Bank "Review"

dings

Hi all

Odd question, and not sure if I'm posting it in the right place, so forgive me if I'm not.

Had a call from my bank (Natwest) on Friday, wanting to do a review with me on the phone - would take around half an hour they say. Aimed at seeing if they could help me save some money. Have a loan with them (taken out 2nd half of last year), and very small overdraft facility and a couple of grand on a credit card (with another company). They say they do a review like this with all loan customers. All my payments are up to date, none missed, not gone over limits anywhere.

Questions:

- has anyone else had this?
- should I be worried in anyway (only thinking this as seen a couple of peoples posts about banks wanting to review their outgoings)?
- do I have to do this, or is it optional? They approached me, not the other way round. Worried if I say that I actually review things on my own regularly - which I do - they may suddenly turn round and say they want the whole loan paying off or something similar.

Any thoughts, comments, assistance welcome.

Cheers

Dings

ZTD

It's an attempt to sell you something.

My bank has stopped offering me them, because I always say no.

SunderlandBlackCat

For "review" read "Sales Opportunity" Usually an attempt to get you to consolidate all loans, overdrafts & credit cards etc into a single loan with them with lower monthly repayments but with a high interest rate & much longer repayment term.

hypno06

I wouldn't be worried about it too much - they will be trying to sell you something via this review - house insurance, new loan etc etc, but if you remain strong, you will be fine. I am sure you don't have to do it at all!

Just make sure you are happy you are speaking to Natwest. If in doubt, don't give them the answers to the security details, ring your branch and ask to speak to the person direct. Just in case someone is scamming you.

caenine

Hey, I had a review with my bank back in January. They did that over the phone, started off all very nice, then she said that i was in my overdraft, which at the time i was, and evey month it was getting reduced slightly and i explained that i was in the process of finally sorting out all my debts. She said 'well done for trying to sort things' then went into a sales pitch trying to seel me a consolidation loan! Needless to say i rejected the idea of one! (been there done that - got the tee shirt) But she sent me the forms for one anyway, again rejected. Simply shredded the application form.

1 week later i got anotehr call saying she hadnt heard anything from me, I told her the reason for this was that i didnt want a consolidation loan. She said ok but i wasnt using my overdraft correctly. I was in it for a couple of weeks at the end of every month. I said leave me alone for 6 months then by all means try offer me another loan.

3 months later i get another call, Told them i wanted a further 3 months to sort my self out. I now have no credit card with them, and my overdraft has been paid off. I have also opened another bank account else where. Just waiting for the final few things to be switched. I will then wait for my next 'review/sales pitch' from her and then tell her i am still not interested and wish to clsoe my account!

Dont worry about them wanting to review you, no doubt it will be like my call! Just a cheap excuse to sell you more options to get into debt!!!

dings

Thanks for the replies ladies and gents - set my mind at ease...

Will try and fob them off - can't really spare half an hour - too much work on, and really don't want to spare them that long at the weekend...

I will ask them directly if this is something I have to do, and if they say no, then be firm but polite with them.

Thanks again.

betti911

I had a similar type experience with a bank 'review' with RBS. They incorrectly tried to sell me this 'better' loan which in actual fact I wasn't eligable for. I always say no when they offer me anything like that now.

jcr16

i bank with natwest . and we have annual review's with them. they can't really offer us much , as we don't want to take on any credit or get into debt. but last review they told us about a new saving account they do . and for us it is perfect . so were really glad we kept up with having annual review's.

Ytaya

If you don't want calls like this in the future, you can write to your bank and ask not to be contacted by any medium for marketing purposes. So they won't be able to write to you or call you for this kind of 'review'. My bank haven't called me since I did this

dings

Hi all

Thanks for all your comments on this.

Will tell them that i'm in the process of trying to move jobs, and that it would be better to put off such a review until I know what my new salary is...

Thanks again.

Dings

Donedoingdebt

You don't have to make excuses. Just say no thanks to everything they ask you to do & then put the phone down if they persist. This, for them, is purely a sales opportunity.