Bank closed savings account

creditavenger

Cappyston, I wouldn't accept a paltry £100 for this. I'd want at least £250.
From what you say they have probably breached the GDPR regulations. That will be why they are keen to settle with the minimum of fuss. If you are getting the feeling that they are saying you should get back to them if you feel that they have offered you a too low amount, then why no do so, and negotiate a better settlement before placing your business elsewhere.
It always surprises me how respondees to these type of threads are keen for posters to accept low offers - but would they do so themselves if they were themselves in your position? 

cymruchris

creditavenger said:

but would they do so themselves if they were themselves in your position? 

Yes. I have more important things to do with my life than battle over a problem that's already solved. I'd be happy to take the £100 for something I'd not even noticed had happened - and then buy myself something nice with it, and enjoy it. 

Sailtheworld

I used to have to handle customer complaints. You used to get the squeaky wheels; 'I'm going to Trading Standards' this and 'I'm going to write to the papers' that. All sorts of flowery adjectives; disgusted; horrified shocked etc. for entirely trivial complaints and they used to take up a disproportionate of time and money.

Then you'd get exactly the same complaint being made by a nice person who would say 'excuse me; I've had a problem with one of your products can you help me sort it out?' and it would be a pleasure to do so.

OP, Thank Virgin for spotting this problem before it came to your attention, ask if they've put measures in place to minimise the risk of it happening again and accept the £100 with good grace. Pay it forward. Be happy.

creditavenger

fiisch said:

This is not a golden opportunity to shaft them for £000's.

These are the Banks for goodness sakes.. They are a special case!
Remember Libor, CEO's bonuses, financial misselling and also look at today's 0.01% savings rates before you start feeling sorry for them. 

Sailtheworld

https://newsthump.com/2020/06/01/karen-fuming-after-request-to-see-the-manager-met-with-all-complaints-matter/

MovingForwards

creditavenger said:

It always surprises me how respondees to these type of threads are keen for posters to accept low offers - but would they do so themselves if they were themselves in your position? 

I wouldn't actually be taking the money. 

OP is getting compensated for something he wasn't aware of, as he doesn't pay attention to his accounts. He had no loss, or minimal interest loss, so of course £100 is a reasonable offer.