Interest rates for TheONE Account staying up

karanda

pandjscorpio wrote: »

I have received a settlement offer from RBS agreeing to operate the account as a tracker against the BOE base rate, plus £250 compensation which i have accepted. I had zero documentary evidence so can only assume that it was settled on the basis of evidence supplied by someone else who is a better keeper of records than me. I opened my account in June 2001 and asserted that their sales pitch was as a BOE tracker and that they have breached a verbal contract. This suggests to me that they must be settling claims that relate to a specific period of time, anyone later than June 2001? I have not requested any changes to my facility and i havent moved house in the interim.

Excellent news! Worth fighting for. RBS have confirmed that interest rates on my account will be calculated manually by them in future, which sounds a bit clunky to me - maybe there are not enough of us to make it worthwhile for them to invest in programming their systems!

kippygirl

Great news pandjscorpio! When did you first lodge your complaint? We were a bit slow off the starting blocks but hopefully not much longer before we hear something too.

spence

Well done to all who have got a result.

There seems to be a cut off at 2001 for positive results, I was wondering if there is any point chasing RBS myself as I didn't take out my mortgagr until the summer of 2007?

Me thinks me chances are not so good, the swines!!

pandjscorpio

I received a letter from one account informing me that they would not be reducing their rate in line with the BoE like everyone else on 14 April 2008, i contacted them through the oneaccount email facility the day i got the letter and got a written reply back on 19th April. i was only able to refer my complaint to the ombudsman after oneaccounts final response letter on 15 August. the ombudsman has taken over a year to close this case, i have to hope that they do recognise the existence of precedent for any future referrals. maybe even RBS will settle directly rather than refer if they have conceded on cases so far.

munkypuzzel

I received bad news from Ombudsman today, I opened in Feb 2001 and increased facility twice in the past. The ombudsman has dismissed my case because of the increases and because i apparantly took too long to complain... I left it until early 2009 to make 'official' complaint to the bank..

I will appeal.

kippygirl

munkypuzzel - i have pm'd you. You refer to appealing so am I correct in assuming that this is a decision by the adjudicator? Other cases that have been upheld by the ombudsman were also rejected at adjudicator stage.

Even if the final ombudsman decision went against you, you can still reject that decision and take it to court which is what I am prepared to do if necessary. Given the promises and commitments made to the earlier customers, I'd expect a court to hold them to these.

kippygirl

Still waiting... Some of the mortgages will have been paid off by the time we get a decision. Maybe this is a new delaying tactic by RBS?

Saran_2

I suspect the delay is because the complaints have been grouped. An Ombudsman (after adjudicator turned down complaint) is currently looking at whether the facility change negates the promises. When he has ruled then we will all get letters giving us the good/bad news. Was refered towards end of Feb.

We wait...........

kippygirl

There's no good reason why facility change should enable them to break their promise. That would be completely illogical and wrong. I think FOS have already held anyway (on other cases, Karanda's springs to mind) that past facility changes were irrelevant.

RBS actively encouraged customers to change facilities and there was never any mention of this invalidating all the previous contractual terms (and why would it? that would be madness!)

Hope we do hear soon as could do with some good news here. Patient waiting everyone!

waveneygnome

I received a letter last week from FOS apologising for the delay in reviewing the case.

Case is with the Ombudsman and they are dealing with it as quick as possible.

I phoned FOS to ask what exactly is delaying the case...........they are being delayed in the information exchange with RBS/One Account. Apparently, every time FOS ask a question, it takes weeks to get a response.

Can't be too many more questions to ask.............can there?