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reclaiming bank charges denied
paddyz
Posts: 175 Forumite
Hello
I used a company to help claim for bank charges as I'm fairly useless at doing these things myself, i basically had a RBS royalties account in 1996, it was converted to gold in 1999, converted to premier in 2006, then converted to gold in 2010 and migrated to platinum in 2015.
All this was done over the phone apart from the last one and on advice from the bank to give me better loan rate and benefits ( i didn't need these) , twice arranged with the bank manager each time i agreed as they said it was beneficial to me, anyway id recently seen that people were now claiming this back so thought id have see if i could get this back and the company sent of a claim for me.
The bank did have a look and gave my previous loans a check and have admitted they did fail to give me the correct rates on 6 of my bank loans over the years, they have given me a refund back for the interest but as per usual the company that i engaged have requested payment, so Ive basically lost half of it
No issue with the bank charge reclaim company as they was upfront about fees but im thinking about writing to the banking Ombudsman to complain as i was never offered a free bank account, just these packaged ones and didn't get the special rates promised i trusted the bank like many of us do and have paid quite a lot of money over the years for this and would like to get it back
I used a company to help claim for bank charges as I'm fairly useless at doing these things myself, i basically had a RBS royalties account in 1996, it was converted to gold in 1999, converted to premier in 2006, then converted to gold in 2010 and migrated to platinum in 2015.
All this was done over the phone apart from the last one and on advice from the bank to give me better loan rate and benefits ( i didn't need these) , twice arranged with the bank manager each time i agreed as they said it was beneficial to me, anyway id recently seen that people were now claiming this back so thought id have see if i could get this back and the company sent of a claim for me.
The bank did have a look and gave my previous loans a check and have admitted they did fail to give me the correct rates on 6 of my bank loans over the years, they have given me a refund back for the interest but as per usual the company that i engaged have requested payment, so Ive basically lost half of it
No issue with the bank charge reclaim company as they was upfront about fees but im thinking about writing to the banking Ombudsman to complain as i was never offered a free bank account, just these packaged ones and didn't get the special rates promised i trusted the bank like many of us do and have paid quite a lot of money over the years for this and would like to get it back
Mortgage start Oct 12 £104,500
current May 20 -£56,290_£52,067
term 9 years aiming on being mortgage free by 7
Weight Up & down 14st 7lb
current May 20 -£56,290_£52,067
term 9 years aiming on being mortgage free by 7
Weight Up & down 14st 7lb
0
Comments
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Did you actually apply for a free account? If not, the only person responsible is yourself.im thinking about writing to the banking Ombudsman to complain as i was never offered a free bank account, just these packaged ones
The Ombudsman won't uphold a complaint that you weren't offered a free account, but it might be different if the Bank actually declined your application for one.
Just like paying a huge wedge to your Claim Company, you have to take the blame for this too.0 -
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I used a company to help claim for bank charges as I'm fairly useless at doing these things myself, i basically had a RBS royalties account in 1996, it was converted to gold in 1999, converted to premier in 2006, then converted to gold in 2010 and migrated to platinum in 2015.
That repeated upgrading of accounts works against any complaint.No issue with the bank charge reclaim company as they was upfront about fees
it is good they were upfront and told you that you didnt have much chance given your upgrade history.but im thinking about writing to the banking Ombudsman to complain as i was never offered a free bank account, just these packaged ones and didn't get the special rates promised i trusted the bank like many of us do and have paid quite a lot of money over the years for this and would like to get it back
Its worth noting that the FOS only overturn around 13% of PBA complaint rejections. Your repeated changing indicates you were aware that it was optional. it also allows them to time bar any of the earlier PBA charges except the platinum in 2015.
You havent said why they rejected your complaint. So, what was it. (it will help us understand if you have a chance or not).I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thank you to everyone that has replied
The final decision was they agreed with part of the complaint regarding the interest rates and they paid up, but they did not agree about the various accounts as it was outwith the time frames for each change of account package, last upgrade was 2010Mortgage start Oct 12 £104,500
current May 20 -£56,290_£52,067
term 9 years aiming on being mortgage free by 7
Weight Up & down 14st 7lb0 -
Thank you to everyone that has replied
The final decision was they agreed with part of the complaint regarding the interest rates and they paid up, but they did not agree about the various accounts as it was outwith the time frames for each change of account package, last upgrade was 2010
Just as I said it would be. Did your claims company tell that was likely too or did they not bother?
Timebars are set by the FCA. You have to complain within 3 years of being reasonably aware of an issue. Changing account starts that 3 year clock. The FOS will not overturn a correct timebar.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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