Interest rates for TheONE Account staying up

kippygirl

Saran wrote: »

musicgbdf,
One issue that has come to light is whether increasing your facility level subsequent to the 'promises' in effect resets the account. The adjudicator is still determining this.

Hi Saran, is this something the FOS has said is an issue, i.e. something that RBS has said? They must be desperately grasping at straws if they're trying to get out of it that way. The original contract terms allow for the facility to be increased/decreased. So to try and argue that a new facility means a new contract is nonsense!

Quote from VO conditions (October 2001 edition):

2c "You may request an increase or decrease in the Facility at any time."

Nothing about starting a new contract, no reason at all why a new contract would be started and I can't see any judge upholding an argument that it would.


PS Sorry can't manage the requested loan - my bank are robbing me blind at the moment!

kippygirl

This is taken from the FOS website:

"We can resolve most complaints without needing an official decision by an ombudsman. But if an ombudsman's decision is needed in your case, that decision is final.
You do not have to accept our decision. You are free to go to court instead, if you wish."

In other words, the FOS process is that settlement may be reached before it gets to an ombudsman's final decision. If any proposed settlement is accepted then that is the end of the complaint (and you are then bound by this). However, if any proposed settlement is rejected then the complaint carries on to the ombudsman's final decision (which is binding on the bank unless you reject the decision).

If the ombudsman's final decision isn't what you think it should be, you still have your legal rights to pursue it through the (small) claims courts and it is then a basic argument about the "promises", "guarantees" etc being part and parcel of the contract.

Hope this clarifies things for anyone unsure.

munkypuzzel

Hi All,

I opened my one account 2001. Complaint logged with Fos August 2009.

I spoke to my assigned adjudicator this week and he asked about my facilty change/house move. He then confirmed that RBS were initialy rejecting my claim based on the fact that I had recieved facilty changes.

I strongly protested this point and gave my reasons why, and although he was not in a position to make comment, he agreed that I was reasonable in my assumption that moving house/changing facilty should not affect the way that i expect my account (promises) to operate.

Interestingly, he also made reference to 'contact with others on various websites' and i confirmed without giving details that I was in communication with others making a claim. I also reiterated that I was most upset/annoyed about the way RBS have been dealing/worming out of this issue, a sentimet that he confirmed many others were reporting.

Adjudicator also mentioned that they are looking at lots of cases together to see the similarities before making any decisions moving forward.

For anyone that has not taken a complant to the FoS, its not to late if you have been or are currently going throught the virginone 'complaints' procedure.

Watch this space.

Weaverbird

Hi All

Firstly I would like to thank Georgeone for all his kind assistance by PM ,my case is at adjudicator stage and had a call from FOS this week, asked him a direct question and his respone was different to how these threads have been going (settlements), so relayed this info to georgeone and after some PM's it seems that what was said is correct and this thread has now started to clarify the difference.I'm glad that after benefitting from all your efforts i could assist back

Once a judgement has been made on my case will be happy to advise outcome

karanda

I too am rejecting the RBS position that facility changes = change in operating procedures/terms and conditions etc by the bank. Particularly as they actively encouraged customers to change facilities whenever customers needed to! I changed my facility both up and down, several times, without any documentation from the bank giving me new terms and conditions. In fact, most of my facility changes were made during a quick phone conversation with V1.

The more people register their complaint with the FOS, the stronger the collective case against RBS becomes I think (even though each case may differ).

I am fairly cynical, but even I can't believe the depths to which this "bank" has sunk. If RBS gets away with this behaviour, what hope is there for the banking system?

I am out of the country at the moment, but will be back on the case on my return next week.

And at the end of all this, I may just write a book on this - after all, I have almost a complete manuscript by now!!

munkypuzzel wrote: »

Hi All,

I opened my one account 2001. Complaint logged with Fos August 2009.

I spoke to my assigned adjudicator this week and he asked about my facilty change/house move. He then confirmed that RBS were initialy rejecting my claim based on the fact that I had recieved facilty changes.

I strongly protested this point and gave my reasons why, and although he was not in a position to make comment, he agreed that I was reasonable in my assumption that moving house/changing facilty should not affect the way that i expect my account (promises) to operate.

Interestingly, he also made reference to 'contact with others on various websites' and i confirmed without giving details that I was in communication with others making a claim. I also reiterated that I was most upset/annoyed about the way RBS have been dealing/worming out of this issue, a sentimet that he confirmed many others were reporting.

Adjudicator also mentioned that they are looking at lots of cases together to see the similarities before making any decisions moving forward.

For anyone that has not taken a complant to the FoS, its not to late if you have been or are currently going throught the virginone 'complaints' procedure.

Watch this space.

musicegbdf

OK have now concluded with RBS., and whilst not as good as a long term settlelement I Have had over £3000 back, so it was worth the fight. Good luck to you all

music

karanda

Thanks for this Music - I am still holding out for a long term settlement but the process is excrutiatingly slow. If you are still viewing this thread, just out of interest did you get a decision from an Adjudictator from the FOS, or did you have to go further up the ladder and have your case reviewed by an Ombudsman?

Well done in any case - as you say, definitely worth the fight.

musicegbdf wrote: »

OK have now concluded with RBS., and whilst not as good as a long term settlelement I Have had over £3000 back, so it was worth the fight. Good luck to you all

music

Saran_2

Still waiting.........

Adjudicator is awaiting response from RBS to his ascertion to them that "facility change" does not wipe out the "promise". Depending on the response it may have to go up to an Ombudsman.

It's our first anniversary of starting this process in January! What should I buy?:rotfl:

musicegbdf

karanda wrote: »

Thanks for this Music - I am still holding out for a long term settlement but the process is excrutiatingly slow. If you are still viewing this thread, just out of interest did you get a decision from an Adjudictator from the FOS, or did you have to go further up the ladder and have your case reviewed by an Ombudsman?

Well done in any case - as you say, definitely worth the fight.

Mine just said "casework advisor" , interestingly the letter from Virgin One starts "in compliance with the decision made by the Financial Ombudsman Service" which I don't think is technically correct , anyway hey ho , good luck to you all carry on the good fight.
Music

kippygirl

Musicgbdf - very pleased for you. Hope the money is actually back in your account now. Still nothing for us.

Saran - happy anniversary! For a first wedding anniversary, the traditional present is paper so hopefully you will soon receive an A4 size piece of paper from the FOS saying that RBS have to repay the money they've stolen from you!

Can't remember when we started our complaint but it was a little bit belated but already been rejected at adjudicator stage and ombudsman reviewing now.

Edit: May 2009 and still not concluded