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  • FIRST POST
    • paddyz
    • By paddyz 8th Feb 18, 7:12 PM
    • 75Posts
    • 536Thanks
    paddyz
    reclaiming bank charges denied
    • #1
    • 8th Feb 18, 7:12 PM
    reclaiming bank charges denied 8th Feb 18 at 7:12 PM
    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
    Mortgage start 104,500
    current Feb 2018 70,319
    term 10 years
    Weight 07.01.17 14st 7lb 14.06.17 11st 9lb big jump 13st.8lb
Page 1
    • Moneyineptitude
    • By Moneyineptitude 8th Feb 18, 7:19 PM
    • 20,156 Posts
    • 11,098 Thanks
    Moneyineptitude
    • #2
    • 8th Feb 18, 7:19 PM
    • #2
    • 8th Feb 18, 7:19 PM
    im thinking about writing to the banking Ombudsman to complain as i was never offered a free bank account, just these packaged ones
    Originally posted by paddyz
    Did you actually apply for a free account? If not, the only person responsible is yourself.

    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.
    • zx81
    • By zx81 8th Feb 18, 7:22 PM
    • 16,832 Posts
    • 17,838 Thanks
    zx81
    • #3
    • 8th Feb 18, 7:22 PM
    • #3
    • 8th Feb 18, 7:22 PM
    didn't get the special rates promised
    Originally posted by paddyz
    You did, as you said they refunded the additional interest.
    • dunstonh
    • By dunstonh 8th Feb 18, 7:25 PM
    • 92,634 Posts
    • 59,945 Thanks
    dunstonh
    • #4
    • 8th Feb 18, 7:25 PM
    • #4
    • 8th Feb 18, 7:25 PM
    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). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • paddyz
    • By paddyz 8th Feb 18, 8:35 PM
    • 75 Posts
    • 536 Thanks
    paddyz
    • #5
    • 8th Feb 18, 8:35 PM
    • #5
    • 8th Feb 18, 8:35 PM
    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
    Mortgage start 104,500
    current Feb 2018 70,319
    term 10 years
    Weight 07.01.17 14st 7lb 14.06.17 11st 9lb big jump 13st.8lb
    • dunstonh
    • By dunstonh 9th Feb 18, 12:17 AM
    • 92,634 Posts
    • 59,945 Thanks
    dunstonh
    • #6
    • 9th Feb 18, 12:17 AM
    • #6
    • 9th Feb 18, 12:17 AM
    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
    Originally posted by paddyz
    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). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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