HSBC and First Direct are the same !!!!!!!s.

smartiedriver_2

Mikhail wrote: »

Thirdly, most foreigners are quite solvent and it is not they who need credit

That's possibly the most ridiculous statement I have ever seen on these forums! :rotfl:

izools

smartiedriver wrote: »

That's possibly the most ridiculous statement I have ever seen on these forums! :rotfl:

Probably the same stock who also claim we're prejudiced against foreigners...

Mikhail

izools wrote: »

£1,000 Overdraft is not a credit facility? Of course it is. It's not your money, so it's credit. Duh.

It is most definitely NOT. It is a current account not a credit card, when you use a credit card you use the bank's money. When you use a debit card you use your money (if you are in credit), you don't need to use the overdraft. There is a legal difference; although, there are some similarities.

About the Magic ball.
So you think that banks accept everything you say as the truth? I guess the magic ball will be more reliable

Mikhail

smartiedriver wrote: »

Perfectly normal. They want to know about you before they accept you. As for the evening, perhaps you indicated on the application that daytime was inconvenient.

A bank account is available to anyone, with or without good credit, as there is always the option of a basic account. However, if you are unwilling to provide information to them, they may rightly be suspicious of what you are hiding.

In my opinion, if we stopped banging on about 'human rights' this country would be in a far better position!

I think if this country would stop banging on about 'human rights' this country would not exist as part of globally integrated economy.

Turtle

Mikhail wrote: »

It is most definitely NOT. It is a current account not a credit card, when you use a credit card you use the bank's money. When you use a debit card you use your money (if you are in credit), you don't need to use the overdraft. There is a legal difference; although, there are some similarities.

About the Magic ball.
So you think that banks accept everything you say as the truth? I guess the magic ball will be more reliable

Yes, it most definitely IS. Any facility where you are spending the bank's money is a CREDIT FACILITY. The fact it's not a credit card is completely immaterial.

YorkshireBoy

Hopefully this will help settle the argument...

http://www.google.co.uk/search?hl=en&biw=1259&bih=541&q=overdraft+facility+definition&oq=overdraft+facility+definition&aq=f&aqi=g1&aql=1&gs_sm=e&gs_upl=3279l3782l0l4083l3l3l0l1l1l0l270l537l2-2l2

nobby24

Mikhail, that sounds Russian? Well I will say your written English is very good, well done!

izools

Overdraft Facility. A British term for a revolving loan or collateral loan. With this facility, a limit usually is set on the amount that can be borrowed. The account holder can draw his account down to the pre- agreed amount. There is often no repayment schedule, and no interest has to be paid as long as loans and accrued interest do not exceed the agreed-upon borrowing limit. Normally the bank will hold easily- liquidated investments as collateral (stocks, bonds, mutual funds, etc.).

Ergo they wanted to know about your collateral, Mikhail.

Toe-Jam

]It is most definitely NOT. It is a current account not a credit card, when you use a credit card you use the bank's money.

An overdraft is a form of credit. It is not the same as a credit card , where in it is not regulated by the consumer credit act. But it IS a form of borrowing, there fore it is a form of credit. The argument that it is not a form of credit because it is not a credit card is naive , that would make a mortgage not a form of credit either.

meer53

An overdraft is a CREDIT facility, it's money which is there for you to use if you need it. You said that when you use a credit card you use the banks money. Whose money do you think the overdraft is then ? Yours ?