| Topic: | Re:Re:Re:Re:Re:Re:Re:Re:Supreme court backs bankers | |
| Posted by: | Bernadette Paul | |
| Date/Time: | 26/11/09 09:02:00 |
| Surely one of the problems these days is that everyone needs a bank account whether they want one or not. I am old enough to remember when workers were paid in coin of the realm before noon on a Friday each week. I believe this is aactually a statute which is still on the books under The Truck Act (or something like that). At some point employers realised that if they paid workers monthly or even fortnightly, the money could stay in their banks earning them money and with that change came the need for 99% of workers to open bank accounts. Many of these people had/have no need for a bank account other than to receive their wages. When you mismanage these accounts by even a very small amount and the charges kick in, it is entirely possible that a weeks wages can be lost in charges. The point is not everyone wants a bank account but if you are in employment the chances are you have to have one. If banks start charging simply to operate accounts, even ones that don't overdraw or incur other charges, we are then in a situation where people are forced to pay to be paid! It's all very well for those amongst us that have savings or accounts that are permanently in credit but, there are many people who simply operate accounts to receive their wages/pensions/benefits etc. I realise it would be considered a backward step but if employers were obliged to pay workers in cash on a Friday each week (if the employee so desired it) I think there would be many people who would instantly close their bank accounts in any event. At present there is nothing to choose between any bank no matter what they initially offer. They are in the business of making money usually from those who can least afford it. |