Best Posts in Thread: Let's hope this does not become the norm throughout

Yup. The thing is for small account holders its overall a loss for banks to keep those accounts unless the person is a heavy credit user. Most have less then $5k in their bank account average living month to month. Most of those have end of month balances that are under $2k. This mean's very little money for the banks as far as they are concerned for investing to boost their profit margins. Then considering the costs associated with those small accounts of online banking, debit use of atm cards, paper checks, and numerous other parts their is little money to be had unless they can get away with some strong underhanded extra fee's.

Credit Unions however operate a bit differently on a smaller scale making a better profit margin then big banks on small customers and due to that and big banks in recent years happily closing and turning away small accounts credit unions have been growing steadily. Big banks have been being hit back hard on their attempts to figure out how to turn a profit on small customers such as bigger atm, debit card, and account fee's.

 

Barclay's International took a very big Hit in Spain over Spain's economy with regard to the Overbuild issue.
I can see them having a major Problem with the UK Government. They are the preferred Bank for International Pension Payments and this move may well prove a "Shooting in their own Foot" They tried it in Spain and Gibraltar and it Back Fired. Now they think that by saying they will do it in Malta and Cypress, it will be OK.
There are many expats on Both These islands and if it upsets the Balance at DWP and the MOD on Pension payments, I can see Crown Agents Bank getting all the Work from them. The head of Barclay International is a Pratt of the First degree ( I know him personally from Gibraltar) and is only out for Himself. I can foresee, another RBS issue coming and even a fall of the bank if they are not careful He cocked up over Mortgages at a High Interest level to Spanish and UK Buyers that fell foul and they had to repossess an awful lot of Property. [ That they now hold and can't move] He has to do some damage Limitation. To my mind he is using the Wrong tactic and the wrong people on this occasion and many will have to leave these 2 Islands as getting another bank to honour those Pension payments will be very hard in this day and Age.

I will be following this one carefully as I have an Interest on Malta tied to the bank. Luckily I am already with the Crown Agents bank so I will not Suffer.

JMHO on this but it is a personal issue to me.

JP