Bank charges are bullish
Friday 12 June 2009
In our June Newsletter regarding tax planning, we explained that the government needs your money to help repay the massive debt...so do not be surprised if tax rates increase.
But its not just the government that wants your capital. The banks need your money to rebuild their capital base which can only come from charges. After our Newsletter was written, I noticed an example of the banks charges. See the Daily Express who reported on Britain's Banks being accused of 'blatant profiteering' potentially hindering the recovery of the property market by pushing up mortgage costs.
My point is that all individuals need to be careful and thoughtful in the way they use banks. I have no doubt that charges, both explicit and implicit, will rise. Whilst paying charges is OK, you must receive value. If not think about your options.
posted by Murray Round Wealth Management @ 11:30,
The Authors
Nicholas Round
Nic is the Managing Director of Murray Round Wealth Management Limited, who seeks to ensure the advice provided is truly independent. Based in Shropshire with clients local, national and worldwide, Nic has strived to find the best possible service for his clients needs, by researching and studying the market, trends and philosophies. Nic strongly believes Asset Class Management will bring his clients Financial Freedom, Independence and Happiness.
Kirsty
Kirsty is our communication guru. Managing information requires considerable due diligence and her passion for organisation gives the clarity we all seek. From Shropshire, with a Psychology Degree and much travelling, she is now back in Shrewsbury...and London often, keeping us all at Murray Round focused.
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