ombudsman moan moan

shoi

I thought the whole ethos of this site is that banks (etc) can't always use the small print to get out of their obligations. In this instance making a Tracker account actually Track.

As for the rest, I'm satisfied you're wrong, but let's drop it, it doesn't affect the point. Unless you are contending that no rightminded moneysaver would ever use an offshore account based in IoM, well I don't agree with that either.

dunstonh

I thought the whole ethos of this site is that banks (etc) can't always use the small print to get out of their obligations. In this instance making a Tracker account actually Track.

God forbid that a bank does what it documents what it is going to do. What is the world coming to when the documentation matches what was done.

This site is about value for money and making sure things are correct for the consumer. Not to bash where there is no wrong doing.

shoi

dunstonh wrote: »

God forbid that a bank does what it documents what it is going to do. What is the world coming to when the documentation matches what was done.

This site is about value for money and making sure things are correct for the consumer. Not to bash where there is no wrong doing.

But I rather thought that ripoff bank charges and PPI both matched the smallprint.

opinions4u

shoi wrote: »

But I rather thought that ripoff bank charges and PPI both matched the smallprint.

Is there a PPI reclaim industry on IOM?

(The "ripoff" bank charges were legal, by the way)

ChiefGrasscutter

Hopefully the OP will have learn't the hard way that they should read all T&C's carefully and make a note in their diary/spreadsheet etc of any critical dates involved.
That will be the best way to ensure that in future they will indeed save money in the long term.

Perhaps also in their professional business life they will now understand that writing carefully constructed customer T&C's and even requirements for the customer to meet for insurance poilices to remain valid will one day save their business a great deal of money when something their company makes goes wrong.

shoi

opinions4u wrote: »

(The "ripoff" bank charges were legal, by the way)

Much to everyone's surprise and disappointment. They were never right.

shoi

Just to make my general point here are some words from the UK code of practice (not therefore applicable to me, but at least making the point that my complaint would have merit in the UK)
BCOBS 4.1.2 01/11/2009
http://www.fsa.gov.uk/doing/regulated/banking/bcobs

(5) Where, under a contract for a retail banking service, an introductory, promotional or preferential rate of interest applies to the retail banking service until a specified future date or the end of a fixed period, a firm should, where appropriate, provide notice of the expiry of the application of that rate of interest to the banking customer on paper or in another durable medium within a reasonable period before that rate of interest ceases to apply.
(6) In determining whether it is appropriate to provide the notice referred to in (5), a firm should consider:
........(c) the period of time that has elapsed since the firm last provided information to the banking customer in relation to the period for which the introductory or promotional rate of interest is applicable and the effect of its expiry.

So the smallprint of 2 years ago isn't sufficient.

Now all I have to do is to get the Isle of Man to take notice of the British Banking Code of Practice. I think they are in the British Isles but not Great Britain (nor UK).
However there is an IoM rule which says
A licenceholder must.... — observe high standards of integrity and fair dealing in carrying on regulated activities, ....and comply with any applicable code or standard which is imposed or endorsed by any professional body of which the licenceholder is a member,

So I think I'm still in with a shout. And to all those of you who seem to feel that it's all my fault that I allowed the bank to shaft me, well snooks to you, in the UK at least, they have protect the customer better.

AndyinLondon_2

Hi shoi

I don't want to comment on your underlying complaint, however I do have some limited experience in dealing with the IOM regulator. My view is that you are on a hiding to nothing and should not waste any more time on this. The IOM is not part of the United Kingdom or European Union (I believe the BCOBS rules you quote are derived from or influenced by EU regulations). They are therefore of no relevance to a business operating in the IOM.

If you were an IoM resident you could try approaching your Tynwald member but as you live in France I don't think you'll get the result you want.