Thursday, 22 November 2012

Frugal Tales of Business Negotiations

No Wonder the Banks are Disaster Zones!

Amidst the continuing flurry of attempts at saving the planet from global warming, dictators, star wars and total bankruptcy, I'm still astounded by the blatant money-wasting I see all around me! And today, it's shame on you Bank of Scotland!

We all accept that the days of free banking are all but gone, interest rates are at an all time low here in UK (unless you have debt, in which case the lenders seem to be coining it in!) and the country is having to bail out financial institutions left, right and centre. Who knows where it will all end? It certainly won't be anywhere pretty!

So, what's annoying this frugaler? That's simple! I can't believe the bank is distributing separate invoices for monthly charges! No doubt, it will have somethng to do with Government legislatio sonewhere along the line but come on, get a grip on the economics of this folly!

I operate a business account, I get charged transaction fees. There's usually only one or two per month - transferring my pittance to cover the cost of living and National Insurance etc. This month was no different - 35p in charges. (The frugal way is to have as few transactions as possible, merge them if you can.) As expected, the 35p showed on my monthly statement. At this point, it should be noted that I had always opted for paper free, hoping to help save a tree and the bank, but they seem to have withdrawn this option! Statements have been arriving the old-fashioned way, in printed format through the mail. There's an envelope, a couple of sheets of printed paper (and we all know how much ink or toner costs nowadays), the time taken to process the mail and the price of 1st Class postage  - 60p? They mail out thousands, so it's business post, which is slightly cheaper, but still... even at half that plus cost of everything else, my 35p bank charge just won't cover their costs. I am costing them money that they cannot afford to lose!

But hold on, what's this that's just arrived? Another envelope, another sheet of printed paper and another postal payment... telling me about the exact same 35p by way of an "Invoice".


Is it just me, or does this strike anyone else as being downright stupid, especially during times of alleged austerity, quantitative easing and financial melt-downs?



  1. I received today a letter from my local council informing us that our garden waste bin will now be changed to a different day starting on the next emptying day. Enclosed was a sticker with the new dates and days on it which they normally stick to said bin!

  2. Beginning to think that anything influenced by the Government is being "steered towards" shoring up the postal service, for want of a better explanation. On the bins subject, that's what my next post is about, funnily enough! :)

  3. That's flipping well annoying and wasteful. I am always complaining about service charges over here. To get out of paying $15 a month to be able to use our chequing account, you have to keep a balance of $3,500 in there monthly. So instead of being able to out that money in a higher interest rate savings account I have to have it stuck in there. Not that I would earn $15 a month in interest, it's just why do the banks have to say where and what you can do with your own money.

    Also got our electricity bill today and it was $140 for the month, so around 55 or 60 pounds. It cost $66 just for the delivery of it????? The delivery cost me more than the hydro we used????? I swear all these corporations are out to get us.

    Rant over, back to my cleaning!!

    Gill in Canada


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