Mis-selling question

fordy

He said Per Month, suspicious of this I checked using the ISA calculator and it said per year.

What am I missing Mike?

Mikeyorks

Just the fact that you keep quoting £85.25pm ...... when the interest is correctly £82.25pm. Then you quoted the latter figure also!

I'm just gently pointing out that people make mistakes? £3500 @ 2.35% is never going to be close to that figure each month. Give or take the £3 difference ..... it is that figure per year

fordy

It's not that much per month that would be £987 PER YEAR.

Just saying exactly what was said to Mum.

£82.25 per year is £6.85 PER MONTH.

Trumpeter

I think Mike wants to be a bit pedantic. If you've used the numeric bit of your keyboard then it's easy to hit the 5 key instead of the 2 key. They even have a name for it. It's called "fat finger syndrome" (No disrespect intended). However, looking at the keyboard layout, it would be extremely difficult to hit the M key (for P.M.) instead of the A key (for P.A.)

fordy

not just typed, but said, several times.

Plus forgive me if i keep bouncing between £82.25 and £85.25.

opinions4u

fordy wrote: »

not just typed, but said, several times.

Plus forgive me if i keep bouncing between £82.25 and £85.25.

As we forgive those who bounce inadvertently between month and year.

atush

Basically you are doing what the advisor did- making a mistake between amts. The fact that his mistake is bigger than yours, isn't completely relevant.

I personally don't think you'll get far with the ombudsman, but go ahead if you want to(the point that they work for the bank may indeed help you). I think you can get some comp out of the bank, even if it is just 25 quid or so. But how much is your time worth to you? Or would you get better satisfaction telling off the manager then withdrawing your money? Or better satisfaction in getting the advisor in trouble by filing a formal complaint.

Ark_Welder

Where is the miss-sale? Reading the posts, the OP's mother did not go through with the investment, therefore no sale has been made, therefore, no loss has been experienced.

If there is documentary evidence that the figures were quoted for a month, then this would be a good reason for for bringing it to the attention of the branch manager so that the mistake can be prevented from occurring in future with someone else. Failing that, an email to the relevant head-office department might suffice.

fordy

Thank you, that's the kind of advice I was looking for in the first place.