SA Footy

I applied to borrow 20K against my house which would've taken me up to approx. 70% of the value according to my council rates estimate.
After being told that because I was breaking an existing fixed rate it wouln't get started until the 16th as that is the day that they process break-outs. I said no worries as I wasn't really in any rush for the money anyway.
They then rang me the next day to ask if they could take out $1300 from my account so when the 16th came around they could speed the process up, I obliged after asking that this should gaurantee my request.
The 16th came, had a couple of phone calls just to verify things then yesterday they ring me and say that they will not process it as I have gotten married since I took the initial loan out and weren't going to re-imburse me because I was dis-honest about my situation.
When I got married, my wife joined up with my bank and we now have a joint account, surely they could accept this and see that I am in a securer financial position now than when I took out the first loan.
The bank I am with now isn't even the bank that I signed up with, there has been a takeover, I wasn't asked whether I wanted to go with them, it just happened, why can they merge but I get victimized when I did.
Who can suggest a good bank to do all of my finances with, I used to be with Australian Central, I regret leaving them now.

Savings & Loans have always been good. I don't have my regular account with them as it can be difficult for interstate/overseas access (although they are expanding), but I have a savings account with them at good interest and they were excellent when I re-financed my car loan with the a few years back.

Try to get adopted by Psyber ... then the problem will disappear.

dedja wrote:Try to get adopted by Psyber ... then the problem will disappear.

FFS, I'm trying man

Lightning McQueen wrote:

dedja wrote:Try to get adopted by Psyber ... then the problem will disappear.

FFS, I'm trying man

LOL

Two words:

Banking Ombudsman

Pseudo wrote:Two words:

Banking Ombudsman

I argued my $1300 back, I don't think there is anything he could do, I'm yet to see it deposited into my account yet though, it got taken out in a flash.

Lightning McQueen wrote:

Pseudo wrote:Two words:

Banking Ombudsman

I argued my $1300 back, I don't think there is anything he could do, I'm yet to see it deposited into my account yet though, it got taken out in a flash.

Can I ask which Bank your dealing with here?

a very unethical one by the sounds of it.

dedja wrote:a very unethical one by the sounds of it.

Gee, that really narrows it down

Quichey wrote:

dedja wrote:a very unethical one by the sounds of it.

Gee, that really narrows it down

yeah, good point ...

A lot can depend on who you are dealing with rather than which bank.
In particular, female bank officers are less inclined to flex the rules or ignore trivial details.
However, it is true that the more money you have the more cooperative banks become about giving you someone of your choice to deal with.
That's what I arranged as soon as I returned to Adelaide - a very nice bloke who manages a major branch.

I had a few problems in Melbourne with a female ANZ Premier Banking executive, when I was first there, in 1999, and didn't have the connections in the system.
A couple letters of complaint directly to the state manager, by-passing the lower management levels, got things sorted out to a fair extent though.
However, it is much easier when you actually know people personally.

Sometimes a bank you don't deal with will be fairly cooperative if you are considering transferring all you banking to them.
In the past I've had minor dealings with Westpac, and NAB, but found them rather rigid.
CBA were too, even with a lot of cash involved, so I quit dealing with them fairly promptly.
Now, I still deal mainly with the ANZ, but I do have a couple of BankSA accounts and they seem easy to get along with.
I have one at HSBC in case I need overseas services, but they are quite rigid and are getting up my nose.

Edit: "CBC" corrected to CBA.

Pseudo wrote:Two words:

Banking Ombudsman

yes sir Mr Byner

LM, why do you need to break the existing fixed rate? or is this something you want to do? As for saying they only break loans on a certain day each month is just crazy....never heard of that and Ive been in the industry for 21 years

Psyb - your going a fair way back with the CBC!!!!

I worked in a Bank 1977-1983
I quit as I was a consientious objector
In 1977 people used to rob banks
By 1983 the banks robbed the people

F.I.D tax was introduced back then to 'PINCH' the publics money.


1975-76 The first Bank teller to cash my first dole cheque was Malcolm Blight in the SBSA at Woodville Park across the road from Arndale

1983 One of the last customers I ever served swore at me and called me names several times
I would not cash the pricks cheque, as it was in joint names
I asked him to wait until I had authorisation
He continued to badger me in front of the other staff and several customers in the branch
I politely asked him to wait several times
Under severe provocation after a torrent of abuse I lost my cool and told him to f..k off


I was not dismissed
But I was subjected to several in house discussions in the branch and later in head office
Not one hobnob Bank person supported me

The customer is always right was so so

I took my annual leave for a month, and never returned to work
I quit


Banks GRRRRRRRRRRRR

Dutchy wrote:LM, why do you need to break the existing fixed rate? or is this something you want to do? As for saying they only break loans on a certain day each month is just crazy....never heard of that and Ive been in the industry for 21 years
Psyb - your going a fair way back with the CBC!!!!

Sorry - meant CBA for Commonwealth Bank of Australia.

Dutchy wrote:LM, why do you need to break the existing fixed rate? or is this something you want to do? As for saying they only break loans on a certain day each month is just crazy....never heard of that and Ive been in the industry for 21 years

Psyb - your going a fair way back with the CBC!!!!

I need some money to fix a few things up, I thought I'd get in now while the rates are probably at their lowest. As far as the breaking of loans thing on a particular day, I thought it was bizarre aswell, I asked them Friday if there was any way that they would like me to re-apply and they have not responded, I'm pretty p!ssed off, I've been a good banker with them, I have money in there and I look at their options first when making any banking decisions.

Lightning McQueen wrote:

Dutchy wrote:LM, why do you need to break the existing fixed rate? or is this something you want to do? As for saying they only break loans on a certain day each month is just crazy....never heard of that and Ive been in the industry for 21 years

Psyb - your going a fair way back with the CBC!!!!

I need some money to fix a few things up, I thought I'd get in now while the rates are probably at their lowest. As far as the breaking of loans thing on a particular day, I thought it was bizarre aswell, I asked them Friday if there was any way that they would like me to re-apply and they have not responded, I'm pretty p!ssed off, I've been a good banker with them, I have money in there and I look at their options first when making any banking decisions.

I understand that you want the extra $$ but you could take a seperate loan out and keep the existing one going, therefore no penalties for exiting the fixed rate contract....you would have 2 loans but this could save you $$$

Dutchy wrote:

Lightning McQueen wrote:

Dutchy wrote:LM, why do you need to break the existing fixed rate? or is this something you want to do? As for saying they only break loans on a certain day each month is just crazy....never heard of that and Ive been in the industry for 21 years

Psyb - your going a fair way back with the CBC!!!!

I need some money to fix a few things up, I thought I'd get in now while the rates are probably at their lowest. As far as the breaking of loans thing on a particular day, I thought it was bizarre aswell, I asked them Friday if there was any way that they would like me to re-apply and they have not responded, I'm pretty p!ssed off, I've been a good banker with them, I have money in there and I look at their options first when making any banking decisions.

I understand that you want the extra $$ but you could take a seperate loan out and keep the existing one going, therefore no penalties for exiting the fixed rate contract....you would have 2 loans but this could save you $$$

The way that it was going to pan out was that I was to borrow $20K, I'd lose $1300 in fees, my repayments were going to be $5 per month more for the next 12 months than what I am currently paying. I was going to fix it for 12 months, that way I could shop around in 10 months time for a better deal.
Borrowing the extra money was not going to be as appealing, with a young family I need as little as possible accounts to be paying on a monthly basis, that is why I wanted to use my house, even with the extra 20K I'd still be sitting way under the 80% safety net. We wanted the money to tie up some cards and other stuff that eats into our monthly budget, I know what your saying is very logical, it just doesn't suit us atm.