Your bank may be bad – but there are others that are worse

Business banking news review: week ending 1  May 2014

Brits are constantly struggling with their banks to be treated fairly; oftentimes these struggles result in failure, but some banks are much worse than others.

Think about this: most Brits know that their banks can change their fees and interest rates on their current accounts and savings accounts at the drop of a hat, though a good number of banks try not to play with the emotions of their customers too much. However, one bank – already reeling from scandal – has decided to to take the piss out of its packaged current account customers by increasing monthly fees by nearly 20 per cent!

The Co-operative Bank, which just can’t seem to get anything right with its £1.5 billion in missing funds – a scandal that has been seeing customers leave in droves already – now seems to think it’s a grand idea to increase the fees for many of its current account holders. Heaven knows why; apparently it’s decided it just won’t keep up the pretense of valuing its customers any more.

Speaking of having a poor opinion of its customers, things could be worse: you could be an account holder with US-based Chase Bank. If you also happen to be in the adult entertainment industry there’s a good chance your Chase bank account was just closed for you, and not because you requested it.

That’s right – the bank has decided to act in the role of the arbiter of good taste by refusing to do business with anyone who is involved in making pornographic films. Now for what it’s worth, as far as I’m concerned whatever you like to watch in the comfort of your own home is none of my damned business, but apparently Chase Bank is populated by nothing but pearl-clutching Puritanical types that can’t stand the fact that so-called ‘dirty money’ is coursing through its systems. Yet meanwhile the bank doesn’t seem to mind those Wall Street types getting away with all sorts of unethical business moves. Apparently white-collar crime is all right but completely legal businesses that deal in human sexuality are too much to bear. Blimey I’m glad I don’t live in America.

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