Llyods Bank Charges reclaim on Premier/Gold account since 2004!

vedb

Hi Moneysavers,

Here is a brief breakdown of the story:

1999 - opened fee free account with lloyds
Mid 2004 - opted for the gold account £10/month (allegedly)
Mid 2006 - started paying the gold account fees as it was fee free until then.
2007 - upgraded to platinum (from gold) for a few months on promotional £10/month and then eventually to £25/month premier (allegedly agreeing to it)
2012 - closed the fee account for a classic fee free one after being told I was paying for nothing as I don't use the benefits.
Sept 2013 - lodged complaint with lloyds and was offered difference in the gold and premier account fees back (due to identical benefits so mis-sold) a total of £975.

The situation:

The total I had been paying for this account adds up to circa £1550. They have offered £950 difference + 25 inconvenience bribe.
I want to know, if possible, if I took this to the ombudsman, is it possible to claim the full £1550 based on my belief that the account was mis-sold to me at the time of inception (2004)? They state that due to primitive recording systems, they do not have details of how or what was said at the meeting in 2004.
It is my word against theirs on this and I feel that I was not told the extent of what I was getting and didn't understand the product.

As they have admitted to fault thus far, is it likely the ombudsman will push them that extra bit to reach a full settlement?

Thanks for looking!

Kind regards,

Vedran

vedb

Furthermore, if I complain to the ombudsman, if they reject my case, do I still get the original offer from the bank? Seems obvious to me that it is the case but want to check. Thanks alot!

CheekyMonkey

Im amazed you got anywhere with Lloyds so well done. My advice though, take the money and dont look back.

How you got them to agree that the 'premium' account was missold I have no idea. Surely after 6 years you realised that the additional benefits (AA Home Cover, Phone insurance and better rates incl. overdraft etc...) were of no use to you?

As I said.....well done, take the money and move on.

vedb

Thanks for the advice. I would like to know though if I have nothing to loose, should I take it to the ombudsman anyway? As if they reject my case, I can still get the original offer?

noh

If the FOS rejects your case I think it unlikely that the original offer will still stand.
It may take 12 months for the FOS to give their decision.
What's better the certainty of £975 now or the possibility of £1550 or perhaps nothing in 12 months time?

dunstonh

If the complaint was upheld then the bank would not recall the it if you go to the FOS. However, if the complaint outcome is a goodwill offer, then the bank can recall the offer if you go to the FOS. Especially if the offer is that level to try and avoid the FOS fees. If the FOS fees end up being incurred, there is no reason for them to keep the offer open.

They state that due to primitive recording systems, they do not have details of how or what was said at the meeting in 2004.

I doubt they say that. I would expect them to say something that indicates that a 2004 sale of a unregulated product class would need little information held on file and as such they have little or nothing. The onus is on you to prove wrongdoing unless their own files show a wrongdoing. Its likely there is very little of anything on file. So, in that respect, you have a good result.

If the offer says goodwill and without liability (or words similar) then you need to decide if you are willing to gamble £975 to possibly get £1550 or zero.

vedb

I appreciate the responses. They had admitted to the fault which brought me to the £975 settlement as they said I was paying more for essentially the same service. However, I am aware now that it could take some time to settle this with the FOS so will make a decision tomorrow and call them to let them know.

Thanks all who contributed.

Apple_core

urgently need some info on (Emcas PPI) had a phone call that seems genuine for helping to seek and claim any monies due to the PPI scandal,but I am concerned as to the 30% fee if sucessful,is there someone with some experience with this company.

[Deleted User]

They want your money for writing a letter on your behalf. This will involve them having to pay for a stamp, an envelope and a sheet of A4, so will understandably be hoping for a few hundred quid or more to cover this significant outlay.

It's up to you if you feel it represents good value for money.

jessie2

Hi, just joined the fourm, have had a Lloyds tsb account since 1997 got upgraded to gold account in march 2006 downgraded in November 2006. I sent a letter saying I was missold these accounts to get loans at the time but they sent a letter saying its falls outside the statutory time limit of 6 years since the accounts was opened. they say it is reasonable to expect that you could have been aware of the circumstance surrounding your complaint more then 3 years ago
but I never new this account was missold to me till I heard it on the tv etc. help if anyone no if I have a chance or what to do next.
thanks