Be careful - halifax review account letter

natweststaffmember

I need to point out that jambosans like other bank workers on here are helpful and have helped especially when it comes to how their bank operates. I think I would be careful about biting the hand that is trying to help .

With regards to your post, thank you for explaining a bit more. I did get the impression it was something like NatWest moneysense which the post kinda indicates it is that sort of thing.

mum2one

Inactive wrote: »

Do you not have an off switch on your phone?

This is going to sound so stupid, as first I thought it was a dodgy call, so stayed on to get the info, then more annoyed, but it all stupidness didn't think of hanging up. In hindsight I would of put the phone down and told them where to stick it x

mum2one

jambosans wrote: »

Are you sure it wasn't Money Management? Their number is 08456 03 90 50, if that helps you identify them.

Money Management, just to explain (I have spoken with them myself), is a free impartial service provided to Halifax/ Bank of Scotland customers who may be heading into financial difficulties. Designed specifically for those not in arrears, but just need some suggestions to keep financially buoyant. They perform a sort of "financial review", going through your in-goings and out-goings and providing hints and tips (e.g. use petrolprices.com). At the end of the call they make a suggestion based on what you've answered on their set list of questions. They are by no means "sharks", and do not try to sell you HBOS products. Personally, although I declined their suggestion, was referred to Think Money for debt advice - who, although they sell products, will provide free advice. I choose my words carefully because Money Management do not advise you to do anything, they give you an automated suggestion based on the review they perform.

If the above sounds similar to what has happened with yourself, then, I think you've over-reacted, and are probably a bit miffed that Halifax have tried to give you some financial help. I say this because your post clearly suggests you went on the defensive when you found out someone was looking at your account. Remember, Halifax, as with any other bank, monitor your account conduct, and if they feel this intermediary step will help you avoid financial difficulties, then I see no harm in it.

I found my dealings with them relatively positive, however your colourful (quite literally) approach appears to be "it's my account, how dare they look, and even comment on it". Well, if you have a debt with a bank, it is very much their business how you manage your affairs, and I see little problem in a few suggestions that might save you some money.

It's obviously pretty hard to believe that a bank would ever help without some gain for themselves. Well call it managing risk, I'm not saying you are in financial trouble, I am merely suggesting, that, perhaps due to account conduct (e.g. always at overdraft limit, more out than in, etc.), Halifax want to limit the chance of you falling into arrears.

I apologise if you have spoken to someone else, but this does not sound like a debt management company as they would be demanding repayment on something. Also, please do not be offended by anything I have suggested because I do not know your financial situation, although would argue that letters like those are sent for a reason.

I'm pleased with ur thoughts, I know I have a overdraft, but if they had of explained at the start of the call who they were, what they were doing, and that they were representing the Halifax, I would of reacted differently, but as I'd had a fright on the Monday, thought my card had been cloned, and they were so pushy about the debt management side.

The company name didn't like money management, I freaked out that someone had got into my account, and was getting the info. To me it was a decitful way it was done.

I do look at the negative side, but yrs ago I had my bag stolen, everything went, bills got racked up and I had a fight and half to get everything cleared, I do come across possesive.

What annoyed me was as they had all my account info, theres no CSA going in, and I felt vunerable as he just wouldn't let the matter drop.
x

mum2one

esmerellda wrote: »

interested as have been looking at this Halifax/Think Money thing for a while - Before referring you to Think Money (from which they make a commission) did they mention Citizens advice or the consumer credit counselling service at all ?

For me personally the letter came from the bank offering me a financial review, which I didn't even bother dealing with, the company promoted thier financial company, when I mentioned CAB etc, they literally jumped down my throat and emotionally blackmailed saying its months before u get an appointment, we can do it now.
x

mum2one

deadthings wrote: »

I notice how Jambosans has been posting in quite a few threads telling people they are 'wrong' and Halifax is right.

I would agree if Halifax telephone, make sure you tell them you don't have time and just hang up.

Halifax at the moment are trying to get as much money from people as they can.

The people who are doing this calling for this 'Account review' are on a bonus for any they sign up. Like PPI and charges eventually the OFT will get involved and people will be given refunds. It just another charging bank scam like banks are always doing, and always having to pay back for.

As has been said. Ignore Jambosans, and spread the word on this forum about him, and spread the work about what Halifax are up to.

D.

A massive thank you, I was more annoyed and fuming as I hadn't asked for it.
I have wrote a letter to my branch complaining, but they have 8 weeks to reply, then I'll report it to the financial obsbunmen.

The thing someone will end up signing up and ending up worse off.