Lloyd’s Bank Cash Deposit Limits Woefully Inadequate!

Only £600 a MONTH can be deposited!

Who are Lloyds Bank kidding?

Far, far too low - and far too long delayed.

How much credit does a surgeon deserve who carries out a minor procedure, knowing major surgery is required to save the patients life?

The desire to limit what British citizens can do with their cash is what shines through from this low deposit ceiling.

Around a decade ago, LINK Scheme Ltd developed a universal cash deposit transaction that would have allowed customers of any bank to deposit cash at any ATM.

The only problem?

NONE OF THE BIG FIVE UK BANKS IMPLEMENTED IT.

Similarly, David Cameron’s government instructed the UK banks to introduce digital image depositing of cheques at ATMs more than a decade ago.

This was a hugely popular innovation in the United States and the then Prime Minister knew that.

The only problem?

NONE OF THE BIG FIVE UK BANKS IMPLEMENTED IT.

The Boards of the UK banks have turned procrastination on ATM innovation into an art-form.

They haven’t wanted to innovate because that would have made ATMs even more valuable to the British public - AND MADE IT MUCH MORE DIFFICULT FOR THE BANKS TO CLOSE DOWN 20,000 FREE-TO-USE ATMs IN THE LAST SEVEN YEARS.

The idea that those BIG FIVE UK BANKS are guided by what their customers want is, quite frankly, laughable.

THEIR CUSTOMERS DID NOT WANT TEN THOUSAND BANK BRANCHES CLOSED OR 20,000 ATMS REMOVED.

It is telling that within two years, Nationwide Building Society and their subsidiaries will overtake Lloyds Banking Group as the UK financial services organisation with the most customers.

Think of that.

A Mutual, almost destroyed by the carpetbaggers less than 30 years ago, standing above the banks that acquired all the demutualised Building Societies.

Poetic justice?

BIG TIME.

The BIG FIVE UK BANKS have been allowed to do what they want, at the expense of the British public.

Instead of using the 2007-2009 banking collapse - largely caused by the banks themselves- as a means of taking back control, successive UK governments have allowed the BIG FIVE UK BANKS to continue more or less as before.

When regulators have been brave enough to try to intervene, like Martin Wheatley at the Financial Conduct Authority, the individuals concerned have been removed.

Martin Wheatley should have been Knighted - but you don’t get Knighted in financial services in the UK, unless you are prepared to kneel in front of the banks, before kneeling in front of the British Monarch.

Of course, they can’t remove - OR SILENCE - those not on their payroll.

Source: uk.finance.yahoo.com/news/lloyds-becomes-uk-first-bank-070242514.html