Amazing Success Story - Claiming Back Account Fees

TheSilverStag918

So here it goes how amazing is this:
My mother heard a Martin Lewis interview where he stated that many paid for bank accounts were mis-sold. Like with all brilliant advice from my mother, I completely ignored it - that is until I really needed something to help me procrastinate from doing work.

On Tuesday I read his blog about it, clicked on the link to complaints.resolver.co.uk, filled in the information.
The reason I provided (which is completely true by the way):

When I opened my account with a certain equestrian identitied bank in 2009, I had a far shoddier credit file then the shoddy one I hold now. I explained this to the representative/manager and they told me that I would be far better getting a paid for account as I would be more likely approved. Back then I cared more about the embarrassment of being refused face to face then anything else so went with the paid for account.

The benefits of the account were phone insurance, AA and travel insurance. Although I had phoned up to inquire I had never used any bar AA twice.

So this app online auto submitted a complaint to the horsey identitied bank on Tuesday, I received a phone call yesterday, I ignored it thinking it was a PPI scammer, phoned again this morning. Picked up and had a 20 minute call asking me questions about my complaint, all was fine, he listened, typed away, spent the day investigating.

He just phoned me up to say he agrees, it was mis-sold to me. based on my circumstances at the time etc there was no need for me to hold the paid for account and drum roll... all payments were being refunded plus interest.

That is a grand total of £1043.00 in my account within an hour of him hanging up the phone.

Anyone with hesitation - it took me collectively 35 minutes of my time and has just given me £1043.00 to go towards my first child's expenses (wife is 38 weeks pregnant eeeeeeeek).


Good luck all and thank you so much MSE

jonesMUFCforever

Hmmn You used the AA twice but claimed the account was missold to you??

JuicyJesus

jonesMUFCforever wrote: »

Hmmn You used the AA twice but claimed the account was missold to you??

To be entirely fair, the OP has been refunded in full for what seems like a substantial amount of money. There's probably other things factoring into that decision.

bigadaj

JuicyJesus wrote: »

To be entirely fair, the OP has been refunded in full for what seems like a substantial amount of money. There's probably other things factoring into that decision.

Like a lack of personal responsibility?

JuicyJesus

bigadaj wrote: »

Like a lack of personal responsibility?

Possibly. But it's still irrelevant because Lloyds have refunded in full, basically immediately.

Banks don't tend to do that without a good reason.

Shakin_Steve

The way some people on here treat others when they get a result.....it can only be jealousy. Why else would they chide someone for following advice given on this forum?
Or maybe they hold shares in the banks?
I’m happy for you, Phil, good luck to you.

bigadaj

JuicyJesus wrote: »

Possibly. But it's still irrelevant because Lloyds have refunded in full, basically immediately.

Banks don't tend to do that without a good reason.

Not really, the burden in proof has now shifted from the customer having to show they were Mis sold to the bank showing they weren't, often their records simply aren't good enough.

Let's not forget in this crazy post gfc world it's mainly taxpayers money being thrown around by the banks in any case.

On the bright side the pba and PPi windfalls have probably been far more effective in reviving the economy than the formal boe quantitative easing alternative.

dunstonh

JuicyJesus wrote: »

Possibly. But it's still irrelevant because Lloyds have refunded in full, basically immediately.

Banks don't tend to do that without a good reason.

The banks operate a floor limit style approach of widespread complaints. The limit gets adjusted based on workload. One bank was auto-paying out on cases upto £3000 for a period. So, this one could just be an auto payout.

PeacefulWaters

The word LLOYDS is allowed to be used in posts.

colsten

phil5529 wrote: »

The reason I provided (which is completely true by the way):

Why would you use anything other than the truth when you talk to a bank?

TheSilverStag918

colsten wrote: »

Why would you use anything other than the truth when you talk to a bank?

I felt that saying "the reason I provided" sounded slightly ominous so was just clarifying.

As for the other comments - I was completely transparent on the call. I explained that the AA was useful, I had used it. Other benefits not so much. The complaints handler said he saw no reason for me to have been sold this account considering my circumstances at the time (no job, no car, no chance of using the phone or travel insurance blah blah).