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Not Bank But Car Insurance Charges
Comments
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I wouldn't just drop it personally, at least until you have checked your credit files, you don't want a late payment black mark on there which will be stuck for 6 years.
Complain to the bank about the payment freeze if they have confirmed that was why the DD bounced. Do it in WRITING - good old fashioned letter job, send it marked as a complaint with free proof of posting from the PO. That way you will have a paper trail to take to the insurer. Ask for a refund of the cost you have incurred as a result of their mistake (£25 is in the region of their "pay annoying customer to go away" type compensation so can't see why a legitimate complaint wouldn't get it).
Go back to the insurer and check they haven't put a late payment flag on your record. Check Noddle (for free) and Experian / Equifax (free trial or £2 report) and make sure there is nothing negative on there. If there is, complain (again in paper format) to the insurer that it is unfair to harm your credit record for 6 years because of something that was not your fault.Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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If the bank is at fault, then go after the bank for the money. Some insurers will waive or reduce the fee if you contact them about it and say you are not happy and you havent had an issue previously. It would be a goodwill gesture on their part though. So, you want to do it in a style that keeps the person on the phone on your side.
The FOS publications have shown that they have accepted admin fees up to £50 as being fair.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 -
It's quite pertinent to your original post, really.stevomufc1 wrote: »None of the above - there was an "unusual transaction" on my account so the bank's fraud team froze my account as a precaution. Is there a reason you had to know this?0 -
I happened to come across this complaint outcome from the FOS in respect of justification of fees. Thought it would be handy for you to read on the point about justification.
http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=97284I 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 -
stevomufc1 wrote: »None of the above - there was an "unusual transaction" on my account so the bank's fraud team froze my account as a precaution. Is there a reason you had to know this?
Yes. It establishes that the failed DD was not the result of any errot by the originator.societys_child wrote: »It's quite pertinent to your original post, really.
Indeed. Now we know that the insurance company is not at fault.0
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