Uk Banks - Worst In The Developed World

[12DrinkMore]

Rant mode ON

I am now utterly fed up with the UK banks. These guys claim to be essential to the economy, cannot be allowed to fail, yet they continue to provide the worst service I have ever met.

I have also had "relationships", as they like to call them, with Swiss, German, Thai, Australian and Singaporean banks and every one has been far more efficient with lower cost transfers and a friendly service.

The UK banks are utterly arrogant, totally anal over account opening procedures and completely anal over account "re-verification" procedures to the point of refusing me access to my money, which has remained untouched for years. They screw their customers by changing the parameters of the accounts; one crafty little trick is to start a new account "deposit plus xxx" with a higher rate of interest and then dramatically reduce the interest on existing deposits without informing their customers. Then the UK still has the dam_n THREE DAY transaction time. An incredible throwback to the days of writing checks on stones and transporting them with a horse drawn carriage to the next town. Another nasty little trick is to announce a new account with a higher rate of interest, but ONLY FOR NEW FUNDS!

Through any Thai bank ATM I can transfer instantaneously to any bank account in Thailand with a minimum charge. An EXCELLENT and OUTSTANDING service, that the UK banks have not even considered, relegating the UK banks to lower than third world standard.

Why do the UK population put up with this crap? Why am I putting up with this crap.

Sure there is the occasional problem with other banks. But they are cooperative and quick to fix it. The UK banks just add delays and charges.

But now slowly but surely I am removing all my money from the UK banks and putting it into banks that provide me with a decent service and interest rate, with no sneaky tricks and stupid products designed to screw me.

Rant mode OFF

[Benjie]

I'm in Phuket, if someone writes us a cheque from a Bank and their branch is in Bangkok it takes 10 days to clear. Cheques are antiqauted but its the same all over the world.

[nakachalet]

in hatyai,

it only takes 3 days to clear a check from anywhere within the territory of thailand. if and when it is deposited before 11 am of any banking day....

[Benjie]

I'm not in Hatyai.

[wolf5370]

I believe the 3 day clearing is law - the clearing banks MUST take 3 days to clear the cheque. Some banks have a one day clearance, but rerquyires special permission and a waver (again this is as I believe). I once worked for a high street clearing bank in the UK for about 8 years, but that was many moons ago. There are many statutes on the books that stop UK banks being able to provide similar service to some foreign ones - believe it or not, it is aimed at protecting their customers from fraud and the bank from rubber cheques too I guess.

UK high street banks have had free banking (personal) for many. many years now. Most banks have online banking where you can transfer money between accounts and even pay into other accounts (in other banks) free - what they don't have isATM or Branch based transfers that are free. This is becuase they do not handle these transactions companies like BACS and CHAPS do, and they charge. Hence internet banking is free - I believe there are contractual and (again) legal reasons why BACS/CHAPS etc are independant.

One thing I really do think that UK banks should have is the paying in ATMs where you just type in the account number and put the cash in. They often have envelope based ones (where the staff empty it at closing time and manually run it all through), but not automatic cash-counting ones.

Same UK banbks do not even clear cash on the same day - now that annoys me as there is no reason to have to clear cash - its should hit your account as soon as it goes through the cashiers computer. I gather this is a lot to do with old mainframe based over night processing systems in a lot of the banks - especially the clearing banks. However, I know this is also a croc as even in the days when I worked for one - on their computer systems - they had the ability to directly update accounts (staged balances that are latter applied to the master database). Most babnks now clear cash on the same day I think because of mounting pressure from customers, but they could have done it 20 years ago - but think of all mthat interest they save on not crediting every cash input for a whole day (or more sometimes in the dark past).

All babnks make serious amounts of money - even when they are going bust apparantly - they make it from both savers and borrowers - best business to be in (as long as you're sensible and not greedy - so that's all the UK banks out then!)

What really P!ssed me off with them was after being bowed out by the tax payer for amasing great debts (through greed), they still kicked people out of their homes for not paying their mortgages - often people that lost their jobs thanks to the credit crunch they caused. Now if you want a reason to burn down British banks, there it is! With more massive bonuses being paid out as we speak. Gordon Brown's handling of the Banks was abyssmal and for that alone he should be hung drawn and quatered and have his head stakes out at Traitor's Gate!

[hansnl]

Bank, everywhere in the world, are more or less legalised criminal organisations.

Indeed, the greed and deeds of banks are the reason for the financial crisis we have at the moment.

Criminal?

Some examples.

By European law transfers from an account in one country to an account in another country should cost as much in both countries as a transfer between accounts within the country of transfer and the country of receipt.

The UK banks still charge GBP 7 for a transfer from EU-countries.

By European directive the difference between the intrest on savings and the intrest on loans should be a maximum of 4 %.

In the Netherlands the banks pay you, if your lucky, 1%, per year on savings

A lot of banks charge you, for loans, an intrest of 1% too, but then per month.

The difference is much more as is allowed, and as the EC poured a lot of funds (tax money) into the central banks of the member states for making loans cheaper to battle the crisis, the refusal of the banks to lower the intrest of loans is criminal and certainly not helping solve the crisis.

The bonus culture in the banks is the main reason for the financial crisis.

In a lot of countries tax money was poured into the banks to "help" the banks to survive.

The bonus culture keeps on going, in the UK the amounts have grown to unknown levels.

Mind you, the taxpayer paid for that.

I can go on for hours.

[PhilHarries]

Simple answer to your problem. Close all your UK bank accounts and transfer all your money to a Thai bank.

That's the financial version of "if you don't like it <deleted> off".

[Trickcyclist]

how dare you complain about our great banks.

Ok, they do charge exorbitant rates,

pay little or no interest,

rip you off on exchange rates,

repossess your home,

miss sell personal protection insurance etc etc,

teeter on the edge of collapse but for government support paid by the tax payers and

pay huge bonuses to the drones that run own and run them, who have lost billions using unfathomable mickey mouse financial instruments that have brought the whole financial and economic system to the brink of collapse (and its not over yet!!)

They deny you acccess to your own money, in the middle of the night, in the middle of nowhere, in a monsoon, for no good reason and

you have to call a call centre in Mars and speak to some morons who have a potato in their mouths and

provide information about your inside leg measurement, the housing shortage in East Tanganika and a million other things to reactivate your own account and get at your money

otherwise, they are fabulous!!

[12DrinkMore]

By European directive the difference between the intrest on savings and the intrest on loans should be a maximum of 4 %.

In the Netherlands the banks pay you, if your lucky, 1%, per year on savings

A lot of banks charge you, for loans, an intrest of 1% too, but then per month.

This difference between saving and lending rate is also a massive con that 99% of the population have not realised.

With the marvelous fractional banking system the banks can lend out a vast multiple of the savings that they have on deposit. The whole thing is a little complicated but to simplify it, if you deposit with them EUR 100,000 at say 1%, they can then lend out at least EUR 1,000,000 (some even more up to maybe EUR 3,000,000) based on YOUR deposit. As they charge at least 5%, they will be making EUR 50,000 interest whilst paying you a massive EUR 1,000 interest on your EUR 100,000.

The vast majority of the population think that the banks are simply making the difference between the lending and deposit rates. This is simply not true, it is this difference multiplied by the fraction reserve percentage, which can be anywhere between a very conservative 10 and infinity.

And there lies a big part of the mess the banks are in, because if the EUR 1,000,000 loans are backed by assets which have lost just 10% of their value, then the bank is screwed. And if the assets fall by say 30% then they are well and truly screwed, except that, of course, it is the tax payers who have to bend over with their trousers down and take a massive shafting from the banks.

And the three day clearing I mentioned is the three day delays that the UK banks put on electronic transactions, not bits of paper being shuffled around. I hate the dam_n banks, especially the UK lot. At least with the foreign banks I am treated in a reasonable way, the UK banks are utterly arrogant.

Edited December 22, 2009 by 12DrinkMore

[KarenBravo]

And the three day clearing I mentioned is the three day delays that the UK banks put on electronic transactions, not bits of paper being shuffled around.

Strange. When I do an electronic transfer from my account with Barclays Bank in the UK to Bangkok Bank in Phuket via the internet, it takes two days (actually only a day and a half).

[cmsally]

By European directive the difference between the intrest on savings and the intrest on loans should be a maximum of 4 %.

In the Netherlands the banks pay you, if your lucky, 1%, per year on savings

A lot of banks charge you, for loans, an intrest of 1% too, but then per month.

This difference between saving and lending rate is also a massive con that 99% of the population have not realised.

With the marvelous fractional banking system the banks can lend out a vast multiple of the savings that they have on deposit. The whole thing is a little complicated but to simplify it, if you deposit with them EUR 100,000 at say 1%, they can then lend out at least EUR 1,000,000 (some even more up to maybe EUR 3,000,000) based on YOUR deposit. As they charge at least 5%, they will be making EUR 50,000 interest whilst paying you a massive EUR 1,000 interest on your EUR 100,000.

The vast majority of the population think that the banks are simply making the difference between the lending and deposit rates. This is simply not true, it is this difference multiplied by the fraction reserve percentage, which can be anywhere between a very conservative 10 and infinity.

And there lies a big part of the mess the banks are in, because if the EUR 1,000,000 loans are backed by assets which have lost just 10% of their value, then the bank is screwed. And if the assets fall by say 30% then they are well and truly screwed, except that, of course, it is the tax payers who have to bend over with their trousers down and take a massive shafting from the banks.

And the three day clearing I mentioned is the three day delays that the UK banks put on electronic transactions, not bits of paper being shuffled around. I hate the dam_n banks, especially the UK lot. At least with the foreign banks I am treated in a reasonable way, the UK banks are utterly arrogant.

I think you will find the 3 day clearing has been abolished for electronic transactions (sometime in the last year or two can't remember exactly). When I do a UK inter bank transfer it now says it will go into the account within next few hours whereas before it was 3 working days.

[Abrak]

There is a system in Thailand called 'bahtnet' that allows you to transfer funds between your bank a/c and another persons within a couple of hours. So long as a bahtnet transfer is received before 12 it will be in the other persons bank account by 2.30pm. There is a cost - Bt1000 - a transaction and the transaction is limited to Bt10m.

[chiang mai]

And the three day clearing I mentioned is the three day delays that the UK banks put on electronic transactions, not bits of paper being shuffled around.

Strange. When I do an electronic transfer from my account with Barclays Bank in the UK to Bangkok Bank in Phuket via the internet, it takes two days (actually only a day and a half).

The three day clearing rule for onshore electronic funds transfers was introduced by APACS at the request of the banks to make electronic clearing times the same as - the banks argument at the time was that banks would loose money (loose use of client funds) if same day transfers were introduced and APACS agreed.

Overseas electronic funds transfers are governed by a different set of rules and the three day clearing aspect doesn't apply. True, an EFT from the UK to Thailand is easily done in a day or thereabouts which makes something of a mockery of the onshore clearing times but it is that way at the request of the banks.

[wolf5370]

I used to know a guy that was a big wig in a merchent bank in the city (London). He was always p!ssed off that when there were Bank of England meetings (which the government controlled back then) the big two (at the time) Natwest and Barclays just used to ride roughshot over everything and the BoE used to bend over and take a good one (he used to word it saomething like that! Honestly!). Basically, they dictated the British banking legislation, and that's why there are all these cr@p laws and rules (and convenient exceptions that allow banks to get away with things other businesses and the public can not) that are biased towards the banking industry.

I guess things changed with huge foreign banks buying up smaller UK ones in the 90's and 00's (HSBC etc) and Tony's one good turn of his PM-ship, giving some autonomy to the BoE (at least as far as interest rates go).

Here's a good one I remember from the past (dunno if its still on the books). To cover bad debt, UK banks can put aside large amounts of cash (we are talking billions sterling) as a pretection mechanism. The cash is locked away for 7 years unless it is required to cover such debt. After 7 years the cash can be withdrawn. Simple enough, two things though, this is year on year - so with 1Bn a year, that's 7Bn set a side for the next 1 to 7 years; the money is untaxed. This means that banks can put aside billions of pounds from profits, not pay taxes on it (or profit sharing etc) and after 7 years get it back tax free - a great way of legally avoiding tax on their profits (and paying bad debt from insurance policies instead underwritten at Lloyds or whatever)!

[PhilHarries]

how dare you complain about our great banks.

Ok, they do charge exorbitant rates,

pay little or no interest,

rip you off on exchange rates,

repossess your home,

miss sell personal protection insurance etc etc,

teeter on the edge of collapse but for government support paid by the tax payers and

pay huge bonuses to the drones that run own and run them, who have lost billions using unfathomable mickey mouse financial instruments that have brought the whole financial and economic system to the brink of collapse (and its not over yet!!)

They deny you acccess to your own money, in the middle of the night, in the middle of nowhere, in a monsoon, for no good reason and

you have to call a call centre in Mars and speak to some morons who have a potato in their mouths and

provide information about your inside leg measurement, the housing shortage in East Tanganika and a million other things to reactivate your own account and get at your money

otherwise, they are fabulous!!

Okay apart from the exorbitant rates, no interest, exchange rate rip offs..................................Martian call centers and East Tanganika what is wrong with British banks?

You all seem to be under the impression that banks should provide a service to their customers and look after them. Truth is banks don't give a flying duck about personal banking customers. We are nothing more than irritants, flies in their money making ointment, low lifes that they have to employ bank tellers to deal with because we sometimes want some of our money out of the bank.

But you try living without a bank account.

You also try withdrawing a sizeable lump of YOUR money in cash. I did that a year or so back and the grilling I was put through was only lacking some waterboarding to complete the set. Starts out with "Why do you want the money?" and goes rapidly downhill. Ended up they had to write a letter to me at my registered address, via snailmail of course, and I then had to bring that letter into the branch to prove it was really me asking for the money. Passport, driving license, letters from HMRC all were totally worthless.

Grrrrr, now I am so angry I could throw the mouse down.

[thai3]

Here is my experience with a Thai Bank I want to open an account-Bank says no cannot do with my visa so I say OK I will take my 800k elsewhere-just a minute sir-OK for you we can do. Then I ask for an ATM card and the girl tries to sell me a debit card which I have to repeatedly tell her I do not want so she finally agrees on the ATM card later after the account is opened. After the account is opened she informs me they have no ATM cards left and that I have to go to another branch down the road. At the other branch I explain all this and they go through the motions for the ATM card, photo copy of passport, fill form, pay the fee and wait 20 minutes. Then they tell us we cannot must go to the Bank where we just opened the account for the card <deleted> why not tell us when we came in-blank look as if it's our fault. Having had enough of this crap we decide not to go back to the first branch but get a phone call from the girl who opened the account apologizing and telling me she has now 'found' some ATM cards, lying bitch. Obviously she was pissed off at not getting commission on the debit.credit card thing so could not be arsed to do the ATM card, then got a rocket up her arse from the other branch and was told to ring me.

Sorry but I would take any UK Bank over the clowns here, many other crappy service stories from here to go with this including being told not possible to transfer cash from UK with a debit card, and explaining they put my money into a non interest account because they thought I would not want any interest.!!!!!!!!!

Edited December 23, 2009 by thai3

[12DrinkMore]

Here is my experience with a Thai Bank I want to open an account-Bank says no cannot do with my visa so I say OK I will take my 800k elsewhere-just a minute sir-OK for you we can do. Then I ask for an ATM card and the girl tries to sell me a debit card which I have to repeatedly tell her I do not want so she finally agrees on the ATM card later after the account is opened. After the account is opened she informs me they have no ATM cards left and that I have to go to another branch down the road. At the other branch I explain all this and they go through the motions for the ATM card, photo copy of passport, fill form, pay the fee and wait 20 minutes. Then they tell us we cannot must go to the Bank where we just opened the account for the card <deleted> why not tell us when we came in-blank look as if it's our fault. Having had enough of this crap we decide not to go back to the first branch but get a phone call from the girl who opened the account apologizing and telling me she has now 'found' some ATM cards, lying bitch. Obviously she was pissed off at not getting commission on the debit.credit card thing so could not be arsed to do the ATM card, then got a rocket up her arse from the other branch and was told to ring me.

Sorry but I would take any UK Bank over the clowns here, many other crappy service stories from here to go with this including being told not possible to transfer cash from UK with a debit card, and explaining they put my money into a non interest account because they thought I would not want any interest.!!!!!!!!!

Well, although I have had a few irritations over Thai banks, I have 99.9% of the time found them very helpful, polite and trying to provide a decent service. And the girls at the local SCB are indeed loverly.

So you had a little problem opening account? HAH! You try and open an account with a UK bank whilst living here in Thailand.

[12DrinkMore]

The three day clearing rule for onshore electronic funds transfers was introduced by APACS at the request of the banks to make electronic clearing times the same as - the banks argument at the time was that banks would loose money (loose use of client funds) if same day transfers were introduced and APACS agreed.

Overseas electronic funds transfers are governed by a different set of rules and the three day clearing aspect doesn't apply. True, an EFT from the UK to Thailand is easily done in a day or thereabouts which makes something of a mockery of the onshore clearing times but it is that way at the request of the banks.

Yes, what a great system we have in the UK.

But APACS has proudly introduced a newer, faster system and inside hours (sic) the payment MIGHT be made, PROVIDED the banks involved are kind enough to allow it.

http://www.ukpayments.org.uk/faster_paymen...t_service_work/

Faster Payments is the first new payments service to be introduced in the UK for more than 20 years. It has enabled, for the very first time, phone, internet and standing order payments to move within a few hours - almost at the touch of a button.

13 banks and building societies were founding members of the new service, and other financial institutions are able to join, either as members, or to access the system through agency arrangements with a member - just as they do with other payment systems.

The infrastructure was launched on 27th May 2008. Since this date, the founding member banks have gradually been implementing their own plans to deliver the new service to their customers. By the end of 2008 around two-thirds of phone and internet payments were processed through Faster Payments. A phased rollout was adopted to help ensure that the service was launched smoothly, securely and with total reliability for customers. The new service runs alongside existing payment schemes in the UK such as Bacs and CHAPS.

The development of the Faster Payments Service was a massive and complex project involving significant investment. It has revolutionised the UK’s automated payments infrastructure and will be comparable to the best in the world.

TWO DECADES to introduce, and note NOT THE BEST but merely "WILL BE COMPARABLE" to the best in the world.

Surely all they needed to do was to take out all the artificial delays in the old systems? So hurrah, now the UK is getting a system comparable to Thailand's system, but with a 10,000 Quid maximum transfer restriction.

I am so elated at this progress that I will go and open another beer.

[GuestHouse]

Rant mode ON

I'd like to know when the Rang Mode is ever off - The OP is only happy when he's miserable.

Let's just set one thing straight.

This evening I transferred money via the internet from my UK Lloyds account to my UK HSBC account, the money moved from one account to the other in seconds, logged on to my Lloyds account, transferred the funds. Logged off and then logged on to my HSBC account and shock horror the money I had just transferred was sitting there, not only sitting there but I was then able to pay bills from my HSBC account with the funds I'd just transferred.

So that rant about not being able to transfer funds in seconds......... The usual garbage I'm afraid.

---------

Meanwhile, take a look at the fraud protection you get from a UK bank or a UK Credit card compared with that in Thailand.

And if you are having difficulty with your bank, it might not be the bank that is at fault.

But hey..... Be miserable if it makes you happy.

[PattayaParent]

So you had a little problem opening account? HAH! You try and open an account with a UK bank whilst living here in Thailand.

Not a problem. I've got accounts in 10 banks in UK all opened from Thailand.

But couldn't open a single account in Thailand without a Work Permit.

[GuestHouse]

And you get treated to a race based interest policy when you can!

[12DrinkMore]

Rant mode ON

I'd like to know when the Rang Mode is ever off - The OP is only happy when he's miserable.

Let's just set one thing straight.

This evening I transferred money via the internet from my UK Lloyds account to my UK HSBC account, the money moved from one account to the other in seconds, logged on to my Lloyds account, transferred the funds. Logged off and then logged on to my HSBC account and shock horror the money I had just transferred was sitting there, not only sitting there but I was then able to pay bills from my HSBC account with the funds I'd just transferred.

So that rant about not being able to transfer funds in seconds......... The usual garbage I'm afraid.

---------

Meanwhile, take a look at the fraud protection you get from a UK bank or a UK Credit card compared with that in Thailand.

And if you are having difficulty with your bank, it might not be the bank that is at fault.

But hey..... Be miserable if it makes you happy.

Well, actually I'm not miserable, I guess its when I post I have something to criticise that might give that impression.

But regarding transfer times, as was noted above, international transfers out of the UK work fine and without delay. But now try and transfer between two UK based banks, BACS three days, SWIFT indeterminate but with a huge fee, and the "new, amazing UK banks rapid system" a couple of hours and at a cost, provided both the banks offer the same service.

What a load of crap.

Edited December 23, 2009 by 12DrinkMore

[12DrinkMore]

So you had a little problem opening account? HAH! You try and open an account with a UK bank whilst living here in Thailand.

Not a problem. I've got accounts in 10 banks in UK all opened from Thailand.

But couldn't open a single account in Thailand without a Work Permit.

I have four accounts in Thailand, all opened without a work permit.

I also have a few UK bank accounts, after this financial debacle I don't trust any of them anymore. Each time they want proof of address, proof of wealth, want to know where did it come from, verified passport copy and a statement from another bank.

But the reason for the rant was the piss-poor service offered by UK banks.

[Chaimai]

Rant mode ON

I'd like to know when the Rang Mode is ever off - The OP is only happy when he's miserable.

Let's just set one thing straight.

This evening I transferred money via the internet from my UK Lloyds account to my UK HSBC account, the money moved from one account to the other in seconds, logged on to my Lloyds account, transferred the funds. Logged off and then logged on to my HSBC account and shock horror the money I had just transferred was sitting there, not only sitting there but I was then able to pay bills from my HSBC account with the funds I'd just transferred.

So that rant about not being able to transfer funds in seconds......... The usual garbage I'm afraid.

---------

Meanwhile, take a look at the fraud protection you get from a UK bank or a UK Credit card compared with that in Thailand.

And if you are having difficulty with your bank, it might not be the bank that is at fault.

But hey..... Be miserable if it makes you happy.

Well, actually I'm not miserable, I guess its when I post I have something to criticise that might give that impression.

But regarding transfer times, as was noted above, international transfers out of the UK work fine and without delay. But now try and transfer between two UK based banks, BACS three days, SWIFT indeterminate but with a huge fee, and the "new, amazing UK banks rapid system" a couple of hours and at a cost, provided both the banks offer the same service.

What a load of crap.

WRONG !

Like GuestHouse I also transferred funds in super quick time. In my case it was HSBC to Halifax - the funds were in Halifax by the time I had logged out of HSBC and into Halifax.

SWIFT at £9.50 with Halifax online does not fall into the "huge fee" bracket.

I made a payment this morning (UK time) and I expect the transfer to KBank will have a value date of 24th December. Any delays are USUALLY at the Thai end.

[Chaimai]

So you had a little problem opening account? HAH! You try and open an account with a UK bank whilst living here in Thailand.

Not a problem. I've got accounts in 10 banks in UK all opened from Thailand.

But couldn't open a single account in Thailand without a Work Permit.

I would be interested to know if that was pre-Money Laundering Rules days or you must have a UK address against which you can satisfy address verification requirements.

Who the heck needs 10 bank accounts ??

[GuestHouse]

Well, actually I'm not miserable, I guess its when I post I have something to criticise that might give that impression.

But regarding transfer times, as was noted above, international transfers out of the UK work fine and without delay. But now try and transfer between two UK based banks, BACS three days, SWIFT indeterminate but with a huge fee, and the "new, amazing UK banks rapid system" a couple of hours and at a cost, provided both the banks offer the same service.

What a load of crap.

If you actually read what I said above, I did transfer between UK banks and the transfer was instant - oh and at zero cost.

Another point to look at when comparing UK and Thai banks. What's the guaranteed deposit level (that which the bank/government guarantee in case the bank falls over?).

Methinks your a malcontent - only happy when your miserable. But don't let the fact that you are wrong in what you have said here put you off.

[GuestHouse]

Let's also compare Thai and UK banks on this little point.

If you lose your credit/bank cards - what is the procedure for reporting the loss, and for gaining protection against fraudulent use? At what moment do you the card carrier become indemnified by the bank and what is your maximum liability?

[PattayaParent]

So you had a little problem opening account? HAH! You try and open an account with a UK bank whilst living here in Thailand.

Not a problem. I've got accounts in 10 banks in UK all opened from Thailand.

But couldn't open a single account in Thailand without a Work Permit.

I would be interested to know if that was pre-Money Laundering Rules days or you must have a UK address against which you can satisfy address verification requirements.

Who the heck needs 10 bank accounts ??

Who said anything about 10 accounts? I said accounts in 10 banks.

Well the 50,000 Quid liability per customer for one thing. Then there's $$, Quids and Euro accounts.

It's easy to satisfy the address verification requirements, they just want a bank statement. credit card statement or utility bill statement of the address you give them and a certified copy of your passport.

[12DrinkMore]

Well, actually I'm not miserable, I guess its when I post I have something to criticise that might give that impression.

But regarding transfer times, as was noted above, international transfers out of the UK work fine and without delay. But now try and transfer between two UK based banks, BACS three days, SWIFT indeterminate but with a huge fee, and the "new, amazing UK banks rapid system" a couple of hours and at a cost, provided both the banks offer the same service.

What a load of crap.

If you actually read what I said above, I did transfer between UK banks and the transfer was instant - oh and at zero cost.

Another point to look at when comparing UK and Thai banks. What's the guaranteed deposit level (that which the bank/government guarantee in case the bank falls over?).

Methinks your a malcontent - only happy when your miserable. But don't let the fact that you are wrong in what you have said here put you off.

So which system did you use to transfer between UK banks instantaneously and at zero cost? My options are SWIFT at some cost 25 Quid being the lowest rate I am offered, BACS over three days at zero cost, and if both banks can handle the new improved "faster transfer" at maybe some charge?

I am not sure where the Thai deposit guarantee level is, I believe it was 100% but is to be reduced substantially in stages over the next few years. The UK was 30k but I believe is now 50k, with some mutterings about charging customers for deposit insurance, although that possible scam seems to have died down.

But OK, if you can execute free of charge instant transfers between UK banks then fine. Unfortunately most of my offshore banks are not offering the same facility. And really, up until this mess caused by the dam_n banks resulted in ZIRP (so no interest) and QE, which have together wrecked the GBP, I was very happy. But now I realise what a bunch of bastards the UK banks and politicians are. Selfish in the extreme.

All I ask is that the interest on my hard earned savings keep pace with inflation and that the value of the currency is not destroyed due to political and banking fraud. So I am a little fed up with that aspect of my existence. But otherwise, well, here in hot and sunny weather, with hot and sunny chicks running around compared to freezing cold weather and miserable freezing cold bitches in the UK; no comparison really.

And a merry Christmas to all, except the UK bankers and politicians; may they freeze in the hellish winter.

Edited December 24, 2009 by 12DrinkMore

[12DrinkMore]

Let's also compare Thai and UK banks on this little point.

If you lose your credit/bank cards - what is the procedure for reporting the loss, and for gaining protection against fraudulent use? At what moment do you the card carrier become indemnified by the bank and what is your maximum liability?

I don't carry credit cards. I have no use for them except for one which remains for emergency purposes only. To be honest, I do not understand why they have been taken on to such an extent. Why allow the dam_n banks/credit card issuers to cream in 3% or so on every transaction and then charge interest on the outstanding balance at a ridiculous rate? People should return to cash, businesses prefer it, it costs less, prices might drop, and the financially challenged will not run into problems.

Credit cards are an evil, giving massive profits to the banks and putting more and more people into never ending debt.