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Thread: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

  1. #16
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    Default Re: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

    Quote Originally Posted by Holly View Post
    At least with a bank, any bank, big or small, deposits are insured with the government up to €100,000.00 which was not the case with this shady outfit.
    It was a crazy idea from the beginning and anyone with an ounce of cop would have smelt a rat.
    I thought that too, when I first heard about it, but it has been running for over 40 years. When it started, most of its clients would not have had a bank account and would have been paid cash weekly. Whole families use it, as a tradition.

    There are people now who thought they had their bills covered to the end of the year who have nothing to pay them with.

  2. #17
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    Default Re: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

    Quote Originally Posted by Captain Con O'Sullivan View Post
    This is bizarre. Apparently this company had a property investment company within the group- which must have been raising money based on what cash it had in the group. Doesn't this mean they should have been licensed and regulated?

    How can something like this exist and not be regulated?
    Lets ask the former MoF





    "The land Coillte Teo is now selling for development was given to them by the State in 1988 to ensure that our woodlands were run commercially, not to enable them to sell the family silver to service bank loans".
    - Friends of the Irish Environment, 28.04.2003

  3. #18
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    Default Re: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

    Oh yeah. I remember now.
    Think National. Act Local. Oh- and superstition is just the dark matter of human history.

  4. #19
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    Default Re: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

    Well, when you consider that the IFSC isn't regulated....

  5. #20
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    Default Re: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

    People should stop direct debits (is that possible ?), RTE news said. Also mentioned that the Government should now look at regulating this type of business...

  6. #21
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    Default Re: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

    Quote Originally Posted by C. Flower View Post
    People should stop direct debits (is that possible ?), RTE news said. Also mentioned that the Government should now look at regulating this type of business...
    Day late $ short
    "The land Coillte Teo is now selling for development was given to them by the State in 1988 to ensure that our woodlands were run commercially, not to enable them to sell the family silver to service bank loans".
    - Friends of the Irish Environment, 28.04.2003

  7. #22
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    Default Re: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

    Quote Originally Posted by Holly View Post
    At least with a bank, any bank, big or small, deposits are insured with the government up to €100,000.00 which was not the case with this shady outfit.
    It was a crazy idea from the beginning and anyone with an ounce of cop would have smelt a rat.
    Well that's easy for you to say. I have some knowledge of this outfit and they provided a service to people who banks refused to service and, furthermore, who often didn't have the numeracy or literacy skills necessary to fully operate a bank account. It's often forgotten that as recently as 2000 functional illiteracy was at 23% for Irish adults. Reading bills, understanding changes, understanding terms and conditions, calculating how much to put aside to pay this bill this week and that bill next week etc, etc, were/are difficult tasks for most in that 23%. Far better to leave it to a nice man who collects some money every week or, better still, have your wages paid directly to a company like Home Payments who'll look after these things for you and look after your finances generally.

    It may surprise some people but banks are not interested in providing current accounts etc to people in low income brackets who they, the banks, know they won't be able to shake down for mortgages, car loans, credit cards, personal loans over forty to fifty years.

    Many who did indeed have 'cop on' trusted in the banks and are in the same nett position as those done over by Home Payments.

    The 'financial services' industry is a predatory entity ranging from door-to-door loansharks through to hedge funds. It's also bell curved with the vast majority of people interacting with those nice banks with all the warm fuzzy ads on the telly. Just as many of us have difficulty following the activities of hedge funds, its also difficult to conceive of the small fry financial predators who prey on the vulnerable.

    Whoever said ICTU should take over this shower is spot on.

  8. #23
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    Default Re: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

    Quote Originally Posted by CMK View Post
    Well that's easy for you to say. I have some knowledge of this outfit and they provided a service to people who banks refused to service and, furthermore, who often didn't have the numeracy or literacy skills necessary to fully operate a bank account. It's often forgotten that as recently as 2000 functional illiteracy was at 23% for Irish adults. Reading bills, understanding changes, understanding terms and conditions, calculating how much to put aside to pay this bill this week and that bill next week etc, etc, were/are difficult tasks for most in that 23%. Far better to leave it to a nice man who collects some money every week or, better still, have your wages paid directly to a company like Home Payments who'll look after these things for you and look after your finances generally.

    It may surprise some people but banks are not interested in providing current accounts etc to people in low income brackets who they, the banks, know they won't be able to shake down for mortgages, car loans, credit cards, personal loans over forty to fifty years.

    Many who did indeed have 'cop on' trusted in the banks and are in the same nett position as those done over by Home Payments.

    The 'financial services' industry is a predatory entity ranging from door-to-door loansharks through to hedge funds. It's also bell curved with the vast majority of people interacting with those nice banks with all the warm fuzzy ads on the telly. Just as many of us have difficulty following the activities of hedge funds, its also difficult to conceive of the small fry financial predators who prey on the vulnerable.

    Whoever said ICTU should take over this shower is spot on.
    Welcome, CMK, and thanks for that informative first post.

    It was myself said that ICTU should take it on and run it.

    It's a useful service and I'm sure it's one that a lot of TU members, as well as people who are retired or unemployed, would use.

    The only difficult question is, how in these very uncertain times, they would keep the deposits safe.

  9. #24
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    Default Re: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

    Quote Originally Posted by CMK View Post
    Well that's easy for you to say. I have some knowledge of this outfit and they provided a service to people who banks refused to service and, furthermore, who often didn't have the numeracy or literacy skills necessary to fully operate a bank account. It's often forgotten that as recently as 2000 functional illiteracy was at 23% for Irish adults. Reading bills, understanding changes, understanding terms and conditions, calculating how much to put aside to pay this bill this week and that bill next week etc, etc, were/are difficult tasks for most in that 23%. Far better to leave it to a nice man who collects some money every week or, better still, have your wages paid directly to a company like Home Payments who'll look after these things for you and look after your finances generally.

    It may surprise some people but banks are not interested in providing current accounts etc to people in low income brackets who they, the banks, know they won't be able to shake down for mortgages, car loans, credit cards, personal loans over forty to fifty years.

    Many who did indeed have 'cop on' trusted in the banks and are in the same nett position as those done over by Home Payments.

    The 'financial services' industry is a predatory entity ranging from door-to-door loansharks through to hedge funds. It's also bell curved with the vast majority of people interacting with those nice banks with all the warm fuzzy ads on the telly. Just as many of us have difficulty following the activities of hedge funds, its also difficult to conceive of the small fry financial predators who prey on the vulnerable.

    Whoever said ICTU should take over this shower is spot on.
    Fine first post CMK and welcome to the parish. I wouldn't agree though, with ICTU taking on this function. Partnership dragged the leadership of the trade union movement into all sorts of areas that had nothing to do with their core function. The upshot of that is that workers never got a fair shake in the boom and they have to bear the brunt of the bust. Unions ought to get back to their true purpose and forget the extras.

    For all the reasons you set out, there's a very real need for this type of service. Perhaps the Credit Unions might be best placed to provide it.

  10. #25
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    Default Re: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

    I hear, Home Payments used to be quite a decent outfit. The founder also brokered better insurance deals for his customers and people were quite happy, It was only when his offspring took over that things went downhill.
    Thus all which you call Sin, Destruction—in brief, Evil—that is my true element.

  11. #26
    Kev Bar Guest

    Default Re: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

    Quote Originally Posted by TotalMayhem View Post
    I hear, Home Payments used to be quite a decent outfit. The founder also brokered better insurance deals for his customers and people were quite happy, It was only when his offspring took over that things went downhill.
    Degeneration.

  12. #27
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    Default Re: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

    Quote Originally Posted by Holly View Post
    At least with a bank, any bank, big or small, deposits are insured with the government up to €100,000.00 which was not the case with this shady outfit.
    It was a crazy idea from the beginning and anyone with an ounce of cop would have smelt a rat.
    Crazy or not, there have been similar savings schemes for donkey's years.
    People regularly paid weekly money toward Christmas hampers, t.v. license, etc.
    In return they had the peace of mind that comes with not fearing the appearance of a bill or forking out for Christmas all in one go.
    It seems old and dated, but served a purpose.
    "This isn't working,
    My middle-brow f**ker"

  13. #28
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    Default Re: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

    Quote Originally Posted by Kev Bar View Post
    Degeneration.
    Combined with greed?

    I still puzzled by the property investments and the fact that they have not been "regulated" by the Financial Regulator? How is this possible?.
    Thus all which you call Sin, Destruction—in brief, Evil—that is my true element.

  14. #29
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    Default Re: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

    Quote Originally Posted by Holly View Post
    It was a crazy idea from the beginning and anyone with an ounce of cop would have smelt a rat.
    Its only a matter of time until life bites you in the ass, and when it does I hope you learn to empathise.

    Quote Originally Posted by CMK View Post
    Well that's easy for you to say. I have some knowledge of this outfit and they provided a service to people who banks refused to service and, furthermore, who often didn't have the numeracy or literacy skills necessary to fully operate a bank account. It's often forgotten that as recently as 2000 functional illiteracy was at 23% for Irish adults. Reading bills, understanding changes, understanding terms and conditions, calculating how much to put aside to pay this bill this week and that bill next week etc, etc, were/are difficult tasks for most in that 23%. Far better to leave it to a nice man who collects some money every week or, better still, have your wages paid directly to a company like Home Payments who'll look after these things for you and look after your finances generally.

    It may surprise some people but banks are not interested in providing current accounts etc to people in low income brackets who they, the banks, know they won't be able to shake down for mortgages, car loans, credit cards, personal loans over forty to fifty years.

    Many who did indeed have 'cop on' trusted in the banks and are in the same nett position as those done over by Home Payments.

    The 'financial services' industry is a predatory entity ranging from door-to-door loansharks through to hedge funds. It's also bell curved with the vast majority of people interacting with those nice banks with all the warm fuzzy ads on the telly. Just as many of us have difficulty following the activities of hedge funds, its also difficult to conceive of the small fry financial predators who prey on the vulnerable.

    Whoever said ICTU should take over this shower is spot on.
    Class post CMK! You know how to make an entry

  15. #30
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    Default Re: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

    Quote Originally Posted by Captain Con O'Sullivan View Post
    How can something like this exist and not be regulated?


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