It sounds like it's talking about accounts using physical passbooks.
> A Lloyds Banking Group spokesperson said it started talking to customers last year to help them get familiar with how accounts operate without passbooks ...
> Virgin Money told us it was in the process of removing passbook accounts from its range ... affected customers can typically keep the account they have and operate it as a statement-based account instead of using a physical passbook.
I wrote in thousands of passbooks in my time at a bank - they were truly a pain in the arse, but also a true artefact of old school ways.
High quality little things for sure, and a lot of history surrounding some of them, I’ve seen and written in books probably 100 years old.
The reason they’re a pain in the arse is the small size, both sides must be filled out which is awkward, and you have to enter the transaction through a computer anyway so it doubles the work, plus you feel shit for not having fantastic handwriting like 90% of the entries.
I know why people want to see their balance physically, but I feel people are holding onto a relic of their past due to financial illiteracy on a grand scale in the UK.
Did you work there many decades ago? Because here in India passbooks have had printer entry for at least 20-30 years give or take or more. And if there was an old passbook (that was designed for handwritten entries) it had to be replaced by a new passbook immediately (you could keep the old passbook but it would crossed/marked or something).
We had passbook printers, but their ribbons were quite poor and broke often so we ended up writing a lot of books. Joys of living in an old school market town!
If we had an old one we kept and destroyed it (but really, it was given back lol) - we’d hand copy and books that went wrong at renewal which was probably a weekly occurrence.
Just saying, I'm in the UK and I've never heard of a passbook, let alone been advertised one, _let alone_ have one. This doesn't come close to passing the sniff test.
My mom had passbook savings accounts from 1970 to the mid-1980s in New Hampshire. The 1980s were a time of tremendous turbulence in banking in New England, it didn't get as lurid as the Savings and Loan crisis got in other parts of the country but my family's bank changed its name several times as one went out of business and got merged with another.
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[ 5.0 ms ] story [ 38.0 ms ] thread> A Lloyds Banking Group spokesperson said it started talking to customers last year to help them get familiar with how accounts operate without passbooks ...
> Virgin Money told us it was in the process of removing passbook accounts from its range ... affected customers can typically keep the account they have and operate it as a statement-based account instead of using a physical passbook.
I’m genuinely amazed these are even still a thing at all!
I remember them from the 1980s in the UK!
High quality little things for sure, and a lot of history surrounding some of them, I’ve seen and written in books probably 100 years old.
The reason they’re a pain in the arse is the small size, both sides must be filled out which is awkward, and you have to enter the transaction through a computer anyway so it doubles the work, plus you feel shit for not having fantastic handwriting like 90% of the entries.
I know why people want to see their balance physically, but I feel people are holding onto a relic of their past due to financial illiteracy on a grand scale in the UK.
We had passbook printers, but their ribbons were quite poor and broke often so we ended up writing a lot of books. Joys of living in an old school market town!
If we had an old one we kept and destroyed it (but really, it was given back lol) - we’d hand copy and books that went wrong at renewal which was probably a weekly occurrence.
Britain ease barriers to housing production to end the cost-of-living crisis: https://www.mcsweeneys.net/articles/i-will-do-anything-to-en... and housing famine: https://thedeletedscenes.substack.com/p/the-housing-famine