Great 'Work in a bank? What should we know' Hunt

Dylanwing

We had better avoid you then! What about your colleagues, and more importantly, the computer? I wonder if Goldfish Card have very short memories?:cool:

harryhound

inmypocketnottheirs wrote: »

How long do banks hold a grudge?



By which I mean, after the six years statute of limitations, and old debts expire from the credit reference agencies, do banks maintain any records that may show debts older than six years?

Presumably you did not go bankrupt ? or do an IVA ?

I think I am still right in saying that if the debt relates to a land transaction (eg "handing the keys back" on a mortgage) the 6 years get doubled to 12?

Harry.

To get right off topic - back a couple of dozen years, a French president went on an official tour of Switzerland. He arrived in a particular canton and had an action slapped on him plus interest. The French paid up.
It appears that Napoleon marched through that part of Switzerland leaving behind a bouncing bill of exchange, for the expenses he had incurred.

SwingsNroundabouts

UK007BullDog wrote: »

Fraudsters will use any snippet of info to defraud the bank. The bank will find a way of getting the lost money back somehow which will NOT benefit the customers through higher fees and charges.

I am amazed at the many attempts the fraudsters do and the lengths they go through to get at other customers money.

The information posted by some of the posters here is in blatant breach of their contracts. There is nothing money saving about telling people how the system works.

They really want banking details, all they need do is check the bins outside...:rolleyes:

inmypocketnottheirs

harryhound wrote: »

Presumably you did not go bankrupt ? or do an IVA ?

I think I am still right in saying that if the debt relates to a land transaction (eg "handing the keys back" on a mortgage) the 6 years get doubled to 12?

No BR or IVA or DMP. Not property related. Just wondered if the bank hold information beyond the six year statutory limit.

smithja

It depends on the bank, LloydsTSB (it was with the TSB at the time) are still holding a £400 odd debt from a student overdraft for me on their computer systems that was incurred in the early 1990's and written of by sequestration 1997. I called to ask about something else, and they put me through to the collections department (either by mistake or something was flagged up) who asked me to pay it on the spot. Not to mention it is a criminal offence to attempt to obtain monies written off by bankruptcy it is also an offence under the Data Protection Act to be holding it at all, and in a format were they think it is still due to be paid. I am not picking on LloydsTSB I am sure they all do it, I have seen records on databases that should have been wiped off years ago. Comes down to whether or not they can be bother with the "data cleansing project" and the time and money this will cost, or if they actively want to keep the data to use in future should you try to become a customer again, after all they dont have to give much of a reason for declining an application, "you dont meet out criteria", is enough. I have also been asked to remove data from systems after a subject access request has come in and the manager does not want the customer to see what is there. James

PJHilder

smithja wrote: »

It depends on the bank, LloydsTSB (it was with the TSB at the time) are still holding a £400 odd debt from a student overdraft for me on their computer systems that was incurred in the early 1990's and written of by sequestration 1997. I called to ask about something else, and they put me through to the collections department (either by mistake or something was flagged up) who asked me to pay it on the spot. Not to mention it is a criminal offence to attempt to obtain monies written off by bankruptcy it is also an offence under the Data Protection Act to be holding it at all, and in a format were they think it is still due to be paid. I am not picking on LloydsTSB I am sure they all do it, I have seen records on databases that should have been wiped off years ago. Comes down to whether or not they can be bother with the "data cleansing project" and the time and money this will cost, or if they actively want to keep the data to use in future should you try to become a customer again, after all they dont have to give much of a reason for declining an application, "you dont meet out criteria", is enough. I have also been asked to remove data from systems after a subject access request has come in and the manager does not want the customer to see what is there. James

Hmm, I'm wondering if I've just falled foul of the same thing with Barclays. I just popped in to see about upgrading an old cash card account I haven't used since I opened an account with Citibank. Computer said 'No' was the response. When I asked does it do a full credit check I was told not at this point and it just goes by the questions I answered regarding employment etc. So I was a bit surprised to be turned down.

I did however get into some bother with Barclays back in 1998 when I attemped university for the first time. Ended up having £600 in overdraft handed over to a debt company. That was paid off years ago though.

Is it likely Barclays have a record of it and this is the real reason I was turned down?

inmypocketnottheirs

PJHilder wrote: »

Hmm, I'm wondering if I've just falled foul of the same thing with Barclays. I just popped in to see about upgrading an old cash card account I haven't used since I opened an account with Citibank. Computer said 'No' was the response. When I asked does it do a full credit check I was told not at this point and it just goes by the questions I answered regarding employment etc. So I was a bit surprised to be turned down.

I did however get into some bother with Barclays back in 1998 when I attemped university for the first time. Ended up having £600 in overdraft handed over to a debt company. That was paid off years ago though.

Is it likely Barclays have a record of it and this is the real reason I was turned down?

The only way you will find out is by getting a copy of your cerdit report from Experian and Equifax.

Kavanne

convenience101 wrote: »

After all, it is better to be aware that you can have a £10,000 overdraft for 6 months than a £10,000 loan over several years with all the associated fees.

But RBS loans are fliexible so it could work out cheaper to take out a £10000 and repay early than go ahead with a £10000 overdraft which will have an arrangement fee and charge a higher APR!!

mrmajika wrote: »

To avoid an early settlement fee on a loan, pay all but the last month's direct debit amount off. Overpayments are penalty free, but an early settlement fee applies if paying the loan off in full.

And Finally...

To stop a cheque that is lost / lost in post is free. To stop a cheque for any other reason there is a £10 charge.

True of Natwest/RBS too.

ThankYouAndEnjoy! wrote: »

We do however get 50% discount on gold/platinum account charges; those accounts with mobile phone/travel insurance attached to them

Natwest/RBS get it free I heard Barclays only offer 50% discount to employees too. I probably wouldn't bother getting one if I had to pay for it at all.

countrygirl84 wrote: »

As a NatWest employer, we get all loans at 5.2%APR, better credit card packages, higher savings rates, discount of mortgages, etc, etc. We have a very good package on discounts, etc. As well as a non-contributory final salary pension, medical benefits and a share save scheme.

5.2?! Have you not been on the employee bank site lately? Guess again. Correct about everything else though.

SpudGunner wrote: »

PPI (Loan/Overdraft/Barclaycard) - need to be observed discussing the payment protection and completing demands and need statements. As far as I am aware, we are the only bank that goes through the ppi properly and we have to make it clear that ppi is optional and that the decision as to if the loan is agreed is not affected by custs decision re ppi.

Excuse me!?!?!? We get in big trouble with misselling PPI. Customers are ALWAYS made aware it is optional and are ALWAYS told whether or not you take PPI, your loan application is not affected. Have you never heard of compliance? It's not just Barclays that have to do it!!

exel1966

PJHilder wrote: »

Hmm, I'm wondering if I've just falled foul of the same thing with Barclays. I just popped in to see about upgrading an old cash card account I haven't used since I opened an account with Citibank. Computer said 'No' was the response. When I asked does it do a full credit check I was told not at this point and it just goes by the questions I answered regarding employment etc. So I was a bit surprised to be turned down.

I did however get into some bother with Barclays back in 1998 when I attemped university for the first time. Ended up having £600 in overdraft handed over to a debt company. That was paid off years ago though.

Is it likely Barclays have a record of it and this is the real reason I was turned down?

Or it could be nothing to do with your external credit report, but based solely on your internal Barclays credit worthiness. Most of the major banks have their own internal 'scoring' systems based upon customer profile which are not related to any of the CRA so called credit ratings. These internal 'scores' are based upon number of accounts held,how long you've banked with them, amount of funds passing through each account and the regularity of those transactions, your past banking history etc etc. Maybe you should ask Barclays first as to what your internal rating is.

PJHilder

inmypocketnottheirs wrote: »

The only way you will find out is by getting a copy of your cerdit report from Experian and Equifax.

Oh i've checked that the past few years and it's not been on there for quite a while so I know it's not that.