Banks Vex about new corporate tax

[RedVEVO]

http://newsday.co.tt/2017/10/03/batt-ba ... t-sighted/

“The fact that the commercial banking sector was singled out for this unique corporate tax rate is concerning,” .. BATT

Banks have been indiscriminately increasing charges on TT customers but now THEY vex

[toyolink]

This will be settled on the golf course one way or the other.

[Dizzy28]

Those banks could go suck monkey man's balls. When RBLs ceo having his usual Christmas cocktails for hnwc in his RBL provided house in St Clair he could ponder that 35% tax rate.

[hydroep]

LOL @ vex.

ROFL @ "discuss the matter further" with Colm.

No way they're paying that. Profits haffi make, shareholders haffi pay, customers haffi rape.

Increased fees in allyuh arse. Wait for it.

[88sins]

forget that talk about charges. That's nothing compared to what they actually do to their customers wrt interest charged on loans vs interest paid on deposits.

I say it's about time, & the CBTT has to properly regulate & monitor these bastards, cuz they gonna send interest rates on loans thru the roof to maintain their margins. They won't go for it all at once, but over the course of 2-3 years your 14% P.A. loan interest rate will climb to anywhere between 18%-24% P.A.

[sMASH]

They not really vex, u feel they will move any differently from the maxi men and taxi men?

They get an excuse to raise fees.


They already pull in hundreds of millions in profit

[Monkey Man]

Those banks could go suck monkey man's balls. When RBLs ceo having his usual Christmas cocktails for hnwc in his RBL provided house in St Clair he could ponder that 35% tax rate.

well thanks

[Dizzy28]

They not really vex, u feel they will move any differently from the maxi men and taxi men?

They get an excuse to raise fees.


They already pull in hundreds of millions in profit

That will also increase their taxes payable

[sMASH]

As long as their net profit is satisfactory, the gross profit could reach the sky.

[Chimera]

loan rates going up

them eh taking no cutbacks

[88sins]

As long as their net profit is satisfactory, the gross profit could reach the sky.

more like reach the moon, stop to fuel & keep going

[dude2014]

dey loans rate cud go up. remember some wey in here ah man was building he house by heself?

well heself to heself, ee saving money and when he lorse ee wuk he eh ha no installment to pay an de 30 years it go tek to pay back wid insrance etc he go buil it in 5 orh 6 years.

remember money is a necessari evil, banks on de other han has appointed demselves as de absolutely necessari evil ............

as de man say, so long soccers an ah doh think ee was talkin bout plantain or silk fig.

[RedVEVO]

Those banks could go suck monkey man's balls. When RBLs ceo having his usual Christmas cocktails for hnwc in his RBL provided house in St Clair he could ponder that 35% tax rate.

well thanks

Sometimes life @ Tuner is too graphic ..

* throw away lunch *

[RedVEVO]

^^^

anybody ever see " statement delivery charge " on their credit card bill ..

$4.50

[shaneelal]

^ Which bank is that? I know RBC wanted to charge me fees for mails.

[hydroep]

Effectively this is a form of Indirect Taxation upon the population.

Having a bank account these days is practically a necessity and with all the red tape involved in setting up new accounts both Government and Bankers know that customers can't easily take their business elsewhere. So it would be very easy to pass that expense onto the consumer secure in the knowledge there isn't a damn thing they can do about it. All the banks would have to do is play the victim card to keep up appearances...exactly what's going on now.

[88sins]

RBC tell me I would have to pay them iirc around $140.00+/- a year to pick up my statements at my home branch. So they expect me, to pay them, for me to pick up something they supposed to deliver in a timely manner. All because I get fedup of getting my January statement in April, never get February, March in August, etc

[RedVEVO]

Effectively this is a form of Indirect Taxation upon the population.

Having a bank account these days is practically a necessity and with all the red tape involved in setting up new accounts both Government and Bankers know that customers can't easily take their business elsewhere. So it would be very easy to pass that expense onto the consumer secure in the knowledge there isn't a damn thing they can do about it. All the banks would have to do is play the victim card to keep up appearances...exactly what's going on now.

Nah !

You can go to a Credit Union ..

[RedVEVO]

^ Which bank is that? I know RBC wanted to charge me fees for mails.

RBC ..

But if you sign up for online banking the fee is waived ..

Then Hackers take all your money ..

[88sins]

Effectively this is a form of Indirect Taxation upon the population.

Having a bank account these days is practically a necessity and with all the red tape involved in setting up new accounts both Government and Bankers know that customers can't easily take their business elsewhere. So it would be very easy to pass that expense onto the consumer secure in the knowledge there isn't a damn thing they can do about it. All the banks would have to do is play the victim card to keep up appearances...exactly what's going on now.

That's one way to look at it. But the customer always has options. For example, yours truly started keeping my cash assets home, conduct most of my transactions in cash (even some of the big ones) & I don't borrow unless it absolutely positively 150% cannot be avoided. My bank charges fees for the year have effectively dropped down from almost $1000 to about $150.00/yr. All because the few accounts I keep in the bank don't receive any charges, & one only has a charge past a certain number of withdrawals from the account.
Is keeping cash riskier than swiping your card? I honestly don't find so, but thats just me. Using cash is riskiest if you can't keep your business to yourself or you like to show off, or both.

Ppl have options, but its for each person to find what options work out best for the individual.

[RedVEVO]

Effectively this is a form of Indirect Taxation upon the population.

Having a bank account these days is practically a necessity and with all the red tape involved in setting up new accounts both Government and Bankers know that customers can't easily take their business elsewhere. So it would be very easy to pass that expense onto the consumer secure in the knowledge there isn't a damn thing they can do about it. All the banks would have to do is play the victim card to keep up appearances...exactly what's going on now.

That's one way to look at it. But the customer always has options. For example, yours truly started keeping my cash assets home, conduct most of my transactions in cash (even some of the big ones) & I don't borrow unless it absolutely positively 150% cannot be avoided. My bank charges fees for the year have effectively dropped down from almost $1000 to about $150.00/yr. All because the few accounts I keep in the bank don't receive any charges, & one only has a charge past a certain number of withdrawals from the account.
Is keeping cash riskier than swiping your card? I honestly don't find so, but thats just me. Using cash is riskiest if you can't keep your business to yourself or you like to show off, or both.

Ppl have options, but its for each person to find what options work out best for the individual.

Orr horr ..

So you like the " Bank of Mattress " ..

[Monkey Man]

allyuh know the saying "Monkey know what cash pan to use."

that applies here

[dougla_boy]

Effectively this is a form of Indirect Taxation upon the population.

Having a bank account these days is practically a necessity and with all the red tape involved in setting up new accounts both Government and Bankers know that customers can't easily take their business elsewhere. So it would be very easy to pass that expense onto the consumer secure in the knowledge there isn't a damn thing they can do about it. All the banks would have to do is play the victim card to keep up appearances...exactly what's going on now.

That's one way to look at it. But the customer always has options. For example, yours truly started keeping my cash assets home, conduct most of my transactions in cash (even some of the big ones) & I don't borrow unless it absolutely positively 150% cannot be avoided. My bank charges fees for the year have effectively dropped down from almost $1000 to about $150.00/yr. All because the few accounts I keep in the bank don't receive any charges, & one only has a charge past a certain number of withdrawals from the account.
Is keeping cash riskier than swiping your card? I honestly don't find so, but thats just me. Using cash is riskiest if you can't keep your business to yourself or you like to show off, or both.

Ppl have options, but its for each person to find what options work out best for the individual.

been telling my wife to start doing this for the longest while now.....leave money at home in a safe.... them bank fees are the worst! they charge u for everything... ... if yuh wah a statement from the bank, yuh hadda pay money....$5 - $10 a page! wdmc!!!!!

[Chimera]

but with so much robbery these days you better have that cash well hidden at home

[Dizzy28]

^^Or shop around for banks (your navel string not in deposit with any one particular bank)
With my current FCB Savings account the only fees I pay are those when I use my bank card and its like 60c per transaction. So on Average I spend $1.20 per month (about $15 for the year). Even the miserly interest rates I receive more than compensates for that.

My secondary account is with Scotia. Once I drop below 5k in deposit they charge $10/month in fees however once the 5k deposit is maintained its practically fee less.

Even with credit cards, Scotia keeps pestering me to take one with them however their annual fees range from $400 - $600 per annum. FCB's is $145 so that's the one I have.

[Redman]

Well wit he the deposit rates at 1
Prime around 8.....
A 700 basis point spread....is easy money.
And with loan volume increasing annually as are deposit volume....it means the banks are making enough to absorb this tax without passing on the cost.
Fact is that the lack of competition and the tolerance of the Banking cartel enables them to charge what they want.

Tax them again....they eh going nowhere

[SR]

Rbc is the worst when it comes to statements delivered on time and every time you question them they say is ttpost not them.

[uncle sam]

loan rates going up

them eh taking no cutbacks

this!

who ever glad the banks getting taxes must be stupid as hell.

[zoom rader]

Best keep your money home

[Duane 3NE 2NR]

Rbc is the worst when it comes to statements delivered on time and every time you question them they say is ttpost not them.

ask them to stop sending paper statements and use online banking instead