Poll: The most brilliant business model in the world. Can you guess what it is? TOUGH RIDDLE

Ban hammer?

  • Yes, please god do!

    Votes: 391 83.2%

  • Meh

    Votes: 44 9.4%

  • No, The Guys a Genius!

    Votes: 35 7.4%
  • Total voters
    470
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Considering that most people interested in this thread will have stopped checking it once the trolls spammed it out with OP hate its a little unfair to add a poll on if the OP should be banned when practically the only people that will see it are the ones trolling him :(
 
It feels like I've just eaten a lot of ice cream and have brain freeze from reading this thread.
 
Moses said:
Where's the gain or loss, if it's merely a credit facility, though? It'd seem dubious for potential interest to count.
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Why would it seem dubious?
You're not entitled to an interest free overdraft, so you should be paying interest on it. If you lie so that you dont have to pay the interest, thats a direct gain.
 
Moses said:
Where's the gain or loss, if it's merely a credit facility, though? It'd seem dubious for potential interest to count.
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You do know banks make money on credit, right? So for them to give it to you interest free is a loss generator for them.

Whilst the likelihood of them suing you for it is minute at best, you'd definitely have to repay the overdraft in a short term, possibly interest due and quite likely take a severe smack on your credit rating for being declined financial services.

Any way you cut it, it is fraud in both the literal and legal senses of the word.
 
Moses said:
Where's the gain or loss, if it's merely a credit facility, though? It'd seem dubious for potential interest to count.
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As a current or recent student (I can't remember when you started) are you concerned about your multiple 0% overdrafts? :D
 
Moses said:
Where's the gain or loss, if it's merely a credit facility, though? It'd seem dubious for potential interest to count.
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It seems fairly obvious there is a gain - and if you have to agree that you do not have any other student accounts in order to get the account in the first place, to do so whilst actually holding other similar accounts requires you to lie the bank, so there is the deception. Seems pretty straightforward to me?
 
Moses said:
I'm just not convinced it'd count as a gain... obviously it's literally a loss or gain, but for the purposes of the act, I mean. It 'sounds wrong' (lol) for want of a better expression. Potential interest can't count as money or property, so the opening of an account merely breaches the terms and conditions, rather than counting as fraud. The the lost interest would be absolutely minuscule, realistically speaking, etc.

Not that any of this actually matters, as all that will ever happen is the bank'll remove your overdraft facility.
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Think of it as loss of income for the bank, rather than loss of interest. Given that students generally have non-existent credit ratings, they'd be looking at credit cards around the 20-30% APR mark. (Granite, Aqua, those *******s)

When you're talking up to a £3,000 overdraft facility, that's a lot of potential income for the bank that is lost if the account holder withholds information.
 
Theophany said:
Think of it as loss of income for the bank, rather than loss of interest. Given that students generally have non-existent credit ratings, they'd be looking at credit cards around the 20-30% APR mark. (Granite, Aqua, those *******s)

When you're talking up to a £3,000 overdraft facility, that's a lot of potential income for the bank that is lost if the account holder withholds information.
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No, I'm not sure that loss of potential income on other products they may have bought instead counts as 'gain' in terms of fraud.
 
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