Do banks still understand the meaning of collateral?

meer53

I can't understand why you were declined the overdraft if you have regular payments of 10k going through your account. Maybe there's another reason for their decline ? Did you ask them ?

I agree temporary overdrafts on accounts every day, and if i could see decent activity on the account which backed up what you're saying, i can't see a reason to decline your request. Maybe something you've not mentioned ? If i decline an overdraft request i have to give the customer my reasons, something doesn't add up here.

opinions4u

Might be worth a DPA request to establish if the reason recoded for declining the overdraft is "complete and utter knob".

Just a thought.

innovate

opinions4u wrote: »

I was very disappointed when I went to HMV and discovered that they don't sell gramophones.

No wonder they're on their last legs.

What I want to know is why I MSE doesn't allow multiple "thanks' on same posts. Would have liked to give at least 10 thanks for the above.Suppose I'll just have to chuckle along until MSE introduce the multi-thanks feature

MoneySaverLog

RSL wrote: »

Nice savings list at the bottom of your posts. Can you identify which one of them made you over 7% tax free over the past 6 months?

My list is capital safe and not reliant on a metal that is overpriced and due for a fall at some point. However sharesave is showing a increase of 41%

RSL

meer53 wrote: »

I can't understand why you were declined the overdraft....

There used to be a £15-20k balance on the account with Lloyds but they then capped the upper limit on the vantage add-on to £5k and reduced the interest rate down to 3% so the balance kept in there was reduced to below 5k. There was no reason given by the young lady that held the meeting, and she could give no reason for the decision taken by whomever she phoned up. I have no idea of the contents of their conversation, so cannot comment what really happened.

I'm even more baffled by the hostile responces that have been made against me here. Do some of you make an effort to treat all new posters like this? I wonder if Mr Lewis feels proud hearing of such behaviour on his site?

innovate

antrobus wrote: »

And so the true agenda emerges.

Just another fractional-reserve-precious-metal-freak.

Bit of a sad state of affairs for the gold-bullion buffs when they have to resort to MSE to try and talk up the price of gold.

meer53

RSL wrote: »

I have no idea of the contents of their conversation, so cannot comment what really happened.

Why did you leave the branch without asking why ?

You've come on to a forum to moan about it, how about asking the people who made the decision ?

Thrugelmir

RSL wrote: »

There used to be a £15-20k balance on the account with Lloyds but they then capped the upper limit on the vantage add-on to £5k and reduced the interest rate down to 3% so the balance kept in there was reduced to below 5k.

Maintaining a bank balance demonstrates nothing. The oldest con tricks in the world rely on similar tactics. Draw the prey in and gain their confidence.

I could draw down on zero % credit cards and maintain a healthy bank balance. Would merely be an illusion.

The reason for the decline is simple. Just isn't worth the hassle to the bank in terms of profit. Your business activity as a customer doesn't warrant special treatment.

innovate

RSL wrote: »

There used to be a £15-20k balance on the account with Lloyds but they then capped the upper limit on the vantage add-on to £5k and reduced the interest rate down to 3% so the balance kept in there was reduced to below 5k.

Lloyds never paid more than 4% on more than £7K on Vantage accounts. They have varied their Vantage interest T&Cs, and very recently announced a promotional offer for Vantage accounts - - you can find details on the Lloyds website.

Anyway, you originally said you wouldn't want to keep more than about £5k in a single account, because you don't really have much faith in the banks. So where does the "£15-20k balance that used to be on the account" come from?

Do you actually know your facts about the Lloyds accounts (or any other accounts)?

RSL wrote: »

I'm even more baffled by the hostile responces that have been made against me here. Do some of you make an effort to treat all new posters like this? I wonder if Mr Lewis feels proud hearing of such behaviour on his site?

There have only been responses, no responces at all. If you wonder if Mr Lewis feels proud hearing of the responses your OP has received, you should ask him.

innovate

JuicyJesus wrote: »

This has to be a troll. Nobody could be stupid enough to think that a retail bank would accept a precious metal as security for an overdraft. Nobody could think a bank would do so for someone who just rocked up on their doorstep, with a relatively inactive account that they purposely don't keep any money in. Please, Jesus, let this be a troll.

I am 100% with you now, JuicyJesus, the OP has to be a troll