changing bank

whelan1

i am currently with a bank called after a provence in ireland;) have been with them for over 10 years... all was grand til around christmas last year when a new manager came in... i asked for more money ... i already had an overdraft that i could more than clear with my biggest milk cheque .. i got half of the money i asked for and this was put in the form of an overdraft as my o/d rate is actually lower than my loan rate.. now there wouldnt be a chance in hell of me ever clearing this overdraft... got on to bank in february to restructure things - ie lower o/d and rise loan.. was told to come back in 3 months.. struggled by til then.. was told farm advisor would have to come out , no probs there, had an appointment she never showed , they never even bothered to tell me it had been cancelled.. have had a few appointments to go to see bank man , but he has cancelled at the last minute...anyway earlier last month went to get phone credit on line and i was denied , knew i had money in my account, checked it , they had pulled my overdraft with out telling me:mad: i was livid, rang bank man got answering machine , just as well as i would have ****ed him from a height.. he rang me back and said the reason it was pulled was because the farm advisor never came out to me , now it is not from the want of trying on my part. He got the overdarft put back in place on the condition we did something during the month of september , i have rang him every second day for the last 3 weeks and not once did he reply:mad: so this morning the overdraft is gone again , i have written cheques in the last few weeks and they will probably bounce.. i would never write a cheque that i would know would bounce.... I will ring him later again, have called in to branch but he is too busy...i am trying to move to another bank but that is moving very slowly.. what would you do?

ellewood

Dont know bout any body else but wheni started in 2008 i went with aib because the manager in there knew a little about farming, boi wernt bad either, but ulster hadnt a clue. now i know in 2008 they were still lending fairly loosely but the thing was starting to tigthen up but aib were good i had to restructure a loan in 2009 as installation aid cut and reps were delayed no problem with aib early this year o/d was increased a bit just to take pressure off again no problem and during the summer this year i got approval to buy a 2nd hand tractor/loader again no problem now the mnager has changed last year and the new lad dosent know much bout farming but theres no problem with him. now i know the amounts of money i deal with them isnt millions or im not making o fortune from farming but overall they seem willing to be helpfull when you need them

whelan1

thats who i am trying to change to.... i am just totally fed up with my current bank and the fact they dont even have the decency to answer my calls says it all:( going to ring him now at 9 ... deep breaths

roosterman71

Change banks, and don't feel bad about it. Banks show no loyalty to customers, so why should customers show any back?

5live

Contact the agri manager. I think i know his name. I can PM it to you if you are interested. He was a sound lad when i knew him. And all banks are the same. The only difference is whether your manager knows anything at all about farming or not. I am with AIB and am averaging a new manager every 13 months over the last 13 years. I am on my third this year and could go through 2 more yet if they dont get settled in. I didnt look to change them, it was all internal movement. If that doesnt bother you go ahead. I had the same issue with my lot earlier this year and absolute horror show 6 years ago with a loan approved then withdrawn when i looked to draw down and later emerged it wasnt withdrawn by bank but by manager despite being approved by the bank. I wuold say talk to the guy who will be in charge of your account first and see if he will be there for a few years and bring cash flows for this year and projections for next year too. This just my experience anyway

reilig

I'm with BOI for my farm stuff and find them good. They have one specific guy in the branch who deals with all agri customers. He has a bit of cop on and knows a bit about farming. In 2007 when we were building a slatted shed under the FWMS he set up a bridging loan which was supposed to run for 9 months. My building went on for almost 2 years - received several calls from BOI in Dublin on the days that it was suppposed to be repaid, but it only took a quick call to him to get it extended. In the end, when the Dep. didn't pay the whole grant, he set up a loan for me for my outstanding amount - with ease. Pleasure to deal with all the way - I'm very happy with the service. But I suspect that its the people working in the bank that make it easy to deal with rather than the bank itself.

As for AIB, we have a mortgage with them and the sneaky b@$t@rds tried to force us off our tracker mortgage in the last 12 months.

You may find it difficult to find a bank willing to take you on if you are going to carry an overdraught with you. Banks want new customers, but don't want new loans.

whelan1

my current o/d rate is only 5% which is very good ,but the size of my overdraft is laughable , i never wanted it that high but he took the easy way out and increased it.- i was glad to get the money - Anyway rang this morning at 9am and lo and behold he is on annual leave- poor chap needed a break- there was a girl there instead of him..told her the story , she couldnt believe the way he has been treating me , i told her how am i supposed to run a business when they treat me this way... so she is going to extend the o/d for 2 more months and will ring the ag advisor today again ... the rates i have there are great and would be paying alot more in aib , but i just dont need this crap

5live

I'd say transfer to the woman you were with this morning. A good bank manager is nearly as important as having two feet

snowman707

AFAIK at one time banks were legally obliged to notify you in writing before they pulled you od , don't know if this still stands

you are going no where with this guy, i would contact head office outlining all you grievances with him and ask for the running of your affairs to be transferred to the area manger or the agri manger or else to a different branch,

banks as a rule don't like to lose customers, if your parents or other members of the family are with the same bank you might casually mention if one a/c goes they all go

this approach has worked in the past, belive me

whelan1

snowman707 wrote: »

AFAIK at one time banks were legally obliged to notify you in writing before they pulled you od , don't know if this still stands

you are going no where with this guy, i would contact head office outlining all you grievances with him and ask for the running of your affairs to be transferred to the area manger or the agri manger or else to a different branch,

banks as a rule don't like to lose customers, if your parents or other members of the family are with the same bank you might casually mention if one a/c goes they all go

this approach has worked in the past, belive me

my dad had recently moved , now he wouldn't have anything near the business i would have with them but business is business , just wondering are aib secure really ? i want to stay with this bank just not with this manager... was spoilt with my previous manager... thanks for the advice, i know times are tough for everyone but it shouldnt be this bad

whelan1

well o/d has been reinstated ... fell like a big weight has been lifted off me... this is only a stop gap measure , will try and change my manager me thinks

BeeDI

whelan1 wrote: »

well o/d has been reinstated ... fell like a big weight has been lifted off me... this is only a stop gap measure , will try and change my manager me thinks

Has this experience of having your OD pulled on more than one occasion, made you ask yourself are you over dependent on it in the first place?

What can you do, to improve the cash flow? Banks aren't going to get any more easy to deal with any time soon, due to their own problems.
I'd be more inclined to look at opportunities to improve the cash flow situation, than rely on the good will of the bank.
Just my twopence worth.

whelan1

BeeDI wrote: »

Has this experience of having your OD pulled on more than one occasion, made you ask yourself are you over dependent on it in the first place?

What can you do, to improve the cash flow? Banks aren't going to get any more easy to deal with any time soon, due to their own problems.
I'd be more inclined to look at opportunities to improve the cash flow situation, than rely on the good will of the bank.
Just my twopence worth.

as i said earlier i never wanted such an o/d it was an easy way out for bank manager but when he wont answer my calls its very hard to move forward... i want to get things sorted so i dont have to go near a bank manager for years

whelan1

went to bank today as they have started saturday opening ... girl at counter asked me was i happy with the service i get from them , so told her my story , she couldn't believe what has happened to me , she is going to get on to the area supervisor on monday and sort it out ! will see what happens

westwicklow

Can't wait to hear what happens next.......

We could all be in the same boat!!!

whelan1

well 1 week later and no call back:mad: surprise surprise, was in there this morning and said it to the girl at the counter , i am in a better place to bargain now as i have my milk cheque and hopefully my sfp .. so things might look a bit better...

Shauny2010

Banks will only contact you when you've got money in your account so expect them to call back all nice and friendly after next week.
I Bet that they'll also have some products to sell too!!! I've been through it all before when starting out...doesn't see much has changed with them even if we are now the owners of these banks

Oh yeah if think that you don't exist in this world try skipping a few payments on any loans you have then you can be sure you exist!!!:D

whelan1

as soon as sfp enters my account i will be like woman possessed- whats new:D- they wont know what hit them

valtraman

The main mistake i see in your dealings with the bank or any big company where comunication is breaking down is BACK UP ALL PHONECALLS OR MEETINGS WITH A LETTER OR EMAIL .now there is proof of your efforts to resolve the problem ,best of luck with the new manager

whelan1

had aib out today... o/d rate 7.95 , i am currently on 5.2% .... they dont want my business

denis086

We had a new manager come into our area we had terrible problems with them she wouldnt meet us half way at all on OD's etc she was almost as bad as the ones you get ringing from dublin! But now after a few years they know us and we were looking around for finance for a machine lately and were onto a few and they wonts top calling us know to know who weve given it to mind you theyre very competitive for once. :rolleyes:

whelan1

someone was telling me the other day they dont actually say no to you but go a round about way about it, like one lad who was looking for 150,000 loan was told to put 30,000 up and he would get the loan

blue5000

Heard of man been told to pfo by offering him a loan at 19%....aib

djmc

I have a second account open when things got tough last year I lodged a few cheques into it from cattle sales to keep me tipping over put food on table and have some cash on hand.
Left the bank write letters about overdraft limets and loan repayments and told them I needed extra tempory overdraft or they could wait for money.
bought farm stuff on milk account and just played hard ball back with a smile of coarse

whelan1

yet they say they are all for farmers and helping small business what a pack of assholes

John_F

so much for this http://www.youtube.com/watch?v=b40NWBZkXw8

"what i liked about his story was that he has sort of taken the tradtions of farming and respects those but also sort of taken it into a new direction in terms of the use of technologies to help him sort of manage his herd and also ammmmmm, technology in terms of his land and his grass and sorty of the, the.."

so you must have a herd management systems and be grass budgeting and have a few tradtional houses in the farm yard to get a loan??????? :rolleyes:

just think of the money gone into making that ad

whelan1

John_F wrote: »

so much for this http://www.youtube.com/watch?v=b40NWBZkXw8

so you must have a herd management systems and be grass budgeting and have a few tradtional houses in the farm yard to get a loan??????? :rolleyes:

just think of the money gone into making that ad

ye money that i was supposed to get the visit i had last week was purely cosmetic there wasnt a chance in hell of them facilitating me