Talking to the bank on the phone

Furch

Hi,

I have finally received a response from RBS about my claim for charges. They written to me since I completed and returned a financial statement for (to show my hardship status) and they are now asking me to contact them by phone.

So, my question is, are there any pitfalls that I need to be aware of when speaking to the bank on the phone ? I don't want to fall into any traps they may have and then be fobbed off.

Thanks

Orford

The obvious disadvantage is that there is no 'paper trail' of anything that is said or agreed, so ideally you should record the call. Even if you can't, inform them that you are recording the call (that will reduce the number of porkies dramatically!!) and make copious notes as you go. If they object, tell them to put anything in writing and end the call.

Furch

Hi

Thanks for the reply Orford. I followed your recommendation and recorded the conversation.

The result so far:

Firstly, my bank said they would alter my account so that I do not pay any interest on my overdraft and so that I will not have any charges.

I also told them that I have had a letter from my housing association threatening court action due to rent arrears. I was then told that if this action goes ahead to contact them again and they would: "look to see if we can escalate your case within the bank to a higher level to see if we can try to arrange something to stop that action for you"

With regard to the charges I am claiming for, the person I spoke to stated that under the FSA ruling there is a: "freeze on any refunds now".

Now I am certain that I meet the requirements for financial hardship hence my case for refunds should be brought forward, I tried to get this point across but it was just repeated that there is a freeze on all refunds for now.

So:

Am I being fobbed off here? Any advice on what my next plan of action should be?

Cheers

Furch

Bump:money:

natweststaffmember

Furch wrote: »

Hi

Thanks for the reply Orford. I followed your recommendation and recorded the conversation.

The result so far:

Firstly, my bank said they would alter my account so that I do not pay any interest on my overdraft and so that I will not have any charges.

I also told them that I have had a letter from my housing association threatening court action due to rent arrears. I was then told that if this action goes ahead to contact them again and they would: "look to see if we can escalate your case within the bank to a higher level to see if we can try to arrange something to stop that action for you"

With regard to the charges I am claiming for, the person I spoke to stated that under the FSA ruling there is a: "freeze on any refunds now".

Now I am certain that I meet the requirements for financial hardship hence my case for refunds should be brought forward, I tried to get this point across but it was just repeated that there is a freeze on all refunds for now.

So:

Am I being fobbed off here? Any advice on what my next plan of action should be?

Cheers

Different banks are treating hardship in different manners. It seems that NatWest modus operandi, is not to refund any charges and also to make sure that you don't pay any charges on items returned unpaid. They seem to be saying that they may pay out if you situation changes and that further action is taken against you. That is how I read it.

shamrock7

Would I be right in saying that if RBS could not satisfy with a reasonable answer you could escalate the complaint to the FOS who would then have to look into it is a financial hardship case? Just checking as I'm on Maternity leave with a similar complaint, thanks!

shamrock7

Would I be right in saying that if RBS could not satisfy with a reasonable answer you could escalate the complaint to the FOS who would then have to look into it is a financial hardship case? Just checking as I'm on Maternity leave with a similar complaint, thanks!

Furch

shamrock7 wrote: »

Would I be right in saying that if RBS could not satisfy with a reasonable answer you could escalate the complaint to the FOS who would then have to look into it is a financial hardship case? Just checking as I'm on Maternity leave with a similar complaint, thanks!

I'm not too sure, will have to look into this...

Does anyone here know?

Thanks

natweststaffmember

shamrock7 wrote: »

Would I be right in saying that if RBS could not satisfy with a reasonable answer you could escalate the complaint to the FOS who would then have to look into it is a financial hardship case? Just checking as I'm on Maternity leave with a similar complaint, thanks!

With the FSA Waiver, there is no compulsion on the banks to refund to the account. There seems to me to be a reasonable expectation that the bank stops charges for those is clear financial hardship so not worsen an already bad situation. There are instances in which they may refund ie not to do so would result in homelessness due to either eviction/repossession. I don't think there is anything that states that the bank have to refund any charges.

mikeandrach_2

do not use any evidence from the recorded phonecall. a few years ago i worked as a salesman for a major high street retailer. i innocently, unknowingly, solda preowned laptop as brand new. i did discover my error after it had sold but as a nervous 17year old kept my mouth quiet. the customer than rang me to raise some questions, in which i assured her the laptop was brand new never left the store etc. this is a serious offence, icould have had a £5k fine. i didn't know she had recorded the phonecall. the response from her lawyer was if she took me to court she would win, however if i took her to court for recording the phonecall i would win, and probably more than £5k so she dropped it. if you record a phonecall without getting the express permission of the other party before anything else is said, and without having the appropriate license, then you are in serious trouble. i know lots of people reccommend it etc but you can be in some serious hot water, you have no legal right to record a phonecall, just thought its worth pointing out as you may clam back a few quid then get taken to court for 10x more

nickmack

mikeandrach wrote: »

you have no legal right to record a phonecall, just thought its worth pointing out as you may clam back a few quid then get taken to court for 10x more

This is not true. If you are recording a conversation on your own telephone, this is perfectly legal if it's for your own use. If you wish to make the contents available to a third party, you need the permission of anyone you are recording.

This means you can't present a recorded conversation as evidence in court, but you could write your own transcript based on what was said and this would obviously be a very accurate account of what was said.