Community

So whilst banks are implementing Ring Fencing and PSDII there is plenty of scope in terms of time and money to implement Inst EUR Payments !!!!

It still surprises me that Taxis are not making better use of the likes of PayM. Also, aren't mobile type payments cheaper in processing than cash?

Chris

When Sir Wim Bischoff attended the Financial Services Club dinner a couple of years back, he was asked about this and he confirmed that the banks would simply charge on any tax - ultimately, it would be another tax on the end user, not the banks.

It's interesting that there is another well know bank (starting letter closely follows that of yours, I believe), who undertake a credit check when an customer wishes to open a deposit account and if the credit check fails then the bank refuses the account. I may be thick (calm down all who know me), but I really don't understand the logic - surely, it is the customer who may wish to do a credit check on the bank as they are lending money rather than the other way round (notwithstanding the reassurances of the guarantees issued by HMG).

I find it interesting that the business equivalents of Facebook/My Space; LinkedIn, Plaxo, Naymz etc are generally available.

Gary

As a representative of the corporate sector, my experience of the SEPA implementation has been disappointing.

I asked my Bank about making a Euro transfer from the Company Euro account in the UK going to another Euro account within the Eurozone. The Bank concerned seemed proud that the price for such a transfer had reduced from £20 to £15 - usual 2-5 days for the transfer to be effected. Thankfully, the Bank concerned doesn't charge me £15 for a similar GBP payment otherwise my business would go elsewhere. There has also been a view passed from Bank personnel that SEPA doesn't affect the UK to a great extent because we don't use the Euro !!!!!

The other problem I have found when chatting to bank personnel at the sharp end is that they have no idea what SEPA really means and how it impacts the customer.

Finally, as for information, given that the Company has a Euro account at a bank in the UK, I find it surprising that there have been no leaflets, information brochures etc sent by the bank about SEPA and the likely impact on company business.

Just my tuppence worth, but I agree with you Gary.

Bob