Lloyd’s gold package account complaint

Lanson

Hi all,

I’m currently a carer for someone that was miss sold a gold Lloyd’s package account that they had from 2003-2008 .It was only until 2008 after Lloyd’s down graded the account without notice in 2008 but the person then closed that account in March 2013.

Lloyd’s are saying that the person,should of known from 2008 to make a complaint and it is too late to claim.They acknowledge it was miss sold but past 6 years. I explained that the person had a different carer and this was not picked up on his account. I explained that the person’s account was closed in 2013 and still should be in the 6 years but Lloyd’s are saying that have rejected the complaint and The person would have to make their complaint heard to the ombudsman.

I just wondered if there were anyone with similar complaints and what was the outcome?

Thanks

eskbanker

Any complaint to a financial institution can legitimately be rejected on timebarring grounds if raised:

more than:
(a) six years after the event complained of; or (if later)
(b) three years from the date on which the complainant became aware (or ought reasonably to have become aware) that he had cause for complaint;

The mis-selling event itself was in 2003 and the account-holder ought reasonably to have been aware of this having happened after the downgrade in 2008, but even if the 2013 closure was taken as the latter trigger point, more than three years have passed since then anyway.

There is no point in referring such complaints to FOS as they're obliged to agree with the bank in such timebarring circumstances.

Lanson

Thanks for your reply, even if I submit medical records showing that the person was medically and mentally unfit during this period.I have found several doctor and consultant letters dated within 2004-2018 or would this not matter to the ombudsman?

eskbanker

Lanson wrote: »

Thanks for your reply, even if I submit medical records showing that the person was medically and mentally unfit during this period.I have found several doctor and consultant letters dated within 2004-2018 or would this not matter to the ombudsman?

Unfortunately it seems that Lloyds accept the mis-selling but are simply (legitimately albeit perhaps uncaringly) exercising their right to timebar the complaint regardless of its merits, and, as I understand it, FOS won't overturn a bank's decision to reject a complaint for timebarring.

lee1428glen

Why have Lloyd’s now just changed me an Account Fee of £14.95 for my Gold Account.    I have had this account for over 30 years and applied all the rules ie . always having minimum amount in balance.  Local branch can’t explain properly  , Lloyd’s online chat have no answer, phone line is premium rate with long hold time, e - mailed twice in last 12 days with no reply . Such poor service for a loyal long serving customer.
Does anyone know the answer?

D3xt3r5L4b

lee1428glen said:

Why have Lloyd’s now just changed me an Account Fee of £14.95 for my Gold Account.    I have had this account for over 30 years and applied all the rules ie . always having minimum amount in balance.  Local branch can’t explain properly  , Lloyd’s online chat have no answer, phone line is premium rate with long hold time, e - mailed twice in last 12 days with no reply . Such poor service for a loyal long serving customer.
Does anyone know the answer?

They’ve charged for it for many years now. I believe it started at £12.95 per month and is now £14.95, per their website... https://www.lloydsbank.com/current-accounts/all-accounts/gold-account.html

Neil49

The fee for the Gold Account is payable monthly no matter how much your balance is.

Are you saying that you have never paid for it at all in previous months (which is what your post implies) or that the cost has increased?

Nearlyold

Neil49 said:

The fee for the Gold Account is payable monthly no matter how much your balance is.

Are you saying that you have never paid for it at all in previous months (which is what your post implies) or that the cost has increased?

Not if you took the Gold Account before a certain date (can't remember the date I'm afraid). We have a Gold Account and provided we maintain a minimum balance of £2,000 we don't pay any fee, we haven't paid anything for the last 10 years or so and still have all the benefits of the account.

dunstonh

Lloyd’s online chat have no answer, phone line is premium rate 

The phone line is not premium rate.  Financial firms are not allowed to have premium rate telephone numbers and Lloyds do not.

Why have Lloyd’s now just changed me an Account Fee of £14.95 for my Gold Account.  

Lloyds write to you when they make changes to the T&C or charge changes.  

The gold account has had a £14.95 fee for a while but pre-2005 gold accounts had the charge waived as long as they had a cleared balance in excess of £2000 for the whole of the month.  One day under and you got the £14.95 charge.

For future reference, it is worth starting a new thread rather than posting on an existing old thread on an unrelated subject (this one was a missale complaint thread - yours is nothing to do with that).