When Banks don't Act on FOS Findings

YorkshireBoy

Cotta wrote: »

Ask for another £500?

So the D&I incurred over the last 4 months has been EXACTLY twice what it was the first 4 months?...or have you just plucked the figure out of thin air? Remember, she's asking you to justify, and evidence, the figure you provide. You can do that can't you? Hopefully you can, because no-one here will be able to do it for you.

YorkshireBoy

masonic wrote: »

Every indication is this Adjudicator is very inexperienced. Possibly drafted in to deal specifically with the TSB workload.

Agreed, but we're not talking specialisms here (on this specific point)...we're talking about writing a good, accurate, document, and proof-reading it before sending it.

masonic

YorkshireBoy wrote: »

Agreed, but we're not talking specialisms here (on this specific point)...we're talking about writing a good, accurate, document, and proof-reading it before sending it.

Yes, and there was an instance further up the thread of a response that was quite unprofessional and rude. I do wonder how far they've dropped the bar to get adequate staffing levels to deal with the TSB onslaught.

My own experience (a complaint I made a few weeks prior to Cotta) was that the Investigator I dealt with was very pro-active and seemed to know her stuff.

Cotta

YorkshireBoy wrote: »

So the D&I incurred over the last 4 months has been EXACTLY twice what it was the first 4 months?...or have you just plucked the figure out of thin air? Remember, she's asking you to justify, and evidence, the figure you provide. You can do that can't you? Hopefully you can, because no-one here will be able to do it for you.

The adjudicator has given a clear indication that £500 will not be paid this time, however as a baseline I'd advise the adjudicator that in my own view £500 is the minimum amount with interest paid on top of this which is still outstanding from tranche one. The effort has been much more than the first time but that may not cut mustard with FOS.

masonic

Cotta wrote: »

The effort has been much more than the first time but that may not cut mustard with FOS.

If it doesn't, and you continue to be refused access to an Ombudsman for a final decision, then then you can always fall back on complaint.info at financial-ombudsman.org.uk

Cotta

I've been thinking about what I'm going to request from FOS and the following three pointers are my requirements.

- Missing interest from tranche one to be paid. Additionally I want interest paid on the amount above £1500, the adjudicator has said this will be difficult to measure as the amount has been fluid and is unsure if the 5% can be used on the total amount.

- As TSB cannot offer me the service I require and as my intention was to stay with them long term therefore some potential lost future interest should be paid.

- TSB to give an assurance that I can rejoin TSB in future, avail of any referral offers and be eligible for the 5% rate.

eskbanker

Cotta wrote: »

I've been thinking about what I'm going to request from FOS and the following three pointers are my requirements.

- Missing interest from tranche one to be paid. Additionally I want interest paid on the amount above £1500, the adjudicator has said this will be difficult to measure as the amount has been fluid and is unsure if the 5% can be used on the total amount.

Not sure it's valid to seek interest above £1500, as this isn't a feature of the product - you could argue that had you been able to access/move the money you'd have earned interest on that surplus elsewhere, but that's a slightly different contention.

Cotta wrote: »

- As TSB cannot offer me the service I require and as my intention was to stay with them long term therefore some potential lost future interest should be paid.

Seems reasonable to me.

Cotta wrote: »

- TSB to give an assurance that I can rejoin TSB in future, avail of any referral offers and be eligible for the 5% rate.

While accepting the point made earlier in the thread that they shouldn't be barring you as if it was your fault, personally I think it weakens your case if you suggest that you'd countenance going back to them - surely you must have lost confidence in them by now? Granted there's some interest to be earned, but that potentially conflicts with your previous point about loss of future interest, i.e. it wouldn't be reasonable to expect to effectively earn the same interest twice.

Apart from anything else they wouldn't be in a position to guarantee what their future products will be or their eligibility criteria, so if you feel strongly that you want the right to go back then I'd simply phrase it along the lines of seeking an assurance that they're not blacklisting you rather than anything more specific.

Cotta

eskbanker wrote: »

Not sure it's valid to seek interest above £1500, as this isn't a feature of the product - you could argue that had you been able to access/move the money you'd have earned interest on that surplus elsewhere, but that's a slightly different contention.

Seems reasonable to me.

While accepting the point made earlier in the thread that they shouldn't be barring you as if it was your fault, personally I think it weakens your case if you suggest that you'd countenance going back to them - surely you must have lost confidence in them by now? Granted there's some interest to be earned, but that potentially conflicts with your previous point about loss of future interest, i.e. it wouldn't be reasonable to expect to effectively earn the same interest twice.

Apart from anything else they wouldn't be in a position to guarantee what their future products will be or their eligibility criteria, so if you feel strongly that you want the right to go back then I'd simply phrase it along the lines of seeking an assurance that they're not blacklisting you rather than anything more specific.

Good feedback, I'm trying to construct my asks in such a way that they come across as fair and that I am not being unreasonable or greedy.

Cotta

Reading through my correspondence with FOS it's no wonder the advisor wants this off her desk.

I'm finding it impossible to put something forward for Monday, all I can justify is interest of 5% on the £1500 within the balance although this was requested in August and not paid. I will also request some consideration be given to the surplus part of the balance but as stated above I've no right to anything here.

As my account will have to be closed I will explore what options I have for missed interest especially as the adjudicator referenced this to me.

That's all I will be putting forward.

Cotta

An offer from TSB through FOS as per below, however I am rejecting this.



Dear Mr. Cotta,



Further to your email on 08.12.18 regarding a final settlement and how you want some level of compensation for "trouble and upset" and all missing interest paid along with some subsequent interest to account for lost earnings, I am unable to accept this as it is not properly qualified. You also used the original £500 as a baseline which I asked you not to do as any subsequent payment would be more in the “goodwill” category. However I do have an update that may satisfy your demands.



As of this morning I have spoken to my colleague in TSB and they have advised the following:



- They are not going to be making further payments for compensation beyond the £500 already paid in October.

- They have agreed to close your account and issue you with a cheque for the balance within 30 working days of acceptance of their offer.

- They have agreed to pay £48 for missed interest accounting for eight months, again this will be paid within 30 working days of acceptance of their offer.

- They reject the technical issues claiming they have devoted a specialist contractor who reset your password a number of times and could not detect the problem. The contractor also advised that she sent a reset password to herself and was able to use it to access your account from her system.

- TSB have apologised that the contractor phoned from a mobile in a poor reception area which resulted in sound issues, furthermore TSB have apologised that the contractor was distracted continually during the troubleshooting, however it appears they work remotely and were looking after their child that day.

- TSB have finally agreed to offer a formal apology via writing for any distress you’ve experienced during your time as a customer.



Could you advise if the above points are to your satisfaction and if you’re happy for me to close off your case?



Kind Regards

FOS.