banks think we are muppets

The banks think we are muppets waiting to be mugged for our money. And if any one takes up this offer they deserve all they get.
How can it be legal to send out an email with lies/dubious truths in it? where is the FSA when you need them??

""
Dear Mr M Uppet,

Cut loose from high bank charges and escape to our NEW Free Business Current Account today. No other bank offers you all this:
NEW! 6.26% AER* (variable) interest on the first £1,000 of your balance! The gross rate is guaranteed to track the Bank of England base rate at base +0.60% until June 2008. Balances over £1,000 will attract a rate of 0.10% AER (fixed).
6.26% AER (variable), 6.00% (variable) p.a. gross, on balances up to £1,000. Gross interest will track the Bank of England (BoE) base rate, at base +0.60% guaranteed until 30/06/08. After 30/06/08, the gross rate reverts to gross rate BoE base rate minus 2.00% on balances up to £1,000. 0.10% AER (fixed) on balances over £1,000. AER stands for Annual Equivalent Rate and illustrates what the rate would be if it was paid and compounded each year. Gross is the interest without deduction of tax. Interest is calculated daily and applied monthly.
**All we ask is that you pay a minimum of £1000# into your account each month otherwise you'll be charged £5 for that month only.
***Excludes CHAPS payments.
#Credit transfers from your other Alliance & Leicester accounts will not count towards the monthly credit requirement. Note: It is not possible to reply to this e-mail address

the frauds:-

• Free, subject to loads of hard to comply with conditions
• minimum credit of £1000 per month DOES NOT include transfers from other giro accounts, so don't trade with customers who ALSO bank with Giro.
• After 30/06/08, the gross rate reverts to gross rate BoE base rate minus 2.00%pa. on balances up to £1,000, and a generous 0.10% AER (fixed) on balances over £1,000. So if you have an avg balance of £10k in a year you earn £71.60. If you go to Scabby Notional Bank you would earn £100 (39% more)......
• Wow, and this IS the "best banking offer in UK" - i don't fink so guv.....
• After the first year they defraud you even more by switching you to Base Rate-2% on 1st £1k. c£21pa, so Abbey is then 400% better!!! .....And i haven't even got shares in Abbey
• They know full well that it is a complete shag changing business bank accounts, so once they have HOOKED you (see their own advert which has a hook on it!), you are likely to put up with them etc.

I am quite serious about setting up a bank to provide a proper service to long-suffering UK customers. Just need the £1m. for all the initial set-up stuff, and we r away.........