Talk Morgan Forums Community The Malvern Arms Online banking

Not meant in a rude manner but causing me to question my understanding.
Am I missing something as this seems to make sense to me.

Your rating is your ability to service and reliability in payment of credit facilities past and present. So if it were based on anything other than your history in credit agreements it would not be effective.
I agree it is odd that someone with little use of credit (therefore either frugal or cash positive) has a poor rating is odd but they could be terrible at paying on time and so could still risk a poor rating?

Well I don't think they make nothing out of running my account as I am of the belief that they use the surplus to earn income on, which at times would be well worth it, if they are not then they should be I could never feel sorry for a banker after the screwing over we all got from them .... we the tax payers via the Government dug them out of their hole they are an absolute shower..

We have had a couple of occasions to check their antifraud mechanism out and the black horse managed it well. They always want me to pay an extra £20 a month for an account that provides free services that I don't need such as you have provided.

I have a free Lloyds account - I used to have a paid one, but they wouldn't let me add my Mrs to the AA cover, and I don't go overseas anymore so It was pretty pointless, The money I save now pays for my AA cover (at a far higher spec than the one offered by Lloyds).

I have a reasonable credit rating - according to Clearscore, the Equifax National Average is 585/1000 and mine is 908/1000. I use credit cards a lot (especially for Morgan purchases) but tend to use balance transfers so my monthly bills don't have interest. Pay off more when I'm flush, and less when things are tight.

I have just emptied my savings paying for my 5 speed gearbox conversion, so am dipping into overdraft at the moment (the £500 MOT bill was not a welcome addition this month). I pay a few pence each day for the 'privilege'.

My banking needs are fairly simple, and find Lloyds are able to fulfil them.

Just one caution for those using a paid for account to provide travel insurance. I had one with Barclays and it limited cover to £3k per holiday. If you are in the habit of booking expensive trips once in a while, it won't cover you.

In essence I have a low credit rating because I am cash positive and I pay cash and everything on time. To increase my credit rating I'm now using my Barclaycard for all my purchases and clearing the balance in full every month.......yet I still have a low rating because I'm not upto my ears in debt, yet are more capable of discharging any debts than others that may have maxed out credit cards and make minimum monthly payments and most likely a higher credit rating than myself.

Unlikely - if they are using more than 30% of their available credit it negatively impacts their credit score.

Most of my cards have a £15-20K limit, so I keep well within the required limits, and it helps build my score.

I didn't realise that there was a 30% of available credit monitor........it just makes me smile. I paid for my Roadster in full by Debit Card and still have a low credit rating.

Yep - all done by the big credit rating agencies like Equifax and Experian. Unsurprisingly, they know a considerable amount about our finances.

I use Clearscore to keep an eye on everything - they also let me know if there have been any credit checks undertaken and do the odd sweep of the darkweb to see if any of my details have been compromised. Free to use.

I am starting to lose faith in the UK banking system and particularly telephone/online banking, even the cashiers in branch with the current total lack of customer care. My wife uses her maiden name, has done since we married back in '87, its an old Yorkshire name with links going back to King John when the family were first ennobled. She is the only one left in the family that uses it in full, being a double barrelled name her father living in Ireland since the late 50's dropped the Atkinson and just used the Jowett, as English names were not always helpful when doing business back then. Her siblings just use the Jowett part of the name.


So our joint bank accounts are in name J Harris and S Atkinson-Jowett , set up in the 80's so she could also pay in cheques in her married name of S Harris. So Sue receives a very nice Xmas box Euro cheque from her Dad in her married name. We check online and then with a service call will this be a problem to pay it into the account, reassured it is absolutely not a problem, but take marriage certificate and passport along to the branch when paying it in.
Go to pay it in this morning to be told quite coldly and off hand that the Cashiers are too busy to go back thru the online records and she can either get her father to sent a cheque in her maiden name, or we have to change all our accounts to S Harris as they would be linked (which she doesn't want) or open an account in another bank in the name S Harris. This was from a bank I have been with since 1971 and we have substantial funds deposited with.

Needless to say we are just back from opening a new account with another bank, no problems whatsoever and now considering transferring all our accounts. After 50 years of loyalty to that bank, we were just staggered by the cashiers approach and attitude this morning.

Arrogance never paints a pretty picture, we had a similar experience when dealing with Heather's Mum's estate with Barclays whom she banked with. Whatever they could possibly get wrong they did I wouldn't touch them with a barge pole, and they couldn't see it was a problem at all which was the real worrying thing with hindsight.

We are with the black horse and they seem alright for our straightforward requirement of a joint current account.