another totally off topic post

On 25/08/2013 09:04, Woody wrote:
"Bill Wright" wrote in message
...
Woody wrote:

Can I recommend First Direct?

Part of HSBC. Is it telephone Banking only?

Bill



It is, based in Leeds.

As for interest rates - wassat?. Does any bank pay any interest
that hasn't got at least one zero after the decimal point? Pre
2008 FD used to pay interest on current account credit balances.



Santander 123 account. Account charge £2 a month. Commission paid to you
on certain direct debit and up to 3% interest to a max of £20K. More
than £20K no interest.
You can open more than one account provided you have two direct debits a
month from it.
Derek

On 25/08/2013 11:02, Norman Wells wrote:
brightside S9 wrote:
On Sun, 25 Aug 2013 09:04:39 +0100, "Woody"
wrote:

As for interest rates - wassat?. Does any bank pay any interest
that hasn't got at least one zero after the decimal point? Pre
2008 FD used to pay interest on current account credit balances.

Santander online 123 current account pays 3% on balances fron £3k to
£20k.

So, that's 2.4% after basic rate tax, less £2 a month charges, equals,
oooh, about 1.9% net if you have a £5000 balance. The RPI measure of
inflation is running at 3.1% currently, so you'll only be losing 1.2% of
your total balance in real purchasing terms every year. Yippeeeeee!


If you have a better one. I think we should be told:-)
Derek

Martin wrote:

I had a bank account with YPB, when I was very young. I have no
recollection of it being closed.

So, with the accumulated interest, you might be massively wealthy. :-)

--
SteveT

Martin wrote:

It was a penny bank. Let's not get carried away.

Well, just for fun I pretended you'd got £1 in there in 1953, and not
touched it since. If we assume that interest rates and inflation have
roughly tracked each other, then today you'd have £23.64.

"Massively rich" isn't quite the right term, I agree, but still.....

--
SteveT

"Martin" wrote in message
...
On Sun, 25 Aug 2013 23:21:53 +0100, Derek F
wrote:

On 25/08/2013 11:02, Norman Wells wrote:
brightside S9 wrote:
On Sun, 25 Aug 2013 09:04:39 +0100, "Woody"
wrote:

As for interest rates - wassat?. Does any bank pay any interest
that hasn't got at least one zero after the decimal point? Pre
2008 FD used to pay interest on current account credit balances.

Santander online 123 current account pays 3% on balances fron £3k to
£20k.

So, that's 2.4% after basic rate tax, less £2 a month charges, equals,
oooh, about 1.9% net if you have a £5000 balance. The RPI measure of
inflation is running at 3.1% currently, so you'll only be losing 1.2% of
your total balance in real purchasing terms every year. Yippeeeeee!


If you have a better one. I think we should be told:-)

Oz Commonwealth Bank and ANZ Bank.

But wouldn't I have to emigrate to the Colonies to take advantage of those
deals?

--
JohnT

"Martin" wrote in message
...
On Sun, 25 Aug 2013 17:28:22 -0500, "Steve Thackery"
wrote:

Martin wrote:

I had a bank account with YPB, when I was very young. I have no
recollection of it being closed.

So, with the accumulated interest, you might be massively wealthy. :-)

It was a penny bank. Let's not get carried away.

"If you invested a penny in the time of Julius Caesar at 2.5% compound
interest per annum, by now it would be worth a piece of gold the size of the
Earth."

That's what they used to say in the 60s. I worked it out once, and it's
correct to an order of magnitude. I doubt it's still true, due to the vast
increase in the value of gold. (It was about £12 an ounce then, when the $US
was on the gold standard - more like £900 today.)

--
Max Demian

In message , Max Demian
writes
"Martin" wrote in message
.. .
On Sun, 25 Aug 2013 17:28:22 -0500, "Steve Thackery"
wrote:

Martin wrote:

I had a bank account with YPB, when I was very young. I have no
recollection of it being closed.

So, with the accumulated interest, you might be massively wealthy. :-)

It was a penny bank. Let's not get carried away.

"If you invested a penny in the time of Julius Caesar at 2.5% compound
interest per annum, by now it would be worth a piece of gold the size of the
Earth."

That's what they used to say in the 60s. I worked it out once, and it's
correct to an order of magnitude. I doubt it's still true, due to the vast
increase in the value of gold. (It was about £12 an ounce then, when the $US
was on the gold standard - more like £900 today.)

But if you had a piece of gold the size of the planet Earth, it would be
so common that its price would probably be, weight for weight,
comparable with a piece of earth. You could even argue that although
gold has its uses, and is a desirable commodity, for many things earth
is more useful (as King Midas was once heard to say).
--
Ian

On Mon, 26 Aug 2013 10:42:14 +0100, Ian Jackson
wrote:

"If you invested a penny in the time of Julius Caesar at 2.5% compound
interest per annum, by now it would be worth a piece of gold the size of the
Earth."

That's what they used to say in the 60s. I worked it out once, and it's
correct to an order of magnitude. I doubt it's still true, due to the vast
increase in the value of gold. (It was about £12 an ounce then, when the $US
was on the gold standard - more like £900 today.)

But if you had a piece of gold the size of the planet Earth, it would be
so common that its price would probably be, weight for weight,
comparable with a piece of earth. You could even argue that although
gold has its uses, and is a desirable commodity, for many things earth
is more useful (as King Midas was once heard to say).

What you'd actually have would be a piece of paper saying "I promise
to pay the bearer on demand a piece of gold the size of Planet Earth".

The gold itself needn't exist, so how that would affect its notional
value I'm not exactly sure.

Rod.

Derek F wrote:
On 25/08/2013 11:02, Norman Wells wrote:
brightside S9 wrote:
On Sun, 25 Aug 2013 09:04:39 +0100, "Woody"
wrote:

As for interest rates - wassat?. Does any bank pay any interest
that hasn't got at least one zero after the decimal point? Pre
2008 FD used to pay interest on current account credit balances.

Santander online 123 current account pays 3% on balances fron £3k
to £20k.

So, that's 2.4% after basic rate tax, less £2 a month charges,
equals, oooh, about 1.9% net if you have a £5000 balance. The RPI
measure of inflation is running at 3.1% currently, so you'll only be
losing 1.2% of your total balance in real purchasing terms every
year. Yippeeeeee!
If you have a better one. I think we should be told:-)

If anyone has a better one, _I_ would like to be told.

What's happening with savings is a disgrace at present. Those who have
savings, many of whom are elderly and vulnerable, are currently being
fleeced of up to 3.1% of the real value of their savings every year,
largely unwittingly.

Give us your money, the banks and the government say, and we'll give you
back less in a year's time.

Nice work!

On 26/08/2013 08:47, Martin wrote:
On Sun, 25 Aug 2013 23:21:53 +0100, Derek F
wrote:

On 25/08/2013 11:02, Norman Wells wrote:
brightside S9 wrote:
On Sun, 25 Aug 2013 09:04:39 +0100, "Woody"
wrote:

As for interest rates - wassat?. Does any bank pay any interest
that hasn't got at least one zero after the decimal point? Pre
2008 FD used to pay interest on current account credit balances.

Santander online 123 current account pays 3% on balances fron £3k to
£20k.

So, that's 2.4% after basic rate tax, less £2 a month charges, equals,
oooh, about 1.9% net if you have a £5000 balance. The RPI measure of
inflation is running at 3.1% currently, so you'll only be losing 1.2% of
your total balance in real purchasing terms every year. Yippeeeeee!


If you have a better one. I think we should be told:-)

Oz Commonwealth Bank and ANZ Bank.

Sterling account in UK?
Derek