When Banks don't Act on FOS Findings

xylophone

as it's when I am at work

Take the morning/afternoon off and charge TSB your hourly rate?

Cotta

xylophone wrote: »

Take the morning/afternoon off and charge TSB your hourly rate?

That would never be agreed upon. They're talking about a call after 5pm which might work, I could just leave work an hour early but I don't think that I could ever charge for that. The adjudicator has also been adamant that £75 will be my threshold for compensation.

Cotta

Formal response from Adjudicator as follows, I'm definitely underwhelmed, should I settle?

Dear Cotta,

You've agreed to leave work early tomorrow to accept a 17:30 phone call from TSB and I have now been given assurances from TSB that the technical issues will be resolved by Monday either via fixing the issues or deleting your account and setting up a new one. On this basis I am making the following recommendations:

1. Interest of £37.50 to be paid. Albeit whilst you have £2157. 28 at present which has been depreciating over time with the only deposit made being the £500 compensation, therefore using £1500 as the amount, 5% of this is £75 and with your account being down eight months we have essentially halved this amount to come to £37.50.

2. I have noted that you have put a lot of work into resolving these outstanding issues with innumerable calls and troubleshooting attempts, therefore I will be instructing TSB to pay you £100.

Overall I feel this a fair settlement, subject to the issues being resolved by the timescale outlined above, are you happy to close off the complaint? Please respond by Thursday.

masonic

TBH, while I think the compensation is lower than seems fair, the initial compensation of £500 is more than I'd expected, so perhaps it does balance out.

The only reason to reject is if you want a published record of the complaint and final decision from an Ombudsman, but I doubt the amount of compensation will be increased. It would certainly make interesting reading, but would drag the matter on for several more weeks if not months.

Cotta

masonic wrote: »

TBH, while I think the compensation is lower than seems fair, the initial compensation of £500 is more than I'd expected, so perhaps it does balance out.

The only reason to reject is if you want a published record of the complaint and final decision from an Ombudsman, but I doubt the amount of compensation will be increased. It would certainly make interesting reading, but would drag the matter on for several more weeks if not months.

I know, to be honest I'm exhausted with the process.

eskbanker

Cotta wrote: »

Overall I feel this a fair settlement, subject to the issues being resolved by the timescale outlined above, are you happy to close off the complaint? Please respond by Thursday.

You're obviously at liberty to keep pushing for more but, especially in the context of the attritional saga thus far, I agree with masonic that it's probably worth accepting and drawing a line under the whole thing and moving on, and it sounds like you're on the same page with your latest update.

However, if you do accept this offer, I'd make it clear that you're only prepared to close the complaint after the resolution of all outstanding issues - I could be wrong but the adjudicator's email could be read as proposing that you close it off now (to get it off her desk), on the assumption that everything will be sorted next week, and I imagine you'll be sceptical about whether this will actually happen after so many broken promises. So, best ensure that any acceptance is only provisional....

Cotta

I accepted the terms provisionally last night with the adjudicator, however this morning I've been advised that TSB have rejected them citing £25 as where they want to be all in with both missing interest and compensation. The adjudicator is referring this on to her Manager to find out what the best course of action is?

JuicyJesus

Cotta wrote: »

I accepted the terms provisionally last night with the adjudicator, however this morning I've been advised that TSB have rejected them citing £25 as where they want to be all in with both missing interest and compensation. The adjudicator is referring this on to her Manager to find out what the best course of action is?

The Ombudsman. This is taking the p*ss.

Cotta

JuicyJesus wrote: »

The Ombudsman. This is taking the p*ss.

I think I am going to forgo all compensation so that I can at least get my account back. The £500 certainly hurt them and they are not going to be spending anymore on me whom they would deem as an unprofitable individual.

eskbanker

Cotta wrote: »

I think I am going to forgo all compensation so that I can at least get my account back. The £500 certainly hurt them and they are not going to be spending anymore on me whom they would deem as an unprofitable individual.

They are if they're instructed to do so by the ombudsman!