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  • FIRST POST
    • marcflush1
    • By marcflush1 20th Oct 16, 7:13 PM
    • 8Posts
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    marcflush1
    Lloyds are the worst PLEASE HELP!
    • #1
    • 20th Oct 16, 7:13 PM
    Lloyds are the worst PLEASE HELP! 20th Oct 16 at 7:13 PM
    I recently re claimed a miss sold bank account with Lloyds they agreed to compensate a partial refund as they advised I registered a phone with them 8 years ago. i advised the agent during the interview process i was aware of benefits but had never actually used them and though i had to pay for the account. they reckon the phone call to register my phone ( i didn't ask to register it) is about £900.


    if i go to FCA do i have a strong case as they've admitted i was miss sold the account and have paid partially for it?


    my brother inlaw was also a victim to Lloyds and they refused to pay him out at all because it was 4.5k and they advised he knew about breakdown cover he used 10 years ago?


    thanks
Page 1
    • dunstonh
    • By dunstonh 20th Oct 16, 8:04 PM
    • 89,525 Posts
    • 54,975 Thanks
    dunstonh
    • #2
    • 20th Oct 16, 8:04 PM
    • #2
    • 20th Oct 16, 8:04 PM
    if i go to FCA do i have a strong case as they've admitted i was miss sold the account and have paid partially for it?
    You mean FOS. Not FCA. The FCA do not handle consumer complaints.

    The general rule of thumb on this is that any benefits that you have used or registered for are allowed to have their market value deducted from the amount of the redress. So, they do appear to be acting correctly.

    my brother inlaw was also a victim to Lloyds and they refused to pay him out at all because it was 4.5k and they advised he knew about breakdown cover he used 10 years ago?
    The amount would not be a reason they did not pay out. However, if his complaint was that he was not aware and they have evidence that he was aware and used a facility then it is a pretty easy decision to reject the complaint.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • magpiecottage
    • By magpiecottage 20th Oct 16, 10:12 PM
    • 9,129 Posts
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    magpiecottage
    • #3
    • 20th Oct 16, 10:12 PM
    • #3
    • 20th Oct 16, 10:12 PM
    The general rule of thumb on this is that any benefits that you have used or registered for are allowed to have their market value deducted from the amount of the redress.
    Originally posted by dunstonh
    Indeed - and if the product is a package then it will be accepted that some components might have no value to the customer but others will.
    • JANE SPICER
    • By JANE SPICER 6th Sep 17, 2:27 PM
    • 6 Posts
    • 2 Thanks
    JANE SPICER
    • #4
    • 6th Sep 17, 2:27 PM
    • #4
    • 6th Sep 17, 2:27 PM
    Hi all, Do you know how far back you can claim with Lloyds? Thanks
    • dunstonh
    • By dunstonh 6th Sep 17, 2:43 PM
    • 89,525 Posts
    • 54,975 Thanks
    dunstonh
    • #5
    • 6th Sep 17, 2:43 PM
    • #5
    • 6th Sep 17, 2:43 PM
    Hi all, Do you know how far back you can claim with Lloyds? Thanks
    Originally posted by JANE SPICER
    That is something you need not bother yourself finding out because the bank will decide. However, assuming you are not timebarred - as so many are now, they will go back to the last change of bank account type you did.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
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