Bank Not Responding AT ALL

southerndave

I have a loan with the Co-Op. I want to pay it off which I am allowed to do. I called them a month ago but they refused to speak to me beacuse I did not have a 'password'. I applied for this loan over the phone some years back, and extended it two years ago. I do not ever recall setting up internet style security or ever being asked for this before. All the advisors I have spoken to just keep repeating the 'computer says no' and refuse to answer anything about my account without this password.

Having given up on that route, I wrote to them requesting a settlement figure. I had no reply. I wrote again and this time gave them seven days to respond and sent it recorded delivery. The seven days are up and I still have not had a reply.

If I cannot call and they won't respond to letters, what on earth should I do next? My gut feeling is to just stop paying and see how fast they contact me then, but I know this maybe considered a default, so am reluctant to. But on the other hand I don't want to keep making monthly payments with interest on a loan I am in a position to pay off and in my rights to do so.

Any advice appreciated.

DCFC79

Have you asked how to set up a password or to get the password reset.

southerndave

All they could tell me is there is one on the account, how I don't know. Other than that, I have to go into a local branch with three forms of ID. This is to PAY a loan off! There is more security than there was when I took the money out! Anyway, I don't have a local branch the nearest one is about 15 miles away. I think this is unreasonable.

Aside from that, the request for a settlement figure HAS to be in writing, but they simply won't reply.

gb12345

southerndave wrote: »

All they could tell me is there is one on the account, how I don't know. Other than that, I have to go into a local branch with three forms of ID. This is to PAY a loan off! There is more security than there was when I took the money out! Anyway, I don't have a local branch the nearest one is about 15 miles away. I think this is unreasonable.

Aside from that, the request for a settlement figure HAS to be in writing, but they simply won't reply.

Write them a letter - entitle it "COMPLAINT" and send that to them stating that you have requested a settlement figure on X date and never received a reply.

If that doesn't get their attention then unforunately you will have to wait 8 weeks before you can contact the FOS and complain about their lack of action.

tonkinator

Can you not go into a branch with ID, like they requested?

southerndave

tonkinator wrote: »

Can you not go into a branch with ID, like they requested?

As I said earlier, its 15 miles away. And really I don't see why I should have to. No ID was requested when taking out the loan, I am not asking for money so cannot possibly be commiting any kind of fraud or laundering, etc. I don't see why 'security' is suddenly an issue for them. All of this however is beside the point, and that is that I have written to them twice already and I know for sure one of these was received as it was signed for.

What I cannot fathom is why a bank would want to just ignore someone trying to pay them money?! Normally it is the other way round with customers ignoring their demands for payment. No wonder this industry is in such a mess. And do you think I am more or less likey to use the Co-Op in the future based on this performance?

Guess I will have to wait and then complain again. Still tempted to stop the payments though.....

Gordon_Hose

Didn't you ask what they do if a customer forgets their password?

southerndave

Yes I did. See answer above, you have to go to the local branch and prove who you are.

dalesrider

southerndave wrote: »

As I said earlier, its 15 miles away. And really I don't see why I should have to. No ID was requested when taking out the loan, I am not asking for money so cannot possibly be commiting any kind of fraud or laundering, etc. I don't see why 'security' is suddenly an issue for them. ....

Because its the banks procedure.
ID will have been obtained via the CRA ond electrol roll for the loan.

You would be suprised at what some fraudsters will do to gain bank security details.

Security has become a lot tighter over hte last few years. Due to high fraud attempts of people gaining other peoples account details.

Can you not have a guess at what the security might have been?
Although I guess now they will have locked the Acc down untill its cleard via ID.

Even a complaint will still see you having to provide details. FOS would have a field day if ALL and sundry could access any account.

southerndave

I understand what you're saying but this is an aside from my main point which is: how on earth can I communicate with a bank that refuses to talk back?

If I was a fraudster, then there is absolutely nothing stopping me taking fake ID into any local branch. Its a fallacy that 'an electric bill' for example is proof of address - the electric company never ID'd me, so how do they know who I am? And if someone wants control of my debt, they can have it!!! ;-)

patanne

Depending on your terms and conditions, is it possible that if you overpay this month they will write to you and say that this reduces your balance by whatever, to whatever? Do they think that you are asking for a final settlement as in - you can't pay, what will they accept? It may be down to the wording of your letter and a slightly different turn of phrase may sort out the problem.