It's totally OK. You want my money tell me how you handle yourself financially. He who has the gold makes the rules.
Announcement
Collapse
No announcement yet.
Spending habit info - overly intrusive?
Collapse
X
-
Originally posted by Wellington Broker View PostWhat the bank would tell you is that the purpose is to verify spending and expenses to determine affordability.
Originally posted by Bobsyouruncle View PostIt's totally OK. You want my money tell me how you handle yourself financially. He who has the gold makes the rules.
Comment
-
Perhaps who someone spends money with at any particular moment in time has no bearing on their financial acumen, but the changes over a period of months certainly do.
I very much enjoy an evening at the casino. I go three or four times a year, and tend to lose a couple hundred dollars. It's my cost of entertainment for the night, and is entirely negligible to my overall spending. But if I started going once a month in August, then once a week in October, and I've been four times in the last week, there's a big concern.
The same could be said with expensive restaurants, drinks, or cash withdrawals in shady areas of town?
A couple years ago, banks in the UK started asking applicants how often they eat steak.AAT Accounting Services - Property Specialist - [email protected]
Fixed price fees and quick knowledgeable service for property investors & traders!
Comment
-
Originally posted by Bobsyouruncle View PostWe'll just have to agree to disagree Perry. Given the dishonesty in our society and sadly many of our immigrants then anybody borrowing money has to accept greater scrutiny.
In this morning's news: Car tracking technology an essential health and safety tool, former police officer says. Next it will include all private vehicles, ostensibly for road safety purposes. (Code for better ways of making money than cash cameras and to make using toll roads more lucrative.) Instead of the plastic card, people can now pay with their cellphones. They can also be tracked by them. Next it will be . . . . Then it will be a mark (implant) in the wrist or on the forehead.
Interesting that you support the trend.
Comment
-
Oh I agree completely it's an erosion of privacy. I'm just saying it's justified. It's not like getting a loan is an undeniable right. Also microchipping or similar is inevitable. Not just because God told us it was going to happen 2000 years ago, but again it's common sense. Implant ones details on said person, risk of loss or theft now solved. Similar to Iris recognition now coming in to many airports.
I remember a union revolt when one of our businesses brought in thumbprint clocks. Now it's just a part of life.
All these technologies are largely fuelled by human dishonesty, and that will not end.
Comment
-
Originally posted by Perry View PostIt's just another erosion of our personal privacy. Little-by-little, it's being chipped away.
Comment
-
Look the banks are highly exposed in terms of risk in this current environment where the cost of offshore borrowing is highly vunerable so they are just mimising their risk.
Any other times it would have been " here just take it...
I should start doing the same with the banks about my savings account...
Comment
-
Originally posted by elguapo View PostHow do you work that one out?
Originally posted by elguapo View PostA high level of disclosure has always been required to secure lending.
In times gone past, building up a record with a bank did not involve a detailed list of who was paid by the bank account holder. Just an analysis of the applicant's banking history, plus a credit check.
In times gone past, banks did not lend on mortgages.
In times gone past there were few banks or bank customers (in NZ) with credit cards.
Comment
-
Originally posted by Bobsyouruncle View PostAlso microchipping or similar is inevitable. Not just because God told us it was going to happen 2000 years ago, but again it's common sense.
Comment
-
Comment