It CAN be a good New Year!

There is much gloom abounding, often propagated by the Media.

As ever, the real solution is a whole lot simpler that the pundits ( or "experts") pretend.

First step: money must be made available for loans again. The Government, working with and through the Bank of England, must force this to happen, whatever it takes, whoevers toes they have to crush. It is a prerequisite for economic recovery.

Second step: the British Public who are still working - that's the vast majority of us, by the way - must show the confidence (the Dunkirk Spirit, if you like) to shout out a resounding "shut up!" to the peddlers of gloom. Every time a TV news item or newspaper article appears forecasting a "depression", please phone or write to complain. Bombard these serial destroyers of confidence with your message "get a life AND stop trying to ruin mine!".

Things get bad if we let them - they also get better if we make a positive effort to improve them.

It is in our hands. As usual, we Brits shall not fail!

Ron Delnevo

December 2008

Media Madness

The media's performance in the recent financial crisis has been, on the whole, pathetic.

Every step taken by the Government to correct matters has been greeted with either negativity or outright derision.

It is so easy for these Moaning Minnies - they have nothing to do but chatter endlessly to fill up airtime. It is on such occasions that the Public (that's you and me, by the way!) realise just how superficial the media can be.

So as we approach the Festive Season, it is three cheers for the Governments of the Western Economies. Taking the lead of the UK, they are all trying to do something about the massive problems we face.

Oh, and spare a thought for the Banking profession. Seldom has a fall from grace been so precipitous. One moment, they have the prestige of brain surgeons, the next their status is languishing somewhere south of used car salesmen.

Their road to recovery may be considerably longer than that of the Western Economies. To borrow the words of a Beatles song, a road that is "long and winding".

Of course, the way UK Bankers can start regaining respect is quite easy to understand. They need to start passing on the lower interest rates offered to them by the Bank of England, maintain lending to existing customers and to offer loans to growing new businesses. Three simple steps, doing what bankers do - or used to before the recent crisis.

Happy Holidays!

Ron Delnevo

November 2008

Bankers - or Are Barclays Bonkers?

Hard on the heels of Visa releasing statistics showing that, after participating in an extensive (and expensive) trial of contactless cards, 59% of the British Public (that's you and me by the way!) revealed that they still preferred cash, Barclays have announced they are spending £Millions promoting the self-same seemingly unloved technology.

You might wonder why Barclays are throwing away more money, especially after apparently recently narrowly escaping having to be rescued by the UK Government. Well, wonder no longer! The answer is obvious. Having, according to reports, blown away £Billions in the overseas toxic loan debacle, they clearly need to make some money nearer to home. The answer? The same one they have been touting since they launched Barclaycard around 40 years ago - get more plastic into the hands of the British Public. Plastic often means high interest for card users and high processing charges for retailers - an ideal way therefore of boosting bank profits!

Of course, plastic is also famous for melting. Those who overspend using cards know all about that. What they see melting are their hopes and dreams amid a heap of unpaid bills.

For "Contactless" some would say one can substitute the word "Merciless".

Frankly, I wouldn't argue with that assessment.

Ron Delnevo.

October 2008

Sold Short By Short Sellers

The latest financial crisis has highlighted the wonderfully profitable activities of those in the City who cause share prices to fall.

Wait a minute, I hear you say, don't you mean FORECAST share prices will fall?

NO , I DON'T!

These particular bottom-feeders are not satisfied with the relatively subtle art of forecasting. They want to cause favourable (for them) outcomes, not just forecast them.

And the power of these people to influence outcomes is immense.

Don't be fooled by their protestations, e.g. "we only controlled 3% of the HBOS shares". Their downward manipulation of share prices can cause a stampede. RIP the target company.

Interestingly, the Short Sellers do not even own the shares in which they trade. They simply borrow them from the Pension Funds which manage the Public's (that's you and me, by the way) retirement nest eggs. Having loaned the shares, the Pension Fund Managers then watch to see what the Short Sellers do (er, move the share price down, stupid!) and then rush to follow.

That explains why the HBOS share price went from over £2 to about 80p in a few minutes - Short Selling followed by a stampede of the Pension Fund Managers.

When the share price has fallen, the Short Sellers buy them back cheaply and return the now less valuable shares to the Pension Fund from which they were borrowed.

If that all sounds a little crazy, that's because the interests of many - the prospective pensioners in this case - are sold down the river to suit the ends of the small number of people who short sell for a living. They become multi-millionaires whilst everyone else, including an estimated 40000 redundant HBOS staff, move closer to the poverty line.

Let's hope the temporary ban that has now been imposed on short selling in Bank Shares is made permanent. This particular facet of the Free Market needs to be curbed whilst we still have have some semblance of a Capitalist economy left.

Ron Delnevo

September 2008

Leaving Team GB?

There has been quite a bit of publicity in the last few days about companies leaving Britain because of "high" corporate taxation.

When the facts are examined, it turns out Britain still has amongst the lowest corporate taxation in Europe but the Irish have slashed their company tax.

Ireland is a lovely country, but of late the economy has apparently been a little rocky. It's understandable therefore that they have taken the route of becoming a Tax Haven ( like some of the smaller Carribean islands) to try to kick start their finances.

Britain, of course, is NOT a tiny island. We remain one of the Worlds significant economic players and, as Team GB proved at the Olympics, a major force in EVERY aspect of activity on this planet.

On a personal level, I can tell you that I have travelled very extensively but never found anywhere better to live than Britain. Most Russian Oligarchs seem to agree with me because they have moved over here in their droves!

So my message to those that jump ship is quite straightforward: GOOD RIDDANCE - and wonderful Team GB won't miss you!

Ron Delnevo

August 2008

Talk Cheapens

Have you ever had the feeling that the British Public (that's you and me, by the way!) are being talked into a recession?

Whenever there is the slightest sign of a problem in the economy, some "Guru" emerges to gladden our hearts by announcing things will soon be much, much worse.

And because they say so, it generally comes to pass. No doubt all of these "experts" are products of fine Universities and their brain cells could probably fill the Grand Canyon to the brim. Still, it can't be right that such people get paid by the media purely to predict doom and gloom. When did you last see an expert wheeled out to tell us that everything is wonderful?

"Happiness Headlines" apparently don't induce people to read newpapers or switch on the television news. Odd, because we DO watch films like Mama Mia. In some ways it may be the worst movie ever made but certainly does one thing the experts can never achieve - IT LEAVES US FEELING GOOD!

Ron Delnevo

July 2008

ATM Signage

Since non bank ATM operators emerged in 1998 - we were the first - the ATM services enjoyed by the British Public (that's you and me, by the way!) have improved out of all recognition.

25000 ATMs in 1998: 65000 now. That growth has meant that instead of having to make special trips to bank branches to get cash, most of us have access to an ATM very near to our homes.

Yet, instead of having praise heaped on them for helping improve UK ATM service standards, non bank ATM operators have been singled out for very unfair treatment. This has culminated in Link, an organisation effectively controlled by the big financial institutions who are far removed from the sharp end of providing a decent public service, imposing ludicrous signage which covers non bank ATM screens with pricing messages.

The public didn't of course need or ask for this over-the-top signage. They knew what they were or were not paying.

Well of course no one at Bank Machine is going to be deflected from our exciting expansion by these signage excesses. Quite the opposite. In fact, we are looking to add as many ATMs to our network this year as we did last year, with our hundreds of Free-To-Use machines proving that we can operate ANY type of ATM more successfully than any other organisation in the UK.

In due course, Bank Machine will work with right-minded people in the ATM industry to free our screens up for useful public service announcements and advertising, rather than plastering them with price messages of no use to man or beast.

We have over 4 million reasons for believing what we do is appreciated by the people who really matter - because that's the number of customers we will have in July.

Ron Delnevo

June 2008

Chip and Pin

You may know that ATM operators in the UK have spent £millions recently upgrading ATMs so that they can read the Chips on the ATM Debit Cards issued by British Banks.

Since Chips cannot easily be copied by potential fraudsters, this investment by ATM operators has significantly decreased ATM fraud in the UK.

If all other countries follow the UKs example of introducing Chip and Pin technology, there will soon be no safe haven for card fraudsters.

Isn't it about time that Card Schemes, instead of wasting money on abortive advertising campaigns attempting to persuade us all that plastic is better than cash, put the same resourses into making Chip and Pin the norm in all countries?

Using ATMs frequently to make small cash withdrawals is by far and away the best means of safeguarding personal security. With the UK Public (that's you and me, by the way!) committed to cash as their primary purchasing tool, it's up to the Card Schemes to ensure that our favourite access points for cash - ATMs - are secure in whichever country we use them.

Ron Delnevo

May 2008

Real Cash

I have just been reading a report entitled "Europe Set To Lose Its War On Cash".

Now, you may have been happily unaware of such a conflict - but there has been one.

Card Issuers hate cash. To them it is a low profit, high cost method of payment. They much prefer card transactions - especially high interest credit card transactions.

The public (that's you and me, by the way!), on the other hand, much prefer cash. The most common word used to describe cash is "real" i.e. not plastic, not false, not likely to lead you into spending more than you have/can afford.

And for once, the public are winning the war. In Europe, including the UK, 85% of all transactions are still made using "real" cash.

Of course the card issuers will keep on trying - and they can afford to because they use the high profits they make from card users to fund advertising aimed at persuading us to use cards more! A virtuous circle - NOT!

Ron Delnevo

April 2008

ATMs - Soon Our Only Access To Cash

As anyone who has been to a bank recently will tell you, it's no fun...

Play the "count the window" game and you will find out why: there are always more windows than staff working at them.

A Director of a major High Street Bank recently told me, "We are not a public service". I couldn't disagree - service is not a word that describes what most major banks offer.

Within 5 Years, 80% of all cash used in the UK will be delivered by ATMs, as the Public (that's you and me, by the way!), refuse to queue at the "no service" bank branches.

All of us at Bank Machine are aware of our duty to fill the service-gap left by the high street banks.

That's why you will see more and more Bank Machine ATMs appearing where you need them - and that's almost everywhere!

Ron Delnevo

March 2008

Building Societies - A Far From Rocky Future!

Some people are dismayed that the Northern Rock is back in public ownership - but not me.

The truth is that the Northern Rock should have remained a Building Society in the first place. Its move to PLC status has turned out to be a disaster, with all the values that make Building Societies great seemingly forgotten.

There are still over fifty Building Societies in the UK, mostly doing their business quietly, efficiently, and most important of all, with the best interests of their members firmly as their top priority.

Savers are returning to the Building Societies in their thousands as they realise the value of the genuine security and peace of mind the Societies offer.

We should all welcome the resurgence of a movement that has served the British Public (that's you and me, by the way!) well for two centuries.

Ron Delnevo

February 2008

TESCO WON'T TAKE CHEQUES? CHECK IN AT WAITROSE!

Isn't the attitude of some retailers breathtaking? For instance, Tesco have just announced they will not not accept cheques from this month onwards. In these days of slowing retail sales, telling customers what they can or can't pay with is surely a high risk strategy?

Contrast the attitude of Tesco with that of Waitrose, the John Lewis Partnership-owned supermarket operator. Waitrose have made very clear that they will continue to accept cheques indefinitely.

It is both typical and heart-warming to see the Partnership again leading the way amongst major retailers by putting customer service first.

Last year John Lewis and Waitrose were voted the two best retailers in the UK. If they continue to to accept cheques, putting the customer first, their supremacy is unlikely to be challenged by retailers whose focus has strayed from providing a decent service to the British Public (that's you and me, by the way!).

Ron Delnevo

January 2008

A Question Of Independence?

Most of the statistics produced in relation to ATMs refer to the fact that there are currently around 26,000 "Independent" ATMs in the UK. This is generally viewed as meaning that the ATMs in question are not operated by a bank or building society.

All of us at Bank Machine are proud of our Independent status. It allows us to continue to concentrate 100% on running ATMs, which is of course something banks and building societies can never do.

Of course, statistics are sometimes tricky to interpret. In the case of those concerning cash machines, there is a little quirk that many thousands of ATMs habitually counted as being "independent" are actually operated by part of the Royal Bank of Scotland Group PLC (RBS).

RBS can be proud to operate so many ATMs, including thousands that charge the public to withdraw cash. It is traditional for High Street Banks to charge customers for all sorts of services and there is no logical reason for ATM services to be different in this respect.

Meantime, we at Bank Machine will go on proving that independence is more than just a word, remaining true to our mission to continually improve the level of ATM services offered to the UK Public (that's you and me, by the way!).

Ron Delnevo

December 2007

Keep The Banks In Cheque?

There is a desire amongst the major High Street Banks in the UK to replace the good old cheque with an electronic alternative.

Cheques have of course been used in declining numbers for some years. However, as recently as last year, 27 million individuals in the UK issued around 1000 million personal cheques. Hardly an unused service then!

There is of course no reason why cheques have to be used until hell freezes over. If the boffins at the Banks come up with something the UK Public (that's you and me by the way!) like better AND choose to use, that will be fine.

In the meantime, if you want to still have cheques for the foreseeable future, write more and force the Banks to keep them in use. As the saying goes, USE THEM OR LOSE THEM!

Ron Delnevo

November 2007

THE NATIONAL PAYMENTS PLAN - MAKE IT YOURS!

In the very near future, public consultation on the National Payments Plan will commence, with the objective of finalising the Plan during the first half of 2008.

There is a grave danger that the public will see this as an intellectual exercise, with no practical impact on their lives.

NOTHING COULD BE FURTHER FROM THE TRUTH.

The Plan could impact almost everything we do in our daily lives e.g.

• Will we have cheques in a few years time?
• Will we still have the same coins as we have now?
• Will cash use still be as easy as it is today?
• Will there we be common standards for contactless cards and mobile phone payment technology?

Etc, etc.

If the public don't make their wishes clear, we could end up with a Plan that suits Banks and Card Issuers but which deprives the rest of us of that most valuable asset - CHOICE.

So please don't waste this opportunity to play your part in the future of our country. Check out the UK Payments Council Website - AND MAKE YOUR VIEWS CLEAR BEFORE IT IS TOO LATE.

Ron Delnevo

October 2007

Northern Rocky?

Northern Rock customers have had their savings guaranteed by UK PLC - but it still looks like another former Building Society is about to disappear.

In the last millenium (and it seems like a 1000 years ago!) we were told it was "progress" to have the Abbey National, Halifax, Woolwich and Northern Rock - all great Building Societies - become PLCs. They would be bigger, stronger, better able to face up to the challenges ahead.

Sadly, rather than getting stronger and remaining independent, the first three have all been taken over by major banks - and the last is now hoping to suffer the same fate!

The Building Society movement has thankfully survived despite losing some members and most that remain are determined keep their current status, rather than becoming "snacks" for large Financial Institutions.

That's good news for their customers - and good news for UK PLC as further guarantees should not be required!

Ron Delnevo

September 2007

BANK PENALTY CHARGES - ARE THE CRITICS UNFAIR?

I don't often find myself in sympathy with banks, but I must confess I am leaning in that direction regarding the criticism they are suffering currently in relation to penalty charges.

Most of us have played the game, as youngsters, students (and sometimes even later in life!), of stretching our spending beyond our means. At such times, overdrafts and credit card limits are often ignored - and we are grateful if we are allowed to do so!

If we are honest, we would be forced to admit that we have always been aware of the penalties for disregarding credit limits - a higher rate of interest on our overdraft or a one-off charge added to our credit card bill.

Now some bank customers are claiming the charges are unfair. Quite frankly, this is nonsense. If we don't fancy paying, the solution is in our own hands: keep within agreed overdraft and credit card limits!

As a matter of fact, I believe that all bank services should carry a charge. So long as such charges are published, we, the banks customers, really can have nothing to complain about.

Rather than concerning themselves with published charges, those making complaints would do better to focus on the unpublicised cross-subsidisation so common in the banking sector.

In my own industry, for example, some banks and building societies make great play of not charging for ATM withdrawals. What they fail to mention is that such largesse means the cost of providing those withdrawals is subsidised by ALL bank customers, even those who rarely if ever use ATMs. Such subsidies are fundamentally unfair because they are hidden and unquantified.

So let's hear no more complaints about published bank charges - lets worry instead about the ones they don't make!

Ron Delnevo

August 2007

CONTACTLESS CARDS - ARE CARD ISSUERS LOSING CONTACT WITH REALITY?

Bank Machine will during August 2007 publish research that blows apart the case for "contactless" Debit Cards.

Full details will follow shortly, but just as a taster, I can today reveal that only 15% of those interviewed during the research said they were "very likely" to use a "contactless" card for purchases under £10, that amount being the maximum amount that can be approved initially without proper security e.g. a PIN, being used.

SO, SURPRISE, SURPRISE, 85% OF US (that's you and me, by the way!) ARE QUITE HAPPY TO GO ON USING CASH - YES, THAT SAME CASH THAT THE CARD ISSUERS KEEP TELLING US WE DON'T REALLY WANT ANY MORE!

This in turn has two further implications:-

Firstly, Retailers are being asked by Card Issuers to spend money on / give up counter space to accomodate this new equipment, EQUIPMENT THAT THE MAJORITY OF THE PUBLIC (that's you and me, by the way!) HAVE CLEARLY INDICATED THEY DO NOT WANT TO USE.

Secondly, no time will be saved in queues: IN FACT THERE ARE LIKELY TO BE FURTHER DELAYS, WITH THE FEW PEOPLE WHO DO TRY TO USE THESE NEW CARDS NOT BEING SURE HOW THEY WORK - OR EVEN WHETHER A PARTICULAR STORE ACCEPTS THEM.

The Card Issuers are planning for a launch of this "contactless" (£-less?) society in October this year. Thankfully for those who prefer the warm feeling that cash brings, it looks unlikely this particular "launch" will ever get off the ground. Never mind though: I am sure the Card Issuers and their sponsoring Banks will recover the wasted investment in the usual manner:

FROM THEIR CUSTOMERS (that's you and me, by the way!).

Ron Delnevo

July 2007

SMOKED OUT - OUR LACK OF CHOICE

As the ban comes into force in England, stopping smoking in enclosed public places from 1 July, it is timely to reflect on how little free choice exists in the UK today.

As a non-smoker myself, it might be thought obvious that I would favour the ban. However, whilst it is true that I do not enjoy smoke wafting over my food in restaurants, that fate somehow seems preferable to having yet another new "rule" added as to how we can choose to conduct our lives.

Choice is a very precious thing. Without it life is bland, a polystyrene tile, rather than a colourful mosaic.

Colour is a good starting point for any discourse on choice. When Henry Ford, the pioneering car manufacturer, told his potential customers, "You can have any colour of car so long as it is black", he laid bare the desire of most suppliers to limit choice. It is costly to let people choose, to give them alternatives. Why would any supplier choose to give options?

Of course, if the public had shown Mr Ford the door marked exit, it would have been a sharp lesson to all suppliers that customers have a right to choose. Sadly, that opportunity was lost as millions of black Fords were soon moving advertising sites for Henry's concept that "one fits all".

There are limits as to how lightly a customers right to chose can be taken. Gerald Ratner found that to his cost when giving the impression that a prawn sandwich from Marks and Spencer was somehow better value than an Engagement Ring from one of his Jewellery Shops. Unluckily for him, the public chose to agree and he soon used that exit door that Henry Ford had avoided.

And so to ATMs. When Bank Machine installed the very first Independent ATM in the UK in 1998, British Banks did not believe their customers deserved a choice. So they basically told their customers, "If you want cash, come to our Branches (the ones you can find amidst the Branch Closure Programmes), because that is just about the only place you will find an ATM".

In 1998, more than 75% of ATMs were at Bank Branches. Today, that figure stands at around 30%.

It is clear that Bank Machine started the process that has led to the British Public being offered a genuine choice as to where to get cash. Not, as some would have it, the choice between paying and not paying, because Bank Machine operates many free-to-use ATMs. No, the real choice is between doing what a Bank tells you to do - "come to our branch" - and doing what YOU choose to do, what suits YOUR convenience as a supposedly valued customer.

So as you stand in the hopefully small queue to use one of the 35000 new ATMs that have been installed since 1998, in your own way you are giving Henry Ford his answer: I DO HAVE THE RIGHT TO CHOOSE!

Oh, and by the way, if the ATM is outside, you can still smoke whilst waiting.

ISN'T CHOICE WONDERFUL!!

Ron Delnevo

June 2007

CARD CAPERS -
AND GOODBYE TO THE POUND!

It has just been announced by Financial-Institution owned APACS [which must stand for "Always Pushing A Cashless Society"] that whereas we - the British Public - had no Debit Cards in 1987 [were we so unhappy?], our wallets and purses are now stuffed with 68 million of these bits of plastic.

Personally, I rarely use my Debit Cards other than to take cash from ATMs but there is no doubt that they have their uses - it would be embarrassing when buying a new wallet if one couldn't fill all the "slots" available.

But of course, the Card Issuers aren't satisfied. Plastic makes them big money, primarily because with Plastic in our hands, all caution is thrown to the wind and "spend, spend, spend" become the three most important words in our dictionary. Cash, on the other hand, we tend to use more sparingly - handing over 5 £20 notes is somehow more mentally taxing than passing over that little bit of Plastic.

Sadly, the Card Issuers don't want us to have £20 notes - or, for that matter, notes of any description. They want cash to disappear completely. That's why, for example, Maestro are spending millions on advertising campaigns to convince us that cash is somehow old-fashioned [you know, like honesty in Financial Services Advertising] and even dirty.

Of course, we are not easily convinced. 75%+ of us tell everyone who will listen - which of course doesn't include the Card Issuers - that we want to use cash.

Horrified by the knowledge that they are losing the battle for the hearts and minds of we consumers, the Card Issuers are rushing ahead with "innovations". Having thoroughly tested the concept at the Royal Bank of Scotland Staff Canteen, their next trick is the "contactless card". Just wave it somewhere near the till and, hey presto, the bill is paid. Better still, get someone else nearby to wave THEIR cards and YOU won't have to pay at all. That will make up for the times you don't check what you are paying [waving goodbye to your hard-earned money] or when one of your children "borrow" the card to augment their pocket money. With no PIN number needed, it will be all so easy-and expensive!

And of course, we won't save any time with contactless cards. You will still have to stand in the queue, still have to hand over goods at the counter for bar-code readers to work, still have to wait for a receipt - and still have to carry cash in case the blessed card doesn't work. THAT'S PROGRESS FOR YOU!

If you don't want to forfeit the right to have cash, the answer is simple: USE IT OR LOSE IT! Tell the Card Issuers where to put their cards [I am not sure they will enjoy THAT contact] and keep hold of those nice £20 notes.

Oh yes, and save the Pound at the same time. Many protested a few years back that they did not want the Pound to be replaced by the Euro. If we let the Card Issuers take our cash away, the Pound will really have gone without a word of protest. The Euro [and the inflation that will go with it] as a unit of currency will then come in very quickly and what will it matter if we have already let them take our Pound from us by worshiping at their Plastic Altar?

This is the time for a big "NO" from the British Public -
"NO" TO MORE CARDS;
"NO" TO LOSING OUR POUND;
"NO" TO THE CREEPING EURO!

Ron Delnevo