And a reminder of how bad our banks are was Saturday's R4 Money box which revealed how tardy they are being at introducing faster banking. For most people who make a transfer of money it still takes the Banks 3 days to make the transfer- and keeping the interest they make on this for themselves.
So bad customer care helps line the pockets of financiers. It's our money that fund their bonuses. Just as they are disgracefully pocketing dormant assets and dragging their feet on handing them over to fund a Social Investment Bank.
In many industries you might find a bonus linked to better delivery for customers. Sadly not in our banking industry.
Well time for action. Time for citizens and communities to demand better banking.
The problem of financial exclusion- the lack of fair access to financial services and credit to those who deserve it- is a big worry for the third sector: it increases poverty levels amongst the lowest-income groups, which has a huge negative impact on those struggling with debt, poor housing, old age, ill-health, physical and mental disabilities, and social exclusion. Because third sector funds are spent helping those affected by these issues, financial exclusion indirectly drains millions from third sector funds. Further, it also directly impacts on third sector organisations and small businesses serving or operating in less wealthy communities, because they themselves cannot access sufficient funds.
To address the issue, we are campaigning for full financial disclosure by financial institutions, a cap on unfair credit rates for those who cannot afford them and obligations on banks to demonstrate that all who merit it have fair and equal access to credit.
To find out more, and pledge your support, visit our website www.betterbanking.org.uk, or email campaign coordinator Lucy Marples: lucy.marples@acevo.org.uk
Now let me leave you with pictures of gorgeous Charlbury in the snow. We had some proper deep snow. The Hound loved it!
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