When is it reasonable to seek compensation?

Uncertain

Any opinions......

I have been messed about for a week or more by my bank. It is not easy for me to get to a branch so I use the internet as much as possible.

I've been trying to move a significant sum from a savings account which has dropped to negligible interest to other banks / building societies.

After a special visit to the branch they eventually and reluctantly moved half the money to my current account. Why this should take half an hour heaven only knows. I knew exactly what I wanted done but seemingly every obstacle was put in the way coupled with many attempts to sell me other products or offer "financial advice". I was assured I could use the online service to move more money when needed.

A few days later the system refused several attempts to move money saying that "on this occasion" it would take 48 hours. I reluctantly accepted this but 50 plus hours later nothing had happened.

After endless phone calls and listening to "music" I was cut off. I finally (at least half an hour) got a real person who couldn't help.

When my patience ran out I managed to find a direct number for my branch on google. Three calls later later (long story) the manager (who wouldn't speak to me directly) agreed "under the circumstances" to make a CHAPS payment free of charge.

However, they insisted that I had to go into the branch with my passport.

I made a special trip to see a named person, was kept waiting then 20 mins or more of form filling let to me being told it was too late for the payment to be made that day! It would be done the next day.

The person I saw agreed to personally check that no charge was made or, if it was, to credit it back.

The payment was finally made a 4.00pm the following day. Guess what, a £25 charge with no sign of a refund!

I made several attempts to call the branch on Saturday with no success.

What is reasonable compensation?

zppp

Uncertain wrote: »

Any opinions......

I have been messed about for a week or more by my bank. It is not easy for me to get to a branch so I use the internet as much as possible.

I've been trying to move a significant sum from a savings account which has dropped to negligible interest to other banks / building societies.

After a special visit to the branch they eventually and reluctantly moved half the money to my current account. Why this should take half an hour heaven only knows. I knew exactly what I wanted done but seemingly every obstacle was put in the way coupled with many attempts to sell me other products or offer "financial advice". I was assured I could use the online service to move more money when needed. This won't gain compensation unfortunately.

A few days later the system refused several attempts to move money saying that "on this occasion" it would take 48 hours. I reluctantly accepted this but 50 plus hours later nothing had happened. Is that 48 working hours? Also I would say that it depends on when the transaction was updated. (My bank doesn't update transactions until about 2am) Did the payment even go through in the end?

After endless phone calls and listening to "music" I was cut off. I finally (at least half an hour) got a real person who couldn't help.
Were you transferred incorrectly or did you go through an automated line?

When my patience ran out I managed to find a direct number for my branch on google. Three calls later later (long story) the manager (who wouldn't speak to me directly) agreed "under the circumstances" to make a CHAPS payment free of charge.

However, they insisted that I had to go into the branch with my passport.

I made a special trip to see a named person, was kept waiting then 20 mins or more of form filling let to me being told it was too late for the payment to be made that day! It would be done the next day.

The person I saw agreed to personally check that no charge was made or, if it was, to credit it back.

The payment was finally made a 4.00pm the following day. Guess what, a £25 charge with no sign of a refund!
Don't know what bank you are reffering to but some take a couple of days to recredit charges back. Also it looks like they have agreed to make a CHAPS payment as a gesture of goodwill.

I made several attempts to call the branch on Saturday with no success. Were they open on Saturday? You say no success, does that mean it kept ringing?

What is reasonable compensation?

Most banks will compensate for actual financial loss. See my comments in red. This is what I would be looking at. I think they need to refund you the CHAPS fee as promised (they may have done already). I also think they should refund call costs in recognition of your problems, but they will ask to see your phone bill for this.

YorkshireBoy

My recent personal experiences (with different banks):

CHAPS payment made 24 hours too late...accepted a reversal of £30 fee plus a further £50 goodwill.

Advisor not able to see me for a pre-arranged appointment...accepted £25 goodwill.

You'll note the above are 'goodwill' payments. As to 'compensation', well how much has the debacle cost you in financial terms? And what value can you place on the 'distress and inconvenience' incurred.

Add 'em all up and there's your figure.

Uncertain

Thanks

Yes they were open Sat - rang a number of rings then diverted to national "branch support".

They did agree that 48 hrs should mean just that. Not 48 plus rest of day!

Phone costs 4p per min on that type of number?

Parking and petrol for special trip to bank?

Lost interest on money?

My time?

Distress?

What is it worth to keep me as a customer?

What is it worth to the manager not to have to deal with a formal complaint that will be pursued to the bitter end?

zppp

Uncertain wrote: »

Thanks

Yes they were open Sat - rang a number of rings then diverted to national "branch support". This doesn't mean the branch was open on Saturday. Many banks now have a branch support team out of hours (a call centre)

They did agree that 48 hrs should mean just that. Not 48 plus rest of day! So how many hours did the transfer take? - this is not clear from your post. Was it to another bank, between your own accounts?

Phone costs 4p per min on that type of number? Was it an 0845 number, and 0870 number? Again, this is missing. I would say BT include it in some packages nowadays, so there may be no cost.

Parking and petrol for special trip to bank? Possibly but they agreed to do the CHAPS for free, which they weren't required to do. I'm sure that outweighs that completely.

Lost interest on money? What is the amount you have actually lost in interest?

My time?

Distress?

What is it worth to keep me as a customer?

What is it worth to the manager not to have to deal with a formal complaint that will be pursued to the bitter end?
[/QUOTE]

The part that I have turned orange text, is not acutal financial loss, unless you have had to take time off work unpaid etc and can prove this. At the end of the day, anything on top of actual loss is a gesture of goodwill, so if you are unhappy with their offer, you may need to escalate your complaint.

Uncertain

zppp wrote: »

Uncertain wrote: »

Thanks

Yes they were open Sat - rang a number of rings then diverted to national "branch support". This doesn't mean the branch was open on Saturday. Many banks now have a branch support team out of hours (a call centre)

They did agree that 48 hrs should mean just that. Not 48 plus rest of day! So how many hours did the transfer take? - this is not clear from your post. Was it to another bank, between your own accounts?

Phone costs 4p per min on that type of number? Was it an 0845 number, and 0870 number? Again, this is missing. I would say BT include it in some packages nowadays, so there may be no cost.

Parking and petrol for special trip to bank? Possibly but they agreed to do the CHAPS for free, which they weren't required to do. I'm sure that outweighs that completely.

Lost interest on money? What is the amount you have actually lost in interest?

My time?

Distress?

What is it worth to keep me as a customer?

What is it worth to the manager not to have to deal with a formal complaint that will be pursued to the bitter end?
[/QUOTE]

The part that I have turned orange text, is not acutal financial loss, unless you have had to take time off work unpaid etc and can prove this. At the end of the day, anything on top of actual loss is a gesture of goodwill, so if you are unhappy with their offer, you may need to escalate your complaint.

The branch WAS open - certain!

Online transfer was cancelled after 52 hours.

0845 and a real cost on my tarif on a weekday

CHAPS was to compensate for mistakes so far they then made more!

Parking and petrol would not have been needed had they not screwed up.

Interest can be calculated - doesn't matter whether it is £10 or £100!

zppp

Uncertain wrote: »

zppp wrote: »

The branch WAS open - certain!

Online transfer was cancelled after 52 hours.

0845 and a real cost on my tarif on a weekday

CHAPS was to compensate for mistakes so far they then made more!

Parking and petrol would not have been needed had they not screwed up.

Interest can be calculated - doesn't matter whether it is £10 or £100!

I think you're arguing with the wrong person here. I am just giving you an opinion on what the bank, whoever they are will look at. (which is what you asked ) They will look at the whole situation, I am only giving you pointers on the kind of factors they look at in determining compensation and redress.
I suggest you look at what myself and YorkshireBoy have stated and get a figure in your head that you want.

Uncertain

zppp wrote: »

Uncertain wrote: »

I think you're arguing with the wrong person here. I am just giving you an opinion on what the bank, whoever they are will look at. (which is what you asked ) They will look at the whole situation, I am only giving you pointers on the kind of factors they look at in determining compensation and redress.
I suggest you look at what myself and YorkshireBoy have stated and get a figure in your head that you want.

Sorry, wasn't arguing. Just clarifying that I have definite answers to these points.

I'm very annoyed with them (as you may have gathered). I suppose I'm looking for the most effective way of getting satisfaction!

AnonymousForObviousReason

I get the feeling it's Santander, if it is they seem to be dishing out £30 goodwill (because they've done nothing wrong so it's not compensation) gestures fairly often - I got one. Don't expect an apology or anything to change.

PNPSUKNET

how do you know by the hour, some banks only batch process at certain times of the day. Saturday, although open normaly with natwest shows as mondays date

JuicyJesus

Sounds like Halifax tbh, but that's just a guess. But anyway, my rule of thumb is to ask for any actual costs (i.e. travel to branch, costs of phone calls or correspondence), reasonable potential costs (i.e. interest you could have got on the money) and reasonable compensation for distress or inconvenience, which is usually about £25-50.

Work it out that way and put that to the bank, itemising it. Usually works in my experience.