Incompetent Lloyds TSB

xanti

Hi guys,

Hopefully this thread is in the right place.

I am wondering if there is anything more I can do about my issue than I have already done?

I received an inheritance cheque from SA in pounds sterling for around 7k and went to pay it into my local branch. Easy enough, right? Not quite...

First of all I was quizzed as to what/why and where this had come from (no problem, I have nothing to hide) and was then told it would take around 5 days to clear..also no problem.

A few days later I noticed that they had paid the money into my account then deducted it..twice..which left me 5k overdrawn.

The nice chap at the counter asked me to have a seat and all would be sorted in a few minutes. 25 minutes later I am still waiting (on my work lunch break) and the guy had not returned.

I spoke to another lady who was very rude and patronizing but eventually walked off to find out who was dealing with the problem. She found the people responsible who told me they thought I had left..(oh really, no one had checked??)

ok, after a further 15 minutes of ME having to explain what THEY had done wrong they said it would be sorted. I needed some cash so was then asked if I had enough money on my savings account to cover the amount (!!!)

I got my cash, complained about the rude lady and left...a few hours later I was told that the issue had been sorted...yaaaay. They refunded the money they had deducted. All good? No...

I have now received a letter informing me that they have lost the cheque and would get back to me within 20 working days and let me know if the paying bank would honour it after they sent them a copy...

If I need to replace this, it will take months, I have submitted a formal complaint online and am awaiting their response..was this the right thing to do?

Thanks for any advice

agrinnall

Yes. They have either 8 weeks to resolve the problem to your satisfaction or they can issue a deadlock letter saying they can't agree resolution - once either of these happens you can escalate your complaint to the Financial Ombudsman, which will cost LTSB at least £500.

Keep a copy of all communications (if the online complaint process doesn't provide you with a copy I would follow it up with a letter) and note all phone calls as this will help your case with the FOS.

http://www.financial-ombudsman.org.uk/

sennypijama

That's terrible.

However ... you are choosing to bank with an organisation that is so badly run, it had to be taken over by the Government. Do you really expect good service?

Once they've sorted this out ... vote with your feet.
There are much better banks, with much better service.

innovate

sennypijama wrote: »

There are much better banks, with much better service.

They all screw things up from time to time. All much of a muchness in my experience.

BugsyBrowne

sennypijama wrote: »

That's terrible.

However ... you are choosing to bank with an organisation that is so badly run, it had to be taken over by the Government. Do you really expect good service?

Once they've sorted this out ... vote with your feet.
There are much better banks, with much better service.

Barclays was luckily bailed out as well.

Gromitt

BugsyBrowne wrote: »

Barclays was luckily bailed out as well.

When? In 2008/9 when the bailouts happened, they stated that they "Refuse to accept bailout money to retain our independence." Instead they took £7billion by selling 32 per cent of the bank to Middle East investors (apparently, from various news sources). Knowing Barclays however, they probably asked for it later, after it went quiet.

TSB are one of the few to pay people £3 million/year as a salary though. No wonder they needed a handout of nearly 20 billion.

ChiefGrasscutter

Interesting.
It depends on where in the clearing cycle the cheque was "lost".
Others on here know far far more than me about the processessing sequences of cheques.
I thought anyway that Lloyds scan in the cheque at the cashier's desk at the instant of paying in.

I take it SA is South Africa?
Any bank seeing a one off cheque from a foreign country is going to look very carefully at it I'm afraid. How close they look will depend on many things. By not going though the normal sequences and being manually inspected perhaps it's is more suseptible to being 'lost'

p00hsticks

sennypijama wrote: »

There are much better banks, with much better service.

Would you mind naming some ?

jonesMUFCforever

If the cheque was drawn in sterling but on a S African bank (not a London office) then the cheque would/should have been sent for negotiation or collection.
The T&c of all banks state that if cheque is lost (eg post) when sending for funds they are not liable.
By all means complain and get a bit of compo but it might be faster for you to contact the issuer of the cheque and get it stopped and then ask them to re-send it as an electronic payment, you need to give them your IBAN and BIC for this.

sennypijama

p00hsticks wrote: »

Would you mind naming some ?

Sure. I have banked with Smile/Co-op since 1998 and the service is great.

First Direct seems to constantly be voted top for customer service.

I also bank with HSBC and their service is very poor, but the account suits my needs for other reasons.

Deru

p00hsticks wrote: »

Would you mind naming some ?

I second First Direct. Albeit they're a handle of HSBC, they offer 24 hr customer service over the phone. You use HSBC branches so branches are plentiful for branch transactions. Oh and Metrobank if there's a branch near you! Downside is the lack of branches but Sunday opening is great!

Natwest lost my cheque a few months back when their systems went kaput for a week. Was only for a £100 but I had to request a new cheque from the sender but in general, I've not had a problem with their service.

I also use Halifax for some of their 'features'. Although owned by the same bank as Lloyds, service seems okay to me but hit and miss for some. I'm sure they're better than Lloyds though as they were originally a separate bank. Just use the same computer systems now.