Morgan Stanley £20 Annual Fee

pabby-ellis

what happens to my accrued cashback?

i wrote to ms and said i wanted to close account with effect from 1.6.07 but the jammy !!!!!!s closed it a week early and left both my husband and i without a credit card because both were refused at checkouts!!

also having trouble getting hold of a fees free 0% credit card to replace my sainsbury one that is just about running out. ulster dont' seem to want to send a form and norwich & peterborough only give cr cards to existing customers. could i just open a simple current account online to pass as an existing customer?

Shiggaddi

I wrote to them and complained about the cashback, and they sent me a cheque as a gesture of goodwill. I did explain in my letter that I regard the fee as a penalty for not agreeing to the change in the T&Cs, in that I won't be entitled to my cashback if I decide to cancel. Perhaps my letter was worded sufficiently enough that they thought it was easier to pay the £7, rather than risk a complaint with the ombudsman.

I never mentioned in the letter any instructions to close my account, and I left it till the last day to call customer services, just incase they had so many closures they had some sort of plan to retain customers, but they closed my account as per my request.

You could always write a letter stating about the lost cashback, and say that you regard the lost cashback as a penalty for not agreeing to new T&Cs, and that you should be able to cancel without penalty.

As for my credit card, I am with Egg Money, and did have MS as my main card before, but as my Egg limit was low, I used my MS as a back up, and in times when Egg was being used to route stoozing money.

patrickbateman

I rang up and cancelled at about the 10th May, received letter a few days later confirming this.

Today got my monthly statement, statement date 2nd June, no mention of the feebut it seems that my account is still active as it still shows my credit limit and account balance. Quite worried by this. Also information that my account has been transfered to Goldfish.

Has this happened to anyone else, and what do you have to do to cancel a credit card these days!!!

Shiggaddi

patrickbateman wrote: »

I rang up and cancelled at about the 10th May, received letter a few days later confirming this.

Today got my monthly statement, statement date 2nd June, no mention of the feebut it seems that my account is still active as it still shows my credit limit and account balance. Quite worried by this. Also information that my account has been transfered to Goldfish.

Has this happened to anyone else, and what do you have to do to cancel a credit card these days!!!

Just keep the letter confirming the account has been closed, and you can't go wrong really.

They are probably sending out a standard letter to everyone, and there's nothing in the system to stop sending out automated mail to those who have closed their account.

spring85195

Shiggaddi wrote: »

Just keep the letter confirming the account has been closed, and you can't go wrong really.

They are probably sending out a standard letter to everyone, and there's nothing in the system to stop sending out automated mail to those who have closed their account.

I cancelled, and the statement I receive this morning is different, instead of blue, the statement is in blank and it does say last statement on it.

Together with a note saying they are sold to goldfish.

notbritishgas

patrickbateman
I presume the balance on your June 2 statement was £0. They will not close the account finally until that happens.

patrickbateman

Yes it was 0.00

Thank you for the advice.

SarahNeedle1872

A bit off thread, but still relevant.... When I want to cancel my card, and subsequently have to write to claim my cash back (£13:mad: ), am I now writing to Goldfish? Or still the same address/phone number?

MrsMillar

patrickbateman wrote: »

Today got my monthly statement, statement date 2nd June, no mention of the feebut it seems that my account is still active as it still shows my credit limit and account balance. Quite worried by this. Also information that my account has been transfered to Goldfish.

I had EXACTLY the same - no mention of the fact that the account was closed. However, statement date was 2 June, and the annual fee would have been taken on 1 June if the account had still been active. You'd have thought they'd just put "account closed" or something SOMEWHERE on the letter/statement.

I also wrote to MS complaining about the loss of cashback earned in good faith. My statement had all my cashback as £0 (i.e. that which was previously earned and unclaimable has simply disappeared). If I get anything back, great. If not, I'm not going to chase it - just writing the letter made me feel better as I felt they deserved to know why people are angry with them and why people are closing their accounts.

Shiggaddi

MrsMillar wrote: »

I also wrote to MS complaining about the loss of cashback earned in good faith. My statement had all my cashback as £0 (i.e. that which was previously earned and unclaimable has simply disappeared). If I get anything back, great. If not, I'm not going to chase it - just writing the letter made me feel better as I felt they deserved to know why people are angry with them and why people are closing their accounts.

They have to reply to your letter either way, even if it is to say that they're not paying the cashback.

You might find a letter in the next few days justifying the annual fee, along with a cheque for the accrued cashback as a "goodwill gesture"