compensation offer - need clarification on something

col32

Hi guys,

I have an ongoing complaint with Abbey (it was 18th May when I first wrote to them). I've had the usual "looking into your complaint" bog standard fobbing off letters, and was in the process of putting everything together to refer it to the Financial Ombudsman.

This morning however, I've received a letter from Abbey, which is actually a proper response to my complaint. They acknowledge my problems, and admit responsibility. They are also arranging for £100 to be credited to the account, to "acknowledge our errors and the inconvenience you have experienced". They also refer to it as being "in full and final settlement of your complaint". Personally, I think £100 is a bit of a joke, and I'd like to continue on with referring it to the FO.

I'm just a bit worried about this £100 being credited to the account - does that mean I agree to their "full and final settlement"? Or is it just their tough luck if they give me £100 and I take it further anyway? There's nothing in the letter to state that I need to contact them to confirm it or let them know if I don't agree. I'd like to know where I stand, and appreciate any advice you can give me.

dunstonh

Financial services redress works on the basis of putting you back in the position you were before the error. There is no entitlement to compensation.

If they acknowledge your complaint and find you are not out of pocket but are offering £100 then you should take it. The amounts are more typically £25 or £50.

Full and final settlement is standard and is in place to stop you having a second go in the future.

If you do take it the FOS, Abbey can withdraw the £100 offer and let the FOS decide if they have been fair or not. The FOS will probably agree £100 was fair as its more than they normally offer. They may also say Abbey should offer £50 as a goodwill gesture or they could say £150. Plus, you will have to wait for around 6 months for the FOS to look into it. This will include you detailing your complaint all over again.

The FOS isnt really there to judge on the size of a goodwill gesture. It's time wasting complaints like that which slow the system down for the genuine deadlocked complaints.

MarcoM

chrysalis wrote: »

Hi guys,

I have an ongoing complaint with Abbey (it was 18th May when I first wrote to them). I've had the usual "looking into your complaint" bog standard fobbing off letters, and was in the process of putting everything together to refer it to the Financial Ombudsman.

This morning however, I've received a letter from Abbey, which is actually a proper response to my complaint. They acknowledge my problems, and admit responsibility. They are also arranging for £100 to be credited to the account, to "acknowledge our errors and the inconvenience you have experienced". They also refer to it as being "in full and final settlement of your complaint". Personally, I think £100 is a bit of a joke, and I'd like to continue on with referring it to the FO.

I'm just a bit worried about this £100 being credited to the account - does that mean I agree to their "full and final settlement"? Or is it just their tough luck if they give me £100 and I take it further anyway? There's nothing in the letter to state that I need to contact them to confirm it or let them know if I don't agree. I'd like to know where I stand, and appreciate any advice you can give me.

What was the nature of your complaint?

5 months to have a response is pathetic. This on its own deserves separate compensation.