Natwest mistake (Want compensation)

dil1976

My GF just over a month ago went to deposit £50 into her ISA which already had £50 in, when she was talking to the cashier she was informed that she was entitled to a better intrest ISA. My GF tokk her up on the offer and went through the motions of closing old ISA and opening the new one.

SHe recieved a confirmation letter saying that the old Acc had been closed, all funds deposited into her current Acc and would then be transfered into the new ISA.

Forwad on another month and she went to deposit her £50 into her new ISA, whilst there she asked for a balance of her ISA, the cashier looked rather surprised and said that only the money she had gave her was in the Acc.


After carring out further enquieries it turned out that the money had never been transfered into the new ISA. She had subsequently spent it unaware of what had occured.

Now we are looking at raising a grievance with them to get the money refunded as it was being saved up for a holiday at the end of June which she currently cant go on due to this error.

Any advice on how to do this would be much appreciated.

opinions4u

dil1976 wrote: »

My GF just over a month ago went to deposit £50 into her ISA which already had £50 in, when she was talking to the cashier she was informed that she was entitled to a better intrest ISA. My GF tokk her up on the offer and went through the motions of closing old ISA and opening the new one.

SHe recieved a confirmation letter saying that the old Acc had been closed, all funds deposited into her current Acc and would then be transfered into the new ISA.

Which she never checked had happened.

After carring out further enquieries it turned out that the money had never been transfered into the new ISA. She had subsequently spent it unaware of what had occured.

Account holders have a responsibility to themselves.

Now we are looking at raising a grievance with them to get the money refunded as it was being saved up for a holiday at the end of June which she currently cant go on due to this error.

£50 is going to lose her a whole holiday?

Any advice on how to do this would be much appreciated.

Here's their complaints procedure.

If I've read right, she's £50 out of pocket, but did actually have the benefit of that £50 as she's spent it elsewhere.

While you can start the bidding at £50 I really don't see that she has lost anything. An apology for the !!!!-up and a tenner sounds more than fair to me.

Did a !!!!-up actually happen? Or did your girlfriend misunderstand what was said?

dil1976

No they transferred her money into her current ACC and she received a printed confirmation slip from the bank saying the money would be transferred into her new ISA wich they never did leaving her £100 out of pocket.


So after being instucted by my GF to transfer the money they never did.

As her wages vary every month she never really knows the balance of her Acc perfectly so when checking she believed the transaction to have been done within minute of her opening the new ISA so she had no cause to believe her current Acc was more than normal.

darich

But she's never been out of pocket.

They may have made a mistake in the transfer of the money but if they did, the money was simply put in your gf's account. If she's spent it, then she's out of pocket due to her own spending - not the bank.

If her money has been put into her bank account and she's been allowed to spend it (and has), can you please explain, how she's out of pocket????

Also if her wages vary every month then i'd suggest a regualr check on the bank account to spot any mistakes - identity fraud is more common than you think and if she's unaware of her account varying by that much and doesn't check statements then she may well be held partly liable for any fraud - there may be a time limit on making a claim and if she claims a few weeks after the event, the bank's sympathy may have reduced somewhat.

As far as i can see she's not out of pocket through the bank and never has been.

EDIT : i just re-read your opening post - you're looking for a refund??? How can the bank refund something they don't have, or have ever had?? your gf has been in possession of all of her money the whole time so even if you feel the bank have screwed up, one thing you won't be entitled to is a refund.

dil1976

Like I said she had the money lined up for a holiday which she can now not afford.

I appreciate what your saying about her not being out of pocket but she was saving the money up like I said, now because the bank haven't carried out an instuction which she has in writing from the bank she is out of pocket? Surely this is proof enough that they are not doing as they say they will?

I dont believe she will get all the money back but a reasoable amount of compensation I believe is owed as they have left my GF out of pocket on her holiday money.

hieveryone

dil1976 wrote: »

as they have left my GF out of pocket on her holiday money.

No, your girlfriends reckless spending has left her out of pocket for her holiday money :rolleyes:
Tell her to take whatever she bought back.

dil1976

Not reckless spending but a banks incompetence, 1 whole month and they never tranferred the monies over to the new Acc. Not a phone call to say there are insufficent funds for the transfer or anything.

hieveryone

1 whole month without checking her balance?? Online/over phone/cash point/in branch/statement through door.

Surely this is a wind up?

As I said, tell her to take whatever she bought back for a refund.

dil1976

If you have nothing constructive to say can you please not say anything, thankyou.

hieveryone

Good luck with the bank Let us know won't you

dunstonh

Like I said she had the money lined up for a holiday which she can now not afford.

Her own fault though.

If you have nothing constructive to say can you please not say anything, thankyou.

Every response has been constructive. The account holder has a personal responsibility for knowing how much money they have in their account and the transactions going through it.

An error occured but it didnt put her out of pocket. So, there are no grounds for compensation.