The news at the minute, and it is distasteful news, is that some UK Banks that were bailed out by the taxpayer (that's you and me) are planning a bonus payout for their employees.
In truth, there are many hard working people in the UK banks who are just as fearful of their job security as everyone else is. The issue of the bonuses is that the taxpayer, you and me, will be indirectly paying them.
The rationale for the bonuses is that everyone in the banks has worked hard and that some areas of the banks were profitable, like revenue from bank charges, credit card charges and mortgage and loan arrears fees (more on this further in this article).
The reason I ask is everyone sleeping out there is this.
You expect a Bank to make a profit, you expect people to work hard, both with your money that they’ve already got, and your tax payer money which they’ve also got to bail them out, so why the bonus?
It’s like going to a restaurant and the waiter or waitress saying "I’ll only provide good service and good food if you tip me”.
Despite the recession and damage done by the Banks over greedy lending, they still have lots of money sitting in their coffers; the problem is they are not moving it around. Even businesses and customers with exemplary credit ratings are finding it difficult to get lending facilities.
I live in Northern Ireland and I regularly tune in to the news and current affairs in the Republic of Ireland: public opinion and anger over the current recession is much the same if not more so there.
In one story, the ROI Govt, in an attempt to reduce public expenditure, withdrew health benefits from some 25,000 pensioners. Unfortunately for the Govt, these pensioners were not asleep at the time of this action and many thousands of pensioners marched on the streets of Dublin holding public rallies. Eventually the Govt withdrew the scheme.
It’s the same with anything in life, if you do something you’ll get something and I have some excellent news for you.
Firstly, wake up to the fact that you can do something about how the Banks have been treating you.
There are 6 areas of banking activity in the UK that you can challenge:
Excessive bank charges on current and business accounts
Excessive credit card charges
Excessive mortgage arrears charges
Flawed loans issued before 31st March 2007
Flawed mortgages issued before 31st October 2004
Mis-sold PPI (payment protection insurance, which many people don’t realise they have)
Would you drive around in your car with a leaking fuel tank?
I don’t think so.
So why put up with excessive bank charges and faulty lending products?
Remember, Bank staff bonuses are based on profits, and in your case profits made from over charging for your banking facilities.
Stop sleeping, start realising that you are not powerless when it comes to the Banks, and there are ways of getting back your money that they have either overcharged you for, or taken money from you without you ever knowing it.
One more thing.
Start asking your elected representative where they stand with their political relationships and funding arrangements with the Banks.
You vote for these people and you pay for these people, the least you can do is ask them what they’ve been up to.
Are you still sleeping!
Get in touch with http://www.helpwithdebtni.com/ to start getting some cash back: it's your money!
