Teach Bankers A Lesson

practice

Most banks and building societies have raised mortgage rates and will do so again before the year is out. I would like to try and orgainise a "Bring Down A Bank Day". For this to work we would need all the people who have savings in a particular bank/building society to withdraw all their savings and put them in any other bank/building society.
The very sight of people outside withdrawing their money might make them think again before raising rates.
So lets pick one and do the deed.

Mountjoy Mugger

Great idea.

I'll take all my money out; my Building Society look to take out my monthly mortgage, no money in account. More interest to the Building Society.

The ESB do the same, no money in account. etc.etc..

Think about it.

veritable

practice wrote: »

Most banks and building societies have raised mortgage rates and will do so again before the year is out. I would like to try and orgainise a "Bring Down A Bank Day". For this to work we would need all the people who have savings in a particular bank/building society to withdraw all their savings and put them in any other bank/building society.
The very sight of people outside withdrawing their money might make them think again before raising rates.
So lets pick one and do the deed.

not the sharpest tool in the box are we.

dudara

Moved to Banking & Insurance & Pensions

OP - do you understand the role that banks play in an economy, and the effect that such an action would have on an already over-indebted government?

dudara

mikemac

Mountjoy Mugger wrote: »

The ESB do the same, no money in account. etc.etc..

ESB are responsible for electricity

I'm hoping for interest rate increases for savers.
Rates are far too low at the moment, bring on these rates hikes

Xcellor

practice wrote: »

Most banks and building societies have raised mortgage rates and will do so again before the year is out. I would like to try and orgainise a "Bring Down A Bank Day". For this to work we would need all the people who have savings in a particular bank/building society to withdraw all their savings and put them in any other bank/building society.
The very sight of people outside withdrawing their money might make them think again before raising rates.
So lets pick one and do the deed.

:eek:

Mountjoy Mugger

feelingstressed wrote: »

ESB are responsible for electricity

I'm hoping for interest rate increases for savers.
Rates are far too low at the moment, bring on these rates hikes

I'm referring to the fact that if no money is there to honour your direct debit, the ESB won't take to kindly to it. :rolleyes:

Gone West

If the bank folds, the easiest thing they can sell is the loan book. It would be sold to santander or somebody within 10 days.
Your debts will still be there.

dotsman

practice wrote: »

Most banks and building societies have raised mortgage rates and will do so again before the year is out. I would like to try and orgainise a "Bring Down A Bank Day". For this to work we would need all the people who have savings in a particular bank/building society to withdraw all their savings and put them in any other bank/building society.
The very sight of people outside withdrawing their money might make them think again before raising rates.
So lets pick one and do the deed.

Great idea...


























...If you want to:

• destroy your credit history
• have your mortgage interest rate increased
• possibly further fcuk up the economy
• gain absolutely nothing from this little tantrum

stepbar

The scary thing is that there's plenty of irrational thinking individuals like the OP around. Scary thought indeed.....

chris85

Thats shocking. lets try destabilise an economy further.

GerardKeating

practice wrote: »

Most banks and building societies have raised mortgage rates and will do so again before the year is out. I would like to try and orgainise a "Bring Down A Bank Day". For this to work we would need all the people who have savings in a particular bank/building society to withdraw all their savings and put them in any other bank/building society.
The very sight of people outside withdrawing their money might make them think again before raising rates.
So lets pick one and do the deed.

But since all the bank deposits are guaranteed by the state, the only effect of such a day would be give the government a big bill and screw the taxpayers even more, the bankers would not care/notice

Toots

Fantastic idea, OP. :rolleyes: