Re: UK Bank Profits.
they have reached to this figure by apply silly policies that work only for them
ie, check clearance in 3-5 days while money is taken out of the payer on day first. and guess what, invested for 3-5 days imagine doing this with volume of check payments daily.?
other loophole even if you pay cash to pay your bil on last day, even if the card issued by same bank will take again some days to reach the account. so they will slap 25 - 30 pounds for late fee even you have paid on time :)