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Caught my bank lying. How can I negotiate a higher compensation?
Comments
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This scenario takes me back!
Customers wanting to take on the banks who think they know better - it's always ''Ill have you for this that or the other''
Once a customer made a complaint about me to a local newspaper - got his photo in the paper too outside the branch (I was 100% correct in what I had told this person) with the sad face look.
Anyways I got a personal phone call from the local director who thanked me for the free advertising!
I'm with the majority here take the money and move on literally! - Get a switch bonus on top of the £500.5 -
Anyone can report wrongdoing (by a regulated firm or individual) to the FCA.Nasqueron said:
Just to be clear, 1) you cannot go to the FCA, they do not handle customer complaints, you can only go to the FOS...vikkiew said:
I thought about this but the bank has admitted an error of judgement was made an employee. I plan to take the most and then submit to FCA but I didn't know how to go about asking the bank if they would give me higher to stay quiet and not go to FCA.Section62 said:vikkiew said:I raised a complaint with a bank after noticing something in their system not working correctly. I did not suffer direct financial loss but the situation did cost me £100 indirectly and 2 months of correspondence and waiting during the complaint. The issue has likely caused problems for other customers without them realising.
In the beginning the bank denied there was any problem and blamed me for not having done something correctly. Meanwhile they corrected the problem I had found. When I confronted them they tried to continue the lie before admitting there had been an issue and they had fixed it. The complaints team blamed an individual employee for the lie.
They have apologised and offered me £500 as goodwill. Considering they deliberately lied and blamed me rather than admitting their mistake I don't want to accept this. How do I ask for more? Can I get more if I threaten to involve the Financial Ombudsman or promise not to involve them?
No I will not name the bank. They are a high street bank you have heard of.If you go to FOS there's a risk the investigator and/or ombudsman will lack the ability to comprehend the problem and instead declare that the bank has done nothing wrong, even though they have already admitted their error.In which case you could end up with nothing.Take the money. And possibly consider making a submission to the FCA if you believe the issue is something worth bringing to their attention.
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I'm confused, did the bank actually cause you to be out of pocket or not?.vikkiew said:I raised a complaint with a bank after noticing something in their system not working correctly. I did not suffer direct financial loss but the situation did cost me £100 indirectly and 2 months of correspondence and waiting during the complaint. The issue has likely caused problems for other customers without them realising.
In the beginning the bank denied there was any problem and blamed me for not having done something correctly. Meanwhile they corrected the problem I had found. When I confronted them they tried to continue the lie before admitting there had been an issue and they had fixed it. The complaints team blamed an individual employee for the lie.
They have apologised and offered me £500 as goodwill. Considering they deliberately lied and blamed me rather than admitting their mistake I don't want to accept this. How do I ask for more? Can I get more if I threaten to involve the Financial Ombudsman or promise not to involve them?
No I will not name the bank. They are a high street bank you have heard of.
If yes how so?, if no you are £500 up, if yes you are £400 up.
£500 is a great result from a bank in any case, I tell you what accept the money and if you really don't want it you can give it to me or charity or something.
Banks probably don't give out that much to many for compo, and threatening them really isn't going to help you is it?, would you rather have £500 or £0?, also do you want to be banned from having an account with whoever you bank with?
I feel without more information people can't make a full opinion on your experience, yet you came here clearly to get reactions.
Not saying you have to give all the details but you have to consider the current replies already received.
Banks aren't the only liars, mobile phone companies lie, councils lie, police lie, world is full of liars, at the end of the day we expect a good/right result and you've got one why try pushing for more?, just seems greedy as to me, accept and move on.
Really have a think about £500, what could you do with it, you could use it to make more money if you put it in the right place/s, you could get a holiday, use it to do up where you live, all sorts of things.8 -
You could report it if there was an actual breach of FCA rules or a scam, but they wouldn't accept a customer complaint case about the level of compensationSection62 said:
Anyone can report wrongdoing (by a regulated firm or individual) to the FCA.Nasqueron said:
Just to be clear, 1) you cannot go to the FCA, they do not handle customer complaints, you can only go to the FOS...vikkiew said:
I thought about this but the bank has admitted an error of judgement was made an employee. I plan to take the most and then submit to FCA but I didn't know how to go about asking the bank if they would give me higher to stay quiet and not go to FCA.Section62 said:vikkiew said:I raised a complaint with a bank after noticing something in their system not working correctly. I did not suffer direct financial loss but the situation did cost me £100 indirectly and 2 months of correspondence and waiting during the complaint. The issue has likely caused problems for other customers without them realising.
In the beginning the bank denied there was any problem and blamed me for not having done something correctly. Meanwhile they corrected the problem I had found. When I confronted them they tried to continue the lie before admitting there had been an issue and they had fixed it. The complaints team blamed an individual employee for the lie.
They have apologised and offered me £500 as goodwill. Considering they deliberately lied and blamed me rather than admitting their mistake I don't want to accept this. How do I ask for more? Can I get more if I threaten to involve the Financial Ombudsman or promise not to involve them?
No I will not name the bank. They are a high street bank you have heard of.If you go to FOS there's a risk the investigator and/or ombudsman will lack the ability to comprehend the problem and instead declare that the bank has done nothing wrong, even though they have already admitted their error.In which case you could end up with nothing.Take the money. And possibly consider making a submission to the FCA if you believe the issue is something worth bringing to their attention.
Per the FCA site:If you feel like you’ve been treated unfairly by a financial business, or if you’re unhappy with a financial service, you have the right to complain.While complaining can feel daunting, our rules mean that firms must deal with your complaint fairly, consistently and promptly. And if you’re unhappy with their response, you can complain to the Financial Ombudsman Service.
https://www.fca.org.uk/consumers/how-complain
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Nasqueron said:
You could report it if there was an actual breach of FCA rules or a scam, but they wouldn't accept a customer complaint case about the level of compensationSection62 said:
Anyone can report wrongdoing (by a regulated firm or individual) to the FCA.Nasqueron said:
Just to be clear, 1) you cannot go to the FCA, they do not handle customer complaints, you can only go to the FOS...vikkiew said:
I thought about this but the bank has admitted an error of judgement was made an employee. I plan to take the most and then submit to FCA but I didn't know how to go about asking the bank if they would give me higher to stay quiet and not go to FCA.Section62 said:vikkiew said:I raised a complaint with a bank after noticing something in their system not working correctly. I did not suffer direct financial loss but the situation did cost me £100 indirectly and 2 months of correspondence and waiting during the complaint. The issue has likely caused problems for other customers without them realising.
In the beginning the bank denied there was any problem and blamed me for not having done something correctly. Meanwhile they corrected the problem I had found. When I confronted them they tried to continue the lie before admitting there had been an issue and they had fixed it. The complaints team blamed an individual employee for the lie.
They have apologised and offered me £500 as goodwill. Considering they deliberately lied and blamed me rather than admitting their mistake I don't want to accept this. How do I ask for more? Can I get more if I threaten to involve the Financial Ombudsman or promise not to involve them?
No I will not name the bank. They are a high street bank you have heard of.If you go to FOS there's a risk the investigator and/or ombudsman will lack the ability to comprehend the problem and instead declare that the bank has done nothing wrong, even though they have already admitted their error.In which case you could end up with nothing.Take the money. And possibly consider making a submission to the FCA if you believe the issue is something worth bringing to their attention.
....Nobody suggested going to the FCA about the amount of compensation.The reason for making a submission to the FCA would be that the bank's systems appeared to be faulty and when informed about it the bank allegedly went through various denial and blame-shifting approaches before ultimately admitting a member of staff "deliberately lied" to the customer.In this case it is quite possible one or more of the FCA rules may have been breached, but as a consumer the OP would not be expected to work out which rule(s) were involved or determine if there was "an actual breach". That would be the FCA's job, based on the information submitted to them and any further investigation they carry out.A financial services organisation having an (allegedly) faulty system which they don't investigate thoroughly when an issue is highlighted to them, and then go on to (falsely) blame others for the problem as part of an (alleged) cover-up, is something which is quite topical in the news at the moment. I don't think the FCA would necessarily dismiss the OP's submission out of hand.For clarity, you said "Just to be clear, 1) you cannot go to the FCA, they do not handle customer complaints, you can only go to the FOS..." [my emphasis]. That is incorrect, as it suggests the FCA won't accept complaints/submissions from consumers. The correct situation is that anyone can make a submission to the FCA. They won't necessarily act on the information, and what the FCA won't do is to ask/order the bank to pay the consumer compensation.However, if the OP is concerned about the principle of what the bank has done, rather than just compensation, then an FCA sumbission may be their best route, since the FOS is clear about not being there to fine or punish businesses, and won't take into account whether an issue has affected other consumers.2 -
I think the title of the post and the contents of the post show exactly what the OP is concerned about.Section62 said:Nasqueron said:
You could report it if there was an actual breach of FCA rules or a scam, but they wouldn't accept a customer complaint case about the level of compensationSection62 said:
Anyone can report wrongdoing (by a regulated firm or individual) to the FCA.Nasqueron said:
Just to be clear, 1) you cannot go to the FCA, they do not handle customer complaints, you can only go to the FOS...vikkiew said:
I thought about this but the bank has admitted an error of judgement was made an employee. I plan to take the most and then submit to FCA but I didn't know how to go about asking the bank if they would give me higher to stay quiet and not go to FCA.Section62 said:vikkiew said:I raised a complaint with a bank after noticing something in their system not working correctly. I did not suffer direct financial loss but the situation did cost me £100 indirectly and 2 months of correspondence and waiting during the complaint. The issue has likely caused problems for other customers without them realising.
In the beginning the bank denied there was any problem and blamed me for not having done something correctly. Meanwhile they corrected the problem I had found. When I confronted them they tried to continue the lie before admitting there had been an issue and they had fixed it. The complaints team blamed an individual employee for the lie.
They have apologised and offered me £500 as goodwill. Considering they deliberately lied and blamed me rather than admitting their mistake I don't want to accept this. How do I ask for more? Can I get more if I threaten to involve the Financial Ombudsman or promise not to involve them?
No I will not name the bank. They are a high street bank you have heard of.If you go to FOS there's a risk the investigator and/or ombudsman will lack the ability to comprehend the problem and instead declare that the bank has done nothing wrong, even though they have already admitted their error.In which case you could end up with nothing.Take the money. And possibly consider making a submission to the FCA if you believe the issue is something worth bringing to their attention.
....Nobody suggested going to the FCA about the amount of compensation.The reason for making a submission to the FCA would be that the bank's systems appeared to be faulty and when informed about it the bank allegedly went through various denial and blame-shifting approaches before ultimately admitting a member of staff "deliberately lied" to the customer.In this case it is quite possible one or more of the FCA rules may have been breached, but as a consumer the OP would not be expected to work out which rule(s) were involved or determine if there was "an actual breach". That would be the FCA's job, based on the information submitted to them and any further investigation they carry out.A financial services organisation having an (allegedly) faulty system which they don't investigate thoroughly when an issue is highlighted to them, and then go on to (falsely) blame others for the problem as part of an (alleged) cover-up, is something which is quite topical in the news at the moment. I don't think the FCA would necessarily dismiss the OP's submission out of hand.For clarity, you said "Just to be clear, 1) you cannot go to the FCA, they do not handle customer complaints, you can only go to the FOS..." [my emphasis]. That is incorrect, as it suggests the FCA won't accept complaints/submissions from consumers. The correct situation is that anyone can make a submission to the FCA. They won't necessarily act on the information, and what the FCA won't do is to ask/order the bank to pay the consumer compensation.However, if the OP is concerned about the principle of what the bank has done, rather than just compensation, then an FCA sumbission may be their best route, since the FOS is clear about not being there to fine or punish businesses, and won't take into account whether an issue has affected other consumers.8 -
Op, has never said they were faulty.Section62 said:The reason for making a submission to the FCA would be that the bank's systems appeared to be faulty and when informed about it the bank allegedly went through various denial and blame-shifting approaches before ultimately admitting a member of staff "deliberately lied" to the customer.
I raised a complaint with a bank after noticing something in their system not working correctly.
They have never said what the issue was..
That could be anything, in reality.
Especially given the 1st reps answer, it could be user error.
Which TBH, is quite often the case. Think like someone trying to pay CC, but end up transferring funds from CC to current account, as they have miss read something.
A offer of £500 is more than generous, so either clearly something said by a staff member warranted that amount or it's a thank you for highlighting a issue, that they were not aware of.
Even FCA would not do anything. Systems do not come under their remit.Life in the slow lane1 -
Not sure what difference you see between "faulty" and "not working correctly" ?born_again said:
Op, has never said they were faulty.Section62 said:The reason for making a submission to the FCA would be that the bank's systems appeared to be faulty and when informed about it the bank allegedly went through various denial and blame-shifting approaches before ultimately admitting a member of staff "deliberately lied" to the customer.
I raised a complaint with a bank after noticing something in their system not working correctly.
They have never said what the issue was..
Not really, when the OP goes on to say "Meanwhile they corrected the problem I had found. When I confronted them they tried to continue the lie before admitting there had been an issue and they had fixed it."born_again said:Especially given the 1st reps answer, it could be user error.born_again said:Even FCA would not do anything. Systems do not come under their remit.I don't know the FCA rules inside out, but I suspect the issue here might be individual conduct or conduct of business, or something of that nature. That would be for the FCA to determine, based on anything which is reported to them.3 -
While I think all the replies are well intentioned, this isn't the well meaning forum. It's moneysaving, and the recommendations to take the mon(k)ey and run all seem based on experience and knowledge. OP is free to accept the majority view or continue on a quest for more compo.Bazzalona13295 said:
Some of these replies don't exactly fit into the 'well meaning' bracket from what I can see.eskbanker said:
When you're being deliberately evasive about exactly what happened, it's inevitable that some of the replies, however well-meaning, may not fit the circumstances precisely because it's all just guesswork. Only you will know what makes you believe it's a wider conspiracy than an individual's mistake, so there really isn't much point in any of the rest of us speculating about it!vikkiew said:I won't reply individually to the various messages attacking me of being greedy and the bank already having offered generous compensation but at least some of you may have missed there was planned and calculated misinformation on their part. According to the bank it was 'an employee' but who knows. So it's not simply an admin error that indirectly cost me 100 it's an error of judgement from of least one employee who took deliberate steps in an attempt to to cover up and in process lied.
Why am I not surprised.3 -
I'd suggest you take it up with the FCA whose own website I linked above specifically and categorically says you cannot take consumer issues (in this case, about level of compensation) to them and to go to the FOSSection62 said:Nasqueron said:
You could report it if there was an actual breach of FCA rules or a scam, but they wouldn't accept a customer complaint case about the level of compensationSection62 said:
Anyone can report wrongdoing (by a regulated firm or individual) to the FCA.Nasqueron said:
Just to be clear, 1) you cannot go to the FCA, they do not handle customer complaints, you can only go to the FOS...vikkiew said:
I thought about this but the bank has admitted an error of judgement was made an employee. I plan to take the most and then submit to FCA but I didn't know how to go about asking the bank if they would give me higher to stay quiet and not go to FCA.Section62 said:vikkiew said:I raised a complaint with a bank after noticing something in their system not working correctly. I did not suffer direct financial loss but the situation did cost me £100 indirectly and 2 months of correspondence and waiting during the complaint. The issue has likely caused problems for other customers without them realising.
In the beginning the bank denied there was any problem and blamed me for not having done something correctly. Meanwhile they corrected the problem I had found. When I confronted them they tried to continue the lie before admitting there had been an issue and they had fixed it. The complaints team blamed an individual employee for the lie.
They have apologised and offered me £500 as goodwill. Considering they deliberately lied and blamed me rather than admitting their mistake I don't want to accept this. How do I ask for more? Can I get more if I threaten to involve the Financial Ombudsman or promise not to involve them?
No I will not name the bank. They are a high street bank you have heard of.If you go to FOS there's a risk the investigator and/or ombudsman will lack the ability to comprehend the problem and instead declare that the bank has done nothing wrong, even though they have already admitted their error.In which case you could end up with nothing.Take the money. And possibly consider making a submission to the FCA if you believe the issue is something worth bringing to their attention.
....Nobody suggested going to the FCA about the amount of compensation.The reason for making a submission to the FCA would be that the bank's systems appeared to be faulty and when informed about it the bank allegedly went through various denial and blame-shifting approaches before ultimately admitting a member of staff "deliberately lied" to the customer.In this case it is quite possible one or more of the FCA rules may have been breached, but as a consumer the OP would not be expected to work out which rule(s) were involved or determine if there was "an actual breach". That would be the FCA's job, based on the information submitted to them and any further investigation they carry out.A financial services organisation having an (allegedly) faulty system which they don't investigate thoroughly when an issue is highlighted to them, and then go on to (falsely) blame others for the problem as part of an (alleged) cover-up, is something which is quite topical in the news at the moment. I don't think the FCA would necessarily dismiss the OP's submission out of hand.For clarity, you said "Just to be clear, 1) you cannot go to the FCA, they do not handle customer complaints, you can only go to the FOS..." [my emphasis]. That is incorrect, as it suggests the FCA won't accept complaints/submissions from consumers. The correct situation is that anyone can make a submission to the FCA. They won't necessarily act on the information, and what the FCA won't do is to ask/order the bank to pay the consumer compensation.However, if the OP is concerned about the principle of what the bank has done, rather than just compensation, then an FCA sumbission may be their best route, since the FOS is clear about not being there to fine or punish businesses, and won't take into account whether an issue has affected other consumers.
OP has presented no evidence about wrongdoing by any regulated individual or business and is automatically assuming bank staff lied rather than being mistaken
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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