Spike in number of bank staff stealing from customers

Learning?

Staff learning form their bosses?

Posted by: Grosvenor

So this is news?

Banks have been sealing from us for years. Some even charge for us allowing them to use our money – and we mugs stand for it! They lend out our money at least at 1% (Euribor) – if not more, and if they pay us any interest at all it’s about 0.1% - and that’s not robbery?

Posted by: Harry Katz

Supported thievery

No only do they steal from the existing customers the are also going to get a whole wedge of post RDR new victims stolen with full support and help from the FSA. These will be the less well heeled and more elderly "non profitable" cleitns who nevertheless need financial advice and cannot get on-line to the MAS and pick their way through their information "free of charge". They will end up at the bank!!! make your own conculsions.

Posted by: dwinsal

What are the banks doing?

Dishonesty in any industry occurs. 220 instances in a sector that employs thousands does not look like a high percentage, at least not high enough to generate indignation. What does cause a little concern is the definition used before an incident goes on the register. This raises the question of whether the figures are being massaged by managing to avoid all the administrative definitions. A further cause for concern is that there is a discernible trend, but no statement that strategies are being introduced to address the trend.

Posted by: Glen McKeown

FAO Harry Katz

Harry Taking your money and paying you 0.1% whilst lending it out at 1% + is not robbery, it merely refelcts the banks margin/profitability. Having said that, this practice is no different to the charges applied to investment funds (they too relate to the fund group's margin/profitability). So, on that basis, surely bank accounts should come with client specific illustrations showing the 'effect of charges' based on the margin that the bank keeps. If we want a level playing field that would be a good start! (And give, Which?, Miliband and all the other 'cost is everything' lot something to think about!)

Posted by: You must be joking

Bank Staff Fraud

The more galling is that when interest base rates were circa 4.5% the lenders charged .75% to circa 3% over base. NOW: Whilst the Bank of England maintains a .5% base, lenders are making 3.5% to circa 5.5% over base. Profits will be huge (After the occasional £6m bonus) whilst it appears that ALL borrowers are well and truly 'ripped off'. Then there is the matter of credit card interest rate that have hardly moved in either direction although at least one can be astute and keep changing to 'free interest' terms...Which is being paid for by the majority of unfortunate people with credit card debt that cannot be moved!! But who cares? No one!!!

Posted by: Graeme C. Halloway