Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • MSE Callum
    • By MSE Callum 5th Jun 18, 3:39 PM
    • 527Posts
    • 184Thanks
    MSE Callum
    MSE News: Martin Lewis hands MPs list of key questions TSB must answer
    • #1
    • 5th Jun 18, 3:39 PM
    MSE News: Martin Lewis hands MPs list of key questions TSB must answer 5th Jun 18 at 3:39 PM
    MoneySavingExpert.com founder Martin Lewis has written to the chair of the Treasury Committee Nicky Morgan with a list of key facts we believe TSB should make public, ahead of the bank's appearance in front of the committee on Wednesday...
    Read the full story:
    'Martin Lewis hands MPs list of key questions TSB must answer'

    Click reply below to discuss. If you havenít already, join the forum to reply.
    Read the latest MSE News
    Flag up a news story: news@moneysavingexpert.com
    Get the Free MoneySavingExpert Money Tips E-mail
Page 1
    • KTF
    • By KTF 5th Jun 18, 3:50 PM
    • 4,725 Posts
    • 1,939 Thanks
    KTF
    • #2
    • 5th Jun 18, 3:50 PM
    • #2
    • 5th Jun 18, 3:50 PM
    I see 'compo' was diplomatically put as #4 rather than #1 but why the expectation that TSB should pay out to everyone?


    For example the DD for my TSB credit card was not taken. Without asking the interest was refunded and they sent me a letter explaining what had happened.


    Did I suffer loss (no), was I inconvenienced (no, although the culture would say yes) so why the demand for compensation?


    The people who have lost money to scammers only have themselves to blame but its always someone elses fault...
    • hangonthebox
    • By hangonthebox 5th Jun 18, 3:54 PM
    • 20 Posts
    • 12 Thanks
    hangonthebox
    • #3
    • 5th Jun 18, 3:54 PM
    • #3
    • 5th Jun 18, 3:54 PM
    I see 'compo' was diplomatically put as #4 rather than #1 but why the expectation that TSB should pay out to everyone?


    For example the DD for my TSB credit card was not taken. Without asking the interest was refunded and they sent me a letter explaining what had happened.


    Did I suffer loss (no), was I inconvenienced (no, although the culture would say yes) so why the demand for compensation?


    The people who have lost money to scammers only have themselves to blame but its always someone elses fault...
    Originally posted by KTF
    That's the way it goes these days. Mock outrage, hand-wringing and people always looking for a payout.

    Obviously people who have suffered losses and major inconvenience should be fairly compensated. But I'm in a similar position to you (my bills account is with TSB) and it didn't really affect me apart from having to make one telephone call when the site was down. No big deal, no payout needed or wanted.
    • eskbanker
    • By eskbanker 5th Jun 18, 4:07 PM
    • 10,132 Posts
    • 12,239 Thanks
    eskbanker
    • #4
    • 5th Jun 18, 4:07 PM
    • #4
    • 5th Jun 18, 4:07 PM
    Since the select committee managed to find 156 probing questions to ask at TSB's appearance before them last month (as per transcript here), which unsurprisingly are a superset of this short list of the bleedin' obvious, this simply smacks of being another "look at me" Martin Lewis publicity stunt....

    Did he really think that without his intervention they'd fail to ask when the problems will be fully fixed, and to push further if a date isn't forthcoming?
    • colsten
    • By colsten 5th Jun 18, 5:03 PM
    • 10,291 Posts
    • 9,480 Thanks
    colsten
    • #5
    • 5th Jun 18, 5:03 PM
    • #5
    • 5th Jun 18, 5:03 PM
    I see 'compo' was diplomatically put as #4 rather than #1 but why the expectation that TSB should pay out to everyone?
    Originally posted by KTF
    mchambers......
    • Herbalus
    • By Herbalus 5th Jun 18, 5:07 PM
    • 2,306 Posts
    • 2,005 Thanks
    Herbalus
    • #6
    • 5th Jun 18, 5:07 PM
    • #6
    • 5th Jun 18, 5:07 PM
    There is not the remotest hope that these questions will be answered. Not even sure that these are in the public interest - what does the public gain by learning how many have switched away?

    And #4 is just daft. TSB will not advise minimum compensation because compensation depends entirely on the circumstance and amount of inconvenience caused, hence why it is a case-by-case basis.
    • where are we
    • By where are we 5th Jun 18, 6:36 PM
    • 258 Posts
    • 75 Thanks
    where are we
    • #7
    • 5th Jun 18, 6:36 PM
    • #7
    • 5th Jun 18, 6:36 PM
    Thanks "KTF" - "The people who have lost money to scammers only have themselves to blame but its always someone elses fault...". So you can catagorically say that ALL people who have lost money to scammers only have themselves to blame. Recently I have been the victim of Sim-Swap and subsequent emptying of my TSB accounts. I do not click on emails, give information to callers, reply to texts and I shred my mail, have strong different passwords, use text alerts, use antivirus software etc but this did not prevent me being scammed. Some Mobile phone companies and some banks have inadequate security systems in place. I hope it never happens to you.
    • badmemory
    • By badmemory 5th Jun 18, 6:46 PM
    • 2,513 Posts
    • 3,954 Thanks
    badmemory
    • #8
    • 5th Jun 18, 6:46 PM
    • #8
    • 5th Jun 18, 6:46 PM
    Whilst I am sure many enjoy blaming the victims - how many of them would have been victims without the disaster caused by this spanish bank?
    • agrinnall
    • By agrinnall 5th Jun 18, 8:00 PM
    • 22,627 Posts
    • 18,623 Thanks
    agrinnall
    • #9
    • 5th Jun 18, 8:00 PM
    • #9
    • 5th Jun 18, 8:00 PM
    I wasn't inconvenienced at all by TSB's problems but I'm already being compensated by receiving extra interest on my Classic Plus account every month. there was no need for them to pay that, and I wouldn't expect to get anything else.
    • Ashen
    • By Ashen 5th Jun 18, 8:09 PM
    • 504 Posts
    • 389 Thanks
    Ashen
    There is not the remotest hope that these questions will be answered. Not even sure that these are in the public interest - what does the public gain by learning how many have switched away?

    And #4 is just daft. TSB will not advise minimum compensation because compensation depends entirely on the circumstance and amount of inconvenience caused, hence why it is a case-by-case basis.
    Originally posted by Herbalus
    Agreed. I'd say that several of them are daft. The first question - asking how many people were affected, and how many still have problems is absolutely meaningless as a figure without context of how serious, or if it actually has had an impact on the customer.

    MSE describing those questions as "essential information" is just self-indulgent nonsense.
    • poppy10
    • By poppy10 5th Jun 18, 10:05 PM
    • 6,164 Posts
    • 7,463 Thanks
    poppy10
    For example the DD for my TSB credit card was not taken. Without asking the interest was refunded and they sent me a letter explaining what had happened.
    Originally posted by KTF
    Has this been marked as a missed payment on your credit reports?
    • newatc
    • By newatc 5th Jun 18, 10:13 PM
    • 401 Posts
    • 478 Thanks
    newatc
    I wasn't inconvenienced at all by TSB's problems but I'm already being compensated by receiving extra interest on my Classic Plus account every month. there was no need for them to pay that, and I wouldn't expect to get anything else.
    Originally posted by agrinnall

    This is not compensation, it is a commercial action to limit the closing of TSB accounts. One of their better moves in the last month.
    • newatc
    • By newatc 5th Jun 18, 10:17 PM
    • 401 Posts
    • 478 Thanks
    newatc
    Thanks "KTF" - "The people who have lost money to scammers only have themselves to blame but its always someone elses fault...". So you can catagorically say that ALL people who have lost money to scammers only have themselves to blame. Recently I have been the victim of Sim-Swap and subsequent emptying of my TSB accounts. I do not click on emails, give information to callers, reply to texts and I shred my mail, have strong different passwords, use text alerts, use antivirus software etc but this did not prevent me being scammed. Some Mobile phone companies and some banks have inadequate security systems in place. I hope it never happens to you.
    Originally posted by where are we

    How worrying. Hope it turns out OK for you. Do you have any idea why you were targetted?
    • realaledrinker
    • By realaledrinker 6th Jun 18, 12:21 AM
    • 1,610 Posts
    • 561 Thanks
    realaledrinker
    Many of these questions are valid, some are highly sensitive and could only hasten the company's liquidation, e.g. how many customers have you lost etc. Is that you intention MSE?
    Ethical moneysaver
    • bournefree
    • By bournefree 6th Jun 18, 2:43 AM
    • 118 Posts
    • 297 Thanks
    bournefree
    The issues that TSB has encountered are the same that will be encountered by all banks with legacy systems in due course. Hopefully they will share what they learn from this in order to make all systems more secure in the future. One thing that we as customers have learned is not to have all your eggs in one basket, and to have accounts with more than one bank. Another is to check your accounts on a regular basis to make sure they are set up correctly as you want.
    MFW #59 2017 target met, now mortgage free!
    • KTF
    • By KTF 6th Jun 18, 5:26 AM
    • 4,725 Posts
    • 1,939 Thanks
    KTF
    Has this been marked as a missed payment on your credit reports?
    Originally posted by poppy10
    Experian is showing a score of 999 and nothing out the ordinary showing on clearscore.

    The letter TSB sent said the credit score wouldnít be impacted but will check again next month.
    • agrinnall
    • By agrinnall 6th Jun 18, 7:52 AM
    • 22,627 Posts
    • 18,623 Thanks
    agrinnall
    This is not compensation, it is a commercial action to limit the closing of TSB accounts. One of their better moves in the last month.
    Originally posted by newatc

    Well I had no intention of closing my account so I'm getting something for nothing, whether you call it compensation or not.
    • spadoosh
    • By spadoosh 6th Jun 18, 8:24 AM
    • 6,676 Posts
    • 9,606 Thanks
    spadoosh
    Its funny, i didnt see Martin Lewis with a list of questions that must be answered when the MSE forums where having technical difficulties a few months ago. Pretty sure we where only informed of what happened after they had worked out what happened and corrected it. Also sure lots of questions remained unanswered.

    Martin Lewis, you have a responsibility as a journalist. So ive got some questions for you.

    What do you think will happen by creating a hysteria around TSB and their recent issues?

    Why are you reporting every TSB problem story whilst also missing out on other problems that are being reported about other banks? (in specific relation to the admin errors that led to a dead person getting an account opened at TSB, seems pretty similar to that band that are having issues with paying bills due to a RBS mistake, theres other examples too from more or less all banks.)

    And finally the most important question. How much will MSE be compensating me for being the site that recommended i switch bank account and offered a TSB referral link that i went through? Im assuming you will be refunding the fees received for the referral link at least?
    Don't be angry!
    • Mchambers
    • By Mchambers 6th Jun 18, 8:28 AM
    • 988 Posts
    • 309 Thanks
    Mchambers
    Its funny, i didnt see Martin Lewis with a list of questions that must be answered when the MSE forums where having technical difficulties a few months ago. Pretty sure we where only informed of what happened after they had worked out what happened and corrected it. Also sure lots of questions remained unanswered.

    Martin Lewis, you have a responsibility as a journalist. So ive got some questions for you.

    What do you think will happen by creating a hysteria around TSB and their recent issues?

    Why are you reporting every TSB problem story whilst also missing out on other problems that are being reported about other banks? (in specific relation to the admin errors that led to a dead person getting an account opened at TSB, seems pretty similar to that band that are having issues with paying bills due to a RBS mistake, theres other examples too from more or less all banks.)

    And finally the most important question. How much will MSE be compensating me for being the site that recommended i switch bank account and offered a TSB referral link that i went through? Im assuming you will be refunding the fees received for the referral link at least?
    Originally posted by spadoosh
    Who cares and is bothered ? Not me.
    • redux
    • By redux 6th Jun 18, 9:00 AM
    • 19,121 Posts
    • 26,032 Thanks
    redux
    How many people have switched their accounts away, Martin asks.

    This is nearer to a taunt than something Parliament needs to know. Perhaps he could arrange to stand up at a Sabadell shareholders' AGM and ask this one.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

108Posts Today

1,620Users online

Martin's Twitter
  • This is a very useful and interesting, factual piece about what the PM's new Brexit proposals mean and how new they? https://t.co/qM1bCz6FZp

  • After two cancellations, I'm on the 3rd train back from Manch. Just heard its being rerouted as someone's taken tak? https://t.co/sRO4cvoWIw

  • RT @helen_undy: It's hard campaigning at the moment. Trying to cut through amid Brexit votes, protests & political resignations can feel fu?

  • Follow Martin