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What value can be put on the bank wasting my time and general bank incompetence?
DD123
Posts: 10 Forumite
Forgive me if this is the wrong forum page, but it seems the most appropriate.
3 months ago I noticed I was missing a credit (£350) that should have been paid into my bank account from an online company. To cut a very long story short, I chased up the bank and was told they could see my problem and that it would be credited to me within 48 hours. They said that to me on 3 separate occasions and it was never resolved. After going through the complaints department I was told it would be credited to me within the week and that I would receive a call to confirm this. I did receive the call but when I checked my account they had debited the money rather than credited it. Thus I was out of pocket by £700, and because they had taken extra money from me I had to move money from my ISA savings account to stop myself from going overdrawn (I forgot to tell the complaints dept. about this), and I cannot put any more money in my ISA this year.
Anyway, it looks like it will all be resolved by the end of this week and all the money I'm owed from the original mistake will be in my account, and they said they would pay me back for the cost of all the telephone calls. Then finally they said they would give me some compensation for all of the hassle as they acknowledged they were to blame for the majority of the mistakes, however I found the compensation amount to be slightly insulting. I don't want or expect a large amount of compensation, and I wouldn't have thought about it at all if it wasn't mentioned, but I found the number he said so small and strange I wasn't sure why it was even offered.
TL;DR
The bank made an error costing me some money, time and a lot of hassle over the holiday period. Am I wrong to expect compensation, and how much would you expect to receive?
Many thanks.
3 months ago I noticed I was missing a credit (£350) that should have been paid into my bank account from an online company. To cut a very long story short, I chased up the bank and was told they could see my problem and that it would be credited to me within 48 hours. They said that to me on 3 separate occasions and it was never resolved. After going through the complaints department I was told it would be credited to me within the week and that I would receive a call to confirm this. I did receive the call but when I checked my account they had debited the money rather than credited it. Thus I was out of pocket by £700, and because they had taken extra money from me I had to move money from my ISA savings account to stop myself from going overdrawn (I forgot to tell the complaints dept. about this), and I cannot put any more money in my ISA this year.
Anyway, it looks like it will all be resolved by the end of this week and all the money I'm owed from the original mistake will be in my account, and they said they would pay me back for the cost of all the telephone calls. Then finally they said they would give me some compensation for all of the hassle as they acknowledged they were to blame for the majority of the mistakes, however I found the compensation amount to be slightly insulting. I don't want or expect a large amount of compensation, and I wouldn't have thought about it at all if it wasn't mentioned, but I found the number he said so small and strange I wasn't sure why it was even offered.
TL;DR
The bank made an error costing me some money, time and a lot of hassle over the holiday period. Am I wrong to expect compensation, and how much would you expect to receive?
Many thanks.
0
Comments
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I think you need to tell the bank of the loss to your ISA account as a result of its error and ask it to credit that account accordingly so that you are back in the same position youu would have been but for its error.
Apart from that, redress for distress and inconvenience is generally quite modest.0
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