When Banks don't Act on FOS Findings

Cotta

A final response from FOS so I now have to wait which is fine.


Back to my very first question, what is the actual procedure if an Ombudman makes a decision and the bank is to act within three weeks and they do not?


Dear Mr. Cotta,

As per your instruction on Monday I have instructed TSB to pay £500 compensation and a suitable level of interest. You will now need to be patient and await its arrival.

Your complaint has now been closed off.


Regards
FOS

eskbanker

Cotta wrote: »

Back to my very first question, what is the actual procedure if an Ombudman makes a decision and the bank is to act within three weeks and they do not?

Masonic answered this at post #10 - back then the matter was of course still with an adjudicator, whereas the more formal status of ombudsman decision is harder for even TSB to ignore....

IanManc

Cotta wrote: »

A final response from FOS so I now have to wait which is fine.


Back to my very first question, what is the actual procedure if an Ombudman makes a decision and the bank is to act within three weeks and they do not?


Dear Mr. Cotta,

As per your instruction on Monday I have instructed TSB to pay £500 compensation and a suitable level of interest. You will now need to be patient and await its arrival.

Your complaint has now been closed off.


Regards
FOS

"You will now need to be patient" is incredibly patronising.

I don't think the complaint should have been "closed off" until you confirmed that you had received the money.

Cotta

eskbanker wrote: »

Masonic answered this at post #10 - back then the matter was of course still with an adjudicator, whereas the more formal status of ombudsman decision is harder for even TSB to ignore....

Just reading back now. Yes I agree that an Ombudsman decision would perhaps have been the way to go. So if this had went to Ombudsman at stage I and TSB ignored their ruling after three weeks I could have still have requested additional Compensation or a court ruling?

IanManc wrote: »

"You will now need to be patient" is incredibly patronising.

I don't think the complaint should have been "closed off" until you confirmed that you had received the money.

Yes agreed but I think if they don't pay I can reopen the case.

eskbanker

Cotta wrote: »

Just reading back now. Yes I agree that an Ombudsman decision would perhaps have been the way to go. So if this had went to Ombudsman at stage I and TSB ignored their ruling after three weeks I could have still have requested additional Compensation or a court ruling?

I wasn't actually saying that escalation to an ombudsman at that stage would have appropriate, although with hindsight perhaps it would have been a more obvious move given what subsequently became clear about the intransigence of both TSB and the adjudicator.

I can't see much point in hypothesising about what might have happened then, but looking forwards, let's see (a) whether TSB object to the adjudicator's final decision, (b) what the ombudsman decides if they do, and finally (c) how TSB reacts to that....

Cotta

eskbanker wrote: »

I wasn't actually saying that escalation to an ombudsman at that stage would have appropriate, although with hindsight perhaps it would have been a more obvious move given what subsequently became clear about the intransigence of both TSB and the adjudicator.

I can't see much point in hypothesising about what might have happened then, but looking forwards, let's see (a) whether TSB object to the adjudicator's final decision, (b) what the ombudsman decides if they do, and finally (c) how TSB reacts to that....

Yes for example is TSB come back and reject the adjudicator's ruling, it goes to the Ombudsman and they agree with the adjudicator and give TSB three weeks to pay the compensation. If after three weeks there is nothing from TSB, is the Ombudsman in a position to award more compensation or is this the stage where is goes to court for the original amount?

eskbanker

Cotta wrote: »

Yes for example is TSB come back and reject the adjudicator's ruling, it goes to the Ombudsman and they agree with the adjudicator and give TSB three weeks to pay the compensation. If after three weeks there is nothing from TSB, is the Ombudsman in a position to award more compensation or is this the stage where is goes to court for the original amount?

I really wouldn't tie yourself in knots speculating about what may happen in an unlikely future scenario (despite what's gone before)! My understanding is that additional compensation simply for a delay in paying compensation is far from automatic, and whether or not you choose to pursue them in court will also depend on circumstances at the time (e.g. wilful refusal/objection versus minor processing/admin error), so trying to second-guess everything in advance is unlikely to be a useful exercise and I'd strongly recommend just letting things take their course, if it goes to an ombudsman in the first place of course....

masonic

Cotta wrote: »

Yes for example is TSB come back and reject the adjudicator's ruling, it goes to the Ombudsman and they agree with the adjudicator and give TSB three weeks to pay the compensation. If after three weeks there is nothing from TSB, is the Ombudsman in a position to award more compensation or is this the stage where is goes to court for the original amount?

This is the point at which you tell the Ombudsman that you want TSB reported to the FCA for breach of regulatory requirements and you file a moneyclaim online to pursue the debt and costs through the small claims court.

Interestingly, there was some discussion about avoiding the Ombudsman altogether and going straight to the small claims court on this week's FT money podcast. There was an interesting anecdote, not relating to a bank, but involving a hotel that clamped a guest's car. The guest complained, then filed a claim in the small claims court, which was also ignored, so he got a bailiff sent over who started trying to seize a TV during the showing of a world cup game. Suddently the cash plus fees and expenses appeared.

https://www.ft.com/content/8a95599d-5163-4245-bc4b-b29c19b46f3e starts at 17:22

NewToTheUkAgain

OP - Just got round to reading the thread, well done for hanging in there and having the patience of a saint!

I think I would of lost all the hair I have left by now!

Cotta

I received an unexpected call from FOS today to enquire if TSB have made the compensation paymens as of yet. The adjudicator was quite surprised when I said no as she was expecting the payments to have been paid immediately. In sumising she advised they maybe having problems working out the interest and asked that I give them another week. I had sort of forgotten about this case until today, is TSB's delay in paying a concern?