Prose from a Poshboy

[Honeybadger]

So just to clear this up, is it a 'subject access request' I am asking for? Or a 'subject to access request'? I don't want to go into my bank and try to sound all hardcore and knowledgeable and then make myself look silly by calling it the wrong thing.

I strut over to the bank manager and say, "Hey you! Yes you, bank manager! I want my subject access request and I want it now!"

(Not impressed) "I don't know what one of those is sir. Perhaps you mean a subject to access request?"

[tikay]

So just to clear this up, is it a 'subject access report' I am asking for? Or a 'subject to access report'? I don't want to go into my bank and try to sound all hardcore and knowledgeable and then make myself look silly by calling it the wrong thing.

Stu,

A "Subject Access Request" is part of the Data Protection Act.

See......

https://ico.org.uk/for-the-public/personal-information/


Unless your request is deemed frivolous, they will be obliged to send you ALL communications in which they have referred to you.

The names of those who commented upon you do NOT get passed to you, but all the communications are.

[Rexas]

Sorry stu, typo on my part, subject access request is what you want as tikay said

[EvilPie]

Alex' situation with the Halifax is probably to do with them generally having to downsize due to regulation.

The Lloyds banking Group (of which Halifax is a part) are so astronomically huge that they've been told they have to reduce their size.

Where they used to just leave everyone's accounts running away in the background they now (probably) look in to individual accounts a bit more carefully to see who they want to get rid of. I'd imagine Alex is a pretty awful customer; lots of cash withdrawals and cash deposits plus numerous online poker transactions. These all carry a cost to the bank from a person whom (I'm assuming) has zero debt so therefore puts absolutely nothing back.

Get rid of 1000 customers like Alex and you can probably get rid of a couple of staff thus saving the bank a chunk of money and at the same time reducing your overall size to satisfy the banking regulators.

Massive win for the bank.

[SuuPRlim]

it's incredibly frustrating dealing with banks, in most customer>business scenario's the business needs the customer a dam sight more and therefore (generally) you get at the very least a decent level of customer service. Complete opposite with the banks, unless you are depositing huge money and leaving it there, or taking big credit you can afford they don't really care so are not remotely compelled to service you in a satisfactory manner. Just to further the strength of their position changing banks is such an almighty ballache that very few actually bother.

Now, as a pro gambler you are not in the slightest what a bank is looking for. £10k in, £15k out, £12k in, £3k out, £4k in etc all the time all transactions at their expense, very unreliable account balance, no steady income, looks a lot like money laundering so they have even less interest in keeping you happy.

A few yrs ago when I was travelling a lot and dealing in all diff currencies I opened an offshore eur/usd/gbp account with lloyds, totally upfront with them about what I was about, had my managers number he used to ring me see if I was ok etc (he was a poker fan) it was abso perfect. Then one day I was in vegas and was about to transfer a huge amount of us$ to the account (excuse the brag) I gave the customary phone call to my manager whenever I xferd big amounts (excuse the brag) and I got a new guy who said my old manager had left and it was him now, xfer would be no problem...

I get home, a week later after chasing this xfer all over I get through to the new guy who tells me my account is closing, the Xfer has been blocked and returned to the casino and I have 21 days to arrange an Xfer of the monies in the accounts to somewhere else. After days and days on the phone explaining that I now have X$ in vegas that I cannot access without going back there and they have left me high and dry etc all I got was "not our problem", I explained that I will incur huge expense in both time and money, if they had just told me when I rang up the Xfer would not be permitted then all of this would be avoided. I was eventually offered £200 credit and a 5 day extension to xfer from my accounts, which is clearly an absolute joke as travelling to vegas and back will cost at least 4days and well over £1000.

I, like stu pressed for the reason behind closing my account and they said that I was doing "too much banking" word-for-word quote.

I always try to have 2 accounts with 2 different banks and split the money movements equally between them all.

[AlunB]

Is there any advantage in setting up a business to service your gambling and running things through that? Or is that likely to be an administrative nightmare?

[EvilPie]

Is there any advantage in setting up a business to service your gambling and running things through that? Or is that likely to be an administrative nightmare?

Once it becomes a business are you not liable to corporation tax on any profits though?

[AlunB]

Is there any advantage in setting up a business to service your gambling and running things through that? Or is that likely to be an administrative nightmare?

Once it becomes a business are you not liable to corporation tax on any profits though?

I don't think these lads need to worry about that...

[AlunB]

Is there any advantage in setting up a business to service your gambling and running things through that? Or is that likely to be an administrative nightmare?

Once it becomes a business are you not liable to corporation tax on any profits though?

Sorry obvious joke. No I meant more as a services company to yourself. So you aim to run it as break even or low profitability, but to act as a way of managing liabilities, admin stuff and whatever. It's a management firm rather that charges you (yourself) a fee for looking after your money but doesn't profit from it. Not sure it's even possible or practical, so was thrown out as an idea. The more I think about it the more it's a terrible idea.

[arbboy]

I have no idea what would happen taxation wise if you wanted to set up a Limited company and run your gambling exploits in that manner in order to 'be above board, get a business bank account which doesn't get closed/get a mortgage etc.  Have an annual audit etc etc.  Gambling is exempt from income tax legally.  Pretty sure there is no mention of corporation tax being exempt.  I am guessing though.

[DungBeetle]

And I am pretty sure there is a good chance your credit rating will be affected with the missed payments, so make sure natwest compensate you properly and get it wiped clean on your behalf.  

Oh dear Well obviously I hope you are wrong about this! I have been doing some googling and it seems that usually when a direct debit bounces it is automatically re-tried 7 days later, and if it goes through fine on the second attempt then credit rating is not affected. If this is the case (obviously it might not be) then as long as I scramble and get all the direct debits set up ('manually' over the phone) at my new bank tomorrow then all should be good. But of course I cannot be sure about this.

Once I have tended to the immediate concerns (making sure all my bills are paid for September) then I will of course make enquiries about whether my credit rating has been affected. And if it is affected in any way then I am going to go medieval on Natwest's ass!

This my experience as well.  I missed 2 direct debits once due to an honest oversight (money being in wrong account etc) and thought my credit record would be trashed but both times I phoned the companies and they said they will retry in a few days and only then do I get a credit record issue.

I guess this is at each company's discretion though?

[EvilPie]

And I am pretty sure there is a good chance your credit rating will be affected with the missed payments, so make sure natwest compensate you properly and get it wiped clean on your behalf.  

Oh dear Well obviously I hope you are wrong about this! I have been doing some googling and it seems that usually when a direct debit bounces it is automatically re-tried 7 days later, and if it goes through fine on the second attempt then credit rating is not affected. If this is the case (obviously it might not be) then as long as I scramble and get all the direct debits set up ('manually' over the phone) at my new bank tomorrow then all should be good. But of course I cannot be sure about this.

Once I have tended to the immediate concerns (making sure all my bills are paid for September) then I will of course make enquiries about whether my credit rating has been affected. And if it is affected in any way then I am going to go medieval on Natwest's ass!

Think you'll be okay mate. It's only company's that report to the credit rating agencies that affect your rating and utility Companies aren't normally a part of that. If you have any credit cards though you need to make sure they're up to date or you get hit with all manner of charges and get an instant hit that'll be on your report for ages.

If you ring them individually and tell them the situation you can probably just make immediate card payments to cover this month and then next month things will go back to normal.

Sounds like a massive pain in the arse though!!

[BorntoBubble]

More and more utility companies are feeding into credit ratings now. (Mainly to use as a threat to bad debtors to get them to pay!)

Im pretty sure though they give you two shots at a direct debit though.

[EvilPie]

Alex is going to go nuts when he sees that his diary has become a direct debit discussion!!

Might even be as bad as the whole "how do you like your steak" rant all over again.......

[BorntoBubble]

Alex is going to go nuts when he sees that his diary has become a direct debit discussion!!

Might even be as bad as the whole "how do you like your steak" rant all over again.......

Needed something to liven up his diary