Have a large bill to pay towards the end of this month (new car) and not
quite enough liquid funds to cover it. Depending on exactly when I have to
pay it and when my monthly income arrives.

So to avoid any possible problems, thought I'd increase my (never used)
overdraft limit online.

My banking home page online says I can have far more than the amount I
need as an overdraft, so decide to apply for it. But I have two current
accounts, - my main one, and a very small one used for a club of which I'm
treasurer. And the only one I was offered that overdraft on was the club
one. The drop down choice for accounts when applying only showed it - not
my main one. So it's not just TSB who can't write software.

--
*Rehab is for quitters

Dave Plowman London SW
To e-mail, change noise into sound.

Well they probably think you have enough credit and enough funds on the
other one anyhow.
Many years ago I took out a bridging loan from GE Finance, very easy to do
and paid it back without an early termination fee. Does this sort of thing
not exist any more? Its been my experience that high street banks are the
last place to look except for payday loan sharks of course.
Brian

--
----- -
This newsgroup posting comes to you directly from...
The Sofa of Brian Gaff...

Blind user, so no pictures please!
"Dave Plowman (News)" wrote in message
...
Have a large bill to pay towards the end of this month (new car) and not
quite enough liquid funds to cover it. Depending on exactly when I have to
pay it and when my monthly income arrives.

So to avoid any possible problems, thought I'd increase my (never used)
overdraft limit online.

My banking home page online says I can have far more than the amount I
need as an overdraft, so decide to apply for it. But I have two current
accounts, - my main one, and a very small one used for a club of which I'm
treasurer. And the only one I was offered that overdraft on was the club
one. The drop down choice for accounts when applying only showed it - not
my main one. So it's not just TSB who can't write software.

--
*Rehab is for quitters

Dave Plowman London SW
To e-mail, change noise into sound.

On Wednesday, 25 April 2018 00:01:56 UTC+1, Dave Plowman (News) wrote:
Have a large bill to pay towards the end of this month (new car) and not
quite enough liquid funds to cover it.

So it wasn't you that won the £121 Euro Millions then?

The chances of it being anyone I know, even vaguely online, are shrinking by the hour.

Owain

These amounts are, quite frankly obscene to most people. Either create many
winners of a million or do something good with anything over 10 million.
Brian

--
----- -
This newsgroup posting comes to you directly from...
The Sofa of Brian Gaff...

Blind user, so no pictures please!
wrote in message
...
On Wednesday, 25 April 2018 00:01:56 UTC+1, Dave Plowman (News) wrote:
Have a large bill to pay towards the end of this month (new car) and not
quite enough liquid funds to cover it.

So it wasn't you that won the £121 Euro Millions then?

The chances of it being anyone I know, even vaguely online, are shrinking by
the hour.

Owain

In article ,
Brian Gaff wrote:
Well they probably think you have enough credit and enough funds on the
other one anyhow.

It might be that. At one time when working I had a pretty large (for me)
overdraft limit on the same account. Having been retired for some time now
and never having needed to go overdrawn, it's been reduced to a few
hundred. Not quite enough for safety in this instance.

Many years ago I took out a bridging loan from GE Finance, very easy to
do and paid it back without an early termination fee. Does this sort of
thing not exist any more? Its been my experience that high street banks
are the last place to look except for payday loan sharks of course.

A straight overdraft would have been ideal in my case as it might well not
be needed - or paid off very quickly.

--
*A clear conscience is usually the sign of a bad memory *

Dave Plowman London SW
To e-mail, change noise into sound.

In article ,
wrote:
On Wednesday, 25 April 2018 00:01:56 UTC+1, Dave Plowman (News) wrote:
Have a large bill to pay towards the end of this month (new car) and
not quite enough liquid funds to cover it.

So it wasn't you that won the £121 Euro Millions then?

Definitely not me. Reason I can afford a 'new' car is by not wasting money
on gambling. ;-)

The chances of it being anyone I know, even vaguely online, are
shrinking by the hour.

My mother oddly was pretty lucky with such things. Even to the point of
drawing her own ticket once at a raffle. Sadly, I didn't inherit that sort
of luck.

--
*You! Off my planet!

Dave Plowman London SW
To e-mail, change noise into sound.

On 25/04/18 07:40, Brian Gaff wrote:
[...]Its been my experience that high street banks are the
last place to look except for payday loan sharks of course.
Brian


Although I understand the payday loan sharks are used by the canny poor
because they know that if they get to the end of the month and incur
penalty charges on phone, loan, cards etc they will be fleeced. Better
to pay the outrageous fees to a payday loan shark than to let the high
street banks get at you.

It's a sobering thought but wonga exists because the likes of Barclays
and Lloyds are even worse.

TW

On Wednesday, 25 April 2018 10:57:43 UTC+1, Dave Plowman (News) wrote:
In article ,
wrote:
On Wednesday, 25 April 2018 00:01:56 UTC+1, Dave Plowman (News) wrote:
Have a large bill to pay towards the end of this month (new car) and
not quite enough liquid funds to cover it.

So it wasn't you that won the £121 Euro Millions then?

Definitely not me.

Don;t think its me, but I did 'win' £5.20 two weeks ago.

Reason I can afford a 'new' car is by not wasting money
on gambling. ;-)

I don't consider it gambling if I can afford to lose.
But if you did know the person that won £121 Euro Millions would you call them an idiot for gambling ?
While waiting for glue to dry I was watching roulette on TV last night, just as black 28 came up twice in a row.


The chances of it being anyone I know, even vaguely online, are
shrinking by the hour.

My mother oddly was pretty lucky with such things. Even to the point of
drawing her own ticket once at a raffle. Sadly, I didn't inherit that sort
of luck.

luck is an odd concept.


--
*You! Off my planet!

Oi, you, get-out-ta my pub. the EE version.


Dave Plowman London SW
To e-mail, change noise into sound.

In article ,
whisky-dave wrote:
On Wednesday, 25 April 2018 10:57:43 UTC+1, Dave Plowman (News) wrote:
In article ,
wrote:
On Wednesday, 25 April 2018 00:01:56 UTC+1, Dave Plowman (News) wrote:
Have a large bill to pay towards the end of this month (new car) and
not quite enough liquid funds to cover it.

So it wasn't you that won the £121 Euro Millions then?

Definitely not me.

Don;t think its me, but I did 'win' £5.20 two weeks ago.

Hope that made your day. How much did that 5.20 cost you to win?

Reason I can afford a 'new' car is by not wasting money
on gambling. ;-)

I don't consider it gambling if I can afford to lose.

Is that some form of denial? ;-) Most gamble because they hope to win.

But if you did
know the person that won £121 Euro Millions would you call them an idiot
for gambling ?

No - just all the others who paid for him.


While waiting for glue to dry I was watching roulette on
TV last night, just as black 28 came up twice in a row.

You watch gambling on TV? Each to their own. ;-)


The chances of it being anyone I know, even vaguely online, are
shrinking by the hour.

My mother oddly was pretty lucky with such things. Even to the point
of drawing her own ticket once at a raffle. Sadly, I didn't inherit
that sort of luck.

luck is an odd concept.

--
*I love cats...they taste just like chicken.

Dave Plowman London SW
To e-mail, change noise into sound.

On Wednesday, 25 April 2018 11:15:57 UTC+1, TimW wrote:
On 25/04/18 07:40, Brian Gaff wrote:

[...]Its been my experience that high street banks are the
last place to look except for payday loan sharks of course.
Brian


Although I understand the payday loan sharks are used by the canny poor
because they know that if they get to the end of the month and incur
penalty charges on phone, loan, cards etc they will be fleeced. Better
to pay the outrageous fees to a payday loan shark than to let the high
street banks get at you.

It's a sobering thought but wonga exists because the likes of Barclays
and Lloyds are even worse.

TW

I've never heard of high street banks charging anything like the crazy prices of wonga et al. They just refuse to loan. As bad as payday lenders are, they're still an improvement on illegal loan sharks, which is why they're permitted.


NT

On 25/04/2018 11:15, TimW wrote:
On 25/04/18 07:40, Brian Gaff wrote:
[...]Its been my experience that high street banks are the
last place to look except for payday loan sharks of course.
Brian


Although I understand the payday loan sharks are used by the canny poor
because they know that if they get to the end of the month and incur
penalty charges on phone, loan, cards etc they will be fleeced. Better
to pay the outrageous fees to a payday loan shark than to let the high
street banks get at you.

It's a sobering thought but wonga exists because the likes of Barclays
and Lloyds are even worse.

TW

They exist because the likes of Barclays and Lloyds won't lend people
money that they can't afford to pay back
Lenders like wonga will lend money to almost anyone and send the heavy
mob around if they don't pay.
They are not in the same leagues.

On 25/04/2018 10:18, Brian Gaff wrote:
These amounts are, quite frankly obscene to most people. Either create many
winners of a million or do something good with anything over 10 million.

How do you know what they need?
How do you know what they are doing with it?

On 25/04/2018 00:01, Dave Plowman (News) wrote:
Have a large bill to pay towards the end of this month (new car) and not
quite enough liquid funds to cover it. Depending on exactly when I have to
pay it and when my monthly income arrives.

Interest-free credit card(s) and pay off the balance in full before
the due date ?.

People were buying houses at auction like this back in the mid
noughties.

On 25/04/2018 10:18, Brian Gaff wrote:
These amounts are, quite frankly obscene to most people. Either create many
winners of a million or do something good with anything over 10 million.
Brian


If you do that the number of people 'playing' will crash, so
it's self defeating. Think of all the lolly that the lottery
commission hand out, to pay for things that don't have to be
funded out of general taxation. Also taxes the black economy
nicely too.

In article ,
Andrew wrote:
On 25/04/2018 00:01, Dave Plowman (News) wrote:
Have a large bill to pay towards the end of this month (new car) and
not quite enough liquid funds to cover it. Depending on exactly when I
have to pay it and when my monthly income arrives.

Interest-free credit card(s) and pay off the balance in full before
the due date ?.

A good ol' fashioned overdraft is what I wanted. That is designed for my
purpose. A short term variable amount loan.

I've absolutely no idea how you set about transferring cash from a credit
card to a current account. The other way, yes. ;-)

People were buying houses at auction like this back in the mid
noughties.

--
*Velcro - what a rip off!*

Dave Plowman London SW
To e-mail, change noise into sound.

"Andrew" wrote in message
news
On 25/04/2018 10:18, Brian Gaff wrote:
These amounts are, quite frankly obscene to most people. Either create
many
winners of a million or do something good with anything over 10 million.
Brian


If you do that the number of people 'playing' will crash, so
it's self defeating.

the jury is out on how having harder to win larger amounts affects the
number of tickets bought

The initial results from when Camelot increased the number of balls and then
had multiple roll overs before it was won showed a decline in participation

That they haven't (I believe) reversed that move suggest that that are
taking a longer view

tim

"Dave Plowman (News)" wrote in message
...
In article ,
wrote:
On Wednesday, 25 April 2018 00:01:56 UTC+1, Dave Plowman (News) wrote:
Have a large bill to pay towards the end of this month (new car) and
not quite enough liquid funds to cover it.

So it wasn't you that won the £121 Euro Millions then?

Definitely not me. Reason I can afford a 'new' car is by not wasting money
on gambling. ;-)

I can afford a new car because I haven't spent 40 years of adulthood buying
new cars

tim

On Wednesday, 25 April 2018 14:01:50 UTC+1, Dave Plowman (News) wrote:
In article ,
whisky-dave wrote:
On Wednesday, 25 April 2018 10:57:43 UTC+1, Dave Plowman (News) wrote:
In article ,
wrote:
On Wednesday, 25 April 2018 00:01:56 UTC+1, Dave Plowman (News) wrote:
Have a large bill to pay towards the end of this month (new car) and
not quite enough liquid funds to cover it.

So it wasn't you that won the £121 Euro Millions then?

Definitely not me.

Don;t think its me, but I did 'win' £5.20 two weeks ago.

Hope that made your day.

Didnlt know until last night I won on the 18th April.
Not sure I should spend it all at ounce though.


How much did that 5.20 cost you to win?

Not sure, I do it on-line and added £55 to my lottery account then about 2 tickets twice a week, so will last about 2 months. This replaces what I used to spend on drink each weekend.
I'd have 3-4 pints on friday & saturday in the pub and at £3-£5 a pint...
Now I rarely have more than 2 and have only been to the pub once this month, and at the weekends tend to visit friends, where I drink 1-2 bottles of ale at £1.29 each, so I have more disposable income and use part of that for lottery money, I also donated £20 to someone doing a swimathon for cancer UK, not sure I'll make any money out of that either.
So I don't know how much it costs me to win £5.20 I wonder how much it cost the person to win £121 million.



Reason I can afford a 'new' car is by not wasting money
on gambling. ;-)

I don't consider it gambling if I can afford to lose.

Is that some form of denial? ;-) Most gamble because they hope to win.

I hope to win like I hope not to be struck by lightning or not be run over or not get cancer. For me ~£4 to £10 a week is not a significant amount.
What sort of car can you buy instead of spending £4-£10 a week, what can you get for £200-£500 a year ?
I've heard you can hire a BMW5 for £49 a day.

As I said I used to spend 4x that on beer in a day and it's probbaly better for my health too.
Sometimes I'll even do an on-line scratch card if I'm in the mood.


But if you did
know the person that won £121 Euro Millions would you call them an idiot
for gambling ?

No - just all the others who paid for him.

He too was once one of the others, he probbaly paid for my £5.20 too what a mug.

But I'd rather take a chance and spend £2.50 on a raffle ticket than £4.50 for the 3rd or 4th pint.

While waiting for glue to dry I was watching roulette on
TV last night, just as black 28 came up twice in a row.

You watch gambling on TV? Each to their own. ;-)

It was after whatever I was watching and I had my hand help against the temperature sensor from my old HDD sticking it to my new SSD to put in my mac mini, a fiddly job those little connectors.
At least I was absorbing fake news. It's quite funny listening to what some of the compares come out with.
I;d rather watch roulette than 2 and half men or sex in the city as it;s more educational as it;s all about odds and probability, and it was interesting how the block explined that 28 can come up twice as the number 28 is as likley to come up as anyother number becasue of the FIXED odds in roulette, which isn't true or horse racign or many gambling games.

Reading the T&Cs is also informative and gets you used to T&Cs and how to interpret them. I do wonder why the games aren't avaible in northern island.

On Wednesday, 25 April 2018 15:06:46 UTC+1, Dave Plowman (News) wrote:
In article ,
Andrew wrote:
On 25/04/2018 00:01, Dave Plowman (News) wrote:
Have a large bill to pay towards the end of this month (new car) and
not quite enough liquid funds to cover it. Depending on exactly when I
have to pay it and when my monthly income arrives.

Interest-free credit card(s) and pay off the balance in full before
the due date ?.

A good ol' fashioned overdraft is what I wanted. That is designed for my
purpose. A short term variable amount loan.

I've absolutely no idea how you set about transferring cash from a credit
card to a current account. The other way, yes. ;-)

Can't you take the csh out at an ATM then put it back in again into a differnt account. ?

I was behind a chinese girl who has £3,000 in cash and was putting it into an ATM apparently you can only put £50 in at a time, unless ther ewas another reason she was counting it out in 50s.





People were buying houses at auction like this back in the mid
noughties.

I would too if I was making enough profit from it.


--
*Velcro - what a rip off!*

Dave Plowman London SW
To e-mail, change noise into sound.

In article ,
tim... wrote:


"Dave Plowman (News)" wrote in message
...
In article ,
wrote:
On Wednesday, 25 April 2018 00:01:56 UTC+1, Dave Plowman (News)
wrote:
Have a large bill to pay towards the end of this month (new car)
and not quite enough liquid funds to cover it.

So it wasn't you that won the £121 Euro Millions then?

Definitely not me. Reason I can afford a 'new' car is by not wasting
money on gambling. ;-)

I can afford a new car because I haven't spent 40 years of adulthood
buying new cars

Rather the same here. Never have bought a new car and doubt I ever will.

--
*WHERE DO FOREST RANGERS GO TO "GET AWAY FROM IT ALL?"

Dave Plowman London SW
To e-mail, change noise into sound.

On 25/04/18 10:52, Dave Plowman (News) wrote:
In article ,
wrote:
On Wednesday, 25 April 2018 00:01:56 UTC+1, Dave Plowman (News) wrote:
Have a large bill to pay towards the end of this month (new car) and
not quite enough liquid funds to cover it.

So it wasn't you that won the £121 Euro Millions then?

Definitely not me. Reason I can afford a 'new' car is by not wasting money
on gambling. ;-)

Yet you need an overdraft.

On 25/04/18 16:55, Dave Plowman (News) wrote:
In article ,
tim... wrote:


"Dave Plowman (News)" wrote in message
...
In article ,
wrote:
On Wednesday, 25 April 2018 00:01:56 UTC+1, Dave Plowman (News)
wrote:
Have a large bill to pay towards the end of this month (new car)
and not quite enough liquid funds to cover it.

So it wasn't you that won the £121 Euro Millions then?

Definitely not me. Reason I can afford a 'new' car is by not wasting
money on gambling. ;-)

I can afford a new car because I haven't spent 40 years of adulthood
buying new cars

Rather the same here. Never have bought a new car and doubt I ever will.

Oh. Overdraft declined?

On 25/04/2018 15:57, tim... wrote:


"Andrew" wrote in message
news
On 25/04/2018 10:18, Brian Gaff wrote:
These amounts are, quite frankly obscene to most people. Either
create many
winners of a million or do something good with anything over 10 million.
Â* Brian


If you do that the number of people 'playing' will crash, so
it's self defeating.

the jury is out on how having harder to win larger amounts affects the
number of tickets bought

The initial results from when Camelot increased the number of balls and
then had multiple roll overs before it was won showed a decline in
participation

That they haven't (I believe) reversed that move suggest that that are
taking a longer view

tim





Most local authorities ran their own lotteries. There was always
a kiosk on Worthing promenade selling tickets to raise money for
local things. The prizes were modest, but as soon as the National
Lottery started people stopped buying Worthing lottery tickets and
it folded. The same happened all over the country.

People are definately motivated by the thought of mega-prizes, but
fail to appreciate the massively increased odds.

In article ,
Richard wrote:
On 25/04/18 10:52, Dave Plowman (News) wrote:
In article ,
wrote:
On Wednesday, 25 April 2018 00:01:56 UTC+1, Dave Plowman (News)
wrote:
Have a large bill to pay towards the end of this month (new car) and
not quite enough liquid funds to cover it.

So it wasn't you that won the £121 Euro Millions then?

Definitely not me. Reason I can afford a 'new' car is by not wasting
money on gambling. ;-)

Yet you need an overdraft.

I'm sure you just ask mommy for the money.

--
*I'm reading a book about anti-gravity. I just can't put it down.*

Dave Plowman London SW
To e-mail, change noise into sound.

In article ,
says...

I've absolutely no idea how you set about transferring cash from a credit
card to a current account. The other way, yes. ;-)


Use the credit card for all your everday spending as far as
possible - you won't pay interest on it unless you don't pay
it all back by the due date whereas if you borrow cash,
inerest is charged from day one.

If that still hasn't freed up enough cash in the current
account when the time comes to pay for the car, can't you pay
for part of it using a credit card?

Might depend on if it's a private sale or a dealer.

--

Terry

---
This email has been checked for viruses by AVG.
http://www.avg.com

On 25/04/18 18:16, Dave Plowman (News) wrote:
In article ,
Richard wrote:
On 25/04/18 10:52, Dave Plowman (News) wrote:
In article ,
wrote:
On Wednesday, 25 April 2018 00:01:56 UTC+1, Dave Plowman (News)
wrote:
Have a large bill to pay towards the end of this month (new car) and
not quite enough liquid funds to cover it.

So it wasn't you that won the £121 Euro Millions then?

Definitely not me. Reason I can afford a 'new' car is by not wasting
money on gambling. ;-)

Yet you need an overdraft.

I'm sure you just ask mommy for the money.

She died about twenty three years ago -a few months after daddy so, no I
don't.

In article , "Dave Plowman (News)"
writes
In article ,
tim... wrote:


"Dave Plowman (News)" wrote in message
...
In article ,
wrote:
On Wednesday, 25 April 2018 00:01:56 UTC+1, Dave Plowman (News)
wrote:
Have a large bill to pay towards the end of this month (new car)
and not quite enough liquid funds to cover it.

So it wasn't you that won the £121 Euro Millions then?

Definitely not me. Reason I can afford a 'new' car is by not wasting
money on gambling. ;-)

I can afford a new car because I haven't spent 40 years of adulthood
buying new cars

Rather the same here. Never have bought a new car and doubt I ever will.

Haven't you? We've had 15 if you include my ex-demo Defender which had
10 miles on the clock and had never been out the showroom. If it weren't
for people like me there'd be no second hand cars for you to buy.
--
bert

Richard wrote
Dave Plowman (News) wrote
wrote
Dave Plowman (News) wrote

Have a large bill to pay towards the end of this month (new car) and
not quite enough liquid funds to cover it.

So it wasn't you that won the £121 Euro Millions then?

Definitely not me. Reason I can afford a 'new' car is by not wasting
money on gambling. ;-)

Yet you need an overdraft.

Only because of the timing of the incoming cash and the purchase.

On 25/04/18 14:12, wrote:
On Wednesday, 25 April 2018 11:15:57 UTC+1, TimW wrote:
On 25/04/18 07:40, Brian Gaff wrote:

[...]Its been my experience that high street banks are the
last place to look except for payday loan sharks of course.
Brian


Although I understand the payday loan sharks are used by the canny poor
because they know that if they get to the end of the month and incur
penalty charges on phone, loan, cards etc they will be fleeced. Better
to pay the outrageous fees to a payday loan shark than to let the high
street banks get at you.

It's a sobering thought but wonga exists because the likes of Barclays
and Lloyds are even worse.

TW

I've never heard of high street banks charging anything like the crazy prices of wonga et al. They just refuse to loan. As bad as payday lenders are, they're still an improvement on illegal loan sharks, which is why they're permitted.


The point of the wonga loan is that it's available for a week or two.
The apr therefore looks crazy but that isn't what it's for. If you are a
bit skint you can get to the end of the month and have to pay late
charges on cards, on a phone account, at £10 or £20 a time, maybe
unauthorised overdraft charges, hiked interest as well, all for being a
week behind and you will pay a lot more in total than if you go to a
payday loan provider.

TW

On 25/04/18 14:41, dennis@home wrote:
On 25/04/2018 11:15, TimW wrote:
On 25/04/18 07:40, Brian Gaff wrote:
[...]Its been my experience that high street banks are the
last place to look except for payday loan sharks of course.
Brian


Although I understand the payday loan sharks are used by the canny
poor because they know that if they get to the end of the month and
incur penalty charges on phone, loan, cards etc they will be fleeced.
Better to pay the outrageous fees to a payday loan shark than to let
the high street banks get at you.

It's a sobering thought but wonga exists because the likes of Barclays
and Lloyds are even worse.

TW

They exist because the likes of Barclays and Lloyds won't lend people
money that they can't afford to pay back
Lenders like wonga will lend money to almost anyone and send the heavy
mob around if they don't pay.
They are not in the same leagues.

Actually if you are getting into trouble Barclays and Lloyds will start
to increase your costs and rob you as fast as they can, knowing you
can't afford to pay it back.

TW

In article ,
Terry Casey wrote:
In article ,
says...

I've absolutely no idea how you set about transferring cash from a
credit card to a current account. The other way, yes. ;-)


Use the credit card for all your everday spending as far as
possible - you won't pay interest on it unless you don't pay
it all back by the due date whereas if you borrow cash,
inerest is charged from day one.

That doesn't help me to get the extra I need near immediately.

If that still hasn't freed up enough cash in the current
account when the time comes to pay for the car, can't you pay
for part of it using a credit card?

Might depend on if it's a private sale or a dealer.

The deal I hammered out included paying by bank transfer, not credit or
debit card.

--
*White with a hint of M42*

Dave Plowman London SW
To e-mail, change noise into sound.

In article ,
bert wrote:
I can afford a new car because I haven't spent 40 years of adulthood
buying new cars

Rather the same here. Never have bought a new car and doubt I ever will.

Haven't you? We've had 15 if you include my ex-demo Defender which had
10 miles on the clock and had never been out the showroom. If it weren't
for people like me there'd be no second hand cars for you to buy.

I very much doubt I'd be interested in the sort of cars you'd buy new.
Certainly not an agricultural vehicle like a Defender. But then I live in
London, not a farm.

--
*Time is what keeps everything from happening at once.

Dave Plowman London SW
To e-mail, change noise into sound.

In article ,
TimW wrote:
On 25/04/18 14:41, dennis@home wrote:
On 25/04/2018 11:15, TimW wrote:
On 25/04/18 07:40, Brian Gaff wrote:
[...]Its been my experience that high street banks are the
last place to look except for payday loan sharks of course.
Brian


Although I understand the payday loan sharks are used by the canny
poor because they know that if they get to the end of the month and
incur penalty charges on phone, loan, cards etc they will be fleeced.
Better to pay the outrageous fees to a payday loan shark than to let
the high street banks get at you.

It's a sobering thought but wonga exists because the likes of
Barclays and Lloyds are even worse.

TW

They exist because the likes of Barclays and Lloyds won't lend people
money that they can't afford to pay back
Lenders like wonga will lend money to almost anyone and send the heavy
mob around if they don't pay.
They are not in the same leagues.

Actually if you are getting into trouble Barclays and Lloyds will start
to increase your costs and rob you as fast as they can, knowing you
can't afford to pay it back.

Quite. When looking into this, I was surprised just how much an
unauthorised overdraft could cost these days. Some certainly pay for
'free' banking now.

--
*The hardness of the butter is proportional to the softness of the bread *

Dave Plowman London SW
To e-mail, change noise into sound.

On 25/04/2018 23:44, Dave Plowman (News) wrote:
In article ,
TimW wrote:
On 25/04/18 14:41, dennis@home wrote:
On 25/04/2018 11:15, TimW wrote:
On 25/04/18 07:40, Brian Gaff wrote:
[...]Its been my experience that high street banks are the
last place to look except for payday loan sharks of course.
Brian


Although I understand the payday loan sharks are used by the canny
poor because they know that if they get to the end of the month and
incur penalty charges on phone, loan, cards etc they will be fleeced.
Better to pay the outrageous fees to a payday loan shark than to let
the high street banks get at you.

It's a sobering thought but wonga exists because the likes of
Barclays and Lloyds are even worse.

TW

They exist because the likes of Barclays and Lloyds won't lend people
money that they can't afford to pay back
Lenders like wonga will lend money to almost anyone and send the heavy
mob around if they don't pay.
They are not in the same leagues.

Actually if you are getting into trouble Barclays and Lloyds will start
to increase your costs and rob you as fast as they can, knowing you
can't afford to pay it back.

Quite. When looking into this, I was surprised just how much an
unauthorised overdraft could cost these days. Some certainly pay for
'free' banking now.


The key here is unauthorised.
You are comparing taking someones money without permission with taking
someones with permission.
If you ask the bank for an overdraft and they say yes then its much
cheaper than the likes of wonga.

On 25/04/2018 23:22, TimW wrote:
On 25/04/18 14:41, dennis@home wrote:
On 25/04/2018 11:15, TimW wrote:
On 25/04/18 07:40, Brian Gaff wrote:
[...]Its been my experience that high street banks are the
last place to look except for payday loan sharks of course.
Brian


Although I understand the payday loan sharks are used by the canny
poor because they know that if they get to the end of the month and
incur penalty charges on phone, loan, cards etc they will be fleeced.
Better to pay the outrageous fees to a payday loan shark than to let
the high street banks get at you.

It's a sobering thought but wonga exists because the likes of
Barclays and Lloyds are even worse.

TW

They exist because the likes of Barclays and Lloyds won't lend people
money that they can't afford to pay back
Lenders like wonga will lend money to almost anyone and send the heavy
mob around if they don't pay.
They are not in the same leagues.

Actually if you are getting into trouble Barclays and Lloyds will start
to increase your costs and rob you as fast as they can, knowing you
can't afford to pay it back.

I've often thought this too.

Loan companies have to provide an APR which includes any fees to setup
the loan.

I have never understood why banks seem to be immune to including these
fees in any APR calculation.

Same for mortgages too.

On Wednesday, 25 April 2018 23:18:08 UTC+1, TimW wrote:
On 25/04/18 14:12, tabbypurr wrote:
On Wednesday, 25 April 2018 11:15:57 UTC+1, TimW wrote:
On 25/04/18 07:40, Brian Gaff wrote:

[...]Its been my experience that high street banks are the
last place to look except for payday loan sharks of course.
Brian


Although I understand the payday loan sharks are used by the canny poor
because they know that if they get to the end of the month and incur
penalty charges on phone, loan, cards etc they will be fleeced. Better
to pay the outrageous fees to a payday loan shark than to let the high
street banks get at you.

It's a sobering thought but wonga exists because the likes of Barclays
and Lloyds are even worse.

TW

I've never heard of high street banks charging anything like the crazy prices of wonga et al. They just refuse to loan. As bad as payday lenders are, they're still an improvement on illegal loan sharks, which is why they're permitted.


The point of the wonga loan is that it's available for a week or two.
The apr therefore looks crazy but that isn't what it's for. If you are a
bit skint you can get to the end of the month and have to pay late
charges on cards, on a phone account, at £10 or £20 a time, maybe
unauthorised overdraft charges, hiked interest as well, all for being a
week behind and you will pay a lot more in total than if you go to a
payday loan provider.

TW

Sure, but clearly there are a couple of things wrong with that picture.


NT

On Wednesday, 25 April 2018 23:22:56 UTC+1, TimW wrote:
On 25/04/18 14:41, dennis@home wrote:
On 25/04/2018 11:15, TimW wrote:
On 25/04/18 07:40, Brian Gaff wrote:
[...]Its been my experience that high street banks are the
last place to look except for payday loan sharks of course.
Brian


Although I understand the payday loan sharks are used by the canny
poor because they know that if they get to the end of the month and
incur penalty charges on phone, loan, cards etc they will be fleeced.
Better to pay the outrageous fees to a payday loan shark than to let
the high street banks get at you.

It's a sobering thought but wonga exists because the likes of Barclays
and Lloyds are even worse.

TW

They exist because the likes of Barclays and Lloyds won't lend people
money that they can't afford to pay back
Lenders like wonga will lend money to almost anyone and send the heavy
mob around if they don't pay.
They are not in the same leagues.

Actually if you are getting into trouble Barclays and Lloyds will start
to increase your costs and rob you as fast as they can, knowing you
can't afford to pay it back.

TW

do they charge over 500%?


NT

Dave Plowman wrote:

When looking into this, I was surprised just how much an unauthorised
overdraft could cost these days. Some certainly pay for 'free'
banking now.

Unauthorised overdrafts have always been expensive.

My bank gives a £250 free overdraft, then £1.50/day up to £1200,
followed by £1000 of emergency borrowing for £5/day, it has a £15 buffer
zone where you won't be charged extra between the tiers.

Higher overdraft limit is available for 1.5%/year arrangement fee

wrote:

TimW wrote:

if you are getting into trouble Barclays and Lloyds will start
to increase your costs and rob you as fast as they can

do they charge over 500%?
In marginal cases yes ... If you have a standard Barclays current
account, and daft enough to go £16 overdrawn for a year you'd pay
(365*0.75)/16 = 1710% of course they call it a daily fee not an interest
rate.

Andy Burns wrote:

(365*0.75)/16 = 1710%
oh scratch that, they charge for a maximum of 7 days each month, so

(12*7*0.75)/16 = 393%