Bank Mis-processes Solicitor's Payment for Sale

cpx2

Hi, just to give you an update, following in @Steves2 footsteps and advice we wrote the the HSBC CEO. This has done the trick and the monies have been repaid. But despite repeated requests the bank has not clarified its understanding of the legal position or confirmed that our interpretation of the law as their actions begin illegal. We have written to them to say we would like this clarified so that if (or should I say when) this happens again there is no lack of clarity about the legal situation. Our current suggestion is that this is taken to the financial ombudsman.
Many thanks for all your help.

eskbanker

cpx2 said:

But despite repeated requests the bank has not clarified its understanding of the legal position or confirmed that our interpretation of the law as their actions begin illegal. We have written to them to say we would like this clarified so that if (or should I say when) this happens again there is no lack of clarity about the legal situation.

Glad to hear that it's finally resolved but realistically you're on a hiding to nothing if you're writing to a bank effectively saying 'please confirm you acted illegally'!  M&S should definitely offer some compensation to resolve your complaint, and if they fail to do so (or if you deem it inadequate) then escalation to FOS for that would be appropriate, but trying to squeeze a formal written admission of legal liability out of them is ambitious IMHO....

xylophone

And did you receive the promised compensation and  an explanation of how the error occurred?