Bank error - seeking compensation

YorkshireBoy

Compensation:

• All fees waived.
• Any fees charged by external companies (eg mortgage) reimbursed.
• The cost of obtaining money from elsewhere to see you through the two week period.
• Reasonable expenses covered. Reasonable* is £10 per hour plus cost of call(s). "Many, many, hours on the phone" is NOT reasonable.
• An amount for damage to credit file (unknown yet)**

Distress & Inconvenience (look it up on the FOS website):

• Distress (how do you quantify?)
• Inconvenience (already covered with the £10 per hour figure above?)

Goodwill:

• How much will it cost them to appease you and make you want to remain a customer?

Guidance:

The FOS case fee, should you decide to escalate a valid complaint, and if they agree to take it on, is £450.


* Reasonable is defined on the FOS website.

** You can't put a figure on this yet, so either wait until you've viewed your credit file or let them include this element in the goodwill section.

Lokolo

Nice one Northerner. Didn't even know that existed!

ShelfStacker_3

Lokolo wrote: »

Oh the number of Inactives we got (hehe)

There's at least one of them in every queue at my HSBC branch I swear.

noah271007

YorkshireBoy wrote: »

Compensation:

• All fees waived.
• Any fees charged by external companies (eg mortgage) reimbursed.
• The cost of obtaining money from elsewhere to see you through the two week period.
• Reasonable expenses covered. Reasonable* is £10 per hour plus cost of call(s). "Many, many, hours on the phone" is NOT reasonable.
• An amount for damage to credit file (unknown yet)**

Distress & Inconvenience (look it up on the FOS website):

• Distress (how do you quantify?)
• Inconvenience (already covered with the £10 per hour figure above?)

Goodwill:

• How much will it cost them to appease you and make you want to remain a customer?

Guidance:

The FOS case fee, should you decide to escalate a valid complaint, and if they agree to take it on, is £450.


* Reasonable is defined on the FOS website.

** You can't put a figure on this yet, so either wait until you've viewed your credit file or let them include this element in the goodwill section.

I concur with the above. Ignore those who keep harping on about opportunities for compensation! You ARE entitled to some kind of compensation. It shouldn't have happened and Abbey should know better! YorkshireBoy is spot on. If you need some help then just let me know.

Inactive

ShelfStacker wrote: »

There's at least one of them in every queue at my HSBC branch I swear.

And there is one miserable SS type cashier at every HSBC Branch as well.;)

Inactive

Lokolo wrote: »

As I said, I would expect £50 (I am a tight **** though) but obviously Inactive being the moaning ******* that he is, would expect a lot more.

You may think that Lokolo, but I will tell you one thing for certain, I don't let banks or any other companies get away with treating me like the OP has been, that is for certain.

If that makes me a " moaning ******* " so be it.

...and yes I would expect and get more than a measly, insulting £50, that you would be happy with.;)

ShelfStacker_3

Inactive wrote: »

And there is one miserable SS type cashier at every HSBC Branch as well.;)

Bit harsh?

housesitter

Yes. If they wish to retain you as a customer.

I've had 200 quid in compensation for being left with no card facilities ergo no online payments nor payments over the phone for 2 weeks.
I still bank with them 2 years later.

When I was younger (about 10years ago), I had a similar experience for less time when I moved one account from branch A to branch B so it could be with the other two. They did it the wrong way around.
As I was a student, probably, they gave me a case of wine in compo.
Same bank as I'm with now.

In the last 3 years I've had a few overdraw charges refunded as well which were entirely my fault.

If they are happy to admit to their mistakes and compensate, plus bend the rules for good custom, then I'm happy to stay loyal.


This week we will be discussing the rates on my savings account to see if they'll match elsewhere and a refund on a charge I incurred due to a SO going out early.
Maintaining a relationship still has benefits even if you are more of "just a number" these days.

olly300

OP rather than wasting loads of your valuable time seeking compensation write one letter asking for it, give them 14 days to respond to whether they will give it to you and tell them in the letter that you will move banks if you don't hear from them in 14 days.

Then move all your accounts over to another bank/building society without hesitation and this time open up 2 current accounts with different institutions. Search the board and google names to avoid ones with the most complaints. Also I strongly suggest you move all your direct debits yourself so there are no mix ups or bounced direct debits due to some companies refusing to co-operate with the banks switching services. It shouldn't take you long as if you run a small business I am sure you have all your personal paperwork filed neatly some where.

I personally don't recommend NatWest. And while I have had issues with HSBC and Nationwide their customer service people are willing to sort them out.

Inactive

ShelfStacker wrote: »

Bit harsh?

Perhaps, but you if can't take, don't give it..