How long do banks have to reply to a letter of complaint?

[Deleted User]

I sent a letter of complaint to Barclays on 20th July by email - which was acknowledged by a phone call to me on 21st July from the recipient - about my Graduate loan. It was quite a complicated complaint, but in summary:

Requesting a copy of a 2005 loan agreement that the branch can't find on their system
Requesting an explanation of what happened to a partial PPI repayment in 2006
Requesting a breakdown/statement explaining what happened to payments I made pre-2006 after which point my new loan was restructured to remove PPI

I was provided with a complaint reference number on the telephone back in July, but the letter formally acknowledging my complaint was only 'sent' on 1st September (and I only received this on 18th September).

It's now the 28th September, so unless my maths is dodgy, it's now TWO MONTHS and EIGHT DAYS since I sent in my original complaint (and two months and seven days since it was acknowledged).

Surely banks have a responsibility to respond before then? Or maybe they don't?

[Deleted User]

Just spoke to Barclays.

They told me that the 'review date' for my complaint is 21st October, so I won't receive a response before then.

Even making the assumption that they review the complaint and respond on the same day - which isn't likely to happen - that means that from acknowledgement of my complaint to receipt of their response =

3 months and 1 day

FSA guidelines require them to respond within 8 weeks.

What a totally pathetic organisation. I implore you all to take your business with them elsewhere.

standupguy

You could phone the Financial Ombudsman service and give them the dates.

Barclays should acknowledge the complaint within 5 days and resolve within 4 weeks.

If they cannot do this they should send a holding letter at 4 weeks and then have a further 4 weeks.

After this time if your complaint is not resolved then you have the right to take this to FOS.

So, you could phone Barclays and tell them what you are now going to do or just byypass them and go straight to FOS. This will the then get FOS on their backs

[Deleted User]

I just spoke to the FSA via the moneymadeclear website and told them what was happening. I've been told to expect a call back within 72 hours to discuss.

Shambolic! They acknowledged the complaint within 24 hours (by phone) but within 8 weeks in writing. No holding letters or responses...and they're not even going to look at it for another five weeks.

misscutiepie1984

good luck I have had a complaint with them since April and its still not resolved.