obtaining credit - insanity

pinkteapot

HSBC Premier - £500 overdraft arranged with an online application that took 2 minutes and the interest rate on it is 0%.

Might be worth posting on the bank accounts or loans boards instead - better advice on there about the best banks for overdrafts.

Generali

Orpheo wrote: »

Wait. The banks are private sector?

HSBC is.........................

Orpheo

Generali wrote: »

HSBC is.........................

I know.

bendix

Disappointing.

White Horse - your philosophy is predicated on personal responsibility. Seems you think it only applies to other people, in your opinion.

If yuo went overdrawn, tough. Stop whining and manage your finances better. If you don't like what the banks are doing, use your free market philosophy and take your custom elsewhere.

purch

.....and next time you go to see the Bank Manager, don't wear the KKK outfit :eek:

robin_banks

The_White_Horse wrote: »

I have an agreed overdraft with First Direct. Due to lots of movements of monies, I went over my agreed limit last month twice by £4.00 and 37p. This resulted in a £25 fee being incurred - which I was not happy about.

Therefore, as the movements will be continuing for the next few months at least, I thought I would increase my buffer zone by a hundred quid or so - to avoid any other fees being incurred.

You would think I asked them for a 500k mortgage, not 100 quid. Its insanity. they wanted to have a 15 minute interview - after 4 minutes I told them to f**k off - and that this was overly excessive for an additional 100 quid overdraft facility.

I have never ever come across this lunacy before.

If this is a sign of things to come, then the housing market will plummet.

I am actually shocked by it. I bet it costs the bank more in man hours and admin to arrange the stupid thing than the loan is worth!!!

!!!!less, irresponsible unauthorised borrowing is frowned upon at Chateau banks.

The_White_Horse

i don't think any of you have understood my point. I have plenty of money (in that bank actually) - it was simply that my usually stable direct debits fluctuated for various reasons. Therefore, that particular account went overdrawn by 4.00 and then again by 37p for less than 24 hours. I was charged a fee for the 37p offence - I wasn't happy. They are entitled to charge this fee. I am not arguing about that. I just said I wasn't happy. That is not the issue.

The issue is that in order to stop these problems from occurring again (being sensible) I decided to increase the buffer zone by 100 pounds of the realm. The issue is that I needed a 15 minute interview to accomplish this - which i think is OTT. considering they have lent me hundreds of thousands in the past and I have never missed a payment ever - and in fact OVERPAY each month.

Therefore, i didn't like their attitude and told them not to bother - and put my own money in there as a buffer zone - having to move it from other savings accounts.

Yes, it is there choice as to how they conduct their business - but all I am saying is, for a man of my means (of which they can see because a lot of it is in their bank) earning my salary (which is decent), a request for 100 quid should be granted instantly. Its not as if I want thousands of pounds worth of unsecured debt. I merely want a buffer to stop fees occurring when I accidentally go a few pence overdrawn.

the point is, they want you to go overdrawn, so they can charge more fees.

Nikel

The_White_Horse wrote: »

the point is, they want you to go overdrawn, so they can charge more fees.

Then beat them by not going over. I got !!!!ed off at going £4 over once by Natwest and got charge £60 for this horrible crime against humanity. I took out my £20k savings the next week. In the end you should just make sure you dont go over, at all.

robin_banks

The_White_Horse wrote: »

the point is, they want you to go overdrawn, so they can charge more fees.

Why should I as a consumer of banking services subsidise your reckless behaviour ?.

You exceeded an agreed level of borrowing you pay for it.

The_White_Horse

bendix wrote: »

Disappointing.

White Horse - your philosophy is predicated on personal responsibility. Seems you think it only applies to other people, in your opinion.

If yuo went overdrawn, tough. Stop whining and manage your finances better. If you don't like what the banks are doing, use your free market philosophy and take your custom elsewhere.

another person who fails to the see that one is entitled to complain about something.

the bank can do what it likes. if i like it, i will stay with them, if i don't, i will leave them (when it suits me). but, in the meantime, i am perfectly entitled to voice my opinion that a 15 minute interview for a lousy 100 quid is OTT and not acceptable. I will leave this bank. BUT I AM STILL ENTITLED TO COMPLAIN ABOUT THE PRACTICE.