Friday 9 December 2016

We should punish false gods for their costly mistakes

The Government may treat the financial institutions like gods, but we don't have to, writes a frustrated Carol Hunt

Published 15/08/2010 | 05:00

DOES anyone understand the gobbledygook that passes for language in financial institutions? I'm going to need a dictionary to translate when next I deal with any of the employees of these places. That's if I don't go completely la-la first.

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The reason? Well, as with all things concerning financial institutions, it's a long and ridiculously complicated story. But, as I feel it may strike a chord with a great many other victims who have been bamboozled by the unnecessarily complicated jargon our financial institutions indulge in, I will tell it as simply and quickly as possible.

Like many people shopping around for better deals in order to live out the recession, the other half and myself changed to a lower life assurance policy -- albeit with the same company, Irish Life and Permanent. Luckily our main account is with Permanent TSB, the banking arm of the insurance company, so little problem was envisaged. The husband called TSB and was informed that the old debit policy was cancelled and new one initiated. Simple.

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