Has MSE caused my overdraft rate to increase by 24%?

danthemoneysavingman

You can read the full details of the how, why and where in this document:
https://www.fca.org.uk/publication/consultation/cp18-42.pdf

and the final policy here:
https://www.fca.org.uk/publications/policy-statements/ps19-16-high-credit-review-overdrafts

Covers background, reasoning, responses to the consultation and what had to be done.

Single comparable pricing across all banks.
etc etc

Hope this helps the truly curious.

DJMC

FCA agree there should be specific allowed call times within the BCOB rules. Are passing it up the line.

FOS reckon I'll probably be offered £50 for the early call.

I'll push for the £100.

eskbanker

DJMC wrote: »

FCA agree there should be specific allowed call times within the BCOB rules. Are passing it up the line.

OK, so, playing along with the idea that you've spoken to both FCA and FOS about this, the former says there should be times specified, thereby accepting that they're not specified currently?

Did they say anything about reasonable times for automated alert texts as opposed to calls?

DJMC wrote: »

FOS reckon I'll probably be offered £50 for the early call.

Even though no rules have been broken?

abz88

eskbanker wrote: »

OK, so, playing along with the idea that you've spoken to both FCA and FOS about this, the former says there should be times specified, thereby accepting that they're not specified currently?

Did they say anything about reasonable times for automated alert texts as opposed to calls?

Even though no rules have been broken?

I now can't tell if this whole thread was a troll thread, or its just this part thats made up as OP hates being wrong.

COIAHLGW

I will wait patiently until the OP posts again about Nationwide writing to him about not wanting to do business in the future

born_again

DJMC wrote: »

Who is "we"? If you're in the FCA regulated world, and have been for a little time, you'll know you cannot contact customers before 9am or after 9pm on weekdays, or on a Sunday.
The difference with the Nationwide's 7.04am text was a) I had no prior warning they were going to send these "alerts"; b) They are FCA governed and so I DO have a right of redress; c) I'm aware that they are likely to be breaking FCA communication rules.

Totally regulated by FCA.
Management sanctioned that we can do it.

Contact is deemed to be by Phone by our management/legal/complaints. So we take it that they have run this past the FCA, Who are happy for a text to be sent.

Would love it if it worked in reverse & customers were not allowed to contact us out of the hours....
Would mean far less unsocial shifts :rotfl::T

Why are you so upset that they went you a text. Are other people aware that you are not happy.
Perhaps you should be taking your plaster to task for the unsocial hour of their text...

DJMC

abz88 wrote: »

I now can't tell if this whole thread was a troll thread, or its just this part thats made up as OP hates being wrong.

What's wrong with speaking to FCA & FOS?

It's not what you know...

DJMC

born_again wrote: »

Totally regulated by FCA.
Management sanctioned that we can do it.

Contact is deemed to be by Phone by our management/legal/complaints. So we take it that they have run this past the FCA, Who are happy for a text to be sent.

Would love it if it worked in reverse & customers were not allowed to contact us out of the hours....
Would mean far less unsocial shifts :rotfl::T

Why are you so upset that they went you a text. Are other people aware that you are not happy.
Perhaps you should be taking your plaster to task for the unsocial hour of their text...

Read the whole thread... I answered that one already.

Verityspinelli

Thrugelmir wrote: »

Which mortgage lender gave you that advice? Complete myth, always has been.....

I can’t imagine any mortgage lender has advised him on what a mortgage lender sees as good or bad, in fact you will never sit opposite the person who makes the decision to lend or not, maybe he was mistaken and meant a mortgage adviser and if you speak to 5 different advisers they’ll all tell you something different.

Verityspinelli

yksi wrote: »

Could you let the mortgage lenders know please? Getting an overdraft was their specific recommendation to me when advising how I could make myself look more attractive to mortgage lenders. But you seem to know more about what lenders want than the lenders themselves.

This was the quote I was looking for... about money lenders advising what money lenders want to see...