Thursday 13 November 2008
Do banks want our money?
One of my clients tends to have several hundred thousand pounds on deposit at any one time. I suggested that it might be a good idea to spread the cash around three banks instead of one. The Board agreed and back on Tuesday 4th I wrote to HSBC, Barclays, Nationwide and the Clydesdale to see what terms they could offer. So far only one bank has responded. The Clydesdale replied by phone the next day and sent a follow-up letter. There's been nothing from the other three. Do they need our money or are they totally incompetent?