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The Saga is ending

Luzern
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The Saga is ending

No, this is not on that SUBJECT, but the SAGA credit card. It ceases on 28 March, because agreement cannot be reached with Allied Irish Bank after discussions commenced last August. Someone over in MSE has claimed it's all about interchange fees, but am unconvinced that B....t doesn't feature somehow.

How much else is going to raise problems in our financial dealings with Ireland and our close ties?

No one has to agree with my opinion, but in the time I have left a miracle would be nice.
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Jonpe
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Re: The Saga is ending

Saga (UK) can just get their credit card services from a UK bank.  It's just a card with the Saga name and logo operated by a bank.  My current credit card was originally from a building society that was taken over by Abbey National, who in turn transferred their credit card business to MBNA, and now MBNA is about to become part of Lloyds.  So I've effectively had a credit card with four 'institutions' without lifting a finger.

Champnet
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Re: The Saga is ending

I seem to recall there is, or was, a third party involved between the Card User and the Bank..........

Jonpe
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Re: The Saga is ending

It's a bit like having a savings account with a supermarket chain; the account is actually with a 'traditional' bank but using the supermarket's branding.

Champnet
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Re: The Saga is ending

Sorry @Jonpe my failing memory was for a Debit card................

Luzern
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Re: The Saga is ending

A bit of rambling OT, but is today's SAGA the same as it was in the past. It has changed hands more than once in the past two decades, and my impression is of a more upmarket, commercial and hard nose operation than  previously.

If the demise of the card is not somehow Brexit linked, maybe they tried driving too hard a deal with the bank.

No one has to agree with my opinion, but in the time I have left a miracle would be nice.
nanotm
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Re: The Saga is ending

interbank fees have increased becasue the EU doesnt like to pay its bills, the various lenders have decided that if the central authority wont pay then every transaction will pay a fraction more until the 80 trillion debt mountain is down to zero (yes thats how much the EU has in debts)  

 

saga rightly points out its the banks problem not their customers the bank says "were broke so we cant fund it" for some reason saga didnt want to just move their stock pile somewhere else (likely due to new banking regulations about the size of hte deposits versus the loan book nobody else can take them on)  

so both nothing to do with brexit and everythign to do with it (what with one of the principle reasons for leaving being the EU's totalitarianism and blatant theft of private property for hte good of the whole) 

 

just because your paranoid doesn't mean they aren't out to get you
daveplus
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Re: The Saga is ending

@nanotm You say that "interbank fees have increased becasue the EU doesnt like to pay its bills"

Can you provide a reference for that?

Mav
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Re: The Saga is ending


@Luzern wrote:

A bit of rambling OT, but is today's SAGA the same as it was in the past. It has changed hands more than once in the past two decades, and my impression is of a more upmarket, commercial and hard nose operation than  previously.

That was my impression when I worked for them 2007/2008.


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