero-credit.co.uk best known as @Zerocredit_UK on Twitter, together with the many CAB offices, independent Advice Centres across the UK, the many IFA’s, and individuals. And of course the ‘Which’ family

Expect this to run and run…!!


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