Behaviour of MBNA
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Two weeks ago I applied to MBNA, through the MoneySupermarket website, for a personal loan of £7,000 towards buying a car. I got approval quickly and on Monday 7th November received a loan agreement by email. The covering email told me I should receive the loan within 3-5 working days. A week later, with no communication or money from them, I called them. The helpful chap I spoke to said he would pass my query onto his 'Operational Team'. On Wednesday 16th November, I got a call from MBNA. She told me that my loan had not been paid as I had asked for it to be paid into a business bank account and, as this was a personal loan, so it needed to be a personal account. I felt a bit daft, as that was obvious but the guidance on filling in the application did not state this. She told me I had a to apply again from scratch. I asked why the application wasn't rejected immediately and couldn't I go back into the application and change the bank account but she said that was not possible. I asked why it had taken 10 days to tell me this when over a week ago they had sent me a loan agreement. Why wait until I contacted them? Why send a loan agreement out when they weren't going to give me the loan? She apologised. I then asked what happened to my application as it's full of very valuable personal information. She replied, rather vaguely, 'oh it just drops off the system'. And I asked 'where does it drop to? Is it hanging around the ether for criminals to pick up?' She didn't know but assured me that it was secure, but she clearly didn't know!
This worries me on two counts: firstly they have behaved badly and have strung me along for 10 days without telling me I wasn't getting the loan they had apparently approved. Should I complain formally or report them to the Banking Ombudsman? Secondly, how can I be assured that my confidential information has been destroyed? Should I report them to the Information Commissioner?
Wanted to warn you about this in case you also apply to MBNA in addition to asking what the best course of action is please.
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