BEWARE! THE BANKS ARE OUT TO GET YOU!

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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

Post by Tizer »

This is a bank which is 55% owned by us, the taxpayers, and received a £45,000,000,000 bailout during the 2008 financial crisis...
`NatWest faces fine over money laundering failings' LINK

Note that the article says Natwest `is the first British lender to admit such an offence'. I wonder how many more such offences will soon come to light?
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

Post by Stanley »

We seem to have a lot of things 'coming to light' at the moment Peter!
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

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Today's the day the contactless card limit is raised to £100, some banks are allowing customers to set their own lower limit but not all. Lost bank cards are a very regular feature on Facebook, be interesting to see if people take more care of them as they can be used up to 5 times (with a total of £300) before a PIN is required.
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

Post by Stanley »

I always try to be careful. How much is the new higher limit an incentive for scammers to increase the efficiency of remote scanning? Do we need lead foil lined wallets?
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There is always the potential for a scammer to 'scan' your card when in close proximity, plenty of RFID blocking wallets available to stop this. A quick search for RFID on Amazon returned lots of them, I may invest in one because there's no doubt the new limit will be far too tempting for criminals to invest in the technology to 'scan' cards.
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

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Let me know if you find a good link Kev. I agree with you about the temptation to invest in remote scanning equipment. Looks like a no-brainer to me!
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

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See THIS Guardian article about the hike in interest rates that is expected. Some mortgage providers are raising rates now. This is part of what the Mail was describing as a perfect storm stemming from Sunak's budget.
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

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Stanley wrote: 17 Oct 2021, 02:57 Let me know if you find a good link Kev. I agree with you about the temptation to invest in remote scanning equipment. Looks like a no-brainer to me!
Bought one of these TEEHON® Wallets Mens RFID Blocking Carbon Fibre Leather Mens Wallets with 11 Credit Card Holders, 2 ID Windows, Zip Coin Pocket, 2 Banknote Compartments, Trifold Vertical Wallet for Men, Black Orange https://www.amazon.co.uk/dp/B086MYTDHS/ ... CTTVEW184V
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

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Thanks for remembering Kev, I've bought one.
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

Post by Stanley »

Rishi Sunak says the economy is booming. PM Johnson says he is building a high wage high skill economy.
The Governor of the BofE signals that we are in for 2 to 3 years of 'biting inflation'.
So who's right?
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

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Stanley wrote: 03 Nov 2021, 03:35 Thanks for remembering Kev, I've bought one.
Some of the banks and building societies allow you to set a lower limit and some let you opt out of contactless altogether. I suspect they'll all start offering the lower limits because surveys including, would you believe it, the Bankers Association have found that most people are against the raising of the limit.
-------------------------------------

Remember, Greensill, Sanjeev Gupta and Liberty Steel?...
`Liberty Steel: MPs call for investigation into 'red flags'' LINK
`MPs have called for investigations into the owners of Liberty Steel and boss Sanjeev Gupta in a bid to avert another crisis in the industry. Auditors that signed off the accounts at Liberty's parent GFG Alliance should also face questions, MPs on the business committee say in a report. The committee highlights "red flags" and "systemic risks" that should have alerted authorities to the problems. The steel industry is too important to lurch from "crisis to crisis", say MPs.'..
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

Post by Stanley »

It's quite obvious that what remains of the British steel industry should be taken into public control. I'm not bothered how they do it but it should not be left dangling in the wind subject to the vagaries of the market. It is one of the commanding heights of the economy. The funny thing is that a large proportion of Tory backbenchers would probably agree with this.
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

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I have a savings account, originally started with Yorkshire Bank. I have a debit card to go with it and with our nearest branch being nearly 10 miles away it is handy for use with and ATM if I want some cash. I have reported before that the account and the bank which have now all morphed into stores are now managed by Virgin and are known as Virgin Money Stores. A few weeks ago they issued me with a new bright red debit card in the Virgin livery.

I had occasion the other day to want a small amount cash from the ATM so I shoved it in the ATM at Barclay's and put my pin in. It told me it was wrong so I re entered it carefully to make sure I had it right. Same problem, incorrect pin. I asked for the card back to have a think about it while I did my shopping. On the way back home I thought I could remember being issued a new pin to go with the card, it came by separate letter. I shoved the card back in and tried the new pin, wrong ! Incorrect pin, your card is now disabled, you will need to contact your bank. :furious3:

When I got back home I checked that last pin I used was the one issued for the card and it was!

I have internet banking on my phone and there is a manage card option in there but it does not include changing or requesting a new pin!

24/7 telephone access to help from Virgin so they say so I went online to get a number to ring. Apparently this does not apply to savings accounts previously held by the Yorkshire Bank. :dontgetit:

I have searched the site for FAQ regarding changing pins on cards and there is nowt! No mention of what must be a fairly common request.

I must resist ringing Virgin tomorrow, I have fallen into that trap before. Yo spend 15 min's on the ting tong and then they tell you to ring another number because it's a Yorkshire Bank account even though it is branded Virgin. Bloody Branson! Grrrr... :laser:
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

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Earlier on this thread I said that the contactless limit could be lowered on debit cards. Not so with Natwest, it's £100 and that's it. Take it or leave it.
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

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Looks like we're as usual - as Mr Dylan said "only a a pawn in their game. " Seems that Yorkshire bank was already subsumed into CYBG Plc - which I imagine stands for Clydesdale Yorkshire Bank Group . That company then took over Virgin Money, with an all share buyout. They then decided to trade as Virgin, and have dropped the Yorkshire tag. They could have kept it.

Ironic really since other companies push the Yorkshire connection strongly. I'm thinking of Plusnet and Yorkshire Tea here.

Irony upon irony - The current race banter problem at Headingly has a long way to run yet, as there's the possibility of a lot of compensation money becoming available. The fall out from that may mean that majoring on a Yorkshire connection may not be as attractive as it once was. That will cost Plusnet a lot if they change their image and all their advertising. Perhaps the Bank is unintentionally ahead of the game.

Thankfully if we think such things are important,we can close our account, and start another at somewhere more congenial. That's what I've done. :smile:
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

Post by PanBiker »

The really daft thing about this debit card malarkey is that I can still use the credentials from my old YB card to make purchases. I have cut the card up as suggested when I got my new one. Just realised that the card number and CVV required for online purchases is still valid as I paid for something with those details that were already registered last week. My new card has a different number, expiry date, CVV and pin of course and at the moment is as much use as a chocolate teapot. :sad:
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

Post by Stanley »

Sorry to hear about the problems with the card Ian. As I have commented before, so many problems arise when data banks are shifted from one system to another. I hope you get sorted.
David, the thing that really gets me going is this use of the word 'banter'. It crops up so often in discrimination cases in public bodies as well, police, forces etc. I put it in the same class as 'It was only a joke' when someone suffers from another's stupid actions. As far as I am concerned all these things come under the heading of thoughtless ignorance and lack of respect for others.
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

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The FT this morning reports the Vatican embroiled in another money scam. It bought part of a London property for £300M using donation funds and has now sold it for £200M, thereby wasting £100M of donations from ordinary folk. It's a complicated story but involves the Vatican having done deals with a scoundrel who had bought the property for about £100M and sold it to the Vatican. All very dodgy. The Pope has been trying to `drain the swamp' but seems to have failed.
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

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The imperfections of the Catholic Church (And the CofE as well!) are many and varied. The only reason they survive is because of old fashioned views that anything connected to religion must by definition be good and above criticism or suspicion. It's quite obvious that this is not the case and one wonders when the world will wake up.
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

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Stanley wrote: 08 Nov 2021, 03:59 Sorry to hear about the problems with the card Ian. As I have commented before, so many problems arise when data banks are shifted from one system to another. I hope you get sorted.
I went on chat to Virgin and they have reactivated and are sending me a new PIN.
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:good:
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

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See THIS BBC report on inflation rates. What is now clear is that once more, wage rises are falling behind inflation and benefits are being cut by price rises. The myth of the 'booming UK economy' is falling apart. All this before the present trends due to circumstances fully hit home. Brexit has not yet had its full effect.
I'm sorry I am so pessimistic but I can't see any light on the horizon.
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

Post by plaques »

Why is Amazon ditching Visa Credit card. The upfront answer appears to be because of the increase to interest rates. Is this rise co-incidental to the fact that the EU put a cap on such interest rates but now we are out of the EU its now a market free for all to see what the suckers will stand.
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

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I think it's the commission rates charged by Visa to Amazon rather than interest rates? It is true that these were once limited by the EU and no longer are, since we left. Increasing the rate of commission on payments doesn't seem to have been such a smart move for Visa, since instead of the present lower take, they will now get nothing at all. No harm done to the consumer - as they can use a Visa debit card or a Mastercard credit card. The wise consumer will already have one of each. I doubt Visa will want to lose the business, so perhaps they will negotiate a different rate.
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Re: BEWARE! THE BANKS ARE OUT TO GET YOU!

Post by Stanley »

David, I heard some discussion about this and the smart money seems to be on your suggestion that this is a negotiating ploy in a battle over commission with Amazon and that Visa will most likely settle for a lower rate rather than lose the business. Amazon have such power in the market.
I always remember what my late daughter Janet told me many years ago, that four companies had set out to control the world..... Amazon was one of them.
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