Appointment with bank

jackie_w

Hello,

Ive got an appointment with the bank tomorrow to review my current account & my overdraft (which I hardly use).

Im really really nervous about this (think its because of the debt I USED to be in & they scared the s##t out of me with the things they said).:eek:

Anyway, I just know they are going to try to get me to take out a loan with them. I currently have a loan at the moment, and its due to finish in Sept 2009, but, im saving to pay it off before then. Im afraid to say im a bit of a soft touch, and they will probably try to get me to change my account to an account where they charge me every month.

I think they might want to take my overdraft away too. Its currently at £1500, but, I hardly every use it, and if I do, I only usually go into it by about £200, and then im only overdrawn by a day or 2. I think they might take it away because there really not making any money from me.
Can I ask them to keep the overdraft facility because I really like it there incase of emergencies, and I would rather use that if im only going to be overdrawn for a couple of days, rather than take money out of my savings account.

I dont even know if this is the right board to post this on, so dont shoot me if its wrong.

Jackie

Crown

Hi Jackie,

They only thing you can really do is stand strong and make sure you do not except any deals that are NOT in your favour.

The cannot make you change the type of loan you have got or get you take another unless you agree to it and sign the forms. Even if you are a "soft touch" you know you do not want any further debt so dont get talked into it.

You seem to be able to live ok as you are and by the sounds of it your debt is under control so why would you want to put yourself into the line of fire?

Remember that the Bank is a Business and it is there Job to TRY and sell you products the same way a pushy salesman would try and sell you anything.

IF I was you I would go long and see what they have to say but dont just sit and let them dictate to you ask them what they can do for you!

Before going check your current loan rate and APR. check ifyou are paying any PPI and then if you want to and only if you want see if they can offer you a better rate than what you currently have. DO not borrow anymore but if you could shave a a year off the term of the loan and end up paying less wouldnt that be more useful as long as you could afford the monthly payments?

Also remember that you do not have to sign anything tomorrow and can say that you will get back to them. This gives you a chance to work out if it is in your favour.

Good luck with it and let us know how you get on either way

LewisC_2

Don't sign or agree to anything whilst you are there.

Oh, and if it's NatWest, don't even bother going.

SunderlandBlackCat

You don't have to go at all although if you decide not to go it's probably better to phone & cancel rather than just not show up.

If you decide to go, arm yourself with a list of your current debts, APR's & the approximate dates you will have each one paid off (might be worth popping into another couple of banks or building societies & picking up some account application forms on the way)

Don't accept anything from the bank unless it beats both the apr's & your current debt free date & even then don't sign anything while you're in the bank - tell them you're going to take it away get some quotes from other banks or moneysupermarket.com

Remember you dont have to accept any intimidation tactics - if you feel pressured then walk out.

Good Luck

jackie_w

Thanks everyone who replied.

Ive got a couple of store cards which have balances on them, but, they will be paid off by the end of April, and i current have an HP agreement for a suite (but its interest free), and then, there is my loan which finishes in September 2009. Its currently at 6.4%, but, im hoping to pay that off by next year.

I will see what they say, and take it from there.

Once again, thank you for replying.


Jackie

catewithers

Great advice already given - I'd just add that if they do manage to offer you something that looks like it might benefit you, if you consider yourself to be ab it of a soft touch, don't make any decisions there and then. Ask them to give you a copy of the literature and take it home with you to consider. Then post on here to get some advice about it!!

IF they try and pull that old trick of "No, i'm sorry if you don't sign up now the offer won't be available any longer." Then tell them that you're not interested. They won't hold out forever.

And don't worry about it - go in with the right mindset - you're the customer, they want your business. You don't have to give them anything.

Good luck.

Sus1e

Just image Martin is sat on your shoulder and telling you to say "No thank you" or "Can you give me the information to take away and read".

You never have to agree to anything there and then.

warburtonrichard

I had one of these last week with HSBC - I went armed with my own SOA (which puts me in the black at the end of the month even though my debts are fairly big), my snowball calculator, my plans for making the best of balance transfer interest, and a planned date for paying off my overdraft.
The girl was taken aback that I would be such a "structured person".
She did try to sell me some critical illness / accident cover and their willwriting service, but she is sending me info on this and I will make a call once it comes through.
It sounds to me like the bank WANTS to love you and make more money from you.
If it's HSBC - take a look at their screens (they are very open about this) - there is a "Value" indicator (one to five stars) and a "Potential" indicator (same) and a behaviour score. I asked openly about mine (I was 4* for value, and 5* for potential, with behaviour of 60, which is apparantly very good, and means I'd probably be accepted for just about anything I asked for, including a mortgage).
Don't forget - you're seeing a salesperson. They want you to buy things, so be calm and avoid impulse purchases like you do at Sainsbo's!
Warby
xx

beentherewornthetshirt

Firstly, I would hate to imagine Martin sitting on my shoulder.

Secondly, sorry but I am at a loss as to why you are actually going to see them. If they are trying to sell you something you don't want, don't go! Why take time out of your day?

Panicker_2

How did you get on?

LewisC_2

Panicker wrote: »

How did you get on?

As the OP said this morning...

Hello,

Ive got an appointment with the bank tomorrow