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Direct Debit Indemnity - what do I need?
Comments
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You don't think they would know the exact terminology? :rotfl:While that may very well be the case, when dealing with poorly trained bank staff you should probably be careful to use the exact correct terminology, otherwise you might find they get confused.
They won't get trained that on sales course at the start of their career!0 -
While that may very well be the case, when dealing with poorly trained bank staff you should probably be careful to use the exact correct terminology, otherwise you might find they get confused.
It's nothing to do with poor training it's to do with the staff being told to shirk their responsibilities because it may cost the bank money.I'm not cynical I'm realistic
(If a link I give opens pop ups I won't know I don't use windows)0 -
I spent 9 years managing a branch. On no ocassion was any instruction given from either myself or anybody higher to renege on the terms of the direct debit scheme.It's nothing to do with poor training it's to do with the staff being told to shirk their responsibilities because it may cost the bank money.
Go with the conspiracy theory if it makes the evening more exciting. The truth is far more mundane. The staff member simply didn't know what they were doing and tried to bulls**t their way out of it.
Guess work on the part of the staff member, not the policy (written or otherwise) of the bank concerned.0 -
jonesMUFCforever wrote: »Whilst I am in full agreement that the bank should refund under the D/D indemnity scheme is it not an absolute disgrace that Vodafone are using the system like this.
It is their error in taking the payment why cannot they do the refund themselves?
Because the Direct Debit Guarantee says it is the BANK's responsibility to refund the customer if there is an error. Regardless of who make the mistake.0 -
It's the same thing we know what the OP meant
No it is not the same thing.
The Direct Debit Guarantee scheme is for the customer and provides that the BANK does a full and immediate refund to the customer if there has been an error with a direct debit.
The Direct Debit Indemnity is what the bank uses internally to get the money back from the supplier. It is not immediate.
Naughty banks like to pretend they are the same thing so they can fob the customer off with an Indemity claim (no loss to the bank) instead of a Guarantee claim (the bank has to foot the bill and try and get a refund).0 -
I think it is a disgrace that when the Direct Debit is taken in error, item is returned unpaid and that the charges are not refunded under the DD Guarantee Scheme and the bank doesn't retrieve it from the company direct. At the end of the day, the Direct Debit Guarantee Scheme is same day return of monies while the DD itself goes through the BACS system and takes 3 days.jonesMUFCforever wrote: »Whilst I am in full agreement that the bank should refund under the D/D indemnity scheme is it not an absolute disgrace that Vodafone are using the system like this.
It is their error in taking the payment why cannot they do the refund themselves?
It ain't ideal but it is about protection to the consumer that counts.0 -
It's nothing to do with poor training it's to do with the staff being told to shirk their responsibilities because it may cost the bank money.
As much as a conspiracy theory is nice, it is mainly poor training. Some bank staff we met didn't even understand what power of attorney was and that ain't going to cost them anything!
Simply the majority of counter staff now do not go through banking examinations (probably because if they were qualified it would be one up the pay scale) and are sadly nothing more than retail salespeople who get flummoxed by anything out of the ordinary. It isn't their fault- it is the way banking has gone.0 -
I'd agree with that - I walked into nationwide earlier in the year to ask if they had any more information about when faster payments would be implemented - cue all 4 staff standing around looking blankly at me. None of them knew about Faster Payments, even though Nationwide accept incoming FP on their new current accounts!0
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JohalaReewi wrote: »No it is not the same thing.
The Direct Debit Guarantee scheme is for the customer and provides that the BANK does a full and immediate refund to the customer if there has been an error with a direct debit.
The Direct Debit Indemnity is what the bank uses internally to get the money back from the supplier. It is not immediate.
Naughty banks like to pretend they are the same thing so they can fob the customer off with an Indemity claim (no loss to the bank) instead of a Guarantee claim (the bank has to foot the bill and try and get a refund).
Yes it is. It is still part of the direct debit 'process.'0
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