Bank not opening account even after agreements signed?

Emptypockets_2

Hi all,

I have a question which i hope you can help me with.

A few months back I went into my bank and 'opened' an ISA account and a savings reserve account. At the time i also transferred my current account into a 'gold' account (unfortunetly). All the documents were signed and i agreed that certain amounts were to be transferred from my current account into these new accounts. at the time i did not ask for monthly statements as i didnt expect to make many more deposits in the 2 new accounts (savings and ISA).

A few busy months later i go into my bank and accidently get a look at my details screen... and see that i only have 2 accounts, my current and the savings account .. and the savings account has a zero balance despite me transferring a few thousand pounds into it.

the bank did not set up the ISA at all and set up the savings account without transferring any funds.

In this period i spent like a fool thinking that i had these extra reserves stored away. While i hold my hands up that i should have checked to see if the money had been transferred, is the bank not responsible for carrying out its promised actions? I would never have gone as spending crazy if i had known the current balance was ALL i had, with nothing saved away.

Please could you let me know if there is anything i can do or say to the bank regarding this issue? When i spoke to them they jus said sorry and asked if i still wanted to open an isa with them now?!

All comments welcome

many thanks!

gt94sss2

Emptypockets wrote:

Please could you let me know if there is anything i can do or say to the bank regarding this issue? When i spoke to them they jus said sorry and asked if i still wanted to open an isa with them now?!

You need to follow the banks official complaints procedure (ideally in writing) and complain about the following two issues:

1) Failure to follow instructions (open ISA, transfer money etc)

2) That this has led you to spend more than you intended etc.

If the bank does not offer you a satisfactory response/compensation, you can then escalate the claim - normally to the financial ombudsman (I think)

Here is something they published which gives some of their views about banking errors and who is responsible.

Regards
Sunil