When Banks don't Act on FOS Findings

JuicyJesus

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.

There seems to be no guarantee you'll be able to get your account back even if they don't compensate you.

They're taking the absolute p*ss. The idea that you can't speak to a firm's customer service staff because you have a complaint with FOS is, for a start, risible. That they are incapable of assisting you is ridiculous. That they are still being pernickety about compensation despite their myriad ongoing failures is pathetic.

Cotta

Well TSB called and we went through the diagnostics with the TSB technical specialist who is
now baffled. We went through quite a few trouble shooting techniques to no avail. I pleaded with TSB to delete my account and setup a new one mirroring the problem account but they advised this was against procedure. TSB will call me back on Monday once they've deliberated.

masonic

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.

What you need to do is be firm with the Adjudicator to require TSB to formally accept or reject the decision put to them. They are not at liberty to negotiate with you. If and when it goes to an Ombudsman, it is astonishingly unlikely they will side with TSB after everything that has happened.

A published decision from an Ombudsman, detailing where TSB has put up obstacles and generally got in the way of you getting fair treatment will be very valuable. The sort of thing that anyone could anonymously leak to a financial journalist without revealing whom it concerns. It would make a great story!

pmduk

eskbanker wrote: »

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

They've ignored most other instructions from the FOS with impunity so far

Cotta wrote: »

...they advised this was against procedure.

Blow their procedures, none of them have worked so far have they?

Cotta

As of this morning I have advised the adjudicator that we have exhausted the troubleshooting procedure. I have said that TSB should now do one of the following:

1. Delete my account and build a fresh account mirroring the original.
2. Delete my account and transfer the funds to a separate account.

HampshireH

Cotta,

I have just spent the last 45 minutes or so reading through all 10 pages.

What a horrific time. Not sure how the £500 compensation and any further compensation are related as the initial payment should have been paid upon resolution and to an account you can access it (as it stands it almost doesnt exist. It certainly hasnt aided paying any bills or whatever)

The new amount should be for any problems since that payment was made. Your time spent on the phone to the adjudicator and TSB (as per your bills) in itself must add up to hours since April.

The FOS distinguish between the two types of compensation themselves.

I wish you well and will continue reading with interest.

Cotta

A response from the adjudicator.


Dear Cotta,

Thank you for your update on the failed troubleshooting of yesterday evening, it is regrettable that your problems are on-going.

On the two suggestions you sent, could I politely remind you that it is not for you or indeed me to dictate to TSB as to what they should do, please show more patience.

On the issue of referring this to an Ombudsman, this will not help you situation at present as TSB will still have to release your funds which the Ombudsman cannot dictate.

Having spoken to TSB this morning they are reluctant to lose your custom as they have invested a lot of time into getting your issues fixed (The £500 was again raised) so they are not keen on the idea of deleting your account and transferring your funds to a separate bank. On the point of mirroring your account TSB have again stated that this is against their procedure.

TSB have again stated that they are not bound to pay additional compensation above the "grossly high" £500 they already have paid and they feel the time and effort spent trying to resolve this case is evidence that they have done all they can and more.

On your debit card and PIN number, as you have advised the second tranche has not arrived, TSB are adamant that they issued them so again we are at a stalemate here.

I will be consulting with my Manager again on your case as it is rather exceptional. I should note since August we have been in almost daily contact (TSB--Ombudsman Office-Complainant) this is frankly unsustainable, perhaps we should all be looking for a reasonable compromise at this point?

Kind Regards
FOS

eskbanker

I can't believe that she's asking you to "please show more patience"! Looking back to the start of this thread it's now three months since FOS instructed TSB to resolve the issues and presumably another four months before that that they started, so I think you've been exceptionally patient already - I'd be tempted to ask her how long she thinks you ought to be expected to wait to get access to your money again, beyond the seven months it's taken so far.

While she's arguably right that it's not up to either of you to suggest exactly how such access is reinstated, it hardly seems unreasonable to me that you show willingness to consider alternatives. However, if this isn't welcomed then perhaps it would be worth asking for a clear action plan with timescales for TSB to sort it out.

Her apparently sympathetic reference to "TSB have again stated that they are not bound to pay additional compensation above the "grossly high" £500 they already have paid and they feel the time and effort spent trying to resolve this case is evidence that they have done all they can and more" misses the point in at least two ways - the £500 covered the inconvenience and hassle up to a point in time (August?) but there's been plenty more since then. The only valid measure of their actions is their success rather than how much time and effort they've put it, so that doesn't cut it for me.

Her closing reference to compromise seems to confirm my suspicion that she's just desperately keen to get this off her desk! I'd be tempted to say that you agree that such regular contact is indeed unsustainable and that you will leave it in their hands with no contact, provided that you get a meaningful commitment from both FOS and TSB that it'll all be properly resolved by a specific date....

masonic

Cotta wrote: »

A response from the adjudicator.


Dear Cotta,

Thank you for your update on the failed troubleshooting of yesterday evening, it is regrettable that your problems are on-going.

On the two suggestions you sent, could I politely remind you that it is not for you or indeed me to dictate to TSB as to what they should do, please show more patience.

On the issue of referring this to an Ombudsman, this will not help you situation at present as TSB will still have to release your funds which the Ombudsman cannot dictate.

Why not? TSB are dictating to the Adjudicator what compensation can can can't be awarded. Essentially, the Adjudicator has told you to shut up and accept whatever TSB thinks is reasonable.

Let's assume it is true that an Ombudsman cannot dictate TSB releases your funds (this is not true, of course, because TSB has no valid reason to freeze the assets). They can award the current balance of the account as a legally binding compensation payment, which would allow you to abandon the account and let TSB do whatever they wish with it.

I think you need to insist this goes to an Ombudsman without further delay, citing lack of confidence in the ability of this Adjudicator to handle the complexities of this case. I'd be considering raising a formal complaint against this Adjudicator based on the latest response you have received.

Cotta

I feel completely defeated on this, I'm now prepared to just accept my account balance back which could be a struggle.

For the small level of compensation mentioned along with missed interest which TSB are going to fight releasing I see little point in this. I regret accepting the £500 now as it has infuriated TSB and I regret the vast amount of time since the decision in August that I've wasted trying to resolve these issues.