This weekend I was given cause to write a strongly worded email to my bank, Nationwide. I admit I lost my temper and basically accused them of corporate greed, thereby losing any moral ground I stood on to begin with.

The very act of writing in anger was one that should have given me pause. I know nothing good comes from shouting the odds at people even if it is done via email. The Bible says “A soft answer turns away wrath” and a considered, well thought out email would have stated my case better and probably have done more good in this situation.

What had the bank done to earn my ire? They’d put multiple bank charges on my account without prior notice thereby meaning we had no food money for the week. It also meant that I could not access the rent money we had in there without losing some of it to bank charges. This means we would be in rent arrears and so on.

I would be the first to admit that this month I have taken my eye off the ball with regards to money. I’ve been a little down with our family circumstances which have been going on for 9 months now and show no sign of abating. That however is no excuse I know. I’m trying desperately hard to keep it all together.

With our bank, Nationwide, every time your account goes into a negative balance they charge you for it. I check my account several times a day and always try to ensure we don’t go overdrawn but with some companies taking ages to update their transactions, things do occasionally take me by surprise.

What upsets me about my bank is that being loyal customers with them counts for nothing. They have all these gimmicks to attract new customers while old longstanding customers can go rot.

They have in the past been gracious enough to refund bank charges to us. I know they don’t have to do this and it’s a goodwill gesture.

What gets my goat is their attitude ” oh, your account has gone overdrawn. Let’s add to your trauma by charging you for it” . Then you are established in a vicious cycle of charge, pay, charge pay. Do they not understand that people don’t have extra money?

It’s as if they penalise people for being poor while they sit back and make money off of the bank charges they hit us with. Times this by several hundred customers and you’re Quid’s in.

I’m very tempted to go back to the days of hiding my money under my mattress!

Seriously though I am going to try my very hardest to get us out of this financial mess, it’s just a pity that Nationwide can’t meet me halfway. It would be different if I were  deliberately irresponsible and ran up charges without caring about it but when you are trying your absolute hardest to even just keep your head above water it feels like you are being punished for it.

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2 thoughts on “Why the banks are making millions off of our misery.

  1. Suzi, I know exactly what you mean about banks and bank charges. It is a vicious cycle when you get in it. I hope and pray for a miracle for you and your family. I wish I could provide that miracle for you, but financially I can’t. I will be praying for you. I am disgusted with banks because of their outright greed. I have used a Credit Union since 1985 and I love them.

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