amount of compensation

concernedfather

Very briefly, about 18 months ago my daughter went to her bank to increase her overdraft by £250. She was told that she could not do it by the adviser, who she thought was the manager, but he could set up a loan of £5K for her. She did this and after 6 months was contacted again by the same adviser offering her a consolidation loan as he knew both an 18th and 21st birthday were coming up. She was then mis-sold an upgraded account with fees and continued to be harassed with telephone calls from the adviser, up to 3 a day, offering her more loans. This has had a detrimental effect on her health. I became involved, spoke to the branch manager and he reported the situation. The bank agreed that the account had been mis-sold and that the adviser was spoken to for harassment. all fees were refunded and compensation of £150 paid to my daughter. We thought that this amount was insufficient and appealed, but no further offer was made. Is the amount paid to her reasonable, if not, where can she appeal to about it now?

tomtontom

How old is your daughter, is she vulnerable in some way that she needs someone else to deal with her affairs, and were the bank aware of this?

concernedfather

My daughter is 40, she is not vulnerable in any way, but was misled by the adviser.

tomtontom

concernedfather wrote: »

My daughter is 40, she is not vulnerable in any way, but was misled by the adviser.

In which case £150 plus fees is more than generous. What other loss has she incurred?

concernedfather

Mainly it was being constantly rang up by the adviser, as she works a lot of nights, which disrupted her sleep, and pestered to take out more loans which he obviously knew she could not afford. This was really very stressful for her.
In what capacity do you think that the amount is fair? Are you Qualified to assess this, or just offering your opinion?

dunstonh

£150 sounds reasonable. Its in the ballpark of what the FOS would offer.

Now, if you could get a GP to say that her health has deteriorated and is now suffering with whatever it is you say she has and its due to the occasional phone call, then you may get it upto £200-£250.

Aquamania

concernedfather wrote: »

...In what capacity do you think that the amount is fair? Are you Qualified to assess this, or just offering your opinion?

What qualifications do you expect people to possess who post here entirely out of their own goodwill to offer others help and advice?

I suggest if you want an authoritative response, you pay to seek independent legal advice.

dunstonh

For reference, I have no legal training. I do read the FOS publications and a selection of published complaint outcomes to get an understanding of the FOS thought processes (it helps me as an adviser to know what to avoid). Whilst the FOS can be inconsistent at times (different adjudicators and ombudsman may have different views) and sometimes gives some really strange decisions, you do get an idea of the ballpark range they look at things.

roonaldo

concernedfather wrote: »

In what capacity do you think that the amount is fair? Are you Qualified to assess this, or just offering your opinion?

this

http://www.financial-ombudsman.org.uk/publications/technical_notes/distress-and-inconvenience.htm

[Deleted User]

concernedfather wrote: »

Are you Qualified to assess this, or just offering your opinion?

Seems to me you want only "qualified" assistance, which is NOT the purpose of a discussion forum where anyone can post.
Seek paid-for legal advice if that is what you want.