Why does bank ring me to see if Im ok, every few months

Discussion in 'Loans & Mortgage Brokers' started by Gill Bates, 5th May, 2019.

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  1. Gill Bates

    Gill Bates Well-Known Member

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    Bank seems to ring me every 3 - 5 months to see if Im "OK" for last 3 -4 years
    Happy with bank, bank services
    I always ask for discount etc.
    After some general chat , They always ask me what my plans are.

    So I think they are liking to sell me more loans or financial products
    My loans are only about $250K with LVR of about 10%

    I'm guessing, they waiting for me to say something, where they can intro a new financial product? loans , super investment etc

    I'm not particularly interested in more loans since I think my cash flow would not support that.
    I'm more interested in reducing loans , since I may go into semi retirement ( soon - 1- 3 years )

    Anyone get similar calls from their financial institution ( bank is NAB ) ?
     
  2. wylie

    wylie Moderator Staff Member

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    We also get these calls. I don't say too much. Any changes we make will be coordinated via our broker.
     
  3. qak

    qak Well-Known Member

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    I used to get these from CBA, seems to have stopped now.
     
  4. Beano

    Beano Well-Known Member

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    1: The banker has a crush on you
    2: they want to sell more services
    3: manager was looking so to look busy he rings all his customers
    4: the bank conditions is loans only to people that are alive ..so they need to check all customers
    5: the bank clerk gets paid on paid a bonus on phone calls
    6: he rung you by mistake
    7: he is switching banks soon so he wants to get a rapport with you and get you to switch banks
    8: he is leaving the bank and wants a job with you
    :)
     
  5. Scott No Mates

    Scott No Mates Well-Known Member

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    Are they still in business?
     
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  6. Harry30

    Harry30 Well-Known Member

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    Every time they call me, I say I am not happy and ask for a discount on all my loans. Hey, you never miss an opportunity. Haven’t received a call for a while.
     
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  7. datto

    datto Well-Known Member

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    That's funny. I've been with NAB for a few years and they don't even return my calls. Stop hogging my customer service officer!
     
  8. truong

    truong Well-Known Member

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    A month ago our bank rang and suggested a review of our whole relationship with them. We went along and were able to squeeze an extra 0.11% from all our loans plus an additional credit card. In return we bought an insurance policy from them that was cheaper.

    I think they’re trying to get us to deal directly with them and cut out our broker. I wonder if this rate cut will affect our broker’s trail.
     
  9. MRO

    MRO Well-Known Member

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    I always ask for a further interest rate discount. It works occasionally.
     
  10. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    I'm with Westpac and it annoys me. They are peddling product. Thats all. Each time ist something different. Super, insurance, loans etc...

    I have a DO NOT CALL note on file and they ignore it. And I check and remind them each time. I ask why they think they are an exception. I'm not very polite with them and ask them for their home number so I can annoy them in a similar fashion. I always ask their name and then send a email to the privacy officer asking why my choice is ignored.

    They are parasites.
     
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  11. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Unless the loans were rerun, or refinanced, your brokers deferred upfront commission should be fine.

    Its normal that a banker wants to service you directly, since it moves the relationship away from the broker to the retail provider, and future business may come their way.

    Works the same with brokers as well.

    ta

    rolf
     
  12. theperthurbanist

    theperthurbanist Well-Known Member

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    Yeah I get these calls from NAB reasonably regularly. I actually thought they were telephone scammers initially and told them I wasn’t telling them a thing! Who calls someone and then immediately asks them to ‘confirm’ all their banking details! No way. Even if they are legit I’m not providing that information to some random phone number.

    I do like the idea of asking for a rate cut each time though...
     
  13. Brady

    Brady Well-Known Member

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    @theperthurbanist yes it can be a bit backwards, but you wouldn't want the bank telling some random your personal details.
    Simple solution is that you can request not to receive further calls, should be able to put a marketing block.
    But then you will need to be proactive in your banking, they wont be calling you, so no chance to ask for that rate discount etc.
     
  14. Sackie

    Sackie Well-Known Member

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    I get the calls and they're annoying as hell cos they usually call when I'm busiest. I just tell them I'm at a family funeral and the call ends swiftly. Until I get a call 6 months later, I give the same 2 second line and call ends without them trying to keep me on. I'm running out of family members to kill though...
     
  15. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    If the bank (or any other service provide) calls you and immediately ask you to confirm your identity, you should refuse and ask them to verify their identity themselves first. Odds are the call is legit, but this is one of the ways identity thieves get their information.

    My own experience is that the caller (even though they're legit), doesn't know how to handle the response. From there I simply ask them for a case number for the call. I then call them through the general service line and quote that case number to get reconnected.
     
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  16. Beano

    Beano Well-Known Member

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    Just so long as you do not say "the answering service of the deceased Mr Sackie would you like to leave your condolescents for the funeral that is to be held tomorrow " the bank may cancel the loans lol
     
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  17. wylie

    wylie Moderator Staff Member

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    I'd forgotten but the call a week ago was because our local branch closed and the new branch person was introducing himself. Also tried to sell me insurance.
     
  18. Marty McDonald

    Marty McDonald Mortgage broker Business Member

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    Nothing wrong with them doing that...after all fees (interest) for no service is frowned upon these days.
     
  19. Scott No Mates

    Scott No Mates Well-Known Member

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    You are a customer, this grants them access to you for marketing. :mad:
     
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