When Banks don't Act on FOS Findings

masonic

...so if you stick with this Adjudicator your funds won't be returned until January at the earliest. Whereas, referring to an Ombudsman will introduce a 6 week delay, taking you to... early January.

The Adjudicator's manager has stated that the compensation offered was “quite low”. That's reason enough to want an Ombudsman to review the case, as is your legal right.

This Adjudicator seems inexperienced and ineffectual, not to mention unprofessional.

Cotta

I think it's reasonable to assume that I'm not going to have access to my money until January. What I am thinking of sending off is that I want the issue of access to my funds fully resolved by Friday January 11th, whether that be by deleting my account and manually transferring my funds to a different account or via TSB actually fixing the problem.

That then leads on to what I should be asking for in compensation. I take on-board TSB's point that my balance is low, however what should I be asking for?

masonic

Cotta wrote: »

That then leads on to what I should be asking for in compensation. I take on-board TSB's point that my balance is low, however what should I be asking for?

I cannot understand TSB's point. They pay interest on balances up to £1,500. If your balance is in the "bottom quartile" then the majority of TSB account holders are missing the opportunity to earn interest on a significant amount of cash.

The issue is the lack of a working debit card and inability to transfer funds.

Have you suggested that you are willing to use the Current Account Switching Service to regain access to your money at another bank, in the process closing the defective account, and then apply for a new TSB Plus account? This could fix your problem before the end of this month.

Cotta

masonic wrote: »

Have you suggested that you are willing to use the Current Account Switching Service to regain access to your money at another bank, in the process closing the defective account, and then apply for a new TSB Plus account? This could fix your problem before the end of this month.

My account has been locked down and is not eligible for the switch due to it being "FOS sensitive".

masonic

Cotta wrote: »

My account has been locked down and is not eligible for the switch due to it being "FOS sensitive".

Frankly that's ridiculous and should be added to your complaint, filed under unfair discrimination. You have just as much right to switch your current account as anyone else and TSB blocking you from doing so because you are engaged in a complaint about their service is wrong on so many levels.

The Adjudicator should have had none of this. Yet another reason why this needs to be escalated to an Ombudsman.

Cotta

Outside of forcing the Ombudsman issue have I any other options?

masonic

Cotta wrote: »

Outside of forcing the Ombudsman issue have I any other options?

I don't really see any. The Adjudicator's manager has suggested that the £500 compensation offered is "quite low", so you could name a figure that covers the full balance in the frozen account and then you can close off the complaint and take the risk you never regain access to the funds in the account. However, this will just lead to the same end result as TSB would no doubt refuse to pay out anything close to this in compensation.

Whatever happens, I don't see the matter being resolved at this level, in January or perhaps ever. It will take someone at the FOS who isn't a pushover.

Cotta

masonic wrote: »

I don't really see any. The Adjudicator's manager has suggested that the £500 compensation offered is "quite low", so you could name a figure that covers the full balance in the frozen account and then you can close off the complaint and take the risk you never regain access to the funds in the account. However, this will just lead to the same end result as TSB would no doubt refuse to pay out anything close to this in compensation.

Whatever happens, I don't see the matter being resolved at this level, in January or perhaps ever. It will take someone at the FOS who isn't a pushover.

I'm going to request it again tomorrow, what can I realistically expect as an Ombudsman's outcome.

masonic

Cotta wrote: »

I'm going to request it again tomorrow, what can I realistically expect as an Ombudsman's outcome.

For one thing, the return of your money, for another an amount of compensation that isn't "quite low". Perhaps also someone who believes you when you point out lies TSB has told about their dealings with you.

Cotta

I've again requested that this go to an Ombudsman.