George Osborne says that we all must pay more taxes and receive fewer public services. According to the chancellor there is no Plan B for the UK economy – but he’s utterly wrong. We could make one simple spending cut that could make all others unnecessary. Here’s Plan B: cut the benefits to bankers! Banks are the most heavily subsidised businesses in the world, specially protected by governments. While the money runs out for the rest of us, the largest private banks still thrive. This is because they get the biggest subsidy of them all – the licence to print money. Hard to believe? Martin Wolf, the Chief Economics Editor at the Financial Times, said it recently: “The essence of the contemporary monetary system is the creation of money, out of nothing, by private banks’ often foolish lending…” You heard that right. Private banks create money out of nothing! Then they loan it to us and ask for interest on top! If you’ve ever wondered why the bank buildings around the world soar higher than any palace or spire ever did, you now have the answer. But the banks don’t simply print money using secret printing presses in their basements. They don’t have to. Like so many other things these days, printing money has now gone digital. With the popular use of debit cards, electronic fund transfers, and internet banking, only 3% of the money in the UK is now made of paper and metal coins. The other 97% is entirely in computers. Electronic money is convenient for everyone, but it’s …
One of the best videos I have come across on the subject of internet banking.
George Osborne says that we all must pay more taxes and receive fewer public services. According to the chancellor there is no Plan B for the UK economy – but he’s utterly wrong. We could make one simple spending cut that could make all others unnecessary. Here’s Plan B: cut the benefits to bankers! Banks are the most heavily subsidised businesses in the world, specially protected by governments. While the money runs out for the rest of us, the largest private banks still thrive. This is because they get the biggest subsidy of them all – the licence to print money. Hard to believe? Martin Wolf, the Chief Economics Editor at the Financial Times, said it recently: “The essence of the contemporary monetary system is the creation of money, out of nothing, by private banks’ often foolish lending…” You heard that right. Private banks create money out of nothing! Then they loan it to us and ask for interest on top! If you’ve ever wondered why the bank buildings around the world soar higher than any palace or spire ever did, you now have the answer. But the banks don’t simply print money using secret printing presses in their basements. They don’t have to. Like so many other things these days, printing money has now gone digital. With the popular use of debit cards, electronic fund transfers, and internet banking, only 3% of the money in the UK is now made of paper and metal coins. The other 97% is entirely in computers. Electronic money is convenient for everyone, but it’s …
Question by John M: Do all online banking services lag?
I have online banking at my bank, but when I buy something, it takes 2-3 days to show up in my transactions log, and when it does, it’s all out of order (based on the order that I bought the items throughout the day). I haven’t tried any other banks, so I don’t know if this is standard for all online banking services.
Is there a bank that has really top notch online banking, specifically real time transaction logs (or close to it)?
Thanks!
Chosen answer:
Answer by Scott1120 It depends on the merchant sometimes and not just the bank. Some merchants will post the transactions the same day while other may take up to 2 or 3 days sometimes.
How about adding your own answer to the comments below!
A question asked by Jim M: Which bank in UAE has the best online banking services?
Can you send money to a bank account in another country online with this bank? How much would they charge for this?
Can you transfer money to a different account in another local bank online with them? How much do they charge for it?
The best answer:
Answer by kpmljd Most UAE banks have online banking system.
I have used HSBC and they have a good online bankin envt and have quick online responses to your queries.I am not sure of the transfer rates.But shall let u know as soon as I double chek the details
A question asked by Jim M: Which bank in Bahrain has the best online banking services?
Is it possible with this bank to transfer money to a bank account in another country online? How much would they charge for this?
Can you transfer money to a different account in another local bank online with them? How much do they charge for it?
My chosen answer:
Answer by Efin Well, I can tell you that most of BBK’s branches have Western Union, right on spot, you can use it to send money to someone else. It’s more electronic than online though. Hope this helps
How about adding your own answer to the comments below!
A question asked by Jim M: Which bank in Egypt has the best online banking services?
Is it possible with this bank to transfer money to a bank account in another country online? How much would they charge for this?
Why do you think it’s unsafe? Bank websites are usually secure.
Can you transfer money to a different account in another local bank online with them? How much do they charge for it?
Some excellent information about online banking is provided in this short video.
This is the latest television commercial to create awareness and promote usage of net banking services from India’s largest Bank-State Bank of India. The Creative Rationale is very simple: More and More people are now “Online”…so forget “Inline” (refering to Queue) banking and migrate to “Online Banking”…the most convenient, easy and secure mode of banking. Video Rating: 5 / 5
Question by Jim M: Which bank in Kuwait has the best online banking services?
Can you send money to a bank account in another country online with this bank? How much would they charge for this?
Can you transfer money to a different account in another local bank? How much do they charge for it?
Chosen answer:
Answer by cakes4africa Ask people living in Kuwait:
Question posed by RassyBeds: Why does it take online banking services 3 days to clear payments when the transactions are all electronic?
When I transfer money between online bank accounts, I don’t understand why it takes three days to clear. I undertand this used to be the case when I used to pay cheques into the bank manually and staff had to process these, but I don’t expect this when this is done electronically.
The top answer:
Answer by Sparkle23 It takes three days if different organisations are involved as the money still needs to go through a clearing cycle and also all transactions need to be monitored for money laundering purposes. so although it isn’t involving staff manually working the transfers still have to go through certain processes before they can be cleared for use in the other organisation.
