Paypal is making the most of it as well
"Have you heard that cheques are on their way out?" slogan on front page.
None of this is being done for the benefit of the banks' customers, it is designed to reduce the banks' costs and thus enhance their profit. To follow, will be the abolition of 'free' bank accounts for personal customers followed by hefty transaction charges for both personal and business clients.
The financial systems of the world are tightening their grip on our lives, and when the banks make errors it is we that suffer one way or another. Soon, when the recession has run its course, the banks will return to their old ways, milking us for all they can. Money is power, and there is no doubt in the degree that the banks have power over us to determine our lives.
Building Societies have traditionally been great competitors to the High Street banks, and were a great alternative for the safekeeping of our monies, but gradually they have been bought out by the big banks swallowing up their competition. Even the financial side of the Post Office is now owned by the Banks. Very soon, the banks will be the only method by which we will be able to conduct any financial transaction - and will we pay for that privilege ... not half!
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