Beware MBNA balance transfer practices

stustu92

Hi all, just thought i'd let you all know about a recent experience i had with an MBNA credit card i already held.

I was cold called and asked if i wanted a 0% balance transfer for 9 months - i didn't have the details of the balances i could transfer at that time so i asked the caller to call the day after.

When i proceeded with the transfer the day after, i complained about there being no mention of a BT fee on the original call. The guy said that the fee was 3% and i said i didn't want to do the transfer unless the fee was reduced.

I was then told that the fee could be reduced to 1.5% and i agreed at that.

However when the transfer went through a few days later, i noticed that the fee that had been charged was 3%!

I called MBNA and they explained that these cold calls are done by an outside company who are contracted by MBNA, and there was no mention of the fee reduction when the details were passed to MBNA.

I was told that if i could pay MBNA the amount of the balance transfer back, they would be able to refund the fee, but there would be no reduction of the fee.
The adviser explained that it was the company who did the cold calls who were at fault and as such MBNA weren't at fault.

I said it certainly wasn't my fault that MBNA use employees or external contractors who aren't trained correctly or who say anything to get business.

After much discussion with a manager she agreed to refund half the fee, which was what was originally agreed.


My advice is:

If you get a special deal agreed with anyone working for an organisation, record a name and department for if the agreement is not honoured.


I am not happy with the service i have received from MBNA and i'll be cancelling my card with them, as soon as the 0% offer expires.

johnmoney05

I think you got a good deal, didn't you?
1.5% is a bargain.

aj3001

You gave out your personal details and other bank card details to a cold caller?

YorkshireBoy

stustu92 wrote: »

My advice is:

If you get a special deal agreed with anyone working for an organisation, record a name and department for if the agreement is not honoured.

Good advice, but also record the date and time of the call (for the benefit of the tape, and all that!). Faced with having to trawl through tapes (especially if you're clearly confident in what you're saying), many organisations will simply refund you.

I am not happy with the service i have received from MBNA...

From reading your post, MBNA have given you excellent service. It's the outsourced agency (Excel in Scotland by any chance?) that has 'misled' you, not MBNA.

...and i'll be cancelling my card with them, as soon as the 0% offer expires.

Since I've enjoyed a constant 30 months of 0% offers from MBNA, I'd have to say that closing your account (because of a grievance with a third party) would not be the best move you could make.

stustu92

I agree that i got a good deal in the end, but i wouldn't have taken the BT offer if they insisted on 3% as a fee.

The thing that annoyed me is the caller agreed to cut the fee when he had no intention of the fee actually being cut.

This is typical of the greedy 'sales targets' based financial services companies, taking advantage of customers who are either afraid to complain or don't want the hassle.



The caller already had my details as he asked for me by name.

aj3001

He had a copy of the electroal registar, that means nothing, give me your address and I could tell you your name and phone number, doesn't mean to say I'm genuine

You were lucky you only got charged a 3% fee, you could have had your cards maxed out and been a victim of fraud

stustu92

I agree that in the end it wasn't MBNA who were at fault, but they are the ones who pay for the poor service offered by this other company ( which may well be Excel in scotland, as the guy had a scottish accent), and the other company in this case are representing for MBNA .

I don't agree that i had excellent service from MBNA because the call i made to MBNA took 20 minutes for them to agree to refund half of the fee.

stustu92

aj3001

Fraud is going to happen whether individuals are careful or not. The caller had all of my details, asking me to confirm my security word and DOB.

Can you tell me my credit card company and number also just from my address?

mountainofdebt

stustu92 wrote: »

aj3001

Fraud is going to happen whether individuals are careful or not. The caller had all of my details, asking me to confirm my security word and DOB.

Can you tell me my credit card company and number also just from my address?

How do you know they had your details?

I mean I ring you up and ask you your DOB. You give me a date and I make suitable agreeing noises. Now unless you have knowingly given me the wrong date would those noises sound out of place?

I'm sorry but I don't give out any info like that unless a) I have called the company myself or b)the company have satisified ME that they are who they say they are by ME asking THEM a security question first.