Few weeks ago I transfered £750 from a bank account in London (England) to a bank account in Italy.
The charge for the transfer was £13.
Unfortunately the Italian bank changed their IBAN number therefore about 10 days later the money came back to the account in England, but only £711.73 came back.
So banks legally stole £750 – £711.73 = £38.27 + the original £13 charge makes it £51.27.
Obviously I still need to send the money to Italy so I will have to pay another £13 making the total taken (so far) £64.27.
We all work very hard to earn our living, why do we have to let banks regularly rip us off, we all know is not “real money” that they are transferring is all virtual and computerized, yet it still takes days to transfer money from one bank to another.
Then to add insult to injury, we have to read the huge bonuses bankers cash in every year, i know is probably not related with the money banks steal us every day, but it is still annoying.