When Banks don't Act on FOS Findings

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  • eskbanker
    eskbanker Posts: 31,076 Forumite
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    That's good news on the interest but once again annoying to be pressured by the adjudicator to accept a 'final' proposal that's then overruled (in your favour) by her manager.

    I would definitely be tempted to wait until the money actually arrives and then compose a lengthy complaint about the adjudicator's handling of the case, not with a view to getting any more compensation out of it but simply to highlight the many failings with how she's dealt with this, so that appropriate actions (disciplinary, retraining, procedure tweaks, etc, as applicable) can be taken by the management....
  • Cotta
    Cotta Posts: 3,667 Forumite
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    It's certainly been worthwhile having her Manager cast an eye over things.
  • JGUK
    JGUK Posts: 222 Forumite
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    I would want to push this off to an Ombudsman, not entirely sure why they are not doing this.

    I wonder if perhaps she is in a special TSB-only related department that has been drafted in to help deal with the influx of cases against the bank?

    The only time I had a case with the FOS the adjudicator offered an ombudsman relatively quickly into the proceedings when he realised the bank were not playing ball, on threat of getting an ombudsman involved (which I understand triggers another charge for them) they then decided to action my requests almost immediately and it all got closed off rather quickly.

    I'm in disbelief that this adjudicator you have has point blank refused to escalate the matter over 4/5 times now.

    Just editing to add that in my case it really did feel the adjudicator was at the very least initially impartial and when the bank in question started giving him the run around he very quickly started to empathise with me more and more about my case and offered ways to solve it. In yours it seems the exact opposite, which is quite concerning!
    Thanks
    JG
  • pmduk
    pmduk Posts: 10,655 Forumite
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    It seems Cotta has been dealing with a TSB apologist rather than an adjudicator, much to the shame of the FOS.
  • Cotta
    Cotta Posts: 3,667 Forumite
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    Looks like it should be today - I have accepted the below:


    Dear Cotta,

    Happy Monday!

    We really need to get your long running case closed off today. I am reverting to TSB today for interest on the balance up to £1500 (there will be nothing paid on holdings above this amount).

    There will be nothing further paid than £500 in compensation.

    Please advise if you are in agreement and hopefully if TSB are satisfied this will be completed today.

    Regards
    FOS
  • eskbanker
    eskbanker Posts: 31,076 Forumite
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    Wouldn't it have been refreshing if the tone of the message was more along the lines of:

    Dear Mr Cotta,

    I'm hoping that it'll be possible to resolve this long-running saga for you shortly and will advise TSB that in order to do so they must include the previously-promised missing interest on the £1500, on top of the additional £500 compensation that's been provisionally agreed last week.

    I will let you know once we are in a position to confirm this....

    Regards,

    FOS
  • Cotta
    Cotta Posts: 3,667 Forumite
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    I'm at the point now whereby she can say what she wants to me as long as we can get this closed off. It's been a marathon!!
  • masonic
    masonic Posts: 23,278 Forumite
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    I think her optimism is unwarranted. TSB has agreed to things in the past and reneged at the 11th hour.
  • Cotta
    Cotta Posts: 3,667 Forumite
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    Unlikely to be resolved today, TSB are still trying to decide a figure on the interest but issued the below through the adjudicator.


    Dear Cotta,

    Unfortunately TSB are still trying to work out the interest you are owed on the £1500 within your account. Our job is to ensure you are on the same footing as you would have been had this issue with TSB not occurred therefore we have advised TSB and they have agreed that you won't be getting interest on the amount above £1500 as within your T&Cs this was the maximum rate they are paying interest on.

    I will update you when more is know.

    Regards
    FOS
  • masonic
    masonic Posts: 23,278 Forumite
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    They surely know the formula for calculating interest. There are just 3 variables: interest rate, balance and number of days; two are fixed so I guess they can't work out how many days interest you are entitled to receive.
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