Camie Posted November 16, 2007 Report Share Posted November 16, 2007 I am with Bank Of Scotland, and took out money from their branch today. When asked if I have wanted to upgrade my account I said no and explain that my overdraft in my Student Current Account is currently maxed out at 500. They then told me that I am supposed to pay back at least 400 per quarter, according to my terms and conditions(not actually found them to clarify that). However, I haven't payed back 400 for about a year and a bit so I am not too sure of how legit this is.Anyone else have a Student Current Account with Bank of Scotland that can tell me if this is true or not, or does anyone have advice on what to do as I am really stuck in the mud just now with this. Quote Link to comment Share on other sites More sharing options...
scottyboy Posted November 16, 2007 Report Share Posted November 16, 2007 by 'pay back' you just mean pay 400 in per quarter? i put money in from loan payments but it inevitably goes back down again pretty soon... i do know that a condition of the overdraft is that you pay your 'main source' of income (grants/loans and i guess any parental contribution or wages you get) into it, so probably if nothing goes in for 3 months they suspect you aren't doing it Quote Link to comment Share on other sites More sharing options...
Camie Posted November 16, 2007 Author Report Share Posted November 16, 2007 by 'pay back' you just mean pay 400 in per quarter? i put money in from loan payments but it inevitably goes back down again pretty soon... i do know that a condition of the overdraft is that you pay you're 'main source' of income (grants/loans and i guess any parental contribution or wages you get) into it, so probably if nothing goes in for 3 months they suspect you aren't doing itYeh that is what I mean.If that was true then they would've got in touch with me over a year ago. Quote Link to comment Share on other sites More sharing options...
scottyboy Posted November 16, 2007 Report Share Posted November 16, 2007 Bank of Scotland - Student Current Accountright at the bottom, fourth paragraph from the end:'If you have an arranged overdraft you must pay your salary, grant cheque, student loan, parental contribution or other regular credit into your account.'is where i saw it.i had a friend who was accused of 'abusing' her overdraft, i'm not sure how they worked out she wasn't paying her money in though. also, i don't know where the 400 per quarter (assuming it's got anything to do with this rule) came from, never heard of that before. Quote Link to comment Share on other sites More sharing options...
Camie Posted November 16, 2007 Author Report Share Posted November 16, 2007 Bank of Scotland - Student Current Accountright at the bottom, fourth paragraph from the end:'If you have an arranged overdraft you must pay your salary, grant cheque, student loan, parental contribution or other regular credit into your account.'is where i saw it.i had a friend who was accused of 'abusing' her overdraft, i'm not sure how they worked out she wasn't paying her money in though. also, i don't know where the 400 per quarter (assuming it's got anything to do with this rule) came from, never heard of that before.I just phoned up.As long as I make regular payments im ok.The whole 400 per quarter is a load of bollocks apparently. Quote Link to comment Share on other sites More sharing options...
Bigsby Posted November 16, 2007 Report Share Posted November 16, 2007 I just phoned up.As long as I make regular payments im ok.The whole 400 per quarter is a load of bollocks apparently.Just as well you went to the huge effort of phoning the bank instead of wasting your time soliciting financial advice on an online music forum. Quote Link to comment Share on other sites More sharing options...
Guest Neutral Posted November 16, 2007 Report Share Posted November 16, 2007 I just phoned up.As long as I make regular payments im ok.The whole 400 per quarter is a load of bollocks apparently.I think there is a bit of legislation somewhere which states all payback of debts must be offere as regular payments as opposed to the whole amount at once - up to a point Quote Link to comment Share on other sites More sharing options...
Camie Posted November 16, 2007 Author Report Share Posted November 16, 2007 Just as well you went to the huge effort of phoning the bank instead of wasting your time soliciting financial advice on an online music forum.I see what you did there.Sounds silly, but I was scared that I phoned them to explain my situation and they would realise what was going on and demand the whole payment.Also, I didn't realise they had 24 hour customer service. Quote Link to comment Share on other sites More sharing options...
Hog Posted November 16, 2007 Report Share Posted November 16, 2007 Banks are all arseholes. Everytime Im told that I will be charged for paying cheques I change bank.RBS are shit.BOS...not so bad.Regarding business banking, just hope you never become a business bank manager. Im a nice guy but not when it comes to dealing with business banking. Bank manager-"Hi Scott, welcome to our brilliant banking service"Scott- "Thank you. Do you charge for me submitting cheques"Bank manager- "Yes"Scott- "Why? One of my friends has a family business and he made an agreement with you guys that he doesn't get charged for cheques"Bank manager "em, overheads em...blah blah"Scott- "Your crap" Quote Link to comment Share on other sites More sharing options...
Scorge Posted November 17, 2007 Report Share Posted November 17, 2007 Bank manager-"Hi Scott, welcome to our brilliant banking service"Scott- "Thank you. Do you charge for me submitting cheques"Bank manager- "Yes"Scott- "Why? One of my friends has a family business and he made an agreement with you guys that he doesn't get charged for cheques"Bank manager "em, overheads em...blah blah"Scott- "Your crap"Bank Manager: "You're not bald"Scott: "LOL ig ig ig! Did I ever tell you about...."Bank Manager: "That cumshot? Yeah, about 400 times...."Scott: "LOL ig ig ig!"Bank Manager: "Errrrrrrr....."*phone goes dead* Quote Link to comment Share on other sites More sharing options...
Hog Posted November 17, 2007 Report Share Posted November 17, 2007 Bank Manager: "You're not bald"Scott: "LOL ig ig ig! Did I ever tell you about...."Bank Manager: "That cumshot? Yeah, about 400 times...."Scott: "LOL ig ig ig!"Bank Manager: "Errrrrrrr....."*phone goes dead*Yes, very good. Quote Link to comment Share on other sites More sharing options...
Alan Cynic Posted November 17, 2007 Report Share Posted November 17, 2007 Just as well you went to the huge effort of phoning the bank instead of wasting your time soliciting financial advice on an online music forum.Camie was right the first time!!Camie...give me all your money (and your worldly goods) and I'll look after your account (from my holiday base abroad!). Quote Link to comment Share on other sites More sharing options...
lepeep Posted November 17, 2007 Report Share Posted November 17, 2007 I've just set up (business) banking with Alliance & Leicester...and they don't charge for paying in cheques...up to 7k (If I remember rightly!)From all the intersnek research I did, they always seemed to come out top of the pile...but, today's news, I hear that they migh be the next norther rock(!) Quote Link to comment Share on other sites More sharing options...
Teabags Posted November 19, 2007 Report Share Posted November 19, 2007 the next norther rock(!)are they more north than northern rock or something? Quote Link to comment Share on other sites More sharing options...
Guest Neutral Posted November 19, 2007 Report Share Posted November 19, 2007 Some Banks are a jokeWent to lloyds tsb, about 10 customers 1 fucking teller, rude bitch tooApparently Internet Banking is a special case. The problem? transfer from lloyds account to bank of scotland on 3rd of november has not yet appeared on bank of scotland systems as a recent transaction nor is it pending, it has however been removed from my account at lloyds, lloyds could not give me any information whatsoever on this simple transaction not even the amount even though it was on the statement printed from the cashline, when I questioned this i was told that none of their branches in aberdeen could deal with this problem because i used internet banking.Solution - Close the account? I wonder if that is possible to do at an aberdeen branch, maybe i can take a shit on the counter while im at it although im not sure that is possibleKeywords, No, Not, possible------------------------------------------------------------------------------------Went to clydesdale, about 15 customers 2 yes 2 fucking tellers servingAccount closed------------------------------------------------------------------------------------Went to Alliance and Leicester - , couldn't find my fucking account and told me to write to head office, at least the teller was friendly------------------------------------------------------------------------------------Went to barclays to remove overdraft facility from the account, about 7 customers 3 tellers and one customer service assistantOverdraft cancellation and a seperate deposit completed but took 10 minutes to do this------------------------------------------------------------------------------------Went to bank of scotland, about 7 customers 4 tellers and two customer service assistants dealing with other queries - internet banking etcClydesdale withdrawl deposited here, internet banking setup via internal systems as the online signup has a problem with the john street sort code, Friendly staffCRedit unions ftwnobody steal my mattress Quote Link to comment Share on other sites More sharing options...
Jamie Posted November 19, 2007 Report Share Posted November 19, 2007 but, today's news, I hear that they migh be the next norther rock(!)Haven't seen the news on A & L (tho I did hear their name mentioned during the NR crisis) - got any links? Quote Link to comment Share on other sites More sharing options...
HateEvent Posted November 19, 2007 Report Share Posted November 19, 2007 Banks are all arseholes. Everytime Im told that I will be charged for paying cheques I change bank.RBS are shit.BOS...not so bad.Regarding business banking, just hope you never become a business bank manager. Im a nice guy but not when it comes to dealing with business banking. Bank manager-"Hi Scott, welcome to our brilliant banking service"Scott- "Thank you. Do you charge for me submitting cheques"Bank manager- "Yes"Scott- "Why? One of my friends has a family business and he made an agreement with you guys that he doesn't get charged for cheques"Bank manager "em, overheads em...blah blah"Scott- "Your crap"Your crap what? Quote Link to comment Share on other sites More sharing options...
lepeep Posted November 20, 2007 Report Share Posted November 20, 2007 are they more north than northern rock or something?actually...it "was" the northern rock...but they are missing more than just a few letters now! Quote Link to comment Share on other sites More sharing options...
lepeep Posted November 20, 2007 Report Share Posted November 20, 2007 Haven't seen the news on A & L (tho I did hear their name mentioned during the NR crisis) - got any links?BBC NEWS | Business | Alliance & Leicester shares slump...and just to top off a great run of news about banks n shit....undoubtedly my name is on the list of 25 million parents who have had their details "mislaid" by the good old government...when's that Crass dvd out? Quote Link to comment Share on other sites More sharing options...
Spoonie Posted November 20, 2007 Report Share Posted November 20, 2007 credit crunch-a-rama. there will be more people admitting taking a beating over the next wee while. it's nasty. /x Quote Link to comment Share on other sites More sharing options...
Sue Denim.. Posted November 22, 2007 Report Share Posted November 22, 2007 I just phoned up.As long as I make regular payments im ok.The whole 400 per quarter is a load of bollocks apparently.That's how a bank does business. It doesn't want you to pay back the overdraft as they can continue to make money on the overdraft interest. To a bank, a bad customer is someone who owns a credit card but pays it off in full every month, never uses the overdraft facility and doesn't have a loan outstanding. Quote Link to comment Share on other sites More sharing options...
Camie Posted November 22, 2007 Author Report Share Posted November 22, 2007 It's interest free, as it's a student account though so technically they aren't making any money. Even when I graduate I get a year to pay it back interest free. Quote Link to comment Share on other sites More sharing options...
Spoonie Posted November 22, 2007 Report Share Posted November 22, 2007 which most people don't manage and then get stung. that's how it works! /x Quote Link to comment Share on other sites More sharing options...
Camie Posted November 22, 2007 Author Report Share Posted November 22, 2007 which most people don't manage and then get stung. that's how it works! /xAhh but it's only 500.As long as I don't get a bigger one(which I will never do) then i'll be fine. Quote Link to comment Share on other sites More sharing options...
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