Courier charge

sparkNOW

Hello,
I just took out two loans from two different companies, both of which act through the Bank of Scotland, and I had to use their courier service.
One company charged £50 and the other £70 [!!] for the same courier service, which I think is exhorbitant!:mad:
Also, they used the same fellow for the courier - he arrived with two envelopes - so basically i was paying a second time for nothing.
Is there anything I can do?:rolleyes:

_Andy_

No - you chose that loan product and would have been aware of the fee.

sparkNOW

Thanks Andy.
I thought perhaps they're not entitled to chargeso much for a courier service than costs them a fraction of that [£70!!]

Apples2

I've never understood why people pay for couriers instead of a simple bank transfer.

If I can assume it was from a company with a focus on high risk borrowers (with an APR to suit), the £70 courier fee is completely insignificant compared to the amount being repaid over the loan term.

sparkNOW

Apples2 wrote: »

I've never understood why people pay for couriers instead of a simple bank transfer.

If I can assume it was from a company with a focus on high risk borrowers (with an APR to suit), the £70 courier fee is completely insignificant compared to the amount being repaid over the loan term.

Hi apples,
Thank you for your post. Very true on both points. However, they said that they only do a BAC transaction and as I needed the money 'yesterday', I couldn't wait for that to clear.
As for yoursecond point, it is a relatively insignificant amount compared to the interest charged. [Actually in this case, one of the loans has an 8% APR .. not too high..] But again, in this instance, I hope to pay off the loan very soon, in which case the courier fee is higher than all the interest I willl have to pay.
I was rather questioning the fairness of their steep price.
Thank you again.

POSSETTE

i can also tell you that the chap who delivered it would only get around 15-20 of that figure...DH used to do it!

angelicmary85

When I had a loan with BOS I got the choice to accept the courier service but as I didn't want to pay £50 I refused. I sorted the loan out in the morning and the papers were in the post by the afternoon and arrived the next day anyway so I'm glad I didn't choose to pay!

sparkNOW

angelicmary85 wrote: »

When I had a loan with BOS I got the choice to accept the courier service but as I didn't want to pay £50 I refused. I sorted the loan out in the morning and the papers were in the post by the afternoon and arrived the next day anyway so I'm glad I didn't choose to pay!

wow, i wish i'd known that! so the whole thing is a rip-off

angelicmary85

sparkNOW wrote: »

wow, i wish i'd known that! so the whole thing is a rip-off

Well, I thought it was but there will be someone out there who's experience will have been different!

anotherpaul_2

sparkNOW wrote: »

wow, i wish i'd known that! so the whole thing is a rip-off

That rather depends on how critical the "needed it yesterday" was. There's no guarantee that first class post would arrive in one day. Of course, they could have offered royal mail special delivery.

sparkNOW

anotherpaul wrote: »

That rather depends on how critical the "needed it yesterday" was. There's no guarantee that first class post would arrive in one day. Of course, they could have offered royal mail special delivery.

Thank you Paul.
Is there any point in me making a fuss?