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Sounds like a good plan berry, I think the banking Royal Commission left a lot of people thinking the banks have no rights, it is an interesting ploy by ME bank.
Sounds like a good plan berry, I think the banking Royal Commission left a lot of people thinking the banks have no rights, it is an interesting ploy by ME bank.The banks actually changed the rules about 18months or more ago now so that if you fall behind in your mortgage they can now access your offset account. Previously they weren’t allowed to touch it. This move by ME is not going to be the first. I can see a lot of people suddenly without any money. I have already quarantined some living expenses in a separate bank
smartThe banks actually changed the rules about 18months or more ago.
..... I have already quarantined some living expenses in a separate bank
This may be in the wrong thread (..bedrooms, not street level) but according to someGood intel @wayneL ...
I did notice that condoms are not selling, as is usual in a plague, as the population normally increases.
...
Thanks Berry Do you know if offset accounts have had similar rule changes, or similar (eg. offset rate reduced)?The banks actually changed the rules about 18months or more ago now so that if you fall behind in your mortgage they can now access your offset account. Previously they weren’t allowed to touch it. This move by ME is not going to be the first. I can see a lot of people suddenly without any money. I have already quarantined some living expenses in a separate bank
1.5 metere rules puts me out of reach.This may be in the wrong thread (..bedrooms, not street level) but according to some
Coronavirus: People are having less sex in lockdown, says Durex boss
https://www.bbc.com/news/business-52490023
no to boast but..ohh you mean meters not inches1.5 meters rules puts me out of reach.
thanks for that info. As I don't have an offset account, I didn't pick up on it.The banks actually changed the rules about 18months or more ago now so that if you fall behind in your mortgage they can now access your offset account.
Now the qldfrog has mentioned bank runs, why not? Let's have one. Except no-one will touch the cash.I can see a lot of people suddenly without any money. I have already quarantined some living expenses in a separate bank
It may be more accurate to say that people are having less unprotected sex. The normal in a plague is to "go for it".This may be in the wrong thread (..bedrooms, not street level) but according to some
Coronavirus: People are having less sex in lockdown, says Durex boss
https://www.bbc.com/news/business-52490023
This is one clause from St George. Others have similarThanks Berry Do you know if offset accounts have had similar rule changes, or similar (eg. offset rate reduced)?
As far as i know, in ME case, they were not in defaultThis is one clause from St George. Others have similar
“29.4 Unlesstheamountowingisgenuinely in dispute, if you are in default, we may use any money you have in another account with us towards repaying the total amount owing (this is known as “combining accounts”).
We may combine accounts without giving you any notice but we will tell you afterwards.”
Might need a thread on its own @Joe Blow what do you think?
Thanks Joe, I will follow any advice from ourfellow members I they want to create a Money flow freeze thread , just in case it finds getting a life on its own..I'm happy for a new thread to be started on this topic. If you would like to start one from scratch please just go ahead and start it in the most appropriate forum.
If you would like me to split some posts off from this thread then I can do that, as long as it doesn't interrupt the flow of the thread.
I’ve been a fairly passive on the forums just learning and absorbing information. I dont want to derail things. Happy for you guys to do what you see bestBerry initiated the point I think. Up to @Berry
My son has an interest offset acct with Macquarie. Just mentioned this to him and he reports "no news is good news". It probably would be as QF says, a funding source issue.Thanks Joe, I will follow any advice from ourfellow members I they want to create a Money flow freeze thread , just in case it finds getting a life on its own..
Otherwise we will just leave this here and add it to what makes the people's mood and feelings
The bigger concern I'd have would be if I had funds deposited with them.ME bank playing me me me
It think it might should I say should worry more generally credit union members with depositsThe bigger concern I'd have would be if I had funds deposited with them.
When a financial institution takes action which has the effect of limiting withdrawals, regardless of the detail that always rings alarm bells and especially so when it occurs amidst a broader crisis.
above: the result of smart?phone typing..not sure I can even guess what I initially typed...It think it might should I say should worry more generally credit union members with deposits
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