Banks - Why Don't They Let You Haggle With Them?

[The Fat el Hombre]

I was opening a bank account a bit back at one bank, and basically I was left in a situation where I had to get a load of cash from another bank for the deposit, so off I trotted to get the money. When I got there, the guy at the counter told me that his bank had the same account as the other one I was opening with the other bank. 'What's your interest rate?' I asked, he showed me a leaflet and it turned out to be a fraction of what the other bank was offering. I said 'no thanks mate, the interest rate just dosn't compare', and he just sat there not doing anything. I thought to myself - 'Aren't you going to haggle?, Why won't this guy make me an offer?' Surely his bank want to keep this cash I'm taking out and it would be only right to at least make an offer and then maybe we can take things from there. I was hoping to be walking up from one bank to another, haggling and getting myself a better deal before settling on the better choice, but ufortunately this didn't happen. Why not?

Or do they let you haggle? Can I go into a bank, point to a good credit rating and deposit, and haggle a better rate for my mortgage?

 

[Esteban de la Sexface]

I was opening a bank account a bit back at one bank, and basically I was left in a situation where I had to get a load of cash from another bank for the deposit, so off I trotted to get the money. When I got there, the guy at the counter told me that his bank had the same account as the other one I was opening with the other bank. 'What's your interest rate?' I asked, he showed me a leaflet and it turned out to be a fraction of what the other bank was offering. I said 'no thanks mate, the interest rate just dosn't compare', and he just sat there not doing anything. I thought to myself - 'Aren't you going to haggle?, Why won't this guy make me an offer?' Surely his bank want to keep this cash I'm taking out and it would be only right to at least make an offer and then maybe we can take things from there. I was hoping to be walking up from one bank to another, haggling and getting myself a better deal before settling on the better choice, but ufortunately this didn't happen. Why not?

Or do they let you haggle? Can I go into a bank, point to a good credit rating and deposit, and haggle a better rate for my mortgage?

not unless it was quite a substantial amount of money.

*edit* and even then they are slippery bastards

 

[The Fat el Hombre]

Are you telling me that 500 quid is not a substantial amount of money. Fuck me I was ready to give Mervyn king a ring and sort this transaction face to face

 

[Esteban de la Sexface]

Are you telling me that 500 quid is not a substantial amount of money. Fuck me I was ready to give Mervyn king a ring and sort this transaction face to face

in fairness he probably uses 500 pund notes to drain his rashers.. give this lad a shout..

[youtube]http://www.youtube.com/watch?v=dSJ-cI3ofX8&feature=related[/youtube]

 

[Prestwich_Blue]

I know what you mean - no business acumen. I asked to withdraw £50 from my account and said I'd give them £40 for it and they didn't want to know. Tried a few other branches but just the same.

 

[denislawsbackheel]

Interestingly it appears that the bank charges palaver is going to get up again on exactly that point, that banks did not negotiate accounts individually with customers.

 

[without a dream]

Interestingly it appears that the bank charges palaver is going to get up again on exactly that point, that banks did not negotiate accounts individually with customers.

I'm not really up on finance but I don't understand how they can get away with the charges. If you have an overdraft LIMIT surely transactions should just be declined rather than accepted then whacking a £40 charge on you?

 

[KinkyAfro]

Interestingly it appears that the bank charges palaver is going to get up again on exactly that point, that banks did not negotiate accounts individually with customers.

I'm not really up on finance but I don't understand how they can get away with the charges. If you have an overdraft LIMIT surely transactions should just be declined rather than accepted then whacking a £40 charge on you?

Its how they make their money unfortunately. If they didnt/couldnt charge customers for going over their limit then they'd just charge you a fee for simply having an account with them.

 

[quiet_riot]

All the banks are run by the higher ups, so you never win anyway. I reckon there's about 5 blokes who run the country, all our money goes to them anyway.


/conspiracy theory.

 

[The Fat el Hombre]

I know what you mean - no business acumen. I asked to withdraw £50 from my account and said I'd give them £40 for it and they didn't want to know. Tried a few other branches but just the same.

Complete wankers the lot of em pal