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timescale of 8 weeks super fast vs super slow
sparklemoo29
Posts: 13 Forumite
please dont yell at the newbie, just wanted to know if anyone out there knows why some banks come back super fast i:e 1 week and others go the whole hog, im a patient person so ive just gone into the start of week 4 with bos with no other contact since acknowledgement no calls either , are they suppose to update you halfway through ? i read on there site there looking into ppi from the yr 2005 when mine was taken out so wondering if thats slowing it down or if there in a backlog any way looks like ill have to wait another 4 weeks
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Banks have eight weeks to consider complaints and generally take this long to make their decision. In some cases the Bank will just pay the redress without investigation, generally where the amount concerned is below their floor limit for investigation.
Where did you get your information that "some banks come back super fast i.e. one week"? I'm not aware of any such instances.0 -
Moneyineptitude wrote: »Banks have eight weeks to consider complaints and generally take this long to make their decision. In some cases the Bank will just pay the redress without investigation, generally where the amount concerned is below their floor limit for investigation.
Where did you get your information that "some banks come back super fast i.e. one week"? I'm not aware of any such instances.
thanks moneyineptitude for info, reason i asked is i submitted the barclays bank sent me a letter and cheque within 1 week of submitting my complaint online which is why i thought how come they were super fast and my bos one is in week 4, however adding to that the barclays was only a small loan of 1,000 wheres bos ones where over 5,000 , cheers for answering though
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1 week would suggest auto payout without investigation. The amount is in auto payout territory too.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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