(Ask nlgbbbblth) - My Weekly Bank Related Question (7 Viewers)

[classic seanc]

RE: http://www.thumped.com/bbs/showthread.php?t=52238
(Posts 7-19)



Let’s say:
If I buy a painting for €10000 can I then go into a bookies and bet €15 that the deal will not go through as planned and that I’ll get shafted. (Let’s assume that I get odds of 1000:1 on that, seeing as it’s a reputable gallery and they’ve signed guarantee documents and contracts)

My thinking is that I will effectively insure myself against the possibility of this not working out.

Is this possible? Do people do this? In financial theory, what am I not thinking of here?

 

[nlgbbbblth]

Would the bookies give you odds of that size?

You still have to find the €10,000 to put up.
The 'deal' / 'agreement' from the art gallery would not be considered reliable security if you approached a bank for the funds and that was your only method of repayment.

 

[classic seanc]

Assuming I had an SSIA and I didn't know what to do with it.

Let's say the book gives odds of 100:1, I could bet €150. Still a good deal (considering time value o' money dawg)

 

[classic seanc]

Assuming I had an SSIA and I didn't know what to do with it.

Let's say the book gives odds of 100:1, I could bet €150. Still a good deal (considering time value o' money dawg)

I think this may well be the greatest idea I have ever had....
The question now is, do I have the cajones to see it through?

The answer, of course, is no.

 

[magicbastarder]

you may as well just take out normal insurance. same concept, different level of acceptance.

 

[classic seanc]

Yeah I'd considered that too. It makes sense.

 

[Corey]

Nlgbbbbbbbbbbblth, I'm thinkin of grabbin a substantial loan from my bank in order to finance my work for the next 12 months. Do i approach them with a business plan, or just a breakdown my expenses?

Hit me.

 

[nlgbbbblth]

Nlgbbbbbbbbbbblth, I'm thinkin of grabbin a substantial loan from my bank in order to finance my work for the next 12 months. Do i approach them with a business plan, or just a breakdown my expenses?

Hit me.

No harm having a business plan of sorts. It shows that you've thought things through.

A breakdown of costings / expenses is necessary so that they can see what the loan is for.

Presume it'll be repaid from your ongoing income?
Cash flow projections showing how you anticipate repaying it would be needed. Keep 'em realistic.

 

[La La]

herro nigglybits,

quick question: do HSBC operate in Ireland?

I bank with them here in HK and it would be so much easier for me to open an account with them in Ireland as opposed to AIB again I think.

Checked their website and it seems they have an office in Dublin but I'm not sure what the situ is with atm's, branches, etc. any ideas? cant soeak to a real person here - keep getting automated voices.

ta.

 

[magicbastarder]

HSBC used to own national irish bank, but then they sold it. that was their only retail banking presence.

 

[La La]

i see....ok thanks. looks like i might have to dust off my AIB account so

 

[c0De_n1NjA]

how much?

 

[Raudi Raus Schinkel]

I've forty euros to invest. where should i put this Bubbles?, I heard coffee is a good money makin commodity at the moment.

Would Rabo direct take it?

 

[RSJ]

If i had say five grand to put into some sort of high interest account for say five months, what kind of return could i expect? And would i have to withdraw it in person or could i arrange at the beginning to have the whole lot paid into my current account on day x?

 

[mr pharmacist!!!!1]

is it normal for your branch to charge commission on foreign exchange?
i was lodging an american cheque (check) into my account.
im with aib.

 

[nlgbbbblth]

is it normal for your branch to charge commission on foreign exchange?
i was lodging an american cheque (check) into my account.
im with aib.

yes, it's normal. Usually not too much for US$, sterling etc. Worst are foreign euro cheques.

 

[nlgbbbblth]

If i had say five grand to put into some sort of high interest account for say five months, what kind of return could i expect? And would i have to withdraw it in person or could i arrange at the beginning to have the whole lot paid into my current account on day x?

around 4.25%, maybe 4.5%
You should be able to give them a written instruction in advance to transfer the money back to your current account on day x.

 

[theoootini]

just got a new laser/maestro debit card with ulster bank. doesn't seem that i'm able to do anything on the internet with it. ...is there?

 

[nlgbbbblth]

just got a new laser/maestro debit card with ulster bank. doesn't seem that i'm able to do anything on the internet with it. ...is there?

this came up before.
The new cards laser / maestro have 16 digits - credit card style.
The old ones had 19 digits.

I think the problem could lie with the retailer's merchant card system. I have a feeling that some machines need to be upgraded to accept the 16 digit version.

Online - I've used it on tickets.ie ok.

 

[Unicron]

So this works on merchants that don't take Visa specifically? Is this a new thing? How could I change my Laser to include Maestro?