Comments for The Philtheist http://pellowe.com.au by Dave Pellowe Sun, 26 Dec 2010 22:27:35 +0000 hourly 1 http://wordpress.org/?v=3.3.1 Comment on Questions Vs Answers by Dave Pellowe http://pellowe.com.au/2010/questions/#comment-5 Dave Pellowe Sun, 26 Dec 2010 22:27:35 +0000 http://pellowe.com.au/?p=1#comment-5 Another value to the Jewish perspective of Life as a circle and not a line, is that not only do we never arrive (in this life), but we never permanently fail, unless we stop moving forward or this life ends without relationship with the One True God. And so when we fall, we shouldn't see it as a failure, but a lesson on how to do better next time when we get to practice the knowledge we just acquired. :-) DJP Another value to the Jewish perspective of Life as a circle and not a line, is that not only do we never arrive (in this life), but we never permanently fail, unless we stop moving forward or this life ends without relationship with the One True God.

And so when we fall, we shouldn’t see it as a failure, but a lesson on how to do better next time when we get to practice the knowledge we just acquired.

:-) DJP

]]> Comment on Bank fees – out with the old, in with the new! by Dave Pellowe http://pellowe.com.au/2010/bank-fees/#comment-3 Dave Pellowe Tue, 26 Oct 2010 22:14:54 +0000 http://pellowe.com.au/?p=84#comment-3 Who gives a service provider the right to penalise service users, when there are no costs or negative impacts on the service provider? I don't work for NAB, but I do advocate great service and offers, and oppose price gouging. From NAB's site, "Almost all of your Internet Banking is free of charge..." Read the full details here (if you're interested, or if you run a major bank)! http://www.nab.com.au/wps/wcm/connect/nab/nab/home/personal_finance/12/2/5 Who gives a service provider the right to penalise service users, when there are no costs or negative impacts on the service provider?

I don’t work for NAB, but I do advocate great service and offers, and oppose price gouging. From NAB’s site, “Almost all of your Internet Banking is free of charge…” Read the full details here (if you’re interested, or if you run a major bank)!

http://www.nab.com.au/wps/wcm/connect/nab/nab/home/personal_finance/12/2/5

]]> Comment on Bank fees – out with the old, in with the new! by levorosz http://pellowe.com.au/2010/bank-fees/#comment-2 levorosz Tue, 26 Oct 2010 05:04:23 +0000 http://pellowe.com.au/?p=84#comment-2 Agree that from a consumer perspective, there appears to be disconnect between the crime and the punishment (what crime I hear you say). It's an electronic version of presenting a cheque with no funds sitting behind it...very bad. From a bank's perspective, I guess it's a way to discourage such practice going on...not very customer focussed though. I think most allow up to 6pm for you to place sufficient funds into the account prior to the rejection. Most value transfers don't occur till night-time, so the balance checking occurs then. Scheduled payments would appear to happen instantly as it would happen when the processing is occurring. I suspect that just like at the ATM, you have the choice of overdrawing your account at an interest rate (overdrawn account), the same should apply for your transaction account in electronic transfers. Perhaps it would be a great service for you to specify a maximum overdrawing limit (say $100) that you would be happy to pay interest for for the period of time it takes for you to fix up your account. In saying that, the overdrawing is up to a bank's discretion based upon how valued you are as a customer and your account conduct. This amount is an unknown and should never be relied upon. To do so, the only way is to pay for the "privileged" of a personal overdraft. Yes I do work for NAB and am very proud of these small steps that we're doing as an organisation to provide fair value. Definitely plenty more to do but a step in the right direction. On the flip-side, just have enough money in the account, or better yet, have a smart notification system when it appears you may not have enough cash in the account and request a backup source (banks need to do this). Full of ideas here!! Paypal do something similar with a backup source funds. My three cents Agree that from a consumer perspective, there appears to be disconnect between the crime and the punishment (what crime I hear you say). It’s an electronic version of presenting a cheque with no funds sitting behind it…very bad.

From a bank’s perspective, I guess it’s a way to discourage such practice going on…not very customer focussed though.

I think most allow up to 6pm for you to place sufficient funds into the account prior to the rejection. Most value transfers don’t occur till night-time, so the balance checking occurs then.

Scheduled payments would appear to happen instantly as it would happen when the processing is occurring.

I suspect that just like at the ATM, you have the choice of overdrawing your account at an interest rate (overdrawn account), the same should apply for your transaction account in electronic transfers. Perhaps it would be a great service for you to specify a maximum overdrawing limit (say $100) that you would be happy to pay interest for for the period of time it takes for you to fix up your account.

In saying that, the overdrawing is up to a bank’s discretion based upon how valued you are as a customer and your account conduct. This amount is an unknown and should never be relied upon. To do so, the only way is to pay for the “privileged” of a personal overdraft.

Yes I do work for NAB and am very proud of these small steps that we’re doing as an organisation to provide fair value. Definitely plenty more to do but a step in the right direction.

On the flip-side, just have enough money in the account, or better yet, have a smart notification system when it appears you may not have enough cash in the account and request a backup source (banks need to do this). Full of ideas here!!

Paypal do something similar with a backup source funds.

My three cents

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