WE LIVE IN LITTLE BRITAIN - WHAT TO DO WHEN THE COMPUTER SAYS NO!?

I was excited to read Martins's recent newsletter and see the top interest rate via MBNA at 5.27%. - a trusted banking brand. I look after my Dads savings, with PoA, he is 94, poor eyesight and not got internet access, never had, and never wanted! I applied to MBNA for an account, on his behalf and shocked to find his application was rejected. The same happened another of the accounts on Martin's hot list. 
Why is a person who lives in a care home not allowed to enjoy a market-leading savings rate? 
I am in my late 50's and looking after elderly parents find this trend where those who don't have internet access or don't want it are unable to access products, services or pushed into in with no alternative. No option for telephone support. It's very sad and annoying......and I work in IT!! 
Anyone out there can offer me some advice on this, such as why someone with less than 24 months residence would be failed? Tks #computersaysno
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  • p00hsticks
    p00hsticks Posts: 12,751 Forumite
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    Why is a person who lives in a care home not allowed to enjoy a market-leading savings rate? 
    Having an elderly non-IT literate parent myself, I have a certain amount of sympathy for your situation, but I'm struggling to work out from your post exactly why the application was rejected. Is it because he has no internet access, because he lives in a care home or because he has moved in the last 24 months ? 

    As you say you work in IT yourself, you'll be well aware that, once the initial systems have been developed,   managing accounts online is considerably cheaper than providing customer support via phone or physical branches, so it makes business sense that savings institutions can offer better rates to those accounts that can be managed purely online. 
  • dunstonh
    dunstonh Posts: 116,231 Forumite
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    I was excited to read Martins's recent newsletter and see the top interest rate via MBNA at 5.27%. - a trusted banking brand. I look after my Dads savings, with PoA, he is 94, poor eyesight and not got internet access, never had, and never wanted! I applied to MBNA for an account, on his behalf and shocked to find his application was rejected. The same happened another of the accounts on Martin's hot list. 
    The top rate payers tend to be highly computerised and they do not really want the difficult cases that involve manual work.  If they had to cater more for those, it would increase their costs and result in a lower interest rate.

    I am in my late 50's and looking after elderly parents find this trend where those who don't have internet access or don't want it are unable to access products, services or pushed into in with no alternative. No option for telephone support. It's very sad and annoying......and I work in IT!! 
    As you work in IT, you should be able to understand that products and services built for app based distribution are aimed at people with connectivity.

    The minute you bring in staff and telephone support, the product stops being app based and becomes more generalist and the interest rates go down.

    Its a bit like buying a motorbike but then moaning it doesn't have 4 wheels.

    You know your parent's needs.  So, you just need to match the service you are after to match that.

    Anyone out there can offer me some advice on this, such as why someone with less than 24 months residence would be failed? 
    Typically less than 12 months is an issue.  24 months is not.   However, the issue is almost certainly due to the three main databases (equifax, Experian and dow jones) having no data on file that shows they live at that address.






    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Wheres_My_Cashback
    Wheres_My_Cashback Posts: 4,294 Forumite
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    No need to SHOUT !
  • 35har1old
    35har1old Posts: 1,074 Forumite
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    I was excited to read Martins's recent newsletter and see the top interest rate via MBNA at 5.27%. - a trusted banking brand. I look after my Dads savings, with PoA, he is 94, poor eyesight and not got internet access, never had, and never wanted! I applied to MBNA for an account, on his behalf and shocked to find his application was rejected. The same happened another of the accounts on Martin's hot list. 
    Why is a person who lives in a care home not allowed to enjoy a market-leading savings rate? 
    I am in my late 50's and looking after elderly parents find this trend where those who don't have internet access or don't want it are unable to access products, services or pushed into in with no alternative. No option for telephone support. It's very sad and annoying......and I work in IT!! 
    Anyone out there can offer me some advice on this, such as why someone with less than 24 months residence would be failed? Tks #computersaysno
    Once this account is open there is no online excess
  • eskbanker
    eskbanker Posts: 30,744 Forumite
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    35har1old said:
    Once this account is open there is no online excess
    ???

    Do you mean online access?
  • Thanks to all those who commented.
    The issue looks to be credit ref agency related. I do understand why companies are increasingly creating a customer journey that excludes the need (or option) for consumer communication. That the beauty of today tech, my issue is when folks don't have internet or don't want it, can be excluded from a range of products and services....i feel its borderline discrimination. While on my Monday man, why do supermarkets and many shops insist we have to self-scan, I prefer to see people employed and talk to a human.... my local Boots chemists just installed 6 self-scanners and 1 human station, unmanned - on a recent trip for my Dads things, paracetamol, something else didn't scan and the bag option didn't work - so a member of staff had to visit me at my scan station 3 times....the entire retail sector appears to be obsessed with removing people from the point of purchase.It a race to automation that will have serious implications for the school leavers of the 2020's...
  • Bigwheels1111
    Bigwheels1111 Posts: 2,351 Forumite
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    Before I moved in with my friend to care for them.
    I moved one of my minor bank accounts over to their address, One paypal account, one credit card etc.
    2 years later I moved in, took council 16 months to put me on the register.
    Buy had no issues from day one.
    I was prepared.
  • eskbanker
    eskbanker Posts: 30,744 Forumite
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    The issue looks to be credit ref agency related. 
    Was it clear during the application process that you were looking to open the account in your capacity as attorney, or were you just completing a form as if you were your father?  What is his address as far as ID verification is concerned, i.e. has it been updated with all relevant authorities?
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