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    4. If going paperless saves Bank a lot of money, why are their accounts fees going up?
    If going paperless saves Bank a lot of money, why are their accounts fees going up?

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    +4  Views: 808 Answers: 6 Posted: 11 years ago
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      6 Answers

      Bankers are W*****s. Computers were meant to make paper redundant, it didn't, everyone now needs total identity In photos or bill ID, which means "paperwork" ALL CRAP IMHO!

      11 years ago. Rating: 9
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        hector5559

        Now Ted its all those competions you win on Craggy Ireland ,and the intrest you get on it from the banks,
        commented 11 years ago
        mycatsmom

        All the banks are horrible.They use our money and they don't pay us any interest for it......unless you consider 3/4 of a penny interest.Henry Ford said," If the American pulic knew how the banking system was really run, They'd be rioting in the streets before daybreak "
        commented 11 years ago

        Everyone talked about "going paperless". That was the idea of using a computer for all of our business and personal needs. We all know that, in fact, that has never happened. Some will go so far as to say that businesses have more paper work than ever before. Banks keep raising their fees, the same as every other business raises their prices....more $$$$$.

        11 years ago. Rating: 9
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          hector5559

          And pounds silly,
          commented 11 years ago
          Ducky

          Moderator
          Oh yes and LLLLLLLL. :)
          commented 11 years ago
          sawali

          so Ducky, should the consumers take these hikes lying low? what are your thoughts?
          commented 11 years ago
          Ducky

          Moderator
          All you can do is shop around, just like we have to do with other products. Banks compete with each other and some offer lower fees or even "no fees", as a method to win over new customers.
          commented 11 years ago

          The banks need all the money they can get to pay their big wages and bonuses, they couldn't care less about the average hard working member of the public. It's not just the banks either the energy companies are just as bad, well they certainly are in th UK anyway.

          11 years ago. Rating: 8
          Comment this answer

            ....probably because they CAN.  Just like the USPS, raising the rates on postage AGAIN.   
            I think it is because the COST of going paperless exceeds the cost of paper.  It's not just sending an email! 

            11 years ago. Rating: 6
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              sawali

              With the advent of email, USPS is fighting to survive unlike the banks. If you believe gpoing paperless is more costly why do you think Banks are taking that route?
              commented 11 years ago
              Bob/PKB

              Paperless is easier for them as it eliminates the processes of printing and mass mailings. While it cuts down on THOSE expenses, the cost of programs and upgrades and maintenance and computers is probably at least comparable.
              commented 11 years ago
              sawali

              I have been a Banker all my working life and can tell you Banks do not do unprofitable" adventures!"
              commented 11 years ago
              Bob/PKB

              I didn't say they did. Since you are a banker, it would behoove me to hear your response to the question.
              commented 11 years ago
              sawali

              Bob/pkb, my personal take on this is that banks have gotten used to squeeze customers as much as they can. If you look at their history, they never never made such enormous profits Q after Q. Lookat their bonuses at higher levels. It will blow your mind. And who pays? There should be a limit to how much a reasonable compensation should be so they can live comfortably. Not in millions. So to kkep that up, they need to increase revenue.
              commented 11 years ago
              Bob/PKB

              At the bank yesterday and the liason said they've reduced and eliminated some customer costs. I agree with you about the vulgar amounts of salary and bonuses distributed to board members and CEOs.
              commented 11 years ago

              Everything is going up don’t you know? Just find piece of penny candy or the 10 cent hamburger.. Banks like their money. There is no correlation between fees and going paperless……..

              11 years ago. Rating: 5
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                sawali

                so you don't think the banks save money by going paperless? No corelation with what? Have you seen how much money the make every quarter?
                commented 11 years ago

                They got to get money from somewhere.  Bank of America was just ordered to pay around  700 million for what some lawmakers call a scam regarding charging unfair fees, Chase Band was ordered by the court to pay untold millions.  i believe 3 billion.  This can be Googled. The banks are being blamed for the housing crisis.  Google Google.


                 

                11 years ago. Rating: 2
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                  Colleen

                  Moderator


                  _______________________________

                  sawali

                  tabber,financial industry in USA created an unprcedented housing crisis by lending avove the appraised value and sometime without down payment. Many lost houses and many made tons of $$. I have no sympathy for the banks.
                  commented 11 years ago
                  sawali

                  They were fined because they did something wrong. So for their wrong doing, you pay?
                  commented 11 years ago


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