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  • FIRST POST
    • thrifty_pete
    • By thrifty_pete 16th Jun 18, 7:02 PM
    • 153Posts
    • 41Thanks
    thrifty_pete
    Punjab International statements
    • #1
    • 16th Jun 18, 7:02 PM
    Punjab International statements 16th Jun 18 at 7:02 PM
    I have a 5 year ISA with Punjab National Bank (International) but I don't get any statements from them. I thought with regulations being modernised, banks had to provide regular statements, or is that just for investment products with opaque charges? It would be reassuring after the alleged $2 billion fraud its parent company have suffered to know my money's safe!

    Pete
Page 1
    • colsten
    • By colsten 16th Jun 18, 7:51 PM
    • 9,108 Posts
    • 7,942 Thanks
    colsten
    • #2
    • 16th Jun 18, 7:51 PM
    • #2
    • 16th Jun 18, 7:51 PM
    A bank statement doesn't secure your money. FSCS protection does.
    • thrifty_pete
    • By thrifty_pete 16th Jun 18, 8:19 PM
    • 153 Posts
    • 41 Thanks
    thrifty_pete
    • #3
    • 16th Jun 18, 8:19 PM
    • #3
    • 16th Jun 18, 8:19 PM
    It's more about the evidence - if their back-office processes are all paper-based then you need to have physical evidence that they had your money and that you didn't withdraw it.
    I'll give them a ring next week. Probably need to be on the phone for an hour, but there you go.
    • thrifty_pete
    • By thrifty_pete 24th Jul 18, 1:48 PM
    • 153 Posts
    • 41 Thanks
    thrifty_pete
    • #4
    • 24th Jul 18, 1:48 PM
    • #4
    • 24th Jul 18, 1:48 PM
    I've been chasing Punjab up - they say the statement was posted weeks ago but I haven't received it. Anyone else had this experience?
    • thrifty_pete
    • By thrifty_pete 10th Aug 18, 12:33 PM
    • 153 Posts
    • 41 Thanks
    thrifty_pete
    • #5
    • 10th Aug 18, 12:33 PM
    • #5
    • 10th Aug 18, 12:33 PM
    After a couple more phone calls it seems they sent the statement to an address I had moved from (and of course informed them in writing of the move) two years ago. It is strange as the records they had when I called them were of the new address, and indeed some correspondence (such as new tax information sharing rules) has been coming to my new address over the course of the last two years.
    It is more !!!!-up over conspiracy, but the service they offer is not very good and this isn't helped by the very manual processes they have. You get the impression they write notes down on post-its and when they get lost, too bad.
    • veryintrigued
    • By veryintrigued 10th Aug 18, 6:35 PM
    • 2,433 Posts
    • 1,891 Thanks
    veryintrigued
    • #6
    • 10th Aug 18, 6:35 PM
    • #6
    • 10th Aug 18, 6:35 PM
    They're the worst bank I've ever dealt with.

    After months of complete ineptitude I highlighted them to the Banking Ombudsman. They were of the opinion that if they want to run a business so unprofessionally then so be it.

    Their lack of decent English and procedures means I won't ever deal with them again.

    Good luck.
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