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Banks refusing overdrafts - Tight arsed!

Irishcrx

Don't get me wrong before I start, I realise that the days of banks throwing out money are long gone and that they have had to regulate but they just don't seem to have any give even for very small ammounts.

I called PTSB during the week looking to ghet a €500 overdraft applied to my account reason being I'm about to have a baby, I have savings but just wanted it available in case of a tough month ahead or in the future. I've been with the bank 6 years , have my motrgage with them and one loan which is nearly paid off and have never missed a payment. I was gobsmacked by the ammount of effort and info they wanted off me just for a small overdraft.

P60
6 month wage statements
Signed letter from HR department
2 pay slips
Accounts history for 6 months
Credit rating check (Fair enough)
Personal meeting in branch

At this point I'll told the girl on the phone to stop and forget about it, I'm not trying to buy Cocaine!!just a small overdraft for a rainy day...

And they wonder why these add's on TV drive people crazy.

'At bank of ireland blah blah we depend on lending , our business depends on it'

More like you have to be shown to be trying to lend but in actual fact you wouldn't lend a bag of sugar out without asking for someones passport.

Ahhhh heeeerrreee lerrrreee it ouuuuu...rant over.

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DirtyBollox

i can request an overdraft online from BOI. no ****e like that involved.

krudler

500 quid is a small overdraft? fcuk me I'm poor.

Irishcrx

Well I think €500 would be a standard ammount most people would have on there overdrafts.

Sir Digby Chicken Caesar

so they didnt actually refuse the overdraft, you just walked away....

WoollyRedHat

Well you're hardly going to ask for a 10 euro overdraft to go up to the shops and buy some milk and all that, and pay them back next week sure.

MagicMarker

Mortgage, loan and about to spawn a dependent.

Ah yeah OP, I'd give ya money no bother.

[Deleted User]

That's what they should have been doing in the first place, and if they did we wouldn't be in half the mess we are today.

Irishcrx

MagicMarker wrote: »

Mortgage, loan and about to spawn a dependent.

Ah yeah OP, I'd give ya money no bother.

With a perfect credit history and a well paying job , why not?
The reason they got into the mess wasn't loaning to people who could pay it back it's sending letters to 17 year olds who work in Mcdonalds offering them €1500 extra credit on their credit cards...

Peanut2011

The only way you can get a loan these days is to prove that you don't need one!

toxicity234

yeah, same thing happen to me.
The bank are trying to stop application for loan before there received so they don't show up in there figures.
apply anyway just to piss them off.

yeppydeppy

I have the exact same experience with them, they make you jump through so many hoops that you just give up.
They also told me they wouldn't do a €500 overdraft it had to be a thousand - I'm guessing that way you'd have to have a higher credit rating.
What ever happened to customer satisfaction? Not that the banks ever gave a shít about that.

Davidth88

just wait until you want a mortgage.

We wanted a small mortgage for an extension , we have very little owing on the house ( we are lucky )

The paper work they demanded amounted to a folder about 3cm thick.

Stupid things like..... they gave me a salary cert to get filled out , which I did , they rejected it because the one I gave them wasn't an original ( they gave a photo-copied one to fill out ) . Then they take 3 months to come to decision , but say ... ohh now all your salary stuff is out of date , we want it all again.

Basically they want you to f*** off

The banks are just a joke .

BTW , we got the mortgage , it took 4 months , 3 appointments, and about 3cm of paperwork. I think they were disappointed we didn't give up

teddy b123

I once needed to get a small overdraft from AIB, needed it straight away, applied for it on the phone in the morning, got it approved and available in the afternoon.

Not all the banks are bad!

garv123

AIB refused my student overdraft which is 600 euro but said they would approve a 1200euro one if my mother (who's balance is in negative figures) signed off on it..They wouldn't let her sign off on the 600 euro one though.

Makes loads of sense.

BillyMitchel

teddy b123 wrote: »

I once needed to get a small overdraft from AIB, needed it straight away, applied for it on the phone in the morning, got it approved and available in the afternoon.

Not all the banks are bad!

AIB can be a horrible bank to deal with.

__oc__

garv123 wrote: »

AIB refused my student overdraft which is 600 euro but said they would approve a 1200euro one if my mother (who's balance is in negative figures) signed off on it..They wouldn't let her sign off on the 600 euro one though.

Makes loads of sense.

at least you got a reply from them..i applied on the 21st of september still no answer called them everyday for two weeks..kept fobbing me off with student officer is busy right now but will call you back...got so fed up went into branch in waterford it spoke to manager who was frankly down right rude, told me any information i was told was incorrectand that she would call me when she had a look at my application.

guess what? no reply..yet again seriously thinking of closing the account and moving to a different bank..horrible horrible service

TheChizler

Hrm, I got a letter from AIB yesterday saying they were automatically upgrading me to a €1000 overdraft on the graduate account (I hadn't any already). In fact I would only have to take action if I DIDNT want this. Funny how they can be so trusting in differing situations.

Pottler

DirtyBollox wrote: »

i can request an overdraft online from BOI. no ****e like that involved.

I can request Nasa to shine a light into my front garden from space, about as likly they'll do it though.

MadsL

Pottler wrote: »

I can request Nasa to shine a light into my front garden from space, about as likly they'll do it though.

What did they say when you asked?

Thrill

Peanut2011 wrote: »

The only way you can get a loan these days is to prove that you don't need one!

He wasn't refused an overdraft though. According to the OP he told them to forget it because he felt the amount of info they required to give him one was too long.

At this point I'll told the girl on the phone to stop and forget about it,

Bullseye1

Its amazing we have people on here defending the banks. The Banks!!!

dirtyden

If only banks applied this kind of rigour over the past 15-20 years we would not have the IMF in the country right now.

I understand the frustration people have but this is the way banks should be run. Not the nonsense of 120% mortgages, bumping up credit limits with a phone call etc.

Possibly it has gone a little too far in the opposite direction though.

meoklmrk91

Looked for an overdraft last year as I had started college and was awaiting the grant, was always watching the account to ensure that the money was there for my car insurance so I just wanted a small overdraft of say €100 just in case I fell short one month. Was asked did I have a job and when I said no they said I would have no hope. Would have been nice if they had just had a gawk at my credit rating but no didn't have a hope.

That was with PTSB, with them shutting down the local branch it just gives me even more motivation to move to BOI the only reason I was with them anyway was because of Visa Debit.

[Deleted User]

TheChizler wrote: »

Hrm, I got a letter from AIB yesterday saying they were automatically upgrading me to a €1000 overdraft on the graduate account (I hadn't any already). In fact I would only have to take action if I DIDNT want this. Funny how they can be so trusting in differing situations.

I thought this was illegal now?

UCDVet

Davidth88 wrote: »

just wait until you want a mortgage.

We wanted a small mortgage for an extension , we have very little owing on the house ( we are lucky )

The paper work they demanded amounted to a folder about 3cm thick.

Stupid things like..... they gave me a salary cert to get filled out , which I did , they rejected it because the one I gave them wasn't an original ( they gave a photo-copied one to fill out ) . Then they take 3 months to come to decision , but say ... ohh now all your salary stuff is out of date , we want it all again.

Basically they want you to f*** off

The banks are just a joke .

BTW , we got the mortgage , it took 4 months , 3 appointments, and about 3cm of paperwork. I think they were disappointed we didn't give up

I went to a mortgage broker to try and find me the best rate for a mortgage. This was a few years back (and not in Ireland). Now, I understand them needing to check on a few things - but it was absolutely overwhelming the crap they wanted me to jump through. At one point, I demanded to see evidence of the BANKS financial well-being before I'd want to do business with them.

He told me they don't do that.
I left.

Now I rent.

Had I gotten the loan I'd probably owe 100k on my house.....woohoo!

TheChizler

whoopsadaisydoodles wrote: »

TheChizler wrote: »

Hrm, I got a letter from AIB yesterday saying they were automatically upgrading me to a €1000 overdraft on the graduate account (I hadn't any already). In fact I would only have to take action if I DIDNT want this. Funny how they can be so trusting in differing situations.

I thought this was illegal now?

I was surprised too! I'll have to read the fine print and get back to ya. And say no way José.

Solair

Unfortunately the Irish banks are basically suffering from a kind of financial equivalent of bipolar disorder.

They went completely manic during the property bubble and lent money like there was no tomorrow (literally) and now they have switched to a situation where they are being so conservative about lending that it's probably damaging the economy.

For organisations that deal with maths and numbers all day, they're not very logical or rational in the way they seem to make policy decisions.

That being said, Irish banks were always a pain in the rear to deal with for current account banking. For example, they were probably the last banks in the developed world to issue debit cards! Laser launched ridiculously late, and they used to make people jump through hoops to get a simple debit card.

Meanwhile, they were chucking money at anything property-related; developers (big and small), mortgages, etc etc like it was confetti at a wedding.

The majority of their losses were made on property transactions, not small overdraft facilities.

But, thanks to their utter screw-up, we now all have to pay through higher taxes and having our credit lines reduced (which will keep the economy depressed).

I have zero respect for those 'institutions'. It's just one fiasco after another.

Wompa1

I was in the upper tax bracket salary wise and got refused a 500 overdraft too.

I then tried to take out a loan for 2k and was declined first time around.

Ironically when I went in the next time to the bank the woman serving me asked me if I had 15 minutes to discuss setting up a savings account due to the amount I had in my current account at the time.

Then one of the women in my local bank screwed me when I took a job in America, I went in to talk about the best way to bring the money with me. I was told put a lot on the credit card because it would be commission free and they would ensure there was no lock put on it....It got locked 3 times and left me totally f'd for 2 days each time because of the time difference and having to work. Totally messed up how I'd planned out my finances and sent me into debt. D'ckheads

marcsignal

Irishcrx wrote: »

'At bank of ireland blah blah we depend on lending , our business depends on it'

Don't get me started on Bank of Ireland

Was almost left stranded in Spain by the bastards.

After phoning them 15 times in 5 days, I eventually got pissed off by their total and utter incompetence, and gave up. I phoned the AIB (an account I hadn't used in 8 years) and they were happy to furnish me with an emergency overdraft in 20 minutes.

F*ck you BOI!! :mad:, I wouldn't leave any of you cretins in charge of feeding a budgie while I'm out of the country in future.