How to write to a bank requesting compensation?

HAVEFAITH

Hi, I would like to write a letter to the bank in respect of a huge screw-up which cost a lot to sort out. It involves a rate difference of sizeable loan some 5 years ago. They cannot produce docs but have admitted it as their error.

Does anyone know how to construct such a letter ... I want to get it right first time.

squeak24

The chances are they will offer some pathetic kind of compensation initially. I have recently received some compensation from my former bank, but that was finally agreed via the FOS for a huge mistake they made.

When I first asked for compensation they offered some flowers, or a box of chocolates which, after I stopped laughing refused.

I requested compensation of 1000, I personally didn't get that much, but the cost that the complaints procedure cost the bank it probably would have been cheaper for them to settle then rather than having it dragged through the FOS.

I am unsure about writing a letter requesting for compensation, I initially wrote to them requesting compensation for the distress and inconvenience due to a mistake, which they acknowledged was there mistake. Make it a human request rather than you made this mistake I want compensation, detail how much you want, likely you won't get it, if all else fails take it to the FOS.

Always ask for more than what you actually want. I asked for 1000, but I knew I wouldn't get it, I got 500 in the end.

Always contact the the CEO of the company, don't just send it to a random department, I have found you are more likely get a response within the eight weeks that is satisfactory if you go straight to the top.

I have had another complaint with the same bank, and once this is complete I will be invoicing the CEO for the administration costs that I have incurred with relation the complaint. They have upheld it, I am just waiting for the payment of what they owe me, then I will be sending in my invoice.

Good luck

PNPSUKNET

squeak24 wrote: »

The chances are they will offer some pathetic kind of compensation initially. I have recently received some compensation from my former bank, but that was finally agreed via the FOS for a huge mistake they made.

When I first asked for compensation they offered some flowers, or a box of chocolates which, after I stopped laughing refused.

I requested compensation of 1000, I personally didn't get that much, but the cost that the complaints procedure cost the bank it probably would have been cheaper for them to settle then rather than having it dragged through the FOS.

I am unsure about writing a letter requesting for compensation, I initially wrote to them requesting compensation for the distress and inconvenience due to a mistake, which they acknowledged was there mistake. Make it a human request rather than you made this mistake I want compensation, detail how much you want, likely you won't get it, if all else fails take it to the FOS.

Always ask for more than what you actually want. I asked for 1000, but I knew I wouldn't get it, I got 500 in the end.

Always contact the the CEO of the company, don't just send it to a random department, I have found you are more likely get a response within the eight weeks that is satisfactory if you go straight to the top.

I have had another complaint with the same bank, and once this is complete I will be invoicing the CEO for the administration costs that I have incurred with relation the complaint. They have upheld it, I am just waiting for the payment of what they owe me, then I will be sending in my invoice.

Good luck

you may find that the compensation is in full and final, in which case this takes time into consideration

HAVEFAITH

Is there a template out there to guide me along pls?