Appalling service from Clerical medical!

Thrugelmir

Malthusian said:

Thrugelmir said:

@dunstonh pointed out on the 27th August that the company is long closed for new business. Running down a legacy business becomes increasingly difficult as knowledge of the products slowly dissipates as employees leave. 

Actually Scottish Widows / Lloyds Banking Group, which is who Clerical Medical actually are, is very much open for new business.

Did you actually read what I wrote?  As being open for new business is an irrelevance. 

Using your logic a main Jaguar dealer should still be able to service cars that have been built over many decades. 

Joe9090

TUVOK  I have sent you a PM

TUVOK

Just an update on my ongoing saga with Clerical Medical.
I email them quite regularly trying to get some contact with the company, about 10 days ago some one actually replied asking for identity details to which I supplied them immediately, no reply since.
I have made a complaints application to the F.S.A. I'm not sure if they will provide any help/satisfaction etc?  but nothing else left that I can think of to do.
All I want is some communication!

ColdIron

I'm not sure the Food Standards Agency will provide you with any satisfaction. Perhaps you mean the FCA (Financial Conduct Authority). Unfortunately they don't deal with complaints, however the Financial Ombudsman Service does

TUVOK

Apologies the stress is getting to me -)

To clarify, I have sent my 'complaint to the Financial Ombudsman service and not to the F.C.A or to the Food Standards Agency -)

Malthusian

Thrugelmir said:

Using your logic a main Jaguar dealer should still be able to service cars that have been built over many decades. 

No, using my logic, if I sent my Jaguar dealer £50,000 and want to make an appointment to collect my new Jag, they should treat the handing over of my Jag with the same priority as dealing with new customers. Not dump it in a box marked "Legacy Customers" and forget about it while keeping my money.

An insurance bond is not a clapped-out obsolete product that Scottish Widows are no longer able to deal with.

Albermarle said:

I did not know about that mandate , but from my experience there is a long journey ahead to reach that point.

I believe it is still "under consultation" but that wouldn't stop me bringing it up in a complaint like this to the Financial Ombudsman. The rules are expected to become official by July 2022 (not a very long road in regulatory terms) and the fact that they haven't yet doesn't prevent the FOS from taking them into account in their judgment of what is "fair and reasonable".

TUVOK

Has anyone been in a similar situation to myself in being unable to get a reply, and unable to get any action despite promises to that effect?
I require the money involved so I would welcome any suggestions as to how to obtain it.
Thank you

Rookie13

TUVOK said:

Has anyone been in a similar situation to myself in being unable to get a reply, and unable to get any action despite promises to that effect?
I require the money involved so I would welcome any suggestions as to how to obtain it.
Thank you

I moved a small private pension pot I had with them recently to a larger pension I have with another company. It went through in a timely manner ( a few weeks).  I too have an insurance type bond with them. Trying to get someone to speak to on their " help" line has been a similar experience to yourself. You could start off clean shaven and end up with a five o`clock shadow by the time you put the receiver down in frustration. I did phone Scottish Widows who told me their team are still " there" and will answer. I was also told to try at non peak times. It seems I did get lucky one time and somebody answered fairly promptly to give me a valuation. I have no experience ( beyond moving my pension pot ) as to moving / receiving any other monies from them, in recent times.

Joe9090

TUVOK said:

Has anyone been in a similar situation to myself in being unable to get a reply, and unable to get any action despite promises to that effect?
I require the money involved so I would welcome any suggestions as to how to obtain it.
Thank you

You said earlier 'I would like to sever all ties with this company, but I am deterred by the taxation etc difficulties which may arise and I do not have the knowledge to undertake the task, and as informed in previous threads, to hire a financial advisor for a £28K bond would not be worthwhile in charges'

I think you mind find if you cash in the bond completely you will have a better chance of getting the money quickly. You need to understand what a 'chargeable event' means and how it would affect you tax wise if you cash in the whole bond. If you are a basic rate tax payer you most probably will not have to pay any further tax because CM pay the basic tax on the bond for you. If you are a higher rate tax payer you need to get financial advice. There are a couple of Financial Advisers who have contributed to this thread and I would like them to confirm what I said above before you do anything. 

TUVOK

Thanks for the replies.
As I have posted earlier, I have tried emails and phone calls, I have had a answer/reply twice but then nothing!

Has any one had experience of writing to the the CEO and sending by signed for receipt, if yes? did you have any success?

Thanks.