Royal Bank Time Barring, is this allowed?

Gerard123

Just wondered if anyone had similar experience to me. Like many I was called into an advisers office and 'encouraged' to open a packaged bank account.
Now realising I already had many of the benefits they were adding, and some I didn't need, and reading about problems with these accounts here and elsewhere, I complained to bank and to ombudsman after bank declined.
Ombudsman is now saying I am 'time barred' as they sent me a letter in 2009. Can this be right? I am not sure I received the letter they claim they sent and I definitely didn't receive any warning letter?
Anyone help??

dunstonh

Can this be right?

Yes.

The regulator allows two timebars in relation to complaints. A 3 year and a 6 year rule. They work together. You have 6 years from the sale of the product or 3 years from being reasonably aware of an issue to make a complaint (whichever timescale is the longer).

If you only fail one timebar and not the other then they have to consider the complaint. If you fail both timebars then they can reject the complaint and the FOS have verified that you are timebarred.

I am not sure I received the letter they claim they sent and I definitely didn't receive any warning letter?

Would you recall an envelope from the bank 6 years ago containing material that you probably thought was marketing? Probably not. However, the banks have been following up on these by issuing annual statements of benefits and these too can trigger the timebar clock.

Anyone help??

Its game over for you.