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Santander compensation help.

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I am currently negotiating a compensation settlement from Santander, after refunding (£1700+) fraudulent transactions which they initially said that they wouldn't.

Just before Christmas I was notified that I had gone over my arranged overdraft.

On checking there was £1700.00 of fraudulent transactions.

I immediately contacted the bank to tell them (same day as transactions).

Later Santander fraud department contacted me.

Santander declined my claim.

I could not access my account or funds that I had saved for the Christmas period.

Santander were rude, dismissive and incompetent.

I showed evidence that I was not negligent in anyway or complicit in their execution.

I was wholly innocent of anything that might have facilitated these transactions. 

6+ hours of phone calls and 4+ hours constructing an accurate timeline of events.

How might I calculate what is reasonable compensation.

Thank you


Comments

  • ForumUser7
    ForumUser7 Posts: 2,185 Forumite
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    Sorry to hear about this.

    In terms of compensation, I tend to find the FOS guidelines helpful to figure out a sensible amount: https://www.financial-ombudsman.org.uk/consumers/expect/compensation-for-distress-or-inconvenience

    FOS does not tend to compensate any kind of hourly rate, instead they just fit it into a banded award.

    Hopefully you can resolve it with Santander, but regardless I find that article helpful for working out what kind of compensation should be paid to me when I've been messed around.
    If you want me to definitely see your reply, please tag me @forumuser7 Thank you.

    N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.
  • martinbainbridge1975
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    I had an issue with creation last year over a car finance, whilst it was not fraudulent their attitude was equally as bad and staff demonstrated incompetence.

    I got £500, something to consider is that if the financial or banking ombudsman become involved the businesses get charged by them, last check I had was £750 being the cost to the business
  • The_squirrell
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    I had an issue with creation last year over a car finance, whilst it was not fraudulent their attitude was equally as bad and staff demonstrated incompetence.

    I got £500, something to consider is that if the financial or banking ombudsman become involved the businesses get charged by them, last check I had was £750 being the cost to the business
    Yes, it is £750. However, I can only say that for the firm I work for, this is irrelevant. If a complaint is justified, then we will compensate accordingly. If a complaint is unjustified or unreasonable, we will will not let the FOS cost influence a decision as we try to be fair to all customers whether they shout loudly, or not

    I work in Data Protection and spend my days dealing with CMC's. Only here trying to help!!
  • martinbainbridge1975
    martinbainbridge1975 Posts: 336 Forumite
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    edited 26 January 2023 at 2:33PM
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    I had an issue with creation last year over a car finance, whilst it was not fraudulent their attitude was equally as bad and staff demonstrated incompetence.

    I got £500, something to consider is that if the financial or banking ombudsman become involved the businesses get charged by them, last check I had was £750 being the cost to the business
    Yes, it is £750. However, I can only say that for the firm I work for, this is irrelevant. If a complaint is justified, then we will compensate accordingly. If a complaint is unjustified or unreasonable, we will will not let the FOS cost influence a decision as we try to be fair to all customers whether they shout loudly, or not

    Fair point, it is a shame all companies are not fair to customers.

    I would sum up creation as cowboys - I could not believe some of the garbage they spouted out for their breaches and mistakes.

    20 odd years financial service experience certainly helped in my case as creation assumed they could do as they please.

    1 thing I never do is shout, always keep it factual as if you raise your voice you have lost any argument in my view
  • dunstonh
    dunstonh Posts: 117,104 Forumite
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    I got £500, something to consider is that if the financial or banking ombudsman become involved the businesses get charged by them, last check I had was £750 being the cost to the business
    That doesn't apply to big companies.  They pay a block fee instead of a case by case fee.



    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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