Banks - a serious question

[Ace]

Okay, no-one can answer this at the pub, so here goes.............
Assuming a bank that takes donations for the tsunami gets in total, a round figure of ?20m. Whilst it sits there, it accrues a hell of a lot of intrest. The bank duly hands over the ?20m donated, where does the intrest go? Does it get included with the handover of the ?20m or does it help line the banks coffers?

[mart]

I would hope the whole lot gets passed on. Good question though. I'll be asking my bank today.

Mart

[diplodocus]

let us know what they say, it will be an interesting one

[eduardo]

This story is in the Times so I have posted the link for you.

[Deuce Bigolo]

In my experience most non-profit organisations have accounts that are fee free but the trade off is low or non-existant interest rates.

The difference between this and what the bank will earn on the short term money market will always go to the bank.Thats how they make profits

Unless the spin doctors at the bank want to get some "feel good" publicity
I can't see them waiving this practice

cheers
B....OZ

[RetroDon]

Most banks can earn a return on their money of AT LEAST 30% per month, this is not widely known and never will be, for many obvious reasons. This is why they delight in tying money up for days....each day represent more profit, and it all adds up. This will apply to every transaction, from everyday High Street bank transactions to major league confidential interational trades, the money is invested in huge investments none of us will ever know about (it is not in their interests)

Whether or not they make money on this tsunami thing or any other charity donations will never be proved

[mart]

More conspiracy theories Retrodon?
You make me laugh (or is it weep?).
We can never prove you wrong because its all a BIG CONSPIRACY.

Mart

[Jonboy]

Retro, you are totally of the planet, 30 % per month bollocks. Listen the banks make huge amounts of profits, granted , but take the number of shares in issue it is peanuts per share. Look at the statistics.
HBOS Closing Price Earnings per share .673 pence Dividend 0.309 pence per share. So after paying the Shareholders a dividend they are left with 0.37 pence per share to cover everything else.HBOS is Capitilsed at 33.213 Bil and on your figures this would mean a profit of approc 99.00 billion now I believe the last profit OF 3.7 Bill it means the Auditors missed huge number of errant bookeeping entries. Retro you don't stack up

[Heathray]

Or the money goes to Indonesia, a country almost as corrupt as Nigeria and the regime buys several new Mercedes and millions of pounds of weapons.........

If 50% of this money goes to the Far East I will be surprised. I recall a massive earthquake in Italy in the 80s where the appeal money was gratefully received by the Mafia.

Some of the major charities spend millions a year on salaries and expensive offices.

Keep your money in this country instead of Thailand whose major industries consist of 1, flooding the West with drugs, 2, prostitution, 3 spreading HIV.