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High Time for Banks to give Feedback

9-Apr-14
High Time for Banks to give Feedback

Last November, I received a charity bank fee proposal to change our arrangements, we believe. This is not good news, because free banking, we have enjoyed five years has been terminated. This is not just a small detail of the charity; its profit margins are always tight and sympathetic banks to establish a good relationship is essential.

When we founded the creative agency (or the New Deal’s mind, as it was then called), we are lucky, one of the most active supporters of our freedom to negotiate with Coutts Bank and Co. Yes, this is correct, bankers to the Queen. In the early days of this charity thing feels like a coup and a great help to our credibility. Over time, we had hoped to develop with Coutts, and pride itself on its support for the creative industries deeper relationship, but about corporate social responsibility and sponsorship discussions came to nothing. Although we are in the early work to help unemployed young people in the creative industries, in Coutts understand why no one seems to be particularly interested in the bank. Nevertheless, we are still grateful to free banking.

But the letter tells us that from now on, we will have to pay £ 150 a quarter full fee - small change, but a significant amount of our Coutts. In the letter explained that the reason for our existing arrangements, established in 2009, because we are a start-up business, but now the situation has changed. The creative agency has “established himself as a successful, sustainable social enterprise, has seen changes in the banking industry, we are required to review all of our special fee arrangements a significant amount." I have read several times before I realized that the bank really think our little, if successful, charities should now pay because the bank has experienced a bad time.

I wrote back suggesting, perhaps this is the time Coutts should consider supporting charities that help youth affected by the economic downturn. Coutts is the Royal Bank of Scotland Group, its catastrophic collapse in the 2008 financial crisis, part of the heart. Its initial relief that year the British taxpayer £ 37 billion to spend.

Three trustees of the charity, who happened to bank with Coutts, wrote to express their disappointment, we were given a stay of execution with our free bank extended to the end of 2014. A few months later, we finally have face- to-face meetings. According to reports, since the policy is to streamline and Coutts Bank will no longer be exempt through the free part of its charitable generosity process. Instead, there will be a charity; it wants to support a direct relationship. Therefore, we were asked to raise sponsorship proposal. We recommend Coutts may be ready to pocket a small number, in order to support the "This is it!” Series, we ran across the country to help people eager to enter the creative industries seminar activities. We waited ...... and waited.

Then, last month, we received the final brush-off: "While we support the goal of community involvement is part of our standards, our sponsorship strategy is often more focused on existing and potential private client relationships." In a further official statement, Coutts spokesman dull situation: “our standard practice is to charge our banking services - these costs are clearly communicated to customers and posted on our website.”

And still the banks do not know why people hate them. Labor’s plans to pay a windfall tax on youth employment program is a blunt instrument , but it is likely to have broad public support , because people think that banks should have a kick and young people deserve a break .

However, some industry insiders do it. HSBC is commendable to 25,000 invested £ 30 million more young men into work or training within the next three years through trusted prince seize 22 St Giles Trust and tomorrow's people.

Others are still licking their wounds, feeling sorry for myself. They should realize that the time has come to return.