Reply to: NatWest Business Banking Terms Changing...

[TestMangler]

RBS Business Banking just fired out a similar letter. As WTF said, all banks will go that way. It is, however, just a warning that it 'may happen' and when the country booms in the way that some people tell us it's going to, then it won't actually happen.

[The Spartan]

Does anyone here do their business banking with Yorkshire Bank? I'm looking to switch from Twatwest

[NigelJK]

next time

You are going to have to be very very patient, like we were to the the chance to vote in the first place.

[WTFH]

£1,100 interest in 7 years.

[barrydidit]

So if the banks are going to start charing for credit balances, where will you stash your company cash?

Zopa?

Director's loan and buy premium bonds, cash them in and repay the loan before year end?

Any other interesting options?

Loan the money to a 'loss making' Cayman subsidiary

[OwlHoot]

Won £0 this month

Won £0 over the last fifty years AFAIK, after gramps "invested" £30 worth of premium bonds for me as a child.

[Platypus]

So if the banks are going to start charing for credit balances, where will you stash your company cash?

Zopa?

Director's loan and buy premium bonds, cash them in and repay the loan before year end?

Any other interesting options?

[WTFH]

Won £0 this month

£50 interest for me.

[AtW]

Or slam it in 'prizes not interest rates' premium bonds

"Savers plough an extra £14bn into Premium Bonds
Average return cut to 1.25%"
20 July 2016

Won £0 this month

[SunnyInHades]

Best withdraw all the money as deposit money and buy a dozen BTL on huge leverage.

Or slam it in 'prizes not interest rates' premium bonds

"Savers plough an extra £14bn into Premium Bonds
Average return cut to 1.25%"
20 July 2016

[WTFH]

One way to lose a hell of a lot of customers I suppose, I think I'm about to be one of their exes...

I suspect you'll find most banks will be doing the same, and those that don't may find themselves going under.

[AtW]

Well, yes, we all accept no interest, but the question remains - how do they charge interest on a credit balance? The more in credit you are, the more they charge?

Yes, same way as if you actually borrowed the money!!!

[Mordac]

Yes, negative interest rates work like that. If you have a lot of money in there, you will pay a lot of interest.

One way to lose a hell of a lot of customers I suppose, I think I'm about to be one of their exes...

[AtW]

And do what, if all banks are going the same way? (which they may have to if central bank interest rates go negative)

Don't vote Brexit next time, how about that???

[DimPrawn]

Well, yes, we all accept no interest, but the question remains - how do they charge interest on a credit balance? The more in credit you are, the more they charge?

Yes, negative interest rates work like that. If you have a lot of money in there, you will pay a lot of interest.

Best withdraw all the money as deposit money and buy a dozen BTL on huge leverage.

Only those in massive debt will survive the coming debt splurge.

Is that a helicopter I can hear?