Opening bank accounts - do they want our money or not?

[Colin_P]

I am old enough to remember when banks were open from 9 o'clock to half past three, Monday to Friday.
There weren't any ATMs either. My wages were paid directly into the bank and there weren't any branches near where I worked. I had to take half-days off just to get my money.

I remember getting a little brown envelope every Friday afternoon with cash in it when I started.

A few years after I was the one responsible for driving round the various building sites on a Friday delivering those said same envelopes.

But also recall simply walking into a branch in the 80's to open an account, which took minutes when I went salaried and monthly paid. That was a culture shock, from weekly cash to monthly.

 

[colly]

I'm sure I read of someone on here being asked for ID when paying in a sum of cash.

I had something similar a couple of weeks ago when I went to pay a sum of cash into my wifes account. Not my local branch (because they have closed the local branch) but certainly the closest to where I live and in fact one I have had to use for the past 3 years. I stepped up, gave her the paying in book with the cash in (£2500) and she looked at me, looked at the cash, glanced sideways to another cashier, said something. The second cashier looked at me, stared hard (a bit like Paddington I guess) spoke quietly to the first cashier, who then proceeded to take the money and stamp the book. I mean it's a good amount but hardly international money laundering quantities.

I felt like a criminal, but what I want to know is........................................... how did they know it was me what done the blag??

 

[Kestevan]

I felt like a criminal, but what I want to know is........................................... how did they know it was me what done the blag??

I suspect it was the way you were dressed.........

 

[Pale Rider]

I was born in 1993 so this is really fascinating to me. How often did you go to get money? You must have taken out a lot each time?

I remember when atms were first introduced.

Quite an innovation, although the early ones didn't have a big capacity and often ran out, particularly at weekends.

Retailers frowned on cheques for small transactions, I can recall borrowing a few quid from friends/family to tide me over the weekend until the bank opened on Monday.

 

[keithmac]

I remember getting a little brown envelope every Friday afternoon with cash in it when I started.

A few years after I was the one responsible for driving round the various building sites on a Friday delivering those said same envelopes.

But also recall simply walking into a branch in the 80's to open an account, which took minutes when I went salaried and monthly paid. That was a culture shock, from weekly cash to monthly.

I still get brown envelopes on a Friday, a dieing breed it seems!.

 

[ColinJ]

I remember getting a little brown envelope every Friday afternoon with cash in it when I started.

It was Thursday afternoon at the factory where I used to work.

I remember noticing that a well-paid machinist used to carefully steam open his wage packet every week, extract the pay slip and a few £10 notes, and then he'd reseal it. Being a bit naive, I didn't realise what the score was. Eventually, my curiosity got the better of me so I asked him why he did that. He waved the wage packet at me and said "This is for my wife and kids ...", then waved the ten pound notes at me "... and this is my spending money". I asked him what his wife thought he did for spending money. He replied that she gave him spending money from the wage packet!

 

[steve50]

I was born in 1993 so this is really fascinating to me. How often did you go to get money? You must have taken out a lot each time?

I started work in 1974, my take home wage was £14.00 per week, out of that I gave my mum £7 board, the rest was mine to spend, I could buy twenty fags for 30pence, go out on the beer Saturday night and still have a couple of quid left on Monday morning, that was in the '70's.

Everyday goods prices 1982 compared to 2012

Price in 1982
Price in 2012
% change
Draught lager, per pint
73p
£3.18
336%
Bread, white loaf, sliced,
37p
£1.24
235%
Apples, per kilo
68p
£1.75
157%
Milk, pasteurised, per pint
20p
46p
130%
Sausages, per kg
£1.59
£4.40
177%
Butter, per 250g
50p
£1.38
176%
Carrots, per kg
35p
86p
146%
Sugar, per kg
44p
98p
123%
Coffee, instant, per 100g
97p
£2.68
176%
Eggs, per dozen
73p
£2.82
286%
Vehicle fuel, ultra low sulphur diesel, per litre
36p
£1.42
294%





Compared to assets...



Asset
Price in 1982
Price in 2012
% change
Detached house, UK average,
£45,211
£273,700
505%
Gold, troy ounce
£203
£1,096
439%

 

[keithmac]

I missed a trick, should have bought a house in my early 20's instead of going out drinking...

 

[keithmac]

I was born in 1993 so this is really fascinating to me. How often did you go to get money? You must have taken out a lot each time?

I left secondary school in 1993. Suddenly feeling a bit old..

 

[ColinJ]

I left secondary school in 1993. Suddenly feeling a bit old..

Pah - try leaving in 1974 after finishing your A-levels!

(There will be some REALLY old gits coming on now and saying that they finished in 1955, the year before I was born ... )

PS In keeping with what Steve said above ... I remember going out in 1974 with only £2. That was for bus fares, cigarettes, lots of beer, and a bag of chips on the way home!

 

[keithmac]

I think £15-£20 was my best for a nights drinking, nightclub and some food on the way home..

 

[dim]

keep your cash under your mattress

we inherited loads of cash (and properties from my late Aunt who lived in Greece)

money is stuck in a bank .... they have capital control ... i.e. you can only withdraw 420 euros a week but you have to withdraw it at the bank (no internet transactions) .... my daughter has over 300 000 euros in a bank in Greece and is well cheesed off as it's not worth flying to Athens (costs approx 130 euros for a return flight, plus 30 euros taxi fare from Athens airport, plus 30 euros back to the airport) .... just to withdraw 420 euros

we have a 4 bed flat in Athens so we don't pay for accomodation

USA is threatening Russia with war (latest breaking news) ..... banks in Germany are about to go bust, and the worlds stock markets are long overdue for a crash .... my advice .... keep your cash at home ... stick it in a bank and you may have problems withdrawing it (like we do)

 

[screenman]

First full time job was 1972 15p per hour, or £6 a week.

 

[classic33]

Two accounts opened in my name, by someone else. Same bank, different branches. Settle & Sowerby Bridge. £250,000 in cash in both cases.
Found out by chance, but the bank didn't think it was odd.

 

[Sandra6]

I had a major headache when we tried to open accounts for the children a couple of years ago.
Tried Barclays, they were happy to help as mr6 is a customer, but he just had to come in with the child, but not on a saturday , so that would've involved taking a day off. Tried my bank, Halifax, of course we'll make you an appointment in three months time!
Then there was the issue of ID. None of the children have any - birth certificates didn't cut it, and their passports had expired.
We finally wore them down in Natwest. They were actually super helpful and went to great lengths to verify we were all actual people.
The only problem was that they don't issue a bank book or card, or anything for that matter, to children under 11. The idea is that their account is linked to a parent's, but I didn't have one. So every time we went to get money out or put it in my youngest's account we had to explain how they could look up her account. In the end we made her a little card with the details on, laminated it and everything.
She's been upgraded to a debit card now, but as they never have more than their birthday or christmas money in the accounts that's not a problem for us.