Bank Error - Compensation Sought

ShelfStacker_3

Morse, if they didn't tell you the cheque book would be stopped (and they will have recorded your call - if they hadn't, they'd be raked over the coals if you ever took your complaint to the Financial Ombudsman Service) then you would definitely deserve compensation. I would exhaust the bank's complaints procedure first, including asking for a copy of the taped phone call, and if that brings no joy then take your case to the FOS.

I think PROLIANT's post is uncalled for so long as they did not inform you of the stopping of the cheque book, as considering the damage it did you should get something. If they did inform you, and you used the cheques anyway, you don't have a leg to stand on and should take the £50 forthwith.

Morse_2

ShelfStacker wrote: »

Morse, if they didn't tell you the cheque book would be stopped (and they will have recorded your call - if they hadn't, they'd be raked over the coals if you ever took your complaint to the Financial Ombudsman Service) then you would definitely deserve compensation. I would exhaust the bank's complaints procedure first, including asking for a copy of the taped phone call, and if that brings no joy then take your case to the FOS.

I think PROLIANT's post is uncalled for so long as they did not inform you of the stopping of the cheque book, as considering the damage it did you should get something. If they did inform you, and you used the cheques anyway, you don't have a leg to stand on and should take the £50 forthwith.

No, they didn't tell me the cheque book was being stopped and they have admitted that and made me the offer of £50. If they had told me then I wouldn't have used the cheque book when it then arrived.

MarkyMarkD

Morse Thanks for explaining that you waited two weeks for the cheque book before asking where it was. That's plenty long enough and I can see why the bank thought it had got lost, and hence cancelled it. But not telling you so is inexcusable and the adverse impact of your reputation is unacceptable too.

setmefree I think you are talking about Northern Rock. You need to realise that Northern Rock hasn't been bailed out. It's been nationalised. The money that the government is now putting into Northern Rock is going from one government-owned pocket to another. It's not costing taxpayers anything.

setmefree

MarkyMarkD wrote: »

setmefree I think you are talking about Northern Rock. You need to realise that Northern Rock hasn't been bailed out. It's been nationalised. The money that the government is now putting into Northern Rock is going from one government-owned pocket to another. It's not costing taxpayers anything.

Umm doesn't it being nationalised mean that anyone can buy bonds in it, so the tax payer would be using his/hers money twice..once to bail it out(public funds) and then buy bonds to put the money back.
Shares in Northern Rock rose by 46 per cent yesterday as investors welcomed a new £25 billion government rescue plan as a move back from the brink of nationalisation.
But the Chancellor and the Prime Minister were accused by the Conservatives of saddling every home in the country with a £2,000 second mortgage as the price for shoring up the troubled bank. Taxpayers could remain exposed for far longer than expected.
Northern Rock’s current £25 billion of loans from the Government will be converted into bonds before they are sold to investors. The loan will be paid back but the Government will guarantee the bonds throughout their terms.

ShelfStacker_3

Morse wrote: »

No, they didn't tell me the cheque book was being stopped and they have admitted that and made me the offer of £50. If they had told me then I wouldn't have used the cheque book when it then arrived.

I would therefore pursue your complaint further, and go to the ombudsman if necessary. I can see no reason why you shouldn't!

PROLIANT

ShelfStacker wrote: »

I would therefore pursue your complaint further, and go to the ombudsman if necessary. I can see no reason why you shouldn't!

I will second that, if the Muppets at the bank have dropped a boll**k then make sure that they reverse all of the damage that they have caused and that they compensate you accordingly. As a final thought to the OP, with regard to my previous post I wasn’t having a go at you personally I just seen it as an opportunity to get off my chest what I thought about the general compo culture.

Good Luck

dchurch24

be_alright wrote: »

Well, would you be content if the bank asked you for compensation when you made a mistake?

But they do.

If the mistake was the other way around the bank would have been compensated to the tune of around 100 quid.

MarkyMarkD

setmefree wrote: »

Umm doesn't it being nationalised mean that anyone can buy bonds in it, so the tax payer would be using his/hers money twice..once to bail it out(public funds) and then buy bonds to put the money back.
Shares in Northern Rock rose by 46 per cent yesterday as investors welcomed a new £25 billion government rescue plan as a move back from the brink of nationalisation.
But the Chancellor and the Prime Minister were accused by the Conservatives of saddling every home in the country with a £2,000 second mortgage as the price for shoring up the troubled bank. Taxpayers could remain exposed for far longer than expected.
Northern Rock’s current £25 billion of loans from the Government will be converted into bonds before they are sold to investors. The loan will be paid back but the Government will guarantee the bonds throughout their terms.

That plan didn't happen. The government nationalised it instead and is keeping hold of it for the time being. But nationalisation isn't inherently a bail out - if the government pay the shareholders what it's worth, then that's a fair exchange.

Railtrack was nationalised in much the same way, and nobody has ever claimed that was a bail out.