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Santander now releasing my funds after a month but should I ask for compensation ?

Locogooner
Posts: 42 Forumite
So I posted earlier this month.
Cliffnotes:
1. Santander block my account due to a claim that I wasn’t entitled to £2.75K being sent to me a year ago.
2. I ask if I can access my salary funds which would pretty much be the entire account and they say I need proof of those salaries.
3. I provide proof of those salaries in form of wage slips and they now say that it’s not good enough, and that I need bank statements from the company to prove it. And also that unless I get proof of credit for the transaction a year ago, I won’t be able to access anything.
4. They final decision to close my account and I have to get the bank statements within 30 days to get my money or else that’s it.
5. TODAY they look at my wage slips again and decide that I can in fact access ALL my funds.
What a colossal waste of time and stress. And I have incurred charges during the time my money was within witholdings.
Should I get compensated for that?
Cliffnotes:
1. Santander block my account due to a claim that I wasn’t entitled to £2.75K being sent to me a year ago.
2. I ask if I can access my salary funds which would pretty much be the entire account and they say I need proof of those salaries.
3. I provide proof of those salaries in form of wage slips and they now say that it’s not good enough, and that I need bank statements from the company to prove it. And also that unless I get proof of credit for the transaction a year ago, I won’t be able to access anything.
4. They final decision to close my account and I have to get the bank statements within 30 days to get my money or else that’s it.
5. TODAY they look at my wage slips again and decide that I can in fact access ALL my funds.
What a colossal waste of time and stress. And I have incurred charges during the time my money was within witholdings.
Should I get compensated for that?
0
Comments
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Locogooner wrote: »4. They final decision to close my account and I have to get the bank statements within 30 days to get my money or else that’s it.
5. TODAY they look at my wage slips again and decide that I can in fact access ALL my funds.
I think you can ask for lost interest for the money that was locked, and for the period it was locked for. That wouldn't be much, though. You could also ask for compensation for the time you had to put in to get access to your money again, and for the distress the matter caused you. That would amount to more than the lost interest.
As an aside, have you ascertained that there are no adverse entries on your credit files, and no CIFAS markers, as a result of this episode?0 -
^^^ I can access funds with immediate effect But the account will close within 30 days.
My credit score is okay last time I checked a couple days ago.
How do I check CIFAS markers?0 -
https://www.cifas.org.uk/contact-us/subject-access-request
You can also ask Santander to confirm in writing that they have not, and will not, register any adverse information about you with any of the CRAs, and with CIFAS
BTW, it's not the credit score that counts. No lender will ever look at that. It is the information held in your credit reference files.0 -
The request for COMPANY bank records is irregular, and I suspect not the correct advice that member of staff should have given you. Wage slips (or proof of receiving benefits or pension, etc) are generally all that's required to access frozen funds.
On the basis that the bank seems to have given you incorrect information when demanding proof of ownership, and the resulting delay has caused you a financial loss, I would tend to agree that you deserve some kind of compensation and/or goodwill payment. The bank may, of course, argue otherwise. It's worth chucking out a complaint though.
It goes without saying to empty the account straight away and use a different bank.: )0 -
Flobberchops wrote: »The request for COMPANY bank records is irregular, and I suspect not the correct advice that member of staff should have given you.0
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Locogooner wrote: »4. They final decision to close my account and I have to get the bank statements within 30 days to get my money or else that’s it.
What a colossal waste of time and stress. And I have incurred charges during the time my money was within witholdings.
Should I get compensated for that?
NO. Standard policy and even complaining to FOS will not get you any further. As clearly they think something is wrong as they are closing your account.
If it was a mistake, then they would not be closing your account.:eek:Life in the slow lane0 -
born_again wrote: »
If it was a mistake, then they would not be closing your account.0 -
Hi,
It helps to update others on your original thread rather than starting a new one. Helps for those who offered support and help that things have update/moved on and helps any other people who may find themselves in the same predicament.
Im glad to read that you now have access to your funds before they close the account.
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