Tuesday, November 22, 2011

Natwest has come out with a glossy magazine for its Private Banking Clients!

Dear Natwest Private Magazine:

I received my Autumn issue this week and it sickened me. 

Why on earth do you think it is within your remit as a bank to publish lifestyle magazines when I already pay too much to bank with you?  

I pay an exorbitant amount for the privilege of banking with you and I find your private banking services to be sorely lacking.  Please become competent in your core services before you branch out and use my money to pay people to create something I do not want and did not ask for - namely, this magazine.  

Problems that I have had for years with online access and setting up of accounts have not been addressed by the multiple fly-by-night “personal bankers” who do not return phone calls or e-mails.  I have concluded that this is because you do not pay them or train them adequately.  I have also concluded that if your personal bankers were to give truly good advice, the first advice would be to cease to bank at Natwest.    

You have chosen to spend money that could go into improving your services on some sort of lifestyle magazine.  Is this glossy celebration of consumerism supposed to make me feel better about your exorbitant fees?  The writing is insipid and uninspired and the advice tired and useless.  Why are you giving my money to these writers and photographers? I think it is because you want to distract the proles with pretty pictures while you mismanage our money and do not do what we ask.  

 

Yours,


Rachel Mariner

You can write to Natwest too at letters@natwestprivatemagazine.com 

6 comments:

  1. The Quran has some forthright views on Banks like Nat West; it states: "O you who believe! fear Allah and give up what remains of your demand for interest, if you are indeed believers. If you do it not, take notice of war from Allah and His Messenger: but if you repent you shall have your capital sums; deal not unjustly and ye shall not be dealt with unjustly." (Baqara, 2:278-279).[16]

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  2. Wow. That is powerful. Thank you for posting that.

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  3. The Quran calls this compound-interest 'RIBA'. RIBA-Banks like NatWest enjoy UK City-of-London [CoL] base as they know and lobby-to-ensure that theUK won't ever adopt E and join 'Euro-zone'.

    If the UK did this, all flight-capital in tax-havens webbed off CoL in £ [vide 'Treasure Islands' - Nicholas Shaxson] would be in an immediate accountability crisis.

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  4. Actually, in a stunning display of incompetence by Natwest, that e-mail address doesn't even work. You can write to them at NatWest Private Magazine, 136-142 Bramley Road London W10 6SR

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  5. Do you think the capital would go to Switzerland or Cayman islands, though? Does the GBP provide some special protection?

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  6. These are speculative thoughts but the UK appears to face impossible choices now: -

    [1] join the Euro-Zone to keep a seat at the table and help EZ not to collapse - but this would mean abandoning GBP in favour of adopting Euro and UK/CoL don't want that

    [2] don't join EZ and lose seat at the table where 'Eurobonds' now touted are step towards the European fiscal and political union neither of which UK/CoL want either

    [3] watch the EZ as a whole implode [whether as a member or not] because EZ country deficits that cannot be 'restructured' effectively collapse the currency

    [4] similarly watch the USD lose reserve-currency status and the US Economy AAA rating because their deficit can't be refinanced

    [5] face loss of GBP value, relative to climbing Chinese Remnimbi, as some version of points [1] and [2] above plays out

    [6] lose traffic for GBP/USD capital flight to GBP/USD tax-havens with loss of UK/CoL post-colonial dominance . . .

    Who can say? But things don't look good. And the War on Terror is made against those who War on the Error of RIBA.

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