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Are the banks disrespecting you?

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    #32
    MadsL
    Registered Users Posts: 20,299 ✭✭✭✭MadsL


    dotsman wrote: »
    Being within the agreed limit is only part of it. An overdraft is for short term borrowing and should only be used temporarily. It is repayable on demand and at the first sign of hardcore debt, it is in your interest that it is dealt with.

    Your bank are trying to help you and you are on here complaining?

    I suggested transferring to a loan, they aren't interested.

    By the way, they are being paid for the OD, interest and fees. You would think they would be happy enough.


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    #33
    dotsman
    Registered Users Posts: 3,636 ✭✭✭dotsman


    They probably are happy enough with the interest and fees they are making off you. As I said, I imagine that call was in your favour - that they probably want to make sure you are not getting stuck in a rut with your debt.


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    #34
    Poochie05
    Registered Users Posts: 4,239 ✭✭✭Poochie05


    Jester252 wrote: »
    If you don't own the bank money (I know its easier said than done) you can ask to close your account and watch their attitude change at the potential lost of a customer.

    This hasn't been my experience, just look at the Talk to thread for BOI on here and many on switching accounts, most posters are saying they don't seem to be worried at all about loosing customers in response to their new fees. And in fact I haven't heard a peep out of mine while I was closing my account after being with them for 26 years. :rolleyes:


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    #35
    MadsL
    Registered Users Posts: 20,299 ✭✭✭✭MadsL


    Poochie05 wrote: »
    This hasn't been my experience, just look at the Talk to thread for BOI on here and many on switching accounts, most posters are saying they don't seem to be worried at all about loosing customers in response to their new fees. And in fact I haven't heard a peep out of mine while I was closing my account after being with them for 26 years. :rolleyes:

    Another gripe I have is banks not accepting fax instructions. I went through an utter ordeal of overnight couriers at $90 a pop trying to deal with one account closing and money transfer.


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    #36
    shopaholic01
    Closed Accounts Posts: 4,916 ✭✭✭shopaholic01


    MadsL wrote: »
    Another gripe I have is banks not accepting fax instructions. I went through an utter ordeal of overnight couriers at $90 a pop trying to deal with one account closing and money transfer.
    That might be a data protection issue perhaps?


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    #37
    MadsL
    Registered Users Posts: 20,299 ✭✭✭✭MadsL


    shopaholic01 wrote: »
    That might be a data protection issue perhaps?

    Nope. Some banks do it. Some banks only do it it for business customers and other banks are stuck in the 19th Century.

    Meanwhile in the US I can lodge a cheque by taking a picture of it with my phone and emailing it to the bank. Funds are then available same day.


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    #38
    Micky Dolenz
    Registered Users Posts: 44,080 ✭✭✭✭Micky Dolenz


    mikom wrote: »
    No problems with the bank.
    Banks of turf included. ;)

    Mod


    Drop the turf talk please. Bordering on badgering at this point.


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    #39
    shopaholic01
    Closed Accounts Posts: 4,916 ✭✭✭shopaholic01


    MadsL wrote: »
    Nope. Some banks do it. Some banks only do it it for business customers and other banks are stuck in the 19th Century.

    Meanwhile in the US I can lodge a cheque by taking a picture of it with my phone and emailing it to the bank. Funds are then available same day.
    How do they know the cheque is genuine or hasn't been altered?

    Frank Abagnale would have had a field day with that!


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    #40
    MadsL
    Registered Users Posts: 20,299 ✭✭✭✭MadsL


    shopaholic01 wrote: »
    How do they know the cheque is genuine or hasn't been altered?

    Frank Abagnale would have had a field day with that!

    They reconcile the physical cheque once they get it.

    All this 3 days to clear business does is give the clearing banks a 3 day money market slush fund.

    The Irish banks could do the same if they wished and if a customer wishes to close an account after a large cheque has been drawn down, then I suspect they could just wait for the cheque to actually clear.


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    #41
    dotsman
    Registered Users Posts: 3,636 ✭✭✭dotsman


    MadsL wrote: »
    Nope. Some banks do it. Some banks only do it it for business customers and other banks are stuck in the 19th Century.

    Meanwhile in the US I can lodge a cheque by taking a picture of it with my phone and emailing it to the bank. Funds are then available same day.

    19th century? Sounds like some customers are stuck in the middle ages:)


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    #42
    MadsL
    Registered Users Posts: 20,299 ✭✭✭✭MadsL


    dotsman wrote: »
    19th century? Sounds like some customers are stuck in the middle ages:)

    Cheques are much more widely used in the US.

    Out of interest, if someone sends an EFT through the Irish bank system, is it instant?

    Ever wonder why not?


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    #43
    dotsman
    Registered Users Posts: 3,636 ✭✭✭dotsman


    MadsL wrote: »
    Cheques are much more widely used in the US.
    It doesn't make them any more redundant. There are also a lot more Christian evangelicals, guns etc - is that a good thing?
    MadsL wrote: »
    Out of interest, if someone sends an EFT through the Irish bank system, is it instant?
    For the most part. Some cases it is overnight (due to batch processing).
    MadsL wrote: »
    Ever wonder why not?
    Nope - see above.


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    #44
    MadsL
    Registered Users Posts: 20,299 ✭✭✭✭MadsL


    dotsman wrote: »
    It doesn't make them any more redundant. There are also a lot more Christian evangelicals, guns etc - is that a good thing?

    Hi I'm MadsL. I'm guessing you haven't read too many of my posts. :D


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    #45
    galwayrush
    Registered Users Posts: 12,815 ✭✭✭✭galwayrush


    I have no problem with them since I stopped using them bar lodging the odd cheque .


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    #46
    dd972
    Closed Accounts Posts: 2,563 ✭✭✭dd972


    I'm sure there's a Traveller and a LGBT person somewhere behind all these banking crises, we just have to root them out.


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    #47
    coffee_cake
    Moderators, Category Moderators, Politics Moderators, Recreation & Hobbies Moderators, Society & Culture Moderators Posts: 81,310 CMod ✭✭✭✭coffee_cake


    MadsL wrote: »
    Actually the new fee structure suits, very low fees and I get to keep the account as I will need it next year. I'm paying back the OD - just on my terms, rather than the banks, a bit here a bit there. The bank on the other hand seem to want it all at once. I have offered them a choice of fingers, but my middle one is my favourite.

    Overdrafts are always repayable immediately/on demand, unlike loans and regardless of agreed limits
    you're probably lucky they don't actually demand full repayment immediately


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    #48
    MadsL
    Registered Users Posts: 20,299 ✭✭✭✭MadsL


    bluewolf wrote: »
    Overdrafts are always repayable immediately/on demand, unlike loans and regardless of agreed limits
    you're probably lucky they don't actually demand full repayment immediately

    In which case I would pay it. However, having been a customer for many years, I do object to the way in which banks suit themselves rather than the customer. A few years ago they were faling over themselves to extend credit. Now they waste time fretting about a tiny overdraft.


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    #49
    coffee_cake
    Moderators, Category Moderators, Politics Moderators, Recreation & Hobbies Moderators, Society & Culture Moderators Posts: 81,310 CMod ✭✭✭✭coffee_cake


    MadsL wrote: »
    In which case I would pay it. However, having been a customer for many years, I do object to the way in which banks suit themselves rather than the customer. A few years ago they were faling over themselves to extend credit. Now they waste time fretting about a tiny overdraft.

    Right, because they've learned their lessons about not handing out credit to people...

    The payable on demand bit will be in the T&C you agreed to


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    #50
    MadsL
    Registered Users Posts: 20,299 ✭✭✭✭MadsL


    bluewolf wrote: »
    Right, because they've learned their lessons about not handing out credit to people...

    The payable on demand bit will be in the T&C you agreed to

    I have probably ticked a box allowing Apple access to my first-born, don't not make them bastards when they show up with a van to haul my kid away.

    T&C are great for saying we can do what we like, anytime. It doesn't make the behaviour reasonable - if you make an agreement with a customer, don't be hassling them if you no longer like the agreement you made, espeially as customer you have had for many years, and who is paying you for the serviice. That's just bad business.


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    #51
    lkionm
    Closed Accounts Posts: 3,407 ✭✭✭lkionm


    MadsL wrote: »
    I have probably ticked a box allowing Apple access to my first-born, don't not make them bastards when they show up with a van to haul my kid away.

    T&C are great for saying we can do what we like, anytime. It doesn't make the behaviour reasonable - if you make an agreement with a customer, don't be hassling them if you no longer like the agreement you made, espeially as customer you have had for many years, and who is paying you for the serviice. That's just bad business.

    They only want the blood of your first son and the hymen of your daughter.


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    #52
    downonthefarm
    Registered Users Posts: 1,308 ✭✭✭downonthefarm


    they are fairly decent even when i owed me town halls and couldnt pay them back


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    #53
    coffee_cake
    Moderators, Category Moderators, Politics Moderators, Recreation & Hobbies Moderators, Society & Culture Moderators Posts: 81,310 CMod ✭✭✭✭coffee_cake


    MadsL wrote: »
    don't be hassling them if you no longer like the agreement you made

    You should take your own advice :)


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    #54
    seamus
    Registered Users Posts: 68,317 ✭✭✭✭seamus


    dotsman wrote: »
    For the most part. Some cases it is overnight (due to batch processing).
    Most EFTs between banks in Ireland take place overnight, for the simple reason that banks have no obligation to do it any faster. They hold onto your money as long as they legally can before transferring it. The actual transfer and clearance between the two parties only takes a few minutes. It's not like they load the data onto tapes and then send it in a truck to the other bank. It's electronic, i.e. practically instant.

    Overnight batching is an outdated method of transfer, a relic from an era when processing time and bandwidth was at an actual premium. And also when there was far less automation around. Transfers within your own bank used to be done overnight.

    These obstacles no longer exist and there is no good reason why banks cannot do the transfer in real time apart from the fact that they just don't want to.

    We deal with banks in the UK and we're able to get money transferred between any bank accounts in the UK (business or consumer) and cleared within 45 minutes, 24/7/365. This is a special premium service, you say? Nope, the service which provides this interconnect is run by the banks themselves. So it would cost the banks nothing extra to send all of their EFTs using this method. I have absolutely no doubt that the Irish banks have a similar system in place.

    But some UK banks will still tell their customers that the EFT will take a day or two days because they have to batch them overnight, or some other bull**** cover for the fact that they just want to hold onto the cash a little longer.


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    #55
    MadsL
    Registered Users Posts: 20,299 ✭✭✭✭MadsL


    bluewolf wrote: »
    You should take your own advice :)

    Hassling them? The power of boards, eh?


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