Barclays trying to mis-sell?!

CKhalvashi

I've just received a letter thanking me for my interest in Barclays Income Protection and Hospitalisation insurance, about 2 weeks after bunging some savings with them.

This raises some interesting points; the first being that I wouldn't be in the scope of the former in the first place (I'm a director on a foreign-registered Ltd company, with a 2nd office in the UK), meaning that I'm paid, then pay the UK tax the year after.

The second being that the cover only covers the UK, which I'm out more than I'm in (the policy has different regulations regarding half days, meaning that for HMRC purposes, I'm in the UK for 42 weeks of the year, whilst for the purposes of this, I'm only in the UK for 32 weeks of the year)

The third being that they bugged me in the middle of a meeting, after specifically being told that they can't have my work number, thus calling on my mobile, knowing that I work full-time.

The bottom line from the above three points is that they ought to have known not to contact regarding the product, as they ought to have known that it was unsuitable; especially when we were asked for details of my income, and the answer was 'Russia/Switzerland' with a load of HMRC forms and bank statements.

Any ideas?

CK

opinions4u

Tell them to remove you from all marketing.

The individual generating the lead won't know or understand the products that a seller has available in detail. No mis-sale there.

After completing a fact find, it is unlikely that the salesman would be in a position to flog you anything anyway.

So no mis-sale there either.

I'd put it down to over enthusiastic sales patter and move on.

CKhalvashi

opinions4u wrote: »

Tell them to remove you from all marketing.

The individual generating the lead won't know or understand the products that a seller has available in detail. No mis-sale there.

After completing a fact find, it is unlikely that the salesman would be in a position to flog you anything anyway.

So no mis-sale there either.

I'd put it down to over enthusiastic sales patter and move on.

1) Done
2) That's pretty understandable. I think I'm expecting too much of bank computers in a way. It just seems ridiculous having to go through various forms, foreign (2 months of the 6 Russian ones were Barclays, before they sold to VTB24) statements and proof that I'd paid the required tax on the income before they'd let us dunk the savings where we wanted them.
3) I knew that they hadn't mis-sold, it was more the attempted bit. I think I've answered that one in (2)

Thanks o4u

CK

dacouch

Buying a financial product from a bank, normally gives you the worst possible value for money.

If you want this type of product, shop around and find the best combination of cover and price

dunstonh

Barclays have pulled out of advised sales. You are getting marketing and not advice. So, it won't be tailored to your needs.