I recently had exactly the same problem with OnTheBeach's website - went through the selection process for flights, accom, payment etc then at the last minute opened a new tab to check another suggested hotel. Dismissed it as an option - went back to original tab and confirmed payment. Guess which one got booked........ The original tab, howver, does not allow you to go back and check the info you submitted, so there is no way to know you've done this until you get the confirmation, by which time its too late. I learnt a most valuable and expensive lesson, cost me £200 in RyanAir fees, fortunately OTB hadnt booked the hotel and transferred it at no cost. I was going to pursue OTB for the fee's, but if this is a quirk of the internet I will just settle for not booking online ever again! Cheers G.

Hi I havent posted for a while, still watching with interest though. Are you able to comment on bank completed paperwork if its sent to you? Cheers G.

Plenty here..... http://www.consumeractiongroup.co.uk/forum/showthread.php?207948-Barclays-Capital-Rate-swaps.&p=3266529#post3266529 G.

Thanks for that. Employer clearly in wrong. Transpires that last year, the monies owed were only paid after an Employment Tribunal ordered it! HMRC say no NI paid since April, they are going to look into it. Suggested that an enquiry be made to see if this can be dealt with as a continuing part of the original ET decision, or whether a new claim has to start. Alternative employment hopefully on horizon, this being the only real answer to woeking for such a company! Thanks for your help folks, now back to Barclays Rate Swap complaints...... G.

Sounds like a wise choice, who really needs all the c**p if you don't have to! G.

Thanks. Will ask about the P60 Is there a link to info on the unlawful deduction topic, not something I know about yet. Cheers G.

Hello all, I have a relative who is being messed around by an unhelpful employer. Situation thus: Last year, the employer ceased paying some of the staff, on the basis that the company couldnt afford it. This dragged on for many months, staff not required to work, but not made redundant. A fair amount of money was owed to my relative for work already done, so they took the decision to stick with the company rather than seek new employment and resign. Earlier this year, wages started to be paid again, and most of the moneys owed were finally paid, but not all. This month, its started again - no pay for July. My relative has asked the company to make them redundant if they are not going to be paid wages - but the company won't do this. There is now talk of a winding up order by one of the main creditors - but my relative doesnt know if this has happened or not. If there is one, dont the staff have to be told? I doubt that ther company are allowed to act like this, I dont think holiday pay exists etc, and I also understand that wages are currently paid in cash with no pay slips - I've suggested an enquiry to HMRC to see if NI etc is currently being paid. Any thoughts on this appreciated. Regards Grange.

On the facts given, cant see that you've got any hope of constructive dismissal - they've given you a verbal warning for swearing, which they are entitled to do, even if its not written down as a policy. Retract your notice by telling them it was a rash spur of the moment decision and keep your head down for a few weeks, we're in a recession and jobs aren't easy to find, hurt pride is one thing, hurt pride and no job/money is completely different. Good luck. G.

I am aware of several folks who have reached the point of instructing solicitors, and many who have found the fos of no value whatsoever in these complaints, including myself. I am not aware of a single person who has had any redress from any financial institution selling these products, but I would be interested to be told otherwise! Please feel free to pm me if you have had any success - I am aware that where the banks (not a specific one) have come to commercial agreements ie turning the breakage payment into a loan at more attractive margins, there has been a 'no bad publicity' clause inserted, so I understand that folks may not feel inclined to make public posts. As for me, well, looks like our broker is culpable - if your loan was brokered, or organised by an accountant then they may actually be your first port of call, dont discount their involvement and liability. Cheers.

At present all my paperwork is with the FOS still...... My suggestion would be that, given the figures, you make contact with a solicitor competent in these derivatives, at the very least you should get an initial appraisal free of charge - there are two I have spoken to who seem competent, they should spot any flaws. I'm assuming that your turnover/net book value are both over £1m., so the FOS doesnt apply. If you wish I can pm you some contact details, although dont agree to anyone charging for an initial appraisal. Pete

Hi, The FOS criteria is turnover less than £1m, anything above that will result in the bank disputing the FOS right to investigate - after which the FOS will not get involved (its one of the off-shoots of the banks winning their unfair charges claims with the supreme court). I will also add that recently partnerships including limited companies, with a turnover in excess of £1m, but with 2 or more partners, have also been turned down by the FOS - they do not allow the turnover to be divided up in order to qualify as less than £1m. Barnsley..... Your only option will be to contact a solicitor who is experienced in these matters and does not have a conflict of interest. I know of one who will act, pm me for more info, but the cost is obviously high as its a London company. Did you receive back the paperwork I suggested you ask for? Cheers

Hi all, leeby - of course they are 'authorised' under Section 21, it states that only Authorised persons can sell the product. This is nothing to do with Article 19 per se, which covers who they can sell TO. An easy example - a landlord has to hold a personal license to sell alcohol to customers, yet the law says they cannot sell to under 18's. Its no defence to say ' I am licensed, therefore I have done no wrong.' The confirmation they refer to....was this received AFTER the call authorising the swap, if so its a bit late for a disclaimer, it sounds like something that should have been receiver PRIOR to the swap. Mountainman - when they said you had failed the banks loan criteria....was this because of the value of the 'contingent liability' being added in to your LTV ratio? Thats been a common move recently, just more profit taking on their part. In relation to the ISDA Master Agreement: This is a commercial deal, therefore both parties are seen as having the same access to resources. If Barclays refer to a specific ISDA Agreement, then they do not have to provide it, its down to you to source it. Generally, I have not heard of any problems obtaining these from Barclays if you ask for them, to be honest its not really where your complaint will be based - you will be better looking up the FSMA 2000 Financial Promotion Order 2001. This is what Leeby is referring to above. If a rate swap is linked to a repayment loan then the swap should be written as reducing in line with the loan, otherwise you have an 'overhang'. Thats fine in theory, but I am of the opinion that some salesmen simply made the plans up as they went along. Regards Grange

You can ask them for paperwork, in particular: A copy of your Mandate Instruction 9shows who can sign for the company). A copy of the Agreement for Private Clients relating to derivative trades. (Thi must be signed in accordance with your mandate.) A copy of Schedule 1 to the above Agreement, this is called a warrants & Derivatives Warning Notice, and must be signed by each party to the trade (as opposed to the Mandate, which can be sole signatory). You also need to check that their presentation with attached disclaimers was sent to you prior to the transaction taking place - it normally looks like a powerpoint presentation. That should get you started. Regards

No, they wont send you anything under the data protection act as it only relates to living persons. What date was the rate swap executed?

I am currently awaiting direction from the FOS - as soon as this is back I will try to offer whatever advice I can. In the meantime.... If you are a sole trader/partnership then submit a data protection act request for all data the bank holds on you (for all your accounts with them). This will take a few weeks, hopefully we will have had a response by then! Cheers

Hi all, Hope to have some direction from the FOS on 3 key complaints within the immediate future. If we have any level of sucess, I have been offered the free services of an 'organic marketing company' who have also been shafted by Barclays. They use facebook, twitter, bebo etc to gain maximum exposure, then turn this into a press feature ie a story entitled 'bank treats customers unfairly' probably wont attract much attention, but a story entitled '75,000 bank customers join online protest' would get into the papers as a story in its own right. Social marketing, apparently. Will keep updated when I have progress to report. Regards.

Hi all, Just need to clarify some detail on Barclays compliance forms. Up to November 2007 the forms you need to look for are as mentioned, Agreement for Private Clients & Warrants and Derivatives Warning Notice. From 1 November 2007 there was a change in regs. and the forms were consolidated into the Agreement for Retail Customers, so make sure you are looking for the right forms in relation to your swap date. I am of the belief that the Agreement for Private Clients & Agreement for retial Customers, must both be signed in accordance with the composite mandate, althought he wording on the latter suggests that even if you dont sign it you are deemed to understand it and are bound by its terms. One for the FOS to decide on there, methinks. The warrants and Derivatives Warning Notice clearly states to be signed by all parties to the trade, counter to Barclays view that again it can signed in accordance with the Mandate. Cheers

Info updated.

Info updated.

I spoke to the Information Commissioners advice line today. Sole Traders and Partnerships can obtain info under the Data Protection Act, but limited companies cannot. This leaves limited companies at a disadvantage, however, its not insurmountable, you can still write to Barclays Capital and ask then for copies of documents they hold, but you cannot compel them to supply them at this stage.

Over the Counter is a banking type term for these products and how they are sold, dont worry unduly about it. Confirmation document links in to an ISDA Master Agreement - does it say which edition (by year)? Cheers Pete

Info updated.

Slightly off topic, but we've 3200 plus views on this thread, and we are currently ranked 1st,2nd,4th & 5th on Google for the search term 'Barclays Capital Rate Swaps'. Pete.

Edited as info out of date.

Edited as info out of date.