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MSE News: Martin Lewis hands MPs list of key questions TSB must answer

edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
37 replies 4.7K views
MSE_CallumMSE_Callum Forumite
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edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
MoneySavingExpert.com founder Martin Lewis has written to the chair of the Treasury Committee Nicky Morgan with a list of key facts we believe TSB should make public, ahead of the bank's appearance in front of the committee on Wednesday...
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'Martin Lewis hands MPs list of key questions TSB must answer'
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  • KTFKTF Forumite
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    I see 'compo' was diplomatically put as #4 rather than #1 but why the expectation that TSB should pay out to everyone?


    For example the DD for my TSB credit card was not taken. Without asking the interest was refunded and they sent me a letter explaining what had happened.


    Did I suffer loss (no), was I inconvenienced (no, although the culture would say yes) so why the demand for compensation?


    The people who have lost money to scammers only have themselves to blame but its always someone elses fault...
  • KTF wrote: »
    I see 'compo' was diplomatically put as #4 rather than #1 but why the expectation that TSB should pay out to everyone?


    For example the DD for my TSB credit card was not taken. Without asking the interest was refunded and they sent me a letter explaining what had happened.


    Did I suffer loss (no), was I inconvenienced (no, although the culture would say yes) so why the demand for compensation?


    The people who have lost money to scammers only have themselves to blame but its always someone elses fault...

    That's the way it goes these days. Mock outrage, hand-wringing and people always looking for a payout.

    Obviously people who have suffered losses and major inconvenience should be fairly compensated. But I'm in a similar position to you (my bills account is with TSB) and it didn't really affect me apart from having to make one telephone call when the site was down. No big deal, no payout needed or wanted.
  • eskbankereskbanker Forumite
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    Since the select committee managed to find 156 probing questions to ask at TSB's appearance before them last month (as per transcript here), which unsurprisingly are a superset of this short list of the bleedin' obvious, this simply smacks of being another "look at me" Martin Lewis publicity stunt....

    Did he really think that without his intervention they'd fail to ask when the problems will be fully fixed, and to push further if a date isn't forthcoming?
  • colstencolsten Forumite
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    KTF wrote: »
    I see 'compo' was diplomatically put as #4 rather than #1 but why the expectation that TSB should pay out to everyone?
    mchambers......
  • HerbalusHerbalus Forumite
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    There is not the remotest hope that these questions will be answered. Not even sure that these are in the public interest - what does the public gain by learning how many have switched away?

    And #4 is just daft. TSB will not advise minimum compensation because compensation depends entirely on the circumstance and amount of inconvenience caused, hence why it is a case-by-case basis.
  • where_are_wewhere_are_we Forumite
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    Thanks "KTF" - "The people who have lost money to scammers only have themselves to blame but its always someone elses fault...". So you can catagorically say that ALL people who have lost money to scammers only have themselves to blame. Recently I have been the victim of Sim-Swap and subsequent emptying of my TSB accounts. I do not click on emails, give information to callers, reply to texts and I shred my mail, have strong different passwords, use text alerts, use antivirus software etc but this did not prevent me being scammed. Some Mobile phone companies and some banks have inadequate security systems in place. I hope it never happens to you.
  • badmemorybadmemory Forumite
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    Whilst I am sure many enjoy blaming the victims - how many of them would have been victims without the disaster caused by this spanish bank?
  • agrinnallagrinnall PPR
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    I wasn't inconvenienced at all by TSB's problems but I'm already being compensated by receiving extra interest on my Classic Plus account every month. there was no need for them to pay that, and I wouldn't expect to get anything else.
  • AshenAshen Forumite
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    Herbalus wrote: »
    There is not the remotest hope that these questions will be answered. Not even sure that these are in the public interest - what does the public gain by learning how many have switched away?

    And #4 is just daft. TSB will not advise minimum compensation because compensation depends entirely on the circumstance and amount of inconvenience caused, hence why it is a case-by-case basis.
    Agreed. I'd say that several of them are daft. The first question - asking how many people were affected, and how many still have problems is absolutely meaningless as a figure without context of how serious, or if it actually has had an impact on the customer.

    MSE describing those questions as "essential information" is just self-indulgent nonsense.
  • poppy10_2poppy10_2 Forumite
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    KTF wrote: »
    For example the DD for my TSB credit card was not taken. Without asking the interest was refunded and they sent me a letter explaining what had happened.
    Has this been marked as a missed payment on your credit reports?
    poppy10
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