AIB woes

Kalimah

My recently graduated son has been offered a job in another county so has to move out of home in a few weeks. He has had an AIB graduate account for the past couple of years.so phoned them to ask for an temporary overdraft to cover rent and living expenses for a couple of weeks.
They said no, not unless he had a contract from work along with - get this- several months salary payments going into the account. Well duh - if he had salary into the account he wouldn't need an overdraft.
I'm livid. It now looks like I will have to fund his first few weeks and I have two others in third level this year.
The AIB graduate centre is a joke. What is the point of it at all? Plenty of slick advertising and empty promises.
I'd even go guarantor for an overdraft but it seems they just do not want to know.

Sinemo

Kalimah wrote: »

My recently graduated son has been offered a job in another county so has to move out of home in a few weeks. He has had an AIB graduate account for the past couple of years.so phoned them to ask for an temporary overdraft to cover rent and living expenses for a couple of weeks.
They said no, not unless he had a contract from work along with - get this- several months salary payments going into the account. Well duh - if he had salary into the account he wouldn't need an overdraft.
I'm livid. It now looks like I will have to fund his first few weeks and I have two others in third level this year.
The AIB graduate centre is a joke. What is the point of it at all? Plenty of slick advertising and empty promises.
I'd even go guarantor for an overdraft but it seems they just do not want to know.

I would have to agree with you. As a student with no income they were throwing overdrafts and credit cards at me. At the time I saw no need for either.
Once I became a graduate and was earning money they refused to issue me with a credit card because I wasn't earning enough. It wouldn't be so bad except I had the majority of my savings with them, so it wasn't as if there were no funds to cover any expenditure.
Did you try opening an account in another bank and seeing if they would provide the overdraft for your son?

Kalimah

Thanks for that. He never had a student loan as luckily he had the odd bit of work and the bank of Mam and Dad! The job he is going to is very well paid for a recent graduate. We might try B of I as he did have a small account with them. God knows how any unemployed person who gets s job away from home ,can pay rent and deposit upfront , plus bills and food , before their salary comes through.

Pablo Sanchez

To be honest i dont know any bank that would give an overdraft to someone who cannot show regular income into the account- and its even less likely seeing as he is leaving the country- the bank has no security.

Kalimah

Pablo Sanchez wrote: »

To be honest i dont know any bank that would give an overdraft to someone who cannot show regular income into the account- and its even less likely seeing as he is leaving the country- the bank has no security.

No he is moving from the east coast down to the west to take up a job with a multi national paying in the region of 35k per annum. I'd go guarantor given the option but bank don't want to know. Thought they were in the business of cultivating new up and coming customers.

Pablo Sanchez

Kalimah wrote: »

No he is moving from the east coast down to the west to take up a job with a multi national paying in the region of 35k per annum. I'd go guarantor given the option but bank don't want to know. Thought they were in the business of cultivating new up and coming customers.

My apologies, you said county, not country!!

It is getting harder to get credit facilities, and to be honest it seems silly, but in order to get an overdraft, you almost need to be in a situation where you can demonstrate that you dont need a overdraft!

Does he have a credit card that he could use in the mean time? Would the credit union be an option for a small loan?

Kalimah

Have to agree! Luckily we can borrow from the credit union so we'll do that. He says he'll pay us back!

hfallada

Did you ask the bank could you co sign for the OD? That if he doesnt pay the loan, that you will. A CU loan will probably be cheaper than a overdraft unless you are getting the OD for free

Kalimah

The option of going guarantor or co signing for overdraft doesn't seem to be an option at all. It looks like the bank are not interested in anything but a cast iron bet. The good old credit union will come up trumps again no doubt, as they have always done for us.
We're told time and time again we need the banks - can't for the life of me see why as you can get nothing from them and the customer service is non existant. Not a chance I will be giving them any business in the foreseeable future. Particularly AIB.

murphaph

My German banks are the same: no OD unless you have a salary going in. I don't think this is really unusual. If the banks had only been more careful about their lending during the bubble, it might not have been so bad.

Kalimah

I would agree in relation to crazy lending practices during the boom. I was never a beneficiary myself! From all accounts the rule book was thrown out the window. I think the moral of the story is, open a credit union account and put even a small amount in for scenarios like this.