Morgan Stanley CASHBACK card now Goldfish

lic

I have a Morgan Stanley cashback card. They are now operated by Goldfish bank.
When they were MS, on the annerversary date they would automaticly forward the cashback by cheque. So if I earned £30.91 cashback they would send me a cheque for that amount.
I thought that this would be unchanged when MS changed to GF. However this is not the case. Having noticed that my cashback cheque had not arrived I telephoned them to enquire why. I was told that the cashback was no longer automatic, and that if the card holder requested the cashback, they would be asked if they wanted it as a credit or in cheque form. I was also told that the cashback was rounded down to the nearest £10. Which means that if the cashback were £38.91, they would only pay £30 cashback.. The remainder would role over to the next anniversary date.
So if you have one of these cards ring them up and get your cashback. Then cancel the card, as they will rip you off next year unless you cashback is exactly divisible by £10.

johnmoney05

As far as I know, this has been going on for quite a while, supprised you mentioned now. You also got the information wrong, the cashback was not rounded down to the nearest £10. It is £15.

malky39

And they started to charge people £20 to use the card

shays_mum

We got a letter saying they are no longer running the cashback scheme (Confused ?!)

skybluesaver

Blimey, it just gets better. Its almost as if they're trying to p*ss off as many Morgan Stanley customers as possible, so they close their accounts.
I've been trying to stop the £20 annual fee but keep getting told its generated automatically by the system & can't be overridden.
Suffice to say, Morgan Stanley are gonna be history soon.

craighock

I have experienced similar issues with Goldfish changing my terms and conditions from those of Morgan Stanley.

After having a Morgan Stanley Cash back Card since November 2004 and having received cash back on the anniversary in November 2005 and 2006 without any issues. I noticed in mid November 2007 that I hadn’t received this years payment, much to my surprise the very snotty lady from Goldfish informed me that I could only have my cash back in increments of £15 and this had been the case since October 2006 when Goldfish had taken and changed the terms and conditions. So I reclaimed all but £12.23 of my cash bank.

Having dwelled on this for a couple of days I went through all my documentation and discovered I had received no new terms and conditions and decided to try the hard ball approach. Again I rang Goldfish and got another snotty person (do they train them to be rude to customers?)

I decided to call their bluff and demand either they pay me the cash back I was due or I would close my account. I pointed out two important facts.

1) The contract I signed up to stated that cash back would be paid on the anniversary of the account opening and this contract I signed and agreed to the terms and conditions. At no other point had I agreed to their changes and I expected them to honour the contract I had agreed to.

2) They paid all my cash back in full in November 2006 a full month after they claimed the new terms and conditions had been introduced.

The rather snotty lady said that they could do nothing so I closed my account with them in early December 2007. No great loss as I already have a better paying cash back card with Capital One and was not using it.

Thoroughly annoyed with Goldfish and their attitude I rang the Financial Ombudsman and made a formal complaint stating the two points above and they agreed to investigate.

The Financial Ombudsman wrote to Goldfish on the 17th December 2008 on my behalf and I received a reply from Goldfish on the 29th January 2008.

It states:

'I write in response to your letter from the Financial Ombudsman Service on 17 December 2007 regarding your request for the redemption of your Cash back Bonus Award. Firstly accept our sincere apologies for the delay in your response.

I understand that you are unhappy that you have not received your Cash back Bonus Award in full.

The Cash back bonus is redeemable in increments of £15 in line with the Terms and Conditions of your account. As this is a loyalty reward scheme, it is forfeited upon closure of your account.

As a one off gesture of goodwill, I will arrange a cheque to be issued out for the sum of £12.23 under separate cover. I would like to apologise if this has caused you any inconvenience.'

So there you have it despite closing my account and not obeying their terms and conditions they paid me the remaining cash back owed.

I admit that it had proberly not been an efficient use of my time to get £12 but the attitude of Goldfish and their customer team annoyed me so much I would have quite happily have continued this out of devilment.

I now have the issue of making sure Goldfish actually close the account, as yet they still haven’t managed to do it almost two months after I requested it. Having read some of the other posts I see I am not alone in this either.

I hope this helps others in the same boat, don’t allow Goldfish to fob you off and pursue them for every penny, if they honoured the terms and conditions we all signed up to in the first place there would be no issue and they would retain existing customers.

Craig

MrBen_4

malky39 wrote: »

And they started to charge people £20 to use the card

I've heard this somewhere else, but my statement is not indicating any annual fee of sorts. Can anyone explain?

I've just requested my cashback (2 months after the annual period as I didn't know I had to request it!) and was told the excess (amount left over from the multiple of £15) will be carried forward to the following year. I'm wondering wether to cancel it if annual charges are going to come into effect. I have a large purchase to make in March and may aswell get another cashback card if any fees will negate the cashback amount, especially if I will be stuck being able to claim the cashback owed for another 12 months.

Is it possible to add money to my MS card, i.e if my credit limit is £3k and I need to make a £4k purchase can I make a one off payment of £1k to the card so I don't breach the credit limit when time comes to make the £4k payment?