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24 Sep 2007
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Registered Users
HUBB regular
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Join Date: Jul 2007
Location: London
Posts: 30
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Bank bond for carnet?
Hi, I have enough in savings to put a bond in the bank to cover the carnet costs so I would rather not buy insurance to cover it. Does anyone know which banks have heard about this and who I can contact as my bank have no idea what a carnet is and seem incredibly reluctant to put pen to paper.
Cheers
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25 Sep 2007
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Registered Users
HUBB regular
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Join Date: Sep 2007
Location: Southam Warwickshire
Posts: 21
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I have used my LloydsTSB branch in the 90's and more recently in 2005. On both occasions the manager had not encountered a request for a bank guarantee for a carnet before. Make an appointment to see the manager, leaving a full description of what a carnet is so he is up to speed before your meeting. You can print off the information from the RAC website for this purpose. For my latest guarantee i took out a 12 month fixed rate bond for the amount required, which seemed the best way of doing it. However make sure its at a decent interest rate. You may want to check out the Fixed rate bond interest rates of the bank beforehand as he may try and foist a low rate one on you.
I did try HSBC but they make a charge for any bank guarantees.
Best of luck on your travels.
Last edited by DustyBin; 25 Sep 2007 at 13:16.
Reason: forgotten info
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26 Sep 2007
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Registered Users
New on the HUBB
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Join Date: May 2006
Location: West London
Posts: 7
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Thanks for that steer. We are at the carnet stage. The manager we are due to see is ex South Africa and seems to be aware of the carnet etc. We'll try the bond route and see what happens.
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26 Sep 2007
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Registered Users
Veteran HUBBer
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Join Date: Dec 2006
Location: Worcester Park
Posts: 174
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How much deposit do you require?
I have just sent off my application to the rac. My bike is an old boy so got away with £1000. I have just sent a chq to the rac for that amount. There are no charges(from bank and rac) that way, but also no interest. But for this amount it works in my favour!
I phoned HSBC for the same reason as you and eventually put the phone down after a good few mins(just under an hour) of trying to explain myself??
Supposedly there was someone who delt with carnet deposits but was off that day??
The person who deals with carnets at the rac is very helpfull. I got the number off the internet.
Good luck
Orrin
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26 Sep 2007
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Registered Users
HUBB regular
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Join Date: Apr 2007
Location: UK
Posts: 25
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carnet bond
Hello,
I am lucky to have savings to lay down as a bond for my carnet (£8000 bond) so i have used Leeds Building society as i bank with them. They just moved some of my savings into a 2 year notice account ( as i have decided to keep the carnet ongoing after my trip so i dont need to worry about redoing it again on my next one) and filled in the paperwork i sent them. No charges, no fuss, and i earn interest on it.
Mike
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