conned into buying insurance....

charldde

Please can you guys help me?

this is going to be very long so bear with me,


In January i went into my bank for a financial review, the banks assidtant (lets call him jason so i can keep up with myself lol) tried to sell me life insurance fo £10:xx a month, repeatedly i told him i had life insurance and i wasnt really interested but i would think about it and let him no. he was very persuasive and asked if he could at least do a health questionaire to check if i was eligable, which i was. i however continued to decline the offer. Jason asked if i had insurance for my daughter (2 years) i said no, but you cant insure children - he continued to talk about how i should have insurance for her in the event of my death i realised he meant life in surance for me to pay out to her in the event of my death. i still said no. as i left the meeting my parting words were i would let him know if i decided to go ahead with the insurance.

6 weeks later i noticed i had had two lots of £10.xx deducted from my back account when i queried this i was told it was life insurance, i explained i hadnt taken up insurance with them and was directed to Jason, he said he couldnt remember if i had signed for it but he remembers me saying i would let him know and that there were some ircumstances regarding my acces to my current life insurance paperwork to check if the policy was a s good as the one he was offering me. he promised tp look into the matter and let me know what had gone on. he also said he would get me a copy of the signed paperwork.
now fast forward 7/8 weeks and countless messages left for jason i still had no contact from him.
i phoned the bank and spok tpo a manager she spoke to Jason he said he remembers that i signed the paperwork and she says they have a signed copy of the agreement with my signature on it - she is posting me a copy out.
now i never agreed to the life insurance and wouldnt have signed for it so how has he managed to get my signature on it?? where do i go from here? i dont care about the money but i have been conned and he needs to disaplined. i know i need to write a letter of complaint but i cant seem to write it in an articulate way, i feel like its my word against his and im just the annoying customer who wants her money back - but they can stick the money.
sorry for rambling.... any advice?
T.I.A
charlene

bodybutter

I would write to the bank and title the letter complaint of misold insurance and bullet point the sequence of events.

pedro123456

Ring FSA (finacial Service Authority) , get Jason's surname report him and ask their advice

020 7066 1000

Pete

dunstonh

Signatures are likely to be on the application, direct debit mandate and many of the banks like you to sign their factfind or suitability report. Although technically, none of those things actually require signatures.

You would have been sent cancellation rights by the insurer directly giving you the chance to change your mind.

You would also have been sent a schedule of payments by the insurer to let you know the amount and dates they would be taken from your account.

So, lets assume the sales rep did go over the top and pressure you (it was a sales rep you saw so you expect that) and lets assume he fraudulently sent off the application to the insurer as you say, why didnt you act on any of the other paperwork that would have been sent to you? (i'm not judging you but I would expect them to ask you this question if you complain).

If you think you have been ripped off you should complain to his employer. There is a formal complaints process and they have to follow it when making a complaint about a regulated individual.

charldde

thankyou for your help.

Today i rang RBS customer helpline to get there ombudsman phone number and a kind lady there has offered to do a investigation. She said to give her ten days.
The only thing i recieved from the insurers RSA was a letter saying they hadnt been able to take the third payment and to contact them within so many days if i intended to carry in the payments, this was a few days after i had been to the bank the second day and i contacted them to explain the problem and they froze the account.
i will leave the complaint with the bank for ten days then move on to the organisation pp mentioned.
thanks
charlene

dunstonh

i will leave the complaint with the bank for ten days then move on to the organisation pp mentioned.

The FSA wont be interested. They will just pass your "complaint" back to the bank to look at.

At the moment it sounds as if the bank are doing an internal check and not treating what you say as a complaint. So, if you dont get a response in that 10 days you should escalate it with them and state that you wish it to be treated as a formal complaint. That has a set of rules laid out by the FSA and also allows you to then go on to the ombudsman if they do not respond within 8 weeks. You cannot go to the ombudsman directly (they would just forward you complaint to the bank to look at).

So, give the bank a chance. If nothing in that 10 days, then make it formal.

The only thing i recieved from the insurers RSA was a letter saying they hadnt been able to take the third payment and to contact them within so many days if i intended to carry in the payments, this was a few days after i had been to the bank the second day and i contacted them to explain the problem and they froze the account.

That sounds weird as the cancellation rights are sent by the insurer. Not the sales rep. The direct debit payment dates and amounts are a requirement under direct debit rules and are also sent by the insurer, not the sales rep. That would be sent in a different post to the cancellation rights. There is also the policy document which is sent out in a different post as well. So, that is at least three letters you havent received as well as you saying you didnt sign anything.

charldde

juat a quick update,

i have recieved in the post a copy of the paperwork.

It seems the signatures on the application or the declaration are not mine!!

i have since been into the bank who agree that the signatures do not look alike let alone look like mine. the member of staff is now being investigated.

i have also phoned the police.

As far as the paperwork goes it apears RSA sent out 2 pieces if paperwork that i didnt recieve the first being the rights to cancellation letter and the second being the policy.
the third letter they sent i did recieve.
what happened to the first two i do not know, i can only imagine they went awol lol.
thankyou for your help.

pedro123456

Good on ya charldde...................well done.

Now get him locked up.............these enough cheifs robbing us and thats bad enough without the indians starting.

And as for RBS/RSA they are the biggest thieves.

Pete

dunstonh

i have since been into the bank who agree that the signatures do not look alike let alone look like mine. the member of staff is now being investigated.

Sackable offence, end of career in financial services anywhere and bad references from the bank will make the person near unemployable in any decent job.

It seems stupid though that someone would do that as they would obviously get caught.

what happened to the first two i do not know, i can only imagine they went awol lol.

The rep wouldnt have anything to do with those. They are automatically sent via the processing office. Not the branch or rep.

byb3

dunstonh wrote: »

Sackable offence, end of career in financial services anywhere and bad references from the bank will make the person near unemployable in any decent job.

No doubt with the nature of the banking industry, he'll be more employable.