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Response to mwooldri (Reply #3)

Thu May 11, 2017, 01:56 AM

4. Banking is a very important issue....

...because of the current drive by banks to shut local branches and make everything automated.

It's been driven by how the banks got stung over mis-selling PPI. The thinking being that if people mis-sold payment protection insurance in a bid to hit sales targets then the solution is to cut out the people.

This approach does cause problems for the customer. Many people, especially the elderly much prefer dealing with a member of staff face to face and don't trust online banking very much. A lot of people still don't have access to online banking.

Another issue here is financial advice. What happens when you need it? In times past you would have simply gone to your local bank manager. Now you are more likely to end up with independent financial advisers, who are not cheap, or in some cases going towards services such as payday loans that people would otherwise be dissuaded from using.

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Replies to this discussion thread
Arrow 7 replies Author Time Post
muriel_volestrangler May 2017 OP
guillaumeb May 2017 #1
renegade000 May 2017 #2
mwooldri May 2017 #3
LineLineNew Reply Banking is a very important issue....
T_i_B May 2017 #4
LeftishBrit May 2017 #7
Ghost Dog May 2017 #5
LeftishBrit May 2017 #6
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