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Parcel delivery insurance is prohibited under section 57 – Consumer Rights Act – Read about It Here and in The Times.

Klandestine

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Everything posted by Klandestine

  1. Klandestine
    Clearly a typo by Wescot though. It's pretty obvious that declined should read decided. The FOS provide a simple summary of the issue: http://www.financial-ombudsman.org.uk/faq/bank-charges.html The Supreme Court press summary is a bit more detailed but should still be understandable to majority: http://www.supremecourt.uk/decided-cases/docs/UKSC_2009_0070_PressSummary.pdf
  2. Klandestine
    That's rubbish really. Tesco has the largest supermarket share. They cater for more than "those with not a lot". The account is clearly aimed at those with a monthly income of at least £750. It's a bit ridiculous to even claim that it's their intention to trap "those with not a lot". Anyway, contrary to the opinions on this forum, banks don't want you to live in your overdraft. Overdrafts are meant for short term borrowing of relatively small amounts. A customer that lives in their overdraft presents a huge risk to the bank in that there is a good chance they won't be able to pay the bank back. I don't get charged anything by any of my banks (as long as I'm in credit). Yet I benefit from convenience, security, detailed records, some form of purchase protection etc. which I wouldn't get if I only dealt with cash. Consumers do also benefit from Direct Debits too. For example, my credit card statements get paid in full without me having to deal with anything. If I made manual payments but one month I forgot to pay my bill I would be hit with a late payment charge. It seems to cater for the majority though.
  3. Klandestine
    This sounds like a money management issue for than anything. This probably isn't the case. It's more likely due to the fact that card transactions don't debit your account (i.e. affect your account balance) immediately. This only happens when the different organisations involved settle up. In the meantime the amount is USUALLY reserved (affecting your available balance). But this is up to the retailer and they won't always do it for smaller transactions. Ultimately you are responsible for the spending on your card and you do need to keep track of that. I know some people who when money is tight keep a written log of their card purchases so that they know for definite how much money they have. What do you mean by "pre-authorised" in reference to your Maestro card by the way?
  4. Klandestine
    Fair enough but let's be honest this account isn't even aimed at some of those groups of people you just mentioned. That's the purpose of the deposit requirement/fee waiver.
  5. Klandestine
    If you don't have income of less than £750 per month (i.e. a take home salary of £9000) then maybe this account isn't for you. The majority of working people earn more than that though. However, you can work around the monthly deposit requirement by transferring money into the account and then transferring it straight out again. Can be done in less than 5 minutes online. Unarranged overdrafts usually are expensive (for a reason too). But they can easily be avoided by not going overdrawn. I would be very surprised if Tesco wasn't trying to make money. But that doesn't mean people can't benefit from the account. You sound as though you have a huge chip on your shoulder. You can make your banking work in your favour you know. If you want some advice about that feel free to post a thread.
  6. Klandestine
    Please explain how? That link from the FOS which you posted clearly states that: "If you are in genuine financial hardship, this does not affect the legality of the charges. But it is relevant to how your bank or building society treats the amount you owe" The FOS expects them to "deal positively and sympathetically with a consumer in financial hardship". This does NOT necessarily mean refunding charges.
  7. Klandestine
    BankFodder, CIFAS is an external organisation that maintains a database of fraudsters and incidents relating to fraud. What have they got to do with this issue? Anyway. It's not unusual for international payments to take longer than 12 working days. It depends on the route the money takes. Did you pay Natwest for an Urgent Transfer?
  8. Klandestine
    REALLY? It doesn't seem like a bad deal to me... It has a reasonable monthly deposit requirement (but there are easy ways to circumvent this anyway). There are other interest-paying current accounts which might be better options (TSB Classic Plus, Club Lloyds, Santander 123 etc) but this account offers an easy 3% interest on £3000. And you earn extra Clubcard points when you spend. The overdraft (both arranged and unarranged) actually seems quite simple and competitive. Arranged overdrafts only accrue 18.9% EAR and there are no fees. The same 18.9% EAR applies to unarranged overdrafts but there is also a £5 charge for paid or unpaid items (up to a monthly maximum of £50). I wouldn't even say that banking with them would be "risky". They are regulated in the same way as the mainstream banks. They are covered by the Financial Services Compensation Scheme (FSCS). Current accounts may be a new area for Tesco Bank but they're hardly a newcomer to the world of retail banking (i.e. savings accounts, credit cards, loans etc.)
  9. Klandestine
    It's not contradictory at all. The bank is not at all obliged to refund charges if you are experiencing financial hardship. There are also other ways of dealing with the problem. They also only need to take into account CURRENT financial hardship. So trying to get historic charges refunded on this basis is unlikely to be successful.
  10. Klandestine
    There's nothing illogical about it. You may well have a sound history of managing credit but you also need to be able to afford the repayments of any new loan taken out. The bank is not obliged to lend to you so I think you may be wasting your time in going to the Ombudsman. They should have underwriters for manually-assessed decisions. So if the loan is refused at first you could get in touch with them.
  11. Klandestine
    They are required to publish them under the Financial Services and Markets Act 2000 (as amended by Schedule 11 of the Financial Services Act 2012). What other options? You can still take court action. (Somebody with more experience will probably be able to give a better answer) Nope, just doing his job. These customer service questions/surveys/ratings at pretty common with all kinds of organisations these days.
  12. Klandestine
    I'm afraid I don't have any advice about getting charges refunded. For the cash deposit charges, surely you mean 90p for every £100 and NOT £90 for every £100. Some providers charge more than that, others charge less. Definitely shop around when looking for a new bank. You may find this comparison tool useful: http://bba.moneyfacts.co.uk/default.aspx
  13. Klandestine
    What number did you call? If you spoke to normal customer services then they won't be able to see the details of a closed card.
  14. Klandestine
    I don't think anyone here has that opinion. Billions of pounds weren't just written off. The government lent the banks money and also bought shares in Lloyds and RBS. Reporting a minimum amount does seem like a sensible idea but how much is a "small sum" and where do you draw the line? I agree that HSBC should be able to show some leeway but at the end of the day you want their money so you'll have to jump through their hoops.
  15. Klandestine
    Hi christim01 I appreciate that this is quite a distressing time for you and your wife but try not to get carried away and let the emotion of it get in the way of the facts. The problem here isn't consolidation loans themselves. Such loans can actually help customers because they: Pay off existing debts (e.g. a credit card, loan, overdraft) and make things easier to manager because now only 1 loan has to be paid, monthly payment are fixed & there is a specific end date for the debt And hopefully reduce your monthly expenditure because the loan is at a better rate than the existing debts The Lending Code actually encourages banks to talk to customers about restructuring existing borrowing into a loan because of these reasons. Please correct me if I've misunderstood something, but from the information you have given I understand that: Your complaint is that they: Didn't fully take into account your wife's affordability for the loan. And then they didn't actually use the loan to pay off existing Lloyds group debts enough this was in the agreement. It sounds as though they have admitted to both aspects of your complaint. And they have offered to refund the interest which was charged but understandably you are not happy with this. Now you have asked the Financial Ombudsman Service to look at your complaint. How far along in the process is this?
  16. Klandestine
    Has this company actually taken any money yet? The first thing to do is to withdraw your consent to any payments to this company. I would do this by writing a letter. If any payments do manage to go through then the bank does have to refund the payment (including any charges you may have incurred as a result). (If you are interested the relevant laws covering this are the Payment Services Regulations).
  17. Klandestine
    The variation in price isn't significant at all. It's just negotiation and lots of businesses work like this (although negotiation is more common in B2B sales).
  18. Klandestine
    Now that the CIFAS marker has been removed, Barclays are not responsible if you are still not able to open a bank account elsewhere. Banks will have additional criteria which takes into account more than just not being listed on the CIFAS Fraud Database. For example, some people get turned away because of a LACK of a credit history, being associated with certain countries etc. I would suggest that you do go further with your complaint. I think the current offer of £300 is more than reasonable for the stress and inconvenience. But, like citizenB, I would also try and estimate your actual costs and then suggest to whoever is dealing with your case at the FOS that this figure is taken into account.
  19. Klandestine
    After Barclays closed your account (and whilst the CIFAS marker was still there) which bank did you try to open another account with? After the CIFAS marker was removed which bank did you try to open another account with? Now that the CIFAS marker has been removed you can't hold Barclays responsible if another bank will not give you a bank account. I think £300 is more than reasonable for the distress and inconvenience. If you feel as though they should be covering the cost of phone calls etc. then first of all it would be helpful to detail these costs and calculate a figure. When the FOS spoke to you about this, you had no idea of how much "compensation" you were after - they can't read your mind so it looks as though they've had to guess what you might find reasonable.
  20. Klandestine
    BCOBS and penalty charges being unlawful are separate issues. But anyway, under BCOBS how are bank charges unlawful if somebody is claiming benefits? And how would you go about arguing that in court? Also where does the FCA suggest that penalty charges are unlawful? That's very interesting information about these numerous successful cases though. Do you have any specific links dx? - it would be informative to me and I think really helpful for the OP.
  21. Klandestine
    The fact that you were claiming benefits doesn't make the charges unlawful. I'd also be weary of what dx100uk is saying about penalty charges being unlawful too. You'd be talking about court action and I can't say that I have seen any recent successful cases (although I haven't been actively looking for such information either). If the account was still overdrawn, the only route I could have seen working was if you were experiencing current financial difficulty and you asked Nationwide to positively assess your affordability. I'm a little bit confused by these two (seemingly) conflicting statements? At the end of the day, it was your mistake and you may be short on some holiday money now but one positive result is that this debt has been paid off and you no longer need to worry about it.
  22. Klandestine
    There isn't really an answer to your question and it depends on what you mean by "going under". If it gets to the point where bank accounts are not operational then payments (including DDs & SOs) cannot be made. It is easy enough to switch over direct debits yourself by advising the companies concerned of your bank details.
  23. Klandestine
    There may well be a cashflow issue at the moment. However, it's likely that the risk of business closing and people losing their jobs at the moment isn't really that much of a risk for now - I think you're jumping the gun a bit. I have (hopefully) explained that if it all checks out as above board then the money should be allowed to be returned after 7 working days. There really isn't an alternative to waiting. I have no additional advice other than what I said about avoiding such issues in the future.
  24. Klandestine
    Well Barclays cannot release the money until the NCA gives their authorisation. Do you have any other suggestions for the OP? The only helpful suggestion I can make is one for the future - have accounts with more thank one bank so you are not restricted if something goes wrong at one of them (e.g. like in this case where money is being held, or as we have seen recently where the banks are affected by downtime). Of course BankFodder can have his/her opinion - I didn't say otherwise. I was just confused about why he/she was suggesting for the OP to contact the FOS in an earlier post but then doubting the effectiveness of the FOS in a subsequent post. I'm not quite sure whether that is actually a logical conclusion. The FOS is funded by case fees when they become involved in complaints between consumers and financial institutions. And it is the consumer who has to get the FOS involved, not the financial institution. According to statistics, the FOS is actually slightly biased towards consumers.
  25. Klandestine
    The Barclays office at Westwood Business Park in Coventry is home to their Financial Crime Operations. It is important to understand that the money is most likely being held because anti-money laundering & terrorism financing checks by the National Crime Agency (NCA) and NOT Barclays. Under Part 7 of the Proceeds of Crime Act (POCA), any transactions on the account/accounts in question cannot take place without the consent of the NCA. The NCA has 7 working days to reach a decision or if the bank hears nothing after 7 working days everything can continue as normal. Of course, the bank is also not allowed to communicate any of this to you. You're going to have to stick it out I'm afraid. The bank are actually complying with the law and rules here. I'm confused, earlier on you were the one suggesting to the OP to report this to the FOS? Also - just so that you are aware - you need to wait for a response from the bank before you can ask the FOS to look at a complaint. Just for your reference, I think their website clearly explains this: http://www.financial-ombudsman.org.uk/consumer/complaints.htm Action Fraud are DEFINITELY correct. On what basis do you disagree? Can I suggest that you perform a simple Google search about CIFAS first of all.

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