Online Gambling transactions and their Chances of getting a loan from their bank?

brave inca

Sorry if This is posted in the wrong place but It relates to online gamblers getting loans from the bank.
I was planning on going on hollidays next week and have to pay for flights tomorow. I am depending on a loan from the bank for spending money.

I was looking to take out a loan on Monday.Before I go and ask for one I would like to no my chances of getting one. This will help me decide on how much to ask from the bank. My account is with Aib. First and foremost MY ACCOUNT HAS ALOT OF ONLINE GAMBLING TRANSACTIONS. I am currently working at the moment. I get paid about 1700 a month. The thing is, I currently have an overdraft with AIb worth 1300. How will this effect my chances of getting a loan? I was planning on getting a loan for around 600, Where I would pay 150 for the next four months to pay it off. At the moment my balance is in overdraft of -1300. I also have an account with Bank of Ireland which I never use. Would there be a better chance of me getting a loan from there? As my poker transactions are done with Aib.

Quick Summary - I am looking for a Loan next week for a holliday but because my bank history doesnt read too well and the fact that I have an overdraft of 1300, What are the chances of getting one?

Thanks in advance for any advice given!

newbie2

AIB - I would say slim to none. You already have an overdraft and now you want essentially another 30% on top of that. Your account has a history of gambling activity, i'm not sure that this would be looked upon in a good way.

I'd be inclned to chance the loan with BOI.

The other problem is I'm not sure how long it takes all the paper work to go through. i'm not sure a week is going to be long enough. Mind you i haven't borrowed money from the bank in that way for about 1o years.

GL

Pulsar Eagle

Let us know how you get on as i myself would be very interested in the outcome.
ps good luck with this.

brave inca

newbie2 wrote: »

AIB - I would say slim to none. You already have an overdraft and now you want essentially another 30% on top of that. Your account has a history of gambling activity, i'm not sure that this would be looked upon in a good way.

I'd be inclned to chance the loan with BOI.

The other problem is I'm not sure how long it takes all the paper work to go through. i'm not sure a week is going to be long enough. Mind you i haven't borrowed money from the bank in that way for about 1o years.

GL

Thanks, The only problem with My Bank of Ireland Account is that Ive never used it, since I opened it:eek:. My wages also go into my AIB account!

Anybody else have any opinions? Maybe someone who works in a bank!

Thanks

Rb

Unless you take out a sum regularly (weekly/monthly and something around the same figure), I'd say your chances are slim to none.

They look through the past 6 months account activity, how much you've got coming in/out, average balance etc.

Ace2007

Rb wrote: »

Unless you take out a sum regularly (weekly/monthly and something around the same figure), I'd say your chances are slim to none.

They look through the past 6 months account activity, how much you've got coming in/out, average balance etc.

but surely if u have a steady wage coming in every month - other transactions shouldn't matter?

Rb

Ace2007 wrote: »

but surely if u have a steady wage coming in every month - other transactions shouldn't matter?

That's the key though, you've got to have a steady wage coming in.

If you just take out bits as you need it or whatever, sporadic cashouts, I wouldn't say your chances are great at all.

brave inca

Ace2007 wrote: »

but surely if u have a steady wage coming in every month - other transactions shouldn't matter?

Thats what I was thinking. There is no problem that they will get the money back within the four months. 1300 is taking out of my wages every month from my overdraft. I still have my 1700 wages comming in. It doesnt mean 1300 is taken from my 1700 leaving me with just 400 to spend.


If they know they will get the money back (As when my wages come in to my AIB account, They can just take out what I owe them straight away)

Hopefully someone that works in a bank can come on and let us know my chances!

zuroph

apply for overdraft on the BOi account?

ollyk1

brave inca wrote: »

Sorry if This is posted in the wrong place but It relates to online gamblers getting loans from the bank.
I was planning on going on hollidays next week and have to pay for flights tomorow. I am depending on a loan from the bank for spending money.

I was looking to take out a loan on Monday.Before I go and ask for one I would like to no my chances of getting one. This will help me decide on how much to ask from the bank. My account is with Aib. First and foremost MY ACCOUNT HAS ALOT OF ONLINE GAMBLING TRANSACTIONS. I am currently working at the moment. I get paid about 1700 a month. The thing is, I currently have an overdraft with AIb worth 1300. How will this effect my chances of getting a loan? I was planning on getting a loan for around 600, Where I would pay 150 for the next four months to pay it off. At the moment my balance is in overdraft of -1300. I also have an account with Bank of Ireland which I never use. Would there be a better chance of me getting a loan from there? As my poker transactions are done with Aib.

Quick Summary - I am looking for a Loan next week for a holiday but because my bank history doesnt read too well and the fact that I have an overdraft of 1300, What are the chances of getting one?



Thanks in advance for any advice given!

Go in and ask for 2k. If some guy came in to me desperately seeking 600 with a -1300 overdraft and could only afford to repay €150 a month I'd be worried as a bank manager. Tell them you are looking to clear the overdraft and pay towards a car (or car insurance or something) and repay the personal loan over a year.

Is your overdraft authorized at that level on those earnings? :eek:

You do sound like you are having problems at the minute so in the long run I'd advise you to get some sensible advice and examine your outflows (check out askaboutmoney.com's money makeover forum).

Alternatively you could tap someone up at a casino if you are well known. Just ask them for a monkey and tell them you'll see them next week......:rolleyes: Don't ask me as I will refuse and deliberately offend you so that you don't ask again. I'm a cnut.

brave inca

I think this is the question that need to be answered.

My account is nearly always emptied very soon after I get paid. Should this have an effect of me getting my Loan?

The reason why I dont think it should is because as soon as I get paid they can take 150 out of my account straight away as soon as it hits my account. Measning they are guaranteed to have 150 off me every month.

brave inca

ollyk1 wrote: »

Tell them you are looking to clear the overdraft and pay towards a car (or car insurance or something) and repay the personal loan over a year.

That sounds like a plan. Ive never got a Loan out before. Could you explain the best way of approacing this when talking one on one with their staff. I am usually a bottler in situations like this. If I said I was paying towards a car or whatever would they not look for eveidence that your telling the truth?

Rb

Oh shíte, for some reason I thought you were living off poker money, seemed to miss the part that you actually work.

I've a ton of gambling transactions on my account and have never had a problem getting a loan.

ollyk1

brave inca wrote: »

That sounds like a plan. Ive never got a Loan out before. Could you explain the best way of approacing this when talking one on one with their staff. I am usually a bottler in situations like this. If I said I was paying towards a car or whatever would they not look for eveidence that your telling the truth?

Ring them and get approval over the phone for a start - since you seem to have trouble with bluffing!!

You fill in the form and tick the box saying its to buy stuff or pay for stuff. Personal loans don't get scrutinized too closely for small amounts. Putting it down as a holiday sounds bad when you already can't manage your finances as you are basically living off an overdraft and paying massive interest which tells me that your finances are in poor shape.

Tbh I'm not sure if I should be giving you advice as you sound like a guy who might go and ramp up the overdraft again and have a personal loan going as well and get yourself into an even bigger hole...

Am I getting the wrong end of the stick here?

zuroph

can you put off the holiday a while? doesnt sound like you can afford it TBH. what about expenses when u get there etc? in similar situation atm but wont go near loans again, its bad news.

brave inca

ollyk1 wrote: »

Ring them and get approval over the phone for a start - since you seem to have trouble with bluffing!!

You fill in the form and tick the box saying its to buy stuff or pay for stuff. Personal loans don't get scrutinized too closely for small amounts. Putting it down as a holiday sounds bad when you already can't manage your finances as you are basically living off an overdraft and paying massive interest which tells me that your finances are in poor shape.

Tbh I'm not sure if I should be giving you advice as you sound like a guy who might go and ramp up the overdraft again and have a personal loan going as well and get yourself into an even bigger hole...

Am I getting the wrong end of the stick here?

No I was in a car crash(Not my Car) a while back and I had to take out an Overdraft for it, Although I do play Poker alot and My account is nearly always empty.


Does this make sense?

If I ask to cancel my Overdraft for 1300 and then ask for a 2k loan. Do I owe the bank £3300 or £2000? I could pay 500 euro back in monthly installments and the Loan would be paid off in 4 months!

zuroph

if your account is empty every month, where is the 500 euro every month going to come from? TBH you should be doing this months ago before the holiday, and slowly clearing it.

ollyk1

brave inca wrote: »

No I was in a car crash(Not my Car) a while back and I had to take out an Overdraft for it, Although I do play Poker alot and My account is nearly always empty.


Does this make sense?

If I ask to cancel my Overdraft for 1300 and then ask for a 2k loan.I now owe the bank £3300 or £2000? I am 90% sure that the answer is 2000 but just making sure. I could pay 500 euro back in monthly installments and the Loan would be paid off in 4 months!

Well provided you paid off the overdraft with the loan monies you'd be stuck for only 2k to the banks and not paying nearly so much in interest as you currently are and it would give you a chance to sort yourself out following the crash.

Ring any of the banks over the phone it won't really matter who you have a bank account with. I believe Tesco are currently the cheapest for term loans btw so they might be worth a call. Make sure to pay off the overdraft though as your are effectively giving the bank free monies the way your are managing your finances at the minute.

brave inca

zuroph wrote: »

if your account is empty every month, where is the 500 euro every month going to come from? TBH you should be doing this months ago before the holiday, and slowly clearing it.

I get paid 1700 every month so they can take 500 out straight away before I get a chance to spend it.

ollyk1

zuroph wrote: »

if your account is empty every month, where is the 500 euro every month going to come from? TBH you should be doing this months ago before the holiday, and slowly clearing it.

Well I imagine that he gets paid at the start of the month and clears the OD and then slowly goes back into debt as the months progresses. If he got a personal loan he could get out from under the OD and have 1200 a month to live on and 500 a month to repay the loan.

You are 100% right in saying he should have addressed this ages before the holiday came up but then some people take an ostrich approach to dealing with their finances. Take our present government for example.

ollyk1

brave inca wrote: »

I get paid 1700 every month so they can take 500 out straight away before I get a chance to spend it.

The more you write the more I think you have a problem. Get some financial discipline in your life man!!

brave inca

Right so, this is the story story. I will go to the bank ask for a 2k loan and have my 1300 overdraft cancelled. This means I have 700 Euro Credit in my account next week. I pay baack 500 every month to pay off the 2k Loan. The loan is paid off in 2 months and I am once again a happy camper and I owe the bank nothing and everything is back to normall.

Does this all sound accurate or am I missing something?

zuutroy

Just a quick aside: Is there any way to get banks to accept poker as an income when it comes to applying for a mortgage?...just curious....

Irish_Nomad

brave inca wrote: »

Right so, this is the story story. I will go to the bank ask for a 2k loan and have my 1300 overdraft cancelled. This means I have 700 Euro Credit in my account next week. I pay baack 500 every month to pay off the 2k Loan. The loan is paid off in 2 months and I am once again a happy camper and I owe the bank nothing and everything is back to normall.

Does this all sound accurate or am I missing something?

How did you figure 2 months ? Paying 500 a month means you would need 4 months and a residual amount in the 5th month to clear 2k plus interest.

I get the impression your outgoings each month equal 1700. Is that right ?
If so cutting back by 30% is likely to be difficult especially since you're planning on heading off on holidays soon. I would have thought you'd be better off speading a loan over a longer period (6/9/12 months) so the repayments are lower. Even at 6 months the repayments would be something like 350-375 per month. Don't overestimate how much you can afford to repay each month or you could find yourself in trouble.

brave inca

Irish_Nomad wrote: »

How did you figure 2 months ? Paying 500 a month means you would need 4 months and a residual amount in the 5th month to clear 2k plus interest.

I get the impression your outgoings each month equal 1700. Is that right ?
If so cutting back by 30% is likely to be difficult especially since you're planning on heading off on holidays soon. I would have thought you'd be better off speading a loan over a longer period (6/9/12 months) so the repayments are lower. Even at 6 months the repayments would be something like 350-375 per month. Don't overestimate how much you can afford to repay each month or you could find yourself in trouble.

Thats sound advise! Ye I meant to say 4 months. Yes my income every month is 1700. Spreading it out over 10 months sounds like a better idea alright. The bank would be more inclined to take me on that way as they would be making more money out off me + it would suit me better financially.

Thats great advice though. Thanks!

Shadowless

zuutroy wrote: »

Just a quick aside: Is there any way to get banks to accept poker as an income when it comes to applying for a mortgage?...just curious....

2 years ago, perhaps. (they'd probably wink at you and call it rent a room money)

In the present climate, not a chance I'd say.

latenia

zuutroy wrote: »

Just a quick aside: Is there any way to get banks to accept poker as an income when it comes to applying for a mortgage?...just curious....

No chance. A way around this might be to get a cheque every month for a couple of years for the exact same amount from Paddy Power or Boyles eg E2456.25 so that it looks like a salary. Alternatively, put your winnings into a high-interest account to save for a deposit; by putting this towards the cost you'd be able to get a more expensive house and double the value of your winnings by not having to pay interest on this amount over 20 or 30 years.

oleras

A few things going against you, the first being you have no real credit history with any bank. the advice about looking for 2k is good.

NO bank is going to lend €600. Thats what CU are for. Or the guy up the road, and i would not go down that route either, His intrest would nearly be as high as a CU..lol

Your first priority seems to be to pay for your holiday, is there noone you could ask to borrow the money from for 4 months intrest free, friend/family ?

Get your holiday over and then sort out your bigger issue. Drop the overdraft, looks bad the fact you are maxed at the end of the month. Do this by getting a term loan for the 2k. 2 birds with 1 stone, pay off the OD and pay back the 600 and you have 100 left to throw away on cards.:D

You are going to need a history with the bank before they offer the likes of money for a car or house in the future. And the way things are going it will have to be a very very good history IMO.

Enjoy the holiday !

brave inca

oleras wrote: »

Your first priority seems to be to pay for your holiday, is there noone you could ask to borrow the money from for 4 months intrest free, friend/family ?


You are going to need a history with the bank before they offer the likes of money for a car or house in the future. And the way things are going it will have to be a very very good history IMO.

Enjoy the holiday !

To the first question. I would like to borrow off someone in case I did something stupid like spend it. Getting a loan is safer. The bank will take money off me as soon as I get paid.


To the second part. I dont understand that part where you said you need a history for future refererences. Is it not better to have never recieved a loan?

footballcrazy

This is the best thing to do. Open up an account with Hallifax. They are begging for customers and they would be delighted to take you on once your job is secure. Get a 2k loan off them. Pay off your AIB overdraft and you have 700 euro for yourself.

oleras

brave inca wrote: »

To the first question. I would like to borrow off someone in case I did something stupid like spend it. Getting a loan is safer. The bank will take money off me as soon as I get paid.


To the second part. I dont understand that part where you said you need a history for future refererences. Is it not better to have never recieved a loan?

A bank will run a credit check on you, the more loans you have had in the past and and frequency of repayments will be right in front of them. If they can see you started with say, 2k and paid it off in a year, 6 months later you borrow 12k over 3 years and pay that off without missing any payments. then you go to them looking for 250k for a house, you have a good chance of getting it, if you can meet the repayments. You have proved to the bank you are a good bet !

Now, be in OD every month, have no lending history with the institution and ask them for 250k....... im going all in with "FCUK OFF" as there reply..:D

Goodluck2me

some good advice dished out here. Try the biz>personal>investments and markets.

hotspur

Did Cardshark change his boards name?

zuroph

zuroph wrote: »

if your account is empty every month, where is the 500 euro every month going to come from? TBH you should be doing this months ago before the holiday, and slowly clearing it.

brave inca wrote: »

I get paid 1700 every month so they can take 500 out straight away before I get a chance to spend it.

my point isnt that ur getting paid 1700, its that ur spending it all every month, now how are you going to cop with 500 less spending each month?
have you rent? food? drink? travel expenses? 500 euro a month less is a few months of beans on toast, which will pretty much cancel out the +EV of the holiday

brave inca

zuroph wrote: »

my point isnt that ur getting paid 1700, its that ur spending it all every month, now how are you going to cop with 500 less spending each month?
have you rent? food? drink? travel expenses? 500 euro a month less is a few months of beans on toast, which will pretty much cancel out the +EV of the holiday

I have decided to pay the loan off over a ten month period. Taking 200 out of my account every month.

Back to the topic on your gambling transaction history effecting your chances of getting a loan.

I dont see why it should as long as you have the money to pay the loan off. When my wages hit my account, the bank will automatically take the money I owe straight out. So if they are gonna get the money every month, why should my transaction history matter?

newbie2

brave inca wrote: »

Back to the topic on your gambling transaction history effecting your chances of getting a loan.

In this particular case - no.
But i would be surprised if they did lend you the cash on the merits of your poker transactions. The bank doesn't care where the money comes from that goes into your account. All they care about is figuring out if it is +EV to lend you money. If they look back at lets say 6 months history of your account, they will see that you take in €1700 pm and have an outstanding overdraft of €1300. They're not going to be impressed if you come sauntering in asking for €2000 (whether it's to consolidate or whatever) and telling them then the T's & C's of how much you will pay back and for how long.
Without much credit history (only the outstanding overdraft) i rekon the bank will tell you to pay off the first debt before you get another.
Money managment is hard when you first start out but it does get easier. I don't want to tell you to cop on and learn to control your spending but I just have. If you can't afford to go on holiday don't pay for it tomorrow.
Other option are - credit card, laser, cash some cheques and whoring.

GL and have a nice trip...

brave inca

Right Ill let you all know how I get on. If AIB refuse then I will go with what someone said earlier. Go to Halifax and get a loan off them. They probably couldnt give two ****s what your history is like as long as they are comfortable of getting the money. They will take on more customers than AIB for obvious reasons!

Misneach

I had the same issue while living in the UK a few years ago, I had money transaction going into my bank account on a regular basis from gaming sites but when it came for loan I was told no chance.

But, a kind lady did mention to me that If I was to set up another account with someone else and have my winnings paid in there, and then transferred X amount EVERY month, it would be seen as a regular income, wages etc. So this is the route you have to take, I believe it's the only way, Good luck.

Try the credit union.

aya14

fwiw my mate works in a bank. he says they cannot cite that as the specific reason u cant get approved but they'll find a way to decline if they dont fancy it. he says yur best bet is ge money or credit union.
hope this helps

CHD

the zac attack speaks the truth.

DeadParrot

Im my personal experience, I dont think you'll have a problem.
I took a 5k loan over 5 years last october to get a car, I have a **** load of transactions to various gaming extablishemnts but they didnt even look at them.
I suppose it helps that I have a decent enough job and am with the bank since I was born

Heisenberg.

This post has been deleted.

Hitchhiker's Guide to...

TBH op; just apply and it doesn't really matter what you say in your loan application. Essentially they have already made up their mind to lend you money or not, even before they see you or receive your application for a loan.

You and your transactions are just a collection of numbers to their central computers, it just depends whether you are the RIGHT collection of numbers to them.

I'd go for the 2k loan option, and maybe spend some of next months wages on poker books instead of playing poker.

brave inca

After a long struggle I got the loan in the end. They noticed my gambling transactions straight away and they proved a MASSIVE obstacle and I was advised to heavily calm down on the gambling transactions or I would have absolutly no chance of getting a mortgage in the future.

So I got the loan but it was a hell of a struggle


Any young lads out there that are using transactions alot for gambling, I would calm it down big time before its too late. If you bet with Paddy Power I would advise you to hand money into the shops and say its for your online account. Thats what I am doing from now on.

Pasodobel

brave inca wrote: »

After a long struggle I got the loan in the end. They noticed my gambling transactions straight away and they proved a MASSIVE obstacle and I was advised to heavily calm down on the gambling transactions or I would have absolutly no chance of getting a mortgage in the future.

So I got the loan but it was a hell of a struggle


Any young lads out there that are using transactions alot for gambling, I would calm it down big time before its too late. If you bet with Paddy Power I would advise you to hand money into the shops and say its for your online account. Thats what I am doing from now on.

Thats fair enough but I wonder would making withdrawls to your bank a/c cause a similar obstacle?

brave inca

Pasodobel wrote: »

Thats fair enough but I wonder would making withdrawls to your bank a/c cause a similar obstacle?

Ye but it wouldnt look half as bad. You could have a cheque sent out to you from Paddy Power. When you cash this into your Bank Account will it come up on your account that it is from Paddy Power?

Hitchhiker's Guide to...

maybe put money into moneybookers.com and transfer it to your accounts from there?

enjoy your holiday btw

brave inca

Roundtower2 wrote: »

maybe put money into moneybookers.com and transfer it to your accounts from there?

enjoy your holiday btw

Thanks!

Can you use your laser card with that site?

coillcam

brave inca wrote: »

Thanks!

Can you use your laser card with that site?

Yes, the laser card is the beauty of money****ers

califano

Thing is the banks will still know as moneybookers is used primarily for gambling site transferage.
Also there can be enquiries made between your bank and moneybookers if they want to.
And yes i have an axe to grind as moneybookers has been letting me down recently with regard withdrawls not going through to my bank and terrible help service firing pre-written stock answers in reply to your enquiries.

Moneybookers says "Oh thats not a problem on our side, your withdrawl was made it must be your bank so contact them, sorry but i cant investigate it any further".

Bank: We know nothing you must get moneybookers to contact us.

Moneybookers: No your bank has to contact us we are not permitted to investigate this further. Ok send us your last 2 months bank statements 'posted ones not electronic ones' and when i recieve these i will investigate it further.

arrrrrrrrggggggghhhhhhhhhh