Help: Santander Missing Documentation

RoloMe

Hi All

I hope to pick some brains and get some advice, this is a long story so i am going to try and keep it as high level as i can so may gloss over some details, if you need clarification please don't hesitate to ask.

So about 2 years ago i signed up for a Santander Current account online due to the fact that they were offering me a better rate and deal than my current provider.

Once i had signed up they sent me numerous documents to sign via the post to my home location. At this point i was out of the country on work for 3 months, never signed them and upon my return back into the country i had a pile of letters from my direct debtors and Santander stating that they were unable to take payment from my account and Santander stating i was overdrawn, massively.

I contacted my bank to see what was happening and they informed me they received a request to transfer all my direct debits to Santander. I then contacted them and queried what was going on and was informed they had received "Signed" copied of my paper work and setup the account.

Now if we pause for a brief second, the account setup process includes a switching service which allows its members to enable santander to Setup the new account, transfer funds from your current bank, transfer all standing orders, close the aforementioned bank account and then inform your employer. They however, had only moved my direct debits, they had not completed the process fully. This is what resulted in me being hugely over-drawn in their account.

Back on track, i asked them for a copy of said paper work as i had not sent them anything, they informed me that it was not retained and destroyed within 7 days of receipt. which i know is not true. I tried to reason with them and offered to settle my direct debits but not the over-drawn charges (amounting to over £700) but they refused and threatened to take me to court, i have insisted they do because i know they are wrong...but they never proceeded.

I have since learnt they have added a Default on my credit record and i have now engaged the Financial Ombudsman to help me fight this and they have asked if i can get a copy of the documentation they initially sent me, with it being a few years ago and a house move i fear i may not have it any more. The investigator has advised they have requested it from the bank but they too, do-not have a copy (...funny that!).

My questions essentially boils down to, is there a law or a guidance that sets out how long banks must retain this sort of information and have it available for customers. I swear i heard that banks have an obligation to keep an archive of all correspondence for X Years, but i i can't find it written anywhere as supporting proof to my case.

Many, Many Thanks in advance!

BenL

6 years minimum I believe in any format.

Application forms might be even longer?

The actual paperwork can be destroyed as long as it has been scanned and stored electronically or on microfilm.

RoloMe

Hey Ben - Thanks for that, do we know where this sort of guidance is documented? I frantically tore apart their site but found nothing that states the duration they keep documentation.

I also searched the data protection act, but again, unfortunately there are no specific durations mentioned

BenL

Money Laundering regulations 2007

http://www.legislation.gov.uk/uksi/2007/2157/regulation/19/made

Section 19 - Record keeping.

Looks to be 5 years after the relationship has ended




Record-keeping19.—(1) Subject to paragraph (4), a relevant person must keep the records specified in paragraph (2) for at least the period specified in paragraph (3).

(2) The records are—(a)a copy of, or the references to, the evidence of the customer’s identity obtained pursuant to regulation 7, 8, 10, 14 or 16(4);

(b)the supporting records (consisting of the original documents or copies) in respect of a business relationship or occasional transaction which is the subject of customer due diligence measures or ongoing monitoring.

(3) The period is five years beginning on—(a)in the case of the records specified in paragraph (2)(a), the date on which—
(i)the occasional transaction is completed; or
(ii)the business relationship ends; or
(b)in the case of the records specified in paragraph (2)(b)—
(i)where the records relate to a particular transaction, the date on which the transaction is completed;
(ii)for all other records, the date on which the business relationship ends.

Lexxi

Look on the financial service authority and information commissioner site. It's there somewhere. Also try a subject access request to santander, but be prepared to fight, it has taken 4 years for them to acknowledge they messed up my OH acount.
We started the subject access request 12 months ago and are still waiting, someone at the complaints dept told my OH that they send out bank statements at first to all requests.

RoloMe

Ben - Thankyou, thats brilliant, i will use that as an example.

Lexxi - your point on a subject access request is something i came across, but they want to charge me the joys of £10 to do so, which i have no problem doing but i assume this is a bit like throwing money down the drain...atleast based on your experience.

I have gone back to the financial ombudsman with the above points and will seek their advice in how to progress forward, fingers crossed they can see my point in all of this!

Hopefully the very fact that santander have no signed material, refused to cooperate, are unable to produce and historical documentation, cannot explain the failed account transfer process, etc will support the fact that they were in the wrong here.

Fingers Crossed...!! Wish me luck, i think i might be in for a battle on this!