joshnii 2 Posted June 5, 2009 Share Posted June 5, 2009 Only in Japan sounds like a cliche but I can't think of another country where at 6:01pm on a weekday they charge you 105 yen to withdraw money from your own bank account (and from the actual branch as well). Outrageous it is. Anywhere else fleece you like that? Link to post Share on other sites
JA2340 16 Posted June 5, 2009 Share Posted June 5, 2009 Don't come near an Oz bank, then! They will charge you a fee just to walk into the bank! Then extra if you want to talk to a "person" and then another one if you want to check your balance at an ATM. And, a higher fee if you use an ATM that is not one of theirs, I could go on, but that'd bore you sh!tless! Link to post Share on other sites
joshnii 2 Posted June 5, 2009 Author Share Posted June 5, 2009 Seriously? I was held up and still thought it was before 6pm but obviously not. 105 yen please for taking your own cash. Link to post Share on other sites
HelperElfMissy 42 Posted June 5, 2009 Share Posted June 5, 2009 What angers me is that initially they installed ATMs and told us that it was to reduce bank costs (and then cut back on branches and branch staff) - and it is only now that we are totally reliant on ATMs that they slog us with these ATM fee's. What a cheek! They earn the money from us by using our money (our deposits), and charging us interest. They charge us account keeping fees, and now a fee just to check our balance on a machine! No wonder the oldies are stuffing cash under thier mattresses!!! Sad to hear the same rubbish is going on in Japan. Link to post Share on other sites
Go Native 70 Posted June 6, 2009 Share Posted June 6, 2009 joshnii as JA points out the fees in Japan are nothing compared to what people get hit with in Aus. In Australia banks are some of the biggest and most profitable businesses in the country. Japanese banks have a long way to go before they get anywhere near the fleecing levels in Aus. Link to post Share on other sites
joshnii 2 Posted June 6, 2009 Author Share Posted June 6, 2009 Thats interesting to hear, didn't know that. Link to post Share on other sites
Tubby Beaver 209 Posted June 6, 2009 Share Posted June 6, 2009 when I was in Oz, I was well pissed off with the banks. They were wanting to charge me a 5 dollar fee per month, regardless if I had money in it or not. If I had no money in it then they would take their 5 bucks and then charge me 30 bucks for being overdrawn!! what a swizzle!! I found out via the backpacking jungle drums that Woolworths had a telephone bank and they don't charge any fee. Its run in partnership with Commonwealth Bank so I went into a CB branch and enquired about opening a Woolies account only to be told by the women that I wasn't elligible as a foreigner but I could have a regular CB bank account (all for the monthly fee of $5). I insisted that she was wrong but she just counter insisted, in the end I told her where to go and marched off to the Woolies down the street, they had a stall there with a freephone, I picked it up, spoke to someone from Woolies bank, asked about opening an account...no problems....I told them I was a foreigner....no worries came the reply!! Bitch teller in CB was just trying to rip me off!! I was fuming! Link to post Share on other sites
bobby12 0 Posted June 6, 2009 Share Posted June 6, 2009 We have it lucky in UK, basically no charges to withdraw cash or to make a bank transfer. You can also take cash out easily in most shops/pubs/restaurants when paying with your bank card. The only fleecing is if you get stuck somewhere with no banks, then sometimes you see mini cash points in conbinis or gas stations and they will charge you 3.50 GBP (apx. 500yen) to make a withdrawal. Link to post Share on other sites
grungy-gonads 54 Posted June 6, 2009 Share Posted June 6, 2009 Surprising that UK banks are not the ones ripping people off. Makes a change! About the charge here, I can't really understand why "after 6pm" should be different from "before 6pm". It's not as if there's a dude in there (surely no?!) Link to post Share on other sites
JA2340 16 Posted June 6, 2009 Share Posted June 6, 2009 Originally Posted By: Tubby Beaver I insisted that she was wrong but she just counter insisted, in the end I told her where to go and marched off to the Woolies down the street, they had a stall there with a freephone, I picked it up, spoke to someone from Woolies bank, asked about opening an account...no problems....I told them I was a foreigner....no worries came the reply!! Bitch teller in CB was just trying to rip me off!! I was fuming! When I was a tacker, I had a Connonwealth account with school bank. Kept the CBA account until I was around 45. Wanted (no, actually make that NEEDED) a loan for a new car, asked at the bank but answer was "No, not enough money in the account." Told them the history, and that the wife had just tossed me out and I had zero assets - they said "So sorry about your personal situation but you still cannot have the loan." I was a tiny bit angered at that, went to the local Credit Union, asked them, told them the situation, they said "IF you transfer all your accounts to us, and deposit all your income to us, OK!" Guess what I did?? That was 15 years ago, Never been back, never had any second thoughts. Which bank? All bloody banks! Link to post Share on other sites
yoroshiku onegai shimasu 2 Posted June 7, 2009 Share Posted June 7, 2009 At least we get healthy interest on our money we keep in the Japanese banks. Link to post Share on other sites
indosnm 0 Posted June 7, 2009 Share Posted June 7, 2009 How do you think banks make their money??? Fee's! My oz bank takes $8 to receive money from OS but the other way is a whopping ï¿¥4500 (then there's the sending cost) Link to post Share on other sites
JA2340 16 Posted June 7, 2009 Share Posted June 7, 2009 No, Indo! The banks make their money by borrowing OUR money at crap interest and lending it to US at higher rates. Simple! They have only recently started to make fees their main source of income, because there has been some regulation of the interest rate they can charge. Besides, they KNOW they have a captive clientelle, because the general run of customers do not have the guts to go elsewhere. My advice to all Oz - go find a locally controlled Credit Union, put your money there! The banks can go whistle! Link to post Share on other sites
indosnm 0 Posted June 8, 2009 Share Posted June 8, 2009 JA, yeah well the borrowing and lending is a no brainer, but do a detailed analysis of the money they make from fees. It's a big part of their bottom line.. PS I use both banks and CU'S. Link to post Share on other sites
joshnii 2 Posted June 8, 2009 Author Share Posted June 8, 2009 Originally Posted By: Indo How do you think banks make their money??? Fee's! Well, apparently they do not make their money on fees for taking out your own money after 6pm and on weekends in the UK. And that's what in fact the initial post was about. Link to post Share on other sites
thursday 1 Posted June 8, 2009 Share Posted June 8, 2009 if you're on about consumer banking, the NII, (net interest income) portion is a lot higher than NFI (net fee income). Corporate, wholesale banking is about even. There's a lot of advising, which is a fixed monthly fee to retain some "expert" consultancy. I know some advisers who get in touch with each client about once a month. Totally rip off. Link to post Share on other sites
BagOfCrisps 24 Posted June 8, 2009 Share Posted June 8, 2009 Are you in banking thursday? (Other than posting here of course, so I realise it must be part time ) Hard to love a bank. Would be even harder if they wanted cash to withdraw beer money. Link to post Share on other sites
JA2340 16 Posted June 8, 2009 Share Posted June 8, 2009 Originally Posted By: joshnii Originally Posted By: Indo How do you think banks make their money??? Fee's! Well, apparently they do not make their money on fees for taking out your own money after 6pm and on weekends in the UK. And that's what in fact the initial post was about. The OP was in relation to "only in Japan" - my comments are relating to banks in Oz. They have no diference as for time of withdrawl, they'll take a fee off you anytime! Link to post Share on other sites
happyhappy 0 Posted June 8, 2009 Share Posted June 8, 2009 Seriously, you need to pay to use an ATM at any time in Oz? Link to post Share on other sites
HelperElfMissy 42 Posted June 8, 2009 Share Posted June 8, 2009 pretty much Link to post Share on other sites
rach 1 Posted June 8, 2009 Share Posted June 8, 2009 So you go to the ATM and withdraw $200. How much do they rip you for doing that? Link to post Share on other sites
HelperElfMissy 42 Posted June 8, 2009 Share Posted June 8, 2009 depends what bank you are with and what atm you withdraw from. Some smarties are moving banks and only using 'own bank' machines and escaping without atm fee's. But if I checked I am checking my balance (to see how much I can withdraw) and then withdrawing the $200 at my own machine at a cheeky bank I might pay $2 for each transaction - so an extra $4, but I did see a report about checking balance and withdrawing $20 from an account at an rival atm which ended up costing more in fee's than the $20 withdrawal - that sux!!! Link to post Share on other sites
BagOfCrisps 24 Posted June 9, 2009 Share Posted June 9, 2009 We seem to have it good here in the UK, certainly with ATM stuff anyway. Link to post Share on other sites
Tubby Beaver 209 Posted June 9, 2009 Share Posted June 9, 2009 Originally Posted By: BagOfCrisps We seem to have it good here in the UK, certainly with ATM stuff anyway. yeah the UK is good...now. Barclays tried to introduce fees a couple of years back and for a month or 2 a few banks followed suit but it was ruled illegal, something to do with the agreement they all made when they entered into the "Link" system......GIRUY greedy fat cat bankers!!! Link to post Share on other sites
muikabochi 208 Posted June 9, 2009 Share Posted June 9, 2009 Didn't know that them trying to introduce them. Link is the way you can use your card at other banks ATMs right? Link to post Share on other sites
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