How to kill the zombie banks!


#1

Okay - the way to kill the NAMA banks.

Diversify as much as possible from NAMA to non-NAMA banks for savings and current accounts.

The key to this is Permanent TSB - it’s both a non-NAMA, a clearing bank and a mortgage lender.

NAMA banks
Allied Irish Bank, Bank of Ireland, Anglo Irish Bank, INBS, EBS

Non-NAMA banks
Permanent TSB, Ulster Bank, RaboBank, KBC, National Irish Bank, Bank of Scotland (Ireland), Halifax, Keytrade, Investec Bank, Nationwide UK (Ireland), (Any others?)

If you’re on a tracker in a NAMA bank then do your patriotic duty and keep it!


#2

Halifax is gone isn’t it?


#3

According to it’s website It’s still doing corporate and commercial lending:
halifax.ie/

Corporate and commercial accounts have nothing to lose at the moment by moving from one of the toxic NAMA banks as there is no customer relationship.


#4

Apart from a few Guinness tokens my savings all went to Rabo Direct a good while back. BD


#5

Keytrade bank…

Mind you, I still haven’t figured out how to transfer money into it!


#6

Lenny breaks out the recapitalisation cheque book one more time!

He’s writing cheques your body can’t cash! :stuck_out_tongue:


#7

I think you’ll find that is a significant flaw in the business model of a bank.


#8

Nationwide UK for savings.


#9

Found it! The IBAN and BIC were hidden under a button off-screen on my browser! :blush:


#10

Okay, added them to the list.


#11

Non -Nama
Investec Bank for Deposit money and pension deposits etc.


#12

Brilliant!

Done! Added links for them as well


#13

Whoops! Didn’t realise they had an Irish presence.

Added.


#14

I fully endorse this idea!


#15

Perhaps it’s my now melot soaked brain, but this sounds like a fantastic idea! It gives some power back to the citizenry and throws an extended finger or two into the face of those who lead us down this path.

Euthanise the banks! The PropertyPin - Brining the suffocating pillow of comfort and fiscal release to our lenders, freeing them from the evil grip of the governments lingering, artificially induced life support.

Perhaps there should be a facebook page, with tips on how to switch!

8DD

Blue Horseshoe XD


#16

https://i641.photobucket.com/albums/uu137/barname/StandUPposter.jpg


#17

Surely if we take our money out of these banks then they will just need more capitalisation? Or am I missing something here?


#18

The NAMA banks are bust.

Their new business plan is to offer sweet fuck all for deposits, bleed the standard variable mortgages dry, foreclose on delinquents (undercutting NAMA as they do), ramp up charges on overdrafts, cheque cashing, late fees, etc. NAMA banks will be the banks of tricks and traps - every which way they can gouge you they will.

This alone should be reason enough to not do business with them.

As long as Langer Lenihan keeps making the case of “no need for full nationalisation” then the NAMA banks only really exist to buy government debt. The more they get recapitsalised the closer they get to full nationalisation. Full nationalisation means they get covered by EU state aid rules. No more government debt bullshit.

If they lose customer accounts to competitors then they lose market share. The more they lose customers the more their share price tanks. The more the share price tanks the cheaper it gets to recapitalise them. The more customers migrate from the NAMA banks the more opportunity there is for others in the market to offer competitive products. Anything they offer can’t but be more competitive than the gouging from the NAMA zombies.

No one makes you bank with the NAMA vampires.

Your money. Your voice.


#19

If a big enough run started then the banks could become too big to save.

NAMA stretches the Irish taxpayer to the absolute limit possible. Debt slaves.

Push it a bit further and the Governments hand is forced.


#20

So, just to be sure I understand: Customers transfer their money to the non-NAMA banks, the NAMA banks are nationalised as a result and then can no longer buy government debt because of the EU rules. At which point the government goes bankrupt.

Is this the plan?