[BNM] [BMN][OT] Banks etc

[Alex Studd]

It's unlikely that any bank will ever do anything for you based on the 
relationship you have with them. What you can't see behind the scenes is 
that whenever you ask for a temporary overdraft extention or a loan they 
will check against your score on their system. Therefore going to 
another bank won't alter your ability to get such service unless you 
have a particularly high or low score with your bank, of course they 
won't tell you what your score is. Of course if you do have or have had 
loans overdrafts etc then you may be on their list of people for whom 
they will provide these services. It would probably still be worth 
looking around to see what other banks will offer you though, the 
Alliance and Leicester have a particularly atractive current account 
that i'm considering and they and many other banks will match whatever 
your current provider offers. So here's a scenario; approach your bank 
and ask for the maximum OD you can envisage needing, they ok it, you got 
to let's say A&L and get a matching account, sue your bank and move lock 
stock and barrel to A&L with the same as your old bank offered but 
cheaper and don't use the services unless you need them, realising that 
once you have been ioffered such services you should be able to get them 
again whenever you do need them. Best bet is to look at 
www.moneysupermarket.co.uk

--
Alex Studd
www.moving-edge.net
0845 345 5763

Alan Newman wrote:
> Hi,
> 
> It's more the relationship for me, rather than the "fear" of having the
> account closed.
> 
> You know the ability to extend an overdraft at will - of raise a loan to
> avoid other troubles. Going to a new bank or souring the relationship does
> not help. However I appreciate that the collective "we" should be beholden
> to "them"....
> 
> - Alan
> 
> 
> -----Original Message-----
> From: Nick Wilsdon [mailto:n.wilsdon at e3internet.com]
> Sent: 14 August 2006 14:10
> To: 'Brighton New Media'
> Subject: Re: [BNM] [BMN][OT] Banks etc
> 
> 
>>>> Great work in getting the money back! I have heard that people have
> had their accounts closed after taking this action though.
> 
>>From the FAQ page of their forum Alan:
> 
> Many people have asked if the banks will close there account, as well as
> will they close my mortgage, or loan account that they have with the same
> bank.
> 
> CURRENT ACCOUNT
> The banks do have the authority to close the account that you are claiming
> against on what they see as an unworkable relationship. However in practice
> there are very few instances of this happening, this is not to say they wont
> escalate this.
> we always advice that people open what we call a parachute account with
> another bank, just in case they do close your account (better safe than
> sorry), most if not all banks will offer a basic account to people with
> credit problems, and for others they will open up a like for like account,
> so it is a simple swap over.
> 
> LOANS OR MORTGAGE
> As far as closing other accounts such as mortgage or loan that is held with
> the same bank then they simply cannot close these accounts as they are on
> separate contracts, and if anything will persuade the bank not to close the
> current account you are claiming on, as they will have no definite form of
> payment.
> 
> if you are claiming against a mortgage or loan, it is highly unlikely the
> banks will call in the loans as this would get very messy for them in
> respect of ever getting paid back and if they wanted to take this to court
> then you would more than likely only be ordered to pay back so much per
> month, and probably less then they are getting by leaving the loan or
> mortgage intact in the first place.
> 
> Banks work on losses and risk, if there is a chance they will lose they will
> back off if it is cheaper or more profitable to leave well alone they will
> do just that
> 
> http://www.penaltycharges.co.uk/forum.htm
> 
> HTH
> 
> Best Regards,
> 
> Nick
> 
> Managing Director
> e3internet
> http://www.e3internet.com
> 
> 
> 
> 
> 
> 
> 
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