Barclaycard PPI - Ombudsman Response

Alpine_Star

Moneyineptitude wrote: »

It's not even likely that the staff member ever received an individual commission payment for "mis-selling" you PPI.

Who said anything about ''individual'' commission payments?

It is very likely the member of staff was, in some way, financially incentivised to flog PPI.

Otherwise Barclays wouldn't have recently announced that they would be scrapping branch sales based incentives on financial products due to pressure from the FSA.

http://www.independent.co.uk/news/business/news/barclays-scraps-salesbased-bonuses-for-staff-8207117.html

If the OP believes he was mis-sold he should absolutely fight his corner and repond to the FOS

roonaldo

Rafter wrote: »

Regardless of training, if the staff at the time stood to gain financially from selling cards with insurance ahead of those without, I think the bank have a particularly week case and that you are entitled to a refund if you were misled.

So what if they did, so what if they didnt. The bank staff dont have to disclose their pay/bonus structure to customers, its also none of their business. It's an irelevant comment.

[Deleted User]

Alpine_Star wrote: »

Who said anything about ''individual'' commission payments?

Well the OP surely wasn't referring to the monthly salary paid to the member of bank staff?
Even so, what complaint can the Op have about the pay received?

Alpine_Star wrote: »

If the OP believes he was mis-sold he should absolutely fight his corner and repond to the FOS

Absolutely, unfortunately I fail to see how the OP can offer extra evidence on a "hearsay" complaint of this nature.

[Deleted User]

roonaldo wrote: »

So what if they did, so what if they didnt. The bank staff dont have to disclose their pay/bonus structure to customers, its also none of their business. It's an irelevant comment.

I agree. The Banks did indeed incentivise staff into encouraging customers to sign up to PPI. But customers cannot then complain about such payments!

magpiecottage

McDaddy17 wrote: »

What can I do about complaining about the financial gain for the staff member for selling insurance with the card? Write to Barclays? Or FOS?

Presumably you, too, gain financially from your work. I know I do from mine and, presumably, so do the staff at FOS so neither they nor I could, with any credibility, uphold a complaint on those grounds.

McDaddy17 wrote: »

But can Barclaycard provide evidence to say I wasn't pressured?

If you want to follow that argument, you cannot prove that you didn't insist on taking the cover despite their protestations that it was unsuitable. "He who asserts must prove". You are the one making the assertion so the evidence must support your version of events.

Alpine_Star

Moneyineptitude wrote: »

Even so, what complaint can the Op have about the pay received?

I agree. It would be difficult to formulate a complaint on that basis but it isn't a abstract concept. The fact is that the root cause of all mis-selling in financial products (not just PPI) is the financial incentives to do so.

[Deleted User]

Alpine_Star wrote: »

The fact is that the root cause of all mis-selling in financial products (not just PPI) is the financial incentives to do so.

I think it's one cause, the Bankers responsible for introducing the poor quality product that PPI generally is/was bear a lot of the blame too

dunstonh

I agree. It would be difficult to formulate a complaint on that basis but it isn't a abstract concept. The fact is that the root cause of all mis-selling in financial products (not just PPI) is the financial incentives to do so.

It is not the root cause. Poor training, inexperience and simple errors are other reasons. For banks, the major reason was not staff pay. It was management pressure. Very few staff got paid commission or bonuses linked directly to the sale of credit card PPI.

Alpine_Star

''This bonus-based approach has played a role in many scandals we have seen over the years. Incentive schemes on PPI were rotten to the core and made a bad problem worse.''

http://www.fsa.gov.uk/library/communication/speeches/2012/0905-mw.shtml

dunstonh

Alpine_Star wrote: »

''This bonus-based approach has played a role in many scandals we have seen over the years. Incentive schemes on PPI were rotten to the core and made a bad problem worse.''

http://www.fsa.gov.uk/library/communication/speeches/2012/0905-mw.shtml

Dont mix up commission with incentive based schemes. The manager paid bonuses for his staff getting sales targets putting pressure on those staff who did not get paid commissions falls under incentive based schemes.

You ask any bank staff member and they will tell you that the worst thing is the targets and sales pressure. They are not doing it to line their own pocket. They are doing it to stay in a job and avoid the sales manager/bank manager picking on them.