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  • FIRST POST
    • fifikav
    • By fifikav 15th Mar 17, 7:42 AM
    • 33Posts
    • 20Thanks
    fifikav
    Help please .. it's my money !
    • #1
    • 15th Mar 17, 7:42 AM
    Help please .. it's my money ! 15th Mar 17 at 7:42 AM
    Good morning... help needed..

    Had a shareplan with work saving £200 a month at .90 share option.
    Business has been bought out and share value now fixed @ 1.85..shares no longer on the market so 1.85 agreed.
    Had 4 batch dates with ybs ( last one being April 2017)
    Need my funds for various but serious reasons ...

    Followed full process and ybs received my paperwork for March batch closure and payout. ( needed to be with them in the 3march).
    As I had heard nothing... called them and they said it would not be closed until April as it was better for me to do that and my company and ybs account manager had agreed that for all employees...
    A. This is my money and no advise has ever been offered or indeed given
    B. At no point has any communication been given from ybs or my company re this ?
    C.no one has ever reviewed my financial situation... it's a shareplan with agreed share value ?
    D. I have cancelled my salary payment to the shareplan( as per process) so how can I be better off... I am not stupid... needs must!

    My company say they have sent no communication to rbs... the process and relevant documentation has not changed.
    Ybs are looking into my case...

    I have spent all last night with an upset tummy and racing heart...

    I need the money.... this is very serious to me...

    Ybs are calling me back today and I have a complaints ref...

    But I want my funds....?

    And help on how to put together an email to them re my rights etc and how can I get my money... could potentially lose my house over this error ..

    Sorry for the rant ... raging is not the word ?
Page 1
    • justme111
    • By justme111 15th Mar 17, 8:02 AM
    • 2,788 Posts
    • 2,669 Thanks
    justme111
    • #2
    • 15th Mar 17, 8:02 AM
    • #2
    • 15th Mar 17, 8:02 AM
    Did not want to read and run.
    One often can not make things the way one wants them to be. I would look into other ways of getting money if it is that urgent.
    • alanq
    • By alanq 15th Mar 17, 9:37 AM
    • 3,715 Posts
    • 2,378 Thanks
    alanq
    • #3
    • 15th Mar 17, 9:37 AM
    • #3
    • 15th Mar 17, 9:37 AM
    My company say they have sent no communication to rbs...
    Originally posted by fifikav
    Was this was also meant to be ybs?
    I'm a Board Guide on the Budgeting and Bank Accounts, Savings & Investments, Food Shopping and Over 50s MoneySaving boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com
  • jamesd
    • #4
    • 15th Mar 17, 11:12 AM
    • #4
    • 15th Mar 17, 11:12 AM
    Shares are not always liquid investments. Depending on the amount you need and your credit scoring you might consider a credit card with a money transfer deal or seeking an arranged overdraft or loan.
    • jimjames
    • By jimjames 15th Mar 17, 12:24 PM
    • 12,004 Posts
    • 10,442 Thanks
    jimjames
    • #5
    • 15th Mar 17, 12:24 PM
    • #5
    • 15th Mar 17, 12:24 PM
    You had 4 batch dates, last one being April 2017.

    So what's happened to the previous ones? Have you been waiting 4 years for this or are the dates not yearly? It seems a very long time to wait to resolve something?
    Last edited by jimjames; 15-03-2017 at 12:27 PM.
    Remember the saying: if it looks too good to be true it almost certainly is.
    • eskbanker
    • By eskbanker 15th Mar 17, 1:21 PM
    • 5,466 Posts
    • 5,269 Thanks
    eskbanker
    • #6
    • 15th Mar 17, 1:21 PM
    • #6
    • 15th Mar 17, 1:21 PM
    And help on how to put together an email to them re my rights etc and how can I get my money... could potentially lose my house over this error ..
    Originally posted by fifikav
    There's clearly been some mix-up between YBS and whoever administers the scheme from your company if they're saying different things. Personally I'd pursue this with your company rep, not least from the perspective that if there is any possibility that your company has erred then they may be able and willing to make an emergency short-term loan/advance to you to tide you over while it's sorted out. Presumably there will be others in the same boat too, do you have any colleagues affected in the same way?

    Without knowing how a month's delay in a payout like this could cause you to lose your house, it'll be best to try to stay calm and focused - the "it's my money" angle really doesn't help so you should concentrate on ensuring that all parties stick to the published Ts & Cs of the scheme (or accept liability if they don't).
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