Business bank account overdraft guarantees?

addedvaluebob

It may not have been your pot but moneyineptitude clearly says 'its not PPI', magpiecottage says 'information is unlikely to exist' your previous post says 'This does sound more like life assurance than PPI. And banks very frequently made life assurance a condition of borrowing and they are allowed to do so' give the impression it was an okay sale'

The overall impression is that the OP should give up when based on the OP words we have no real idea what the policy is.

dunstonh

The overall impression is that the OP should give up when based on the OP words we have no real idea what the policy is.

i dont get that interpretation from the posts. The thing I would take is that it needs to be found out.

[Deleted User]

addedvaluebob wrote: »

A SAR is much more likely to turn up information than asking a call centre.

From 1985 (29 years ago) ??

Asking the Bank what the insurance actually was, on the other hand, would quickly establish exactly what kind of insurance it was without wasting £10 (or 40 days).


Regardless of what kind of insurance it was, the OP would still have to identify in what way (if any) the insurance was mis-sold and a SAR is not likely to provide any such reasons-especially three decades on.

addedvaluebob

Yes, from 29 years ago. How on earth do you think a quick call to a call centre would establish 'exactly what kind of insurance it was' when most of the current call centre staff have little or no product knowledge or understanding.

Without the information the OP cannot go forward.

[Deleted User]

addedvaluebob wrote: »

Without the information the OP cannot go forward.

He'll be very unlikely to get it from a SAR letter, as the finance was thirty years ago. Unless his father has remained a customer of that bank for all these years, the Bank will have long since deleted such old records.

Asking the Bank about the nature of the insurance should not be too difficult for them to answer. Who said anything about telephoning a call centre?

CKhalvashi

Moneyineptitude wrote: »

He'll be very unlikely to get it from a SAR letter, as the finance was thirty years ago. Unless his father has remained a customer of that bank for all these years, the Bank will have long since deleted such old records.

My parents asked for a copy of something from 1992 (for a company incorporated in 1991 and is still active) and were given a copy.

This was from HSBC (then Midland), so there is hope if he's remained a customer.

[Deleted User]

CKhalvashi wrote: »

so there is hope if he's remained a customer.

I did use the proviso that records are more likely to be available if the OP's father is still a customer of the particular Bank mentioned in the original post.

dunstonh

My parents asked for a copy of something from 1992 (for a company incorporated in 1991 and is still active) and were given a copy.

The key there is that they are still active. This is a closed company.

addedvaluebob

We don't know it is a closed company, we only know that father retired. Round here the farmer families regularly pass through the generations so although dad may have retired the company may still exist.

As for the question of asking the bank, the OP needs the paperwork if available to review and find out what his father was paying for

magpiecottage

addedvaluebob wrote: »

it has been decided it is not PPI

addedvaluebob wrote: »

magpiecottage says 'information is unlikely to exist'

OED definition of unlikely "Not likely to be true or correct; improbable in respect of fact."

reducedvalue200bob wrote: »

Greyknight put in the SAR and at least you will have some information to work with rather than having people tell you have no case based on pure supposition

A DSAR will cost £10 (200 times 5 pence - a "bob" in old money).

It is unlikely to turn up any information after all this time.

In any case, FOS only has jurisdiction over a firm if, at the time of the events being complained of, it subscribed to a relevant predecessor scheme.

NatWest was a member of the old Banking Ombudsman - but it only started in 1986.

So it is unlikely that £10 would turn up anything at all and, even if it did, the bank would seem able to show that FOS has no jurisdiction.

It is up to the OP if they want to spend £10 on it but the odds of it producing any return seem extremely unfavourable.