From a slightly different perspective, what infuriates me, is that while shopping around for the best rate for some savings last week, more than one bank insultingly told me that even at the paltry rates they were offering me, they were actually losing money. Like they were doing me a favour. While waiting patiently to see someone in one of the banks, I browsed through a brochure offering finance on new Mercedes cars - at almost 10% APR!!!! My (now) old bank, BBVA, offered 2.35% on the condition that I put some of my hard earned into a 5 year corporate bond - paying 5% but capital only guaranteed on maturity - if I want out any time before, I'm at the mercy of the market (I'm no financial wizz, but I reckon bonds are headed down). If not, then they'd only offer 2.15%. I asked for the 2.35 on the lot - they said no, but they could offer me a "gift" of the equivalent difference (a couple of hundred euros perhaps) Silly me thought they were offering to credit my account with the difference. No, they were offering me suitcases. WOT? We've got luggage shops for that, I told them. I come to banks for money.
I withdrew my funds from BBVA. They wanted to charge me (a couple of hundred) for a transfer or bankers draft. I told them I'd take it in cash. They orderd the cash from the bullion company - at their expense. How dumb. While counting it out, the clerk made an error of a couple of grand - in my favour. I didn't bother to tell her. I knew they'd spot it when they cashed up at close of biz, but decided to let them sweat a bit. I returned it later, naturally, when they called me in a blind panic. They should've just given me a draft, which really costs them nothing. Morons.
Meanwhile, I took my dosh to Solbank who offered 3% - but not before insulting me again with the woe is me tale of how they were losing money by taking my deposit. What utter cr*p. They even tried to sell me a 2 year Telefónica bond - as if I don't already have enough hassle with that particular company. If the share price goes up by an average of up to 24% over two years, I get the same rate on my investment. But interestingly, if it goes up by more than that amount, I get 2%. Go figure.
Whether you are a saver or borrower, it seems to me that the arrogance of banks towards it's customers remains totally undiminished despite the mess they got themselves into. As long as governments continue to support them with tax payers money, I can't see this trend changing any time soon. Why they can't just get back to basics, charging borrowers slightly more than they pay savers, I don't know. Too big, I guess.
Don't even get me started on the car scrappage scheme......
Rant over - sorry for hijacking the thread.