Interst Rate Increases! - Fight Back!

ab20

So the Permanent TSB are planning to up their Variable Mortgage rates by 0.5% in the next few days. This will put up to €60 per month on a mortgage of €250,000. Is this justified. After all the consumer has put up €54 billion to bail out these banks. And all the other banks are waiting to see if the PTSB get away with the increase and they will up their rates by up to 1%, so don't think that just because your mortgage is with PTSB that it will not affect you. I think it is time that the Irish Home Owners, Irish Savers started to dictate to the banks how things should be. Firstly we should make it known that this increase will not be tolerated. There are a number of ways of doing this.

1. Take to the streets in Protest! (Not just once but until it is agreed that there will be no interest rate increase)
2. Withdraw any savings in the particular banks that increase rates!
3. Close down all standing orders/direct debits with your banks and insist on a lodgment slip from anybody who requires a direct debit. (After all if your direct debit is not paid the bank happily take up to €10.00 from your account for the inconvenience of there being no money there). Great money if you can get it.
4. Remember that a bank is only a LIMITED COMPANY so your money is probably just as safe in a hole in the floor than in the bank at present.
5. Demand that you should not have to queue any more.

It is time that we rose to the challenge of these greedy bankers and brought them back to reality. And as you may be well aware they will pull the house from under you if you cannot pay the last €1000 they will not give you any help they just want their money back! And furthermore every business needs customers. And at the end of the day YOU are the banks customer. So why should they not treat you with some respect instead of contempt!

RISE UP AND FIGHT THE INCREASES!

Paulw

ab20 wrote: »

1. Take to the streets in Protest! (Not just once but until it is agreed that there will be no interest rate increase)
2. Withdraw any savings in the particular banks that increase rates!
3. Close down all standing orders/direct debits with your banks and insist on a lodgment slip from anybody who requires a direct debit. (After all if your direct debit is not paid the bank happily take up to €10.00 from your account for the inconvenience of there being no money there). Great money if you can get it.
4. Remember that a bank is only a LIMITED COMPANY so your money is probably just as safe in a hole in the floor than in the bank at present.
5. Demand that you should not have to queue any more.

Yawn.

1 - It'll have no effect. Interest rate increases are needed by banks, to fund business.
2 - Move your money to where? What about your mortgage?
3 - And then you'll end up being charged more by companies such as UPC, etc. Don't forget that DD make it so much easier.
4 - Not easy to pay bills, etc, from a hole in the floor, especially if you work normal office hours.
5 - Ever heard of online banking? No queues there.

Oh, and FYI, I'm with PTSB, and have a large mortgage.

Stark

Why did you feel a need to repost this thread here after you already posted it in a different forum in the same subcategory? http://www.boards.ie/vbulletin/showthread.php?t=2055812044