Comments on: British banks profit from a nation of debt http://benmetcalfe.com/blog/2005/09/british-banks-profit-from-a-nation-of-debt/ The Virtual Investor Wed, 08 Sep 2010 11:26:00 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Larry Grant http://benmetcalfe.com/blog/2005/09/british-banks-profit-from-a-nation-of-debt/comment-page-1/#comment-147194 Larry Grant Mon, 08 Jan 2007 18:11:14 +0000 http://benmetcalfe.com/blog/index.php/2005/09/01/british-banks-profit-from-a-nation-of-debt/#comment-147194 Ben you are absolutely right about the duplicity of UK banks, although I suspect this is not purely a UK phenomenon. Whilst 'bad debt' is clearly a problem for banks, returns from the normal level of debt carried by individuals (who service their debts but make very little progress reduding it) constitutes a significant part of banks' income. It's interesting that the banks are reluctant to provide this information, it tends to be bundled within their overall investment return numbers. Ben you are absolutely right about the duplicity of UK banks, although I suspect this is not purely a UK phenomenon. Whilst ‘bad debt’ is clearly a problem for banks, returns from the normal level of debt carried by individuals (who service their debts but make very little progress reduding it) constitutes a significant part of banks’ income.

It’s interesting that the banks are reluctant to provide this information, it tends to be bundled within their overall investment return numbers.

]]> By: Rich http://benmetcalfe.com/blog/2005/09/british-banks-profit-from-a-nation-of-debt/comment-page-1/#comment-499 Rich Fri, 02 Sep 2005 11:40:18 +0000 http://benmetcalfe.com/blog/index.php/2005/09/01/british-banks-profit-from-a-nation-of-debt/#comment-499 Hi Ben The Charity Bank apparently lets you exploit the UKGov's Give As You Earn system, so that by effectively lending money to charities (by putting your cash into a savings account at the bank) you're able to claim the 28%, or something (I don't fully understand it myself!). What it amounts to is a more generous savings account than other banks. No idea on the details though. http://www.charitybank.org/ I've not tried it, but saw it recommended on www.moneysavingexpert.com (in itself a very good site). Rich Hi Ben

The Charity Bank apparently lets you exploit the UKGov’s Give As You Earn system, so that by effectively lending money to charities (by putting your cash into a savings account at the bank) you’re able to claim the 28%, or something (I don’t fully understand it myself!). What it amounts to is a more generous savings account than other banks. No idea on the details though.

http://www.charitybank.org/

I’ve not tried it, but saw it recommended on http://www.moneysavingexpert.com (in itself a very good site).

Rich

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