http://www.fin24.co.za/articles/default/display_article.aspx?Nav=ns&ArticleID=1518-1522-2114_2028513
Which bank was he banking with!!!!
Which bank was he banking with!!!!
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Bitching about bank charges
- Thread starter duderoo
- Start date
It sure wasnt Barclays. The only time I pay fees with them is when I go overdrawn and that's understandable.
True and that goes with any bank in the UK, never paid for anything there, only when I was in the wrong, regards debit orders, cheques bounced etc.
nthdimension
Senior Member
Banks in the UK make their money primarily from punitive interest rates on personal loans and credit cards. So if you're like the average person, living on credit, then you are no better off than someone in South Africa.
I'm not following. I recently took out a personal loan in the UK because the interest rate was far more favourable there. We're talking under 7% - do you think FNB would offer a rate that low?
Yeah but if u ain't then u r saving allot by not paying those bank charges.
I'm not following. I recently took out a personal loan in the UK because the interest rate was far more favourable there. We're talking under 7% - do you think FNB would offer a rate that low?
Are you paying it back in pounds or R's.
Its a UK bank so £'s is the preferred currency
nthdimension
Senior Member
Typical rates are close to what you'll pay here. Which is punitive compared to their prime rate.
Its a UK bank so £'s is the preferred currency
Yeah but u could be transferring it to the UK and then paying it back.
Why I asked is with the exchange rate is 7% UK = 7% SA?
Are you sure? Prime in the UK is at 5% - the typical bank lending rate is under 7%. The typical short term savings account is 3-4%.
Whats the spread here between borrowing and saving?