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Sainsbury's Loans - watch for the courier!
Just applied for a loan of 5k over a short period & tried sainsburys as I use them for their 0% CC :T
Got the loan ok, and at a decent rate of interest for what I need, but they do try & catch you out with their 'courier' service
Woman on phone ' we'll get our courier round tomorrow, sign the papers & the money is yours in 3 working days'
Me ' does that cost any extra?'
her ' ( pause) er, yes, but you pay nothing for a month on your loan, we just take a one off payment of £45 for the courier service then you start your loan the next month'
Me' and presumably I pay accrued interest on the month where I've not made a payment'
her 'er, yes'
Me' no thanks, just send the papers in the post'
her' well we dont like doing that, but its your choice. The papers could get stolen'
Me' I'll take a chance, thanks'
her ' ok then'
I think I'll become a courier - £45 per. customer..great job!
Got the loan ok, and at a decent rate of interest for what I need, but they do try & catch you out with their 'courier' service
Woman on phone ' we'll get our courier round tomorrow, sign the papers & the money is yours in 3 working days'
Me ' does that cost any extra?'
her ' ( pause) er, yes, but you pay nothing for a month on your loan, we just take a one off payment of £45 for the courier service then you start your loan the next month'
Me' and presumably I pay accrued interest on the month where I've not made a payment'
her 'er, yes'
Me' no thanks, just send the papers in the post'
her' well we dont like doing that, but its your choice. The papers could get stolen'
Me' I'll take a chance, thanks'
her ' ok then'
I think I'll become a courier - £45 per. customer..great job!
0
Comments
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A & L did something similar with my wife. They make it as unclear as possible that the courier service is a charged for OPTION. Absolute con.0
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Lloyds TSB are to introduce a courier service for telephone loans also shortly.
Not sure of any charges as yet though.Whilst my posts do not constitute financial advice, I am always, without fail, 100% right!
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Prosaic wrote:Just applied for a loan of 5k over a short period & tried sainsburys as I use them for their 0% CC :T
Got the loan ok, and at a decent rate of interest for what I need, but they do try & catch you out with their 'courier' service
Woman on phone ' we'll get our courier round tomorrow, sign the papers & the money is yours in 3 working days'
Me ' does that cost any extra?'
her ' ( pause) er, yes, but you pay nothing for a month on your loan, we just take a one off payment of £45 for the courier service then you start your loan the next month'
Me' and presumably I pay accrued interest on the month where I've not made a payment'
her 'er, yes'
Me' no thanks, just send the papers in the post'
her' well we dont like doing that, but its your choice. The papers could get stolen'
Me' I'll take a chance, thanks'
her ' ok then'
I think I'll become a courier - £45 per. customer..great job!
Don't become a courier, it really doesn't pay.
I have done this work before and the courier only actually gets around £15/£20 of the charge. The courier company ( someone like City Link ) will take the rest.....0 -
Sainburys Loans are actually done though Halifax Bank of Scotland (HBoS) and for most of their loan applications they *encourage* you to pay the courier fee. The same goes for AA Loans, Britannia and British Gas as they are all HBoS.0
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