Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • TBagpuss
    • By TBagpuss 8th Mar 17, 7:57 PM
    • 5,646Posts
    • 7,400Thanks
    TBagpuss
    Appropriate Level of Compensation?
    • #1
    • 8th Mar 17, 7:57 PM
    Appropriate Level of Compensation? 8th Mar 17 at 7:57 PM
    I'm curious as to whether anyone knows of any guidance, or has had personal experience, of how much it is reasonable for a bank to offer as compensation for poor service and the consequent distress and inconvenience?

    I was locked out of my online access to a credit card account I have for just under 4 months. During that time I made numerous calls to the bank to try to resolve the issue, which included several occasions when they promised call-backs which they then didn't make, and two separate incidents when I told them I wanted to escalate and make a formal complaint, and they did nothing.

    I wrote them a letter of complaint which did get a response, and they finally gave me back access (it turns out this this was a really, really simple fix which ought to have been done the first time I called!)

    there wasn't any financial loss, but a lot of stress and time wasted.

    I'm wondering whether anyone has had a similar experience and what you would expect a bank to offer in this kind of situation. (I have looked at the financial ombudsman's site and clearly it would come in the lower band of up to £500, but there doesn't seem to be much guidance about where in that band it should fall.

    Any thoughts?
Page 1
    • YorkshireBoy
    • By YorkshireBoy 8th Mar 17, 8:02 PM
    • 29,191 Posts
    • 16,990 Thanks
    YorkshireBoy
    • #2
    • 8th Mar 17, 8:02 PM
    • #2
    • 8th Mar 17, 8:02 PM
    £25. £50 if you stamp your feet!


    EDIT:
    two separate incidents when I told them I wanted to escalate and make a formal complaint, and they did nothing.
    They will most definitely not want this referring to the FOS, so maybe you can use this to your advantage.
    I wrote them a letter of complaint which did get a response, and they finally gave me back access (it turns out this this was a really, really simple fix which ought to have been done the first time I called!)
    So when you finally wrote a letter of complaint you didn't tell them what resolution you were looking for? Or maybe you just wanted your online access back and nothing else? They will use this to their advantage. If you ONLY asked for online access back then they've resolved your complaint.
    Last edited by YorkshireBoy; 08-03-2017 at 8:16 PM.
    • paragon909
    • By paragon909 8th Mar 17, 8:06 PM
    • 1,203 Posts
    • 1,220 Thanks
    paragon909
    • #3
    • 8th Mar 17, 8:06 PM
    • #3
    • 8th Mar 17, 8:06 PM
    I'm curious as to whether anyone knows of any guidance, or has had personal experience, of how much it is reasonable for a bank to offer as compensation for poor service and the consequent distress and inconvenience?

    I was locked out of my online access to a credit card account I have for just under 4 months. During that time I made numerous calls to the bank to try to resolve the issue, which included several occasions when they promised call-backs which they then didn't make, and two separate incidents when I told them I wanted to escalate and make a formal complaint, and they did nothing.

    I wrote them a letter of complaint which did get a response, and they finally gave me back access (it turns out this this was a really, really simple fix which ought to have been done the first time I called!)

    there wasn't any financial loss, but a lot of stress and time wasted.

    I'm wondering whether anyone has had a similar experience and what you would expect a bank to offer in this kind of situation. (I have looked at the financial ombudsman's site and clearly it would come in the lower band of up to £500, but there doesn't seem to be much guidance about where in that band it should fall.

    Any thoughts?
    Originally posted by TBagpuss
    One would ask what is your time and stress actually worth in monetary terms... Could be anything from 0.01p to whatever they decide, That's if they even give you anything.

    Am not sure you would get anything near the £500 you quoted, If that was the case then the likes of Natwest wouldn't be in business because of IT errors.
    • TBagpuss
    • By TBagpuss 8th Mar 17, 8:39 PM
    • 5,646 Posts
    • 7,400 Thanks
    TBagpuss
    • #4
    • 8th Mar 17, 8:39 PM
    • #4
    • 8th Mar 17, 8:39 PM
    No, I'm not expecting £500 as that is clearly at the top end of the 'moderate' range, but £0-£500 is a fairly large range!

    When I wrote I said that I felt that compensation was appropriate in light of the length of time and number of attempts I'd made to resolve it, but didn't give a figure.
    • yoshiyella
    • By yoshiyella 8th Mar 17, 8:55 PM
    • 439 Posts
    • 131 Thanks
    yoshiyella
    • #5
    • 8th Mar 17, 8:55 PM
    • #5
    • 8th Mar 17, 8:55 PM
    I got £40 compensation when my bank failed to cancel a SO (it was done over the phone). They then gave me another £200 when the same SO went out the following month as well.
    • jonesMUFCforever
    • By jonesMUFCforever 8th Mar 17, 11:28 PM
    • 23,824 Posts
    • 11,030 Thanks
    jonesMUFCforever
    • #6
    • 8th Mar 17, 11:28 PM
    • #6
    • 8th Mar 17, 11:28 PM
    Your online access was blocked just for the credit card or your bank accounts as well?
    If credit card only there were other means of getting the information you required such as telephone banking or old fashioned thing called walking into a branch.
    If it was up to me I would say £50 tops!
    What goes around - comes around
    give lots and you will always receive lots
    • GingerFurball
    • By GingerFurball 9th Mar 17, 7:58 PM
    • 927 Posts
    • 880 Thanks
    GingerFurball
    • #7
    • 9th Mar 17, 7:58 PM
    • #7
    • 9th Mar 17, 7:58 PM
    £25.

    Being locked out of internet bankin really isn't a big deal.
    DEBT FREE!

    Debt free by Xmas 2014: £3555.67/£4805.67 (73.99%)
    Debt free by Xmas 2015: £1250/£1250 (100.00%)
    • JuicyJesus
    • By JuicyJesus 9th Mar 17, 8:03 PM
    • 2,889 Posts
    • 2,971 Thanks
    JuicyJesus
    • #8
    • 9th Mar 17, 8:03 PM
    • #8
    • 9th Mar 17, 8:03 PM
    £14million and you get to have dinner with the Queen.
    urs sinserly,
    ~~joosy jeezus~~
    • Katiehound
    • By Katiehound 9th Mar 17, 9:49 PM
    • 3,578 Posts
    • 36,165 Thanks
    Katiehound
    • #9
    • 9th Mar 17, 9:49 PM
    • #9
    • 9th Mar 17, 9:49 PM
    £25 if you are lucky!
    Being polite and pleasant doesn't cost anything!

    If you found my posting helpful please hit the "Thanks" button!
    Thank You
    • jamie_02
    • By jamie_02 10th Mar 17, 11:49 AM
    • 74 Posts
    • 41 Thanks
    jamie_02
    How much did it actually cost you to sort out? How much are you paid per hour and how many hours (truthfully) did you spend on this problem? I can't believe being locked out of online banking is the most stressful thing in the world, though, so add on £20 for 'inconvenience/apology' and you've got a figure.
    Surely the point of compensation is to put you back in the position you'd be in if the problem had never arisen, not simply as a financial gain in itself.
    • Giddypip
    • By Giddypip 10th Mar 17, 5:18 PM
    • 49 Posts
    • 49 Thanks
    Giddypip
    I recently received £30.00 from my bank after getting locked out of online banking through no fault of my own, didn't even ask for it as the problem was solved within 24 hrs.

    On the other hand, I had major problems with an internet provider that cost me time and money in phone calls and a lot of stress. I sent them an invoice covering the cost of all the phone calls and costs of dongles I had to use, I then added on £200.00 for 'inconvenience'. I received all the costs of the calls & dongles and £150.00 as an apology. Be cheeky
    • trailingspouse
    • By trailingspouse 10th Mar 17, 6:53 PM
    • 2,038 Posts
    • 2,821 Thanks
    trailingspouse
    Because of two separate c0ck up by Barclays my VAT payments were late two quarters running, resulting in an investigation by the taxman. The business was compensated £300 for this. Barclays never admitted responsibility, of course, but the taxman accepted that it wasn't my fault.
    • Chalkius
    • By Chalkius 10th Mar 17, 10:08 PM
    • 61 Posts
    • 20 Thanks
    Chalkius
    As others have said, probably £25, maybe £50 if you're lucky.
    • TBagpuss
    • By TBagpuss 13th Mar 17, 11:10 AM
    • 5,646 Posts
    • 7,400 Thanks
    TBagpuss
    Just an update in case to is of use to anyone in a similar situation.

    They ofered me £100, I pushed back a little and they agreed £150 + £15 for the cost of the phone calls.

    Part ly this was down to the length of time and to the fact that I had contacted them numers times without them fixing the issue, had it ben for a shorter period then it would have been much lower.
    • MABLE
    • By MABLE 13th Mar 17, 12:12 PM
    • 3,228 Posts
    • 1,711 Thanks
    MABLE
    Compensation from my bank has been from £45 to £150. However my last complaint with Nationwide resulted in compensation of £25.00 because of incorrect information.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,053Posts Today

7,257Users online

Martin's Twitter
  • Byebye! I'm about to stop work & twitter, to instead spend glorious time with Mrs & mini MSE. Wishing u a lovely summer. See u in 10 days.

  • WARNING Did you start Uni in or after 2012? The interest's rising to 6.1%; yet it doesnt work like you think. See https://t.co/IQ8f0Vyetu RT

  • RT @JanaBeee: @MartinSLewis Boris is the anomaly (coffee), the others are versions of normal (beer). Lots of same candidates = vote share d?

  • Follow Martin