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Are the banks ripping us off?
Will the banks pass on the full RBA interest rate cut?
You cannot see the results of the poll until you have voted. Please login and cast your vote to see the results of this poll.
Total Votes: 352
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post Posted: Nov 6 2010, 10:52 AM
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Well they seem to be happy to enable identity theft .

I sent an email to ANZ the other day, logged on and used their secure mail. I get this reply:
" Good Morning Mr Genninges, thank you for your reply. Dear Sir the servicing department will send you a letter to the overseas address we have recorded on the system. Once they amend the rate you will be able to see that on the Internet.
I have removed all my details in the email from this post but Mr Genninges would have received them.

My reply to this was:
What overseas address? Who's Mr Genninges?
And what two bit operation are you running!

So I checked what to do to protect myself, one was to get a copy of my personal credit file from Baycorp Advantage (this is from ANZ website) So all I have to do is sent all my identity documents to them and they will send me a credit file? What the F@#$k!

Dont worry about people going through your bins, the banks will just email all the info to the fraudsters (one in the same really)

post Posted: Mar 22 2010, 05:02 PM
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Our good and socially caring banks are at it still!

Westpac sent a leaflet stating that as of 8th June they are going to charge interest on the total amount owing on credit cards including the interest already applied,so as an example if your tally is $1000 and interest of $16.00 has been applied for the month you will now have to pay interest on that total.

In another case of questionable banking promotions a TV advert comes close to belittling other banks who charge 19.99 % on credit cards by stating that they will only charge 2.9% for an initial period but in fine print say that the rate will revert to their standard rate of 20.99%.

post Posted: Oct 28 2008, 04:40 PM
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Banks sure know how to make sure they do alright....
Shareholders are then left the scraps if there are any......
Interesting to read.

post Posted: Oct 15 2008, 07:19 PM
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In reply to: hellyeah on Wednesday 15/10/08 04:37pm

G'day Hellyeah

I'll be dropping by shortly to offer you some encyclopaedias !!!!!! laughingsmiley.gif

Actually it's two good lessons in one.

1. Read carefully before committing

2. Don't take any notice of polls


post Posted: Oct 15 2008, 04:37 PM
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In reply to: uraniumbull on Friday 03/10/08 05:48am

hey, guys, just to let you know...just found that this poll on here is visually rigged...lol...was reading are banks ripping us off...and of course clicked yes.....didn't even notice the small print underneath question are they going to pass on you know what....so as far as the running poll result is concerned should be one vote less yes and 100 votes more noooos.....lol....moral of this....always, but always, read the fineprint first before you say yes or no or sign anything!!!!!!!!!!!! devilsmiley.gif

post Posted: Oct 3 2008, 05:48 AM
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In reply to: Avenger on Thursday 02/10/08 02:35pm

Yes Avenger,
and those same greedy piggies in 1987, have one again squandered the billions.
The stupid/greedy Banks have once again lent money to the wrong people with little care or due diligence. Home owners are the small fry.
Why banks lent out Gazillions to private equity, hedge funds etc is beyond me.

Why they lent Alan Bond, or Cristopher Skase all those billions, or how Tricontinental, Bank of Victoria and South Australia all went broke was complete lack of financial control by the banks.
Lending billions to people with vague plans.

Its no better now.
I have been telling people for years that ABC Learning centres was built on a house of cards, how the banks lent to that lot I have no idea.
But hey there is worse, much worse than ABC out there that have lost hundreds of billions.

The hundreds of billions people wasted has all gone somewhere, and it has fuelled our excessive lifestyles, it has stimulated our economy.

Not just householders borrowing too much, its the big guys to blame for this mess and the banks were negligent in handing out the money so easily.

A few years ago I went to borrow $15,000, secured against a car.
I could not believe it the banks said no, unless I provided fully audited accounts for the past 2 years, signed in blood by my accountant. Self Assessed taxation office approved accounts were not allowed!

A few weeks later I went to borrow $2M and a month later $6.5M
Flashed a few numbers past their eyes.
Guess what the bank said yes!
They came to my premises twice, and approved the loans for the projects in principle within 1 hour.


I have no doubt that if I had asked for $20M I would have got it, and I have no doubt the bank had no real idea of the financial risks involved.

In the end I did not go through with the deal as there were some pretty big financial risks.

Another company ended up coughing up $1.2M more, for the project than I was willing to pay,
This company ended up losing around $1M, and is now in receivership, and the banks will probably lose $1M-$1.5M on that deal as they sell off the assets.

So glad I walked away, but the banks lent more money to a far less capable company, and did zero due diligence.

My story is repeated thousands of times around this country and these stories are about to haunt the banks for years

Life is like a toilet roll.
The closer you get to the end, the faster it goes.

post Posted: Oct 2 2008, 08:41 PM
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In reply to: Avenger on Thursday 02/10/08 07:52pm

Done deal Avenger !



post Posted: Oct 2 2008, 08:08 PM
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QUOTE (Avenger @ Thursday 02/10/08 02:35pm)

Good post Avenger, though I think this thread should be extended to supermarkets, oil companies, and local government. Each are price gouging in their insidious ways, yet there hasn't been much discussion about it

I mean, in a terrible economic climate the share price of, say, WOW looks to be travelling well, and their profits seem to be excellent.

On the price of petrol, yes we do have "foolwatch" protecting us, or so the government says. Same with food, where there is yet another watch. But it seems to me that our supposed watchdogs, the ACCC are in bed with those that control the food chain, happily allowing typical everyday items to be priced at ten times the gate cost of the producer.

As with rotten banking practices, I'm sure plenty of people here smell a rat.

post Posted: Oct 2 2008, 07:52 PM
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In reply to: henrietta on Thursday 02/10/08 03:46pm

LOL Henrietta

Had to google that!

Done deal!

I think the Commonwealth Bank would qualify. Is that good enough?
Oh, and just for a sweetner, I'll throw in a clause that 'whatever action you take cannot be looked at or questioned by any present or future body thereby making you immune to any prosecution you may or may not be liable for"



post Posted: Oct 2 2008, 03:46 PM
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QUOTE (Avenger @ Thursday 02/10/08 02:35pm)

You've got my vote, Avenger !

Of course there'll be a quid pro quo involved ......... perhaps CEO of a quango.

lmaosmiley.gif smile.gif



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