Classic CBA Banking spin

Dazz

Dazz

Yesterday received a corker of a notice....right up there with the best of 'em.


"Dear Dazz and Mrs Dazz,

We are adjusting (ed. are you ??) the interest rate applicable to credit balances on your Viridian Line of Credit account.

We have recently improved (ed. who says ??) our banking systems to provide a faster, more responsive service for our customers (ed. at whose expense ??)"

Your current credit balance interest rate for all funds over $ 0 is 5.00% pa.

As from 4 July 2011, the new rates applicable shall be ;


$ 0 to $ 49,999...................0.01% pa
$ 50,000 to $ 99,999............0.05% pa
$ 100,000 + .......................0.20% pa


Love and hugs,


Your friendly CBA Banking Team"


I reckon that is pretty fair. Not much of a drop. I'll be keen to give them as much as possible.

In the top right hand corner they've got their logo and their motto "Determined to be different". I guess they certainly are.
 
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.....hmmmm.....today must be the day for Bank notices.....just received this from Bankwest via email....


As a valued Bankwest TeleNet Saver customer, we're pleased to let you know we will be paying you a Winter warmer savings bonus, to keep your savings well covered. This means your Standard Variable Interest Rate applicable to your TeleNet Saver account has been increased by 0.50% to 5.25% p.a.* effective 2 June 2011.
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Now that looks like more of a normal notice....a nice 9% increase rather than 50,000% decrease on the rate payable.

I swear the CBA has a team somewhere - seated in the opposite corner to their solicitors - who make up the fluffy slogans and feel good messages to soften you up and lull you into a false sense of hope before their dogs of war go to work on ya.
 
Dazz said:
I swear the CBA has a team somewhere - seated in the opposite corner to their solicitors - who make up the fluffy slogans and feel good messages to soften you up and lull you into a false sense of hope before their dogs of war go to work on ya.
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If you want to see some real slap stick comedy, put a group from legal and a group from marketing in the same room and tell them to come up with a 2 year business stategy.

Only feed them energy drinks.
 
Dazz said:
.....hmmmm.....today must be the day for Bank notices.....just received this from Bankwest via email....





Now that looks like more of a normal notice....a nice 9% increase rather than 50,000% decrease on the rate payable.

I swear the CBA has a team somewhere - seated in the opposite corner to their solicitors - who make up the fluffy slogans and feel good messages to soften you up and lull you into a false sense of hope before their dogs of war go to work on ya.
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They do make it hard to imagine anything else.....
 
Dazz said:
..

I swear the CBA has a team somewhere - seated in the opposite corner to their solicitors - who make up the fluffy slogans and feel good messages to soften you up and lull you into a false sense of hope before their dogs of war go to work on ya.
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Make me happy when i read something like this,from the walk up the letter box 6 times a year and pick up the cheques units holders like myself :rolleyes:best investment i ever made was buying CBA at $10.45..and have reinvested every div for the last 17 years..
 
willair said:
Make me happy when i read something like this,from the walk up the letter box 6 times a year and pick up the cheques units holders like myself :rolleyes:best investment i ever made was buying CBA at $10.45..and have reinvested every div for the last 17 years..
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That's great but it still would not stop me from wondering whether to rip my money out of my CBA deposits and into a Bankwest account
 
jaycee said:
That's great but it still would not stop me from wondering whether to rip my money out of my CBA deposits and into a Bankwest account
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Just go with the flow Mate,everybody complains about Banks,but without them we would all be still living in caves ..
 
willair said:
Just go with the flow Mate,everybody complains about Banks,but without them we would all be still living in caves ..
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I disagree with that. Without banks, bankers would be living in caves. The rest of us would be doing better than we are presently.

Modern day banking is parasitic by nature. The banks are insolvent, yet backed by government, who taxes the public in order to prop the banks up, so that the banks can lend money (at interest) to the public who is paying the taxes to the government that is propping the bank up.

Big Banks = Dracula's Castle
 
PT_Bear said:
willair still wins! You take your money out of CBA and put it into a bank owned by CBA!
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I know hey !!!!!!

I was just trying gree with Dazz... the CBA offer seems ****




maybe of course I am wrong, it thas happened before

maybve Dazz is wrong to suggest a 50000% drop in intrest paid is confusing when another bank increases theris by 9% ??
 
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Ocean Architect said:
I disagree with that. Without banks, bankers would be living in caves. The rest of us would be doing better than we are presently.

Modern day banking is parasitic by nature. The banks are insolvent, yet backed by government, who taxes the public in order to prop the banks up, so that the banks can lend money (at interest) to the public who is paying the taxes to the government that is propping the bank up.

Big Banks = Dracula's Castle
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Depends on what side of the table you are on,but if you can't borrow funds from the Banks,Family,Slim Tony at the local front bar then where do you get the money from,most of the debt is hedged at a weighted average,most balance sheets remain solid,total assets,and very low gearing,like i have said for many years,the only way to get even is invest in them..
 
willair said:
Depends on what side of the table you are on,but if you can't borrow funds from the Banks,Family,Slim Tony at the local front bar then where do you get the money from,most of the debt is hedged at a weighted average,most balance sheets remain solid,total assets,and very low gearing,like i have said for many years,the only way to get even is invest in them..
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I was talking about the centrally bank issued debt currency monetary system as a whole, but I've argued that on this forum before and don't want to have a heart attack
 
willair said:
Make me happy when i read something like this,from the walk up the letter box 6 times a year and pick up the cheques units holders like myself :rolleyes:best investment i ever made was buying CBA at $10.45..and have reinvested every div for the last 17 years..
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Willair
Out of interest did you use DRP, and what % of original investment return are you getting on dividend now.
We started in 1991 and also used options along the way (still do) but the income is just over 200% now dividend only, hope you don’t mind, but you are a rare beast.
 
Dazz said:
$ 0 to $ 49,999...................0.01% pa
$ 50,000 to $ 99,999............0.05% pa
$ 100,000 + .......................0.20% pa
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Wow! 0.2% hey? Make sure you do all you can to stay over that 100k limit then! You do realise that's 300% times the rate under 100k! Again i say wow! :rolleyes:

willair said:
Just go with the flow Mate,everybody complains about Banks,but without them we would all be still living in caves ..
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I'd agree - without banks, the rich would be richer, the poor would be poorer....etc.
Only the cash-rich would afford houses, the rest of us would have to rent!

...either that, of real estate would be dirt-cheap - or both!

I just had my first (and only) warm fuzzy feeling for a bank! wtf?
 
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20% on a LOC which is basically a gigantic credit card..... did you tell them to shove it or what?
 
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willair said:
Make me happy when i read something like this,from the walk up the letter box 6 times a year and pick up the cheques units holders like myself :rolleyes:best investment i ever made was buying CBA at $10.45..and have reinvested every div for the last 17 years..
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You got yours dear Willair. Long time ago now but I'm sure I only paid $5.40 for my shares in 1994 or 1995 I forget. Love that dividend.

I'm happy they are ripping Dazz off. Not happy about BankWest offering more money though. Going to hurt the bottom line.
 
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