Financial Ombudsman - a recommendation

[verdant]

I've emailed the FO asking what they can do to help me with reclaiming charges made by various banks.

[phatram]

I think their reply will be "NOTHING".

Because they can't be bothered or won't be bothered or are just spineless etc etc etc etc!

[verdant]

I'm wholly expecting a very non-commital answer which will give lie to the myth of an independent Financial Ombudsman Service funded by the industry it's supposed to help resolve disputes with.

 

The financial ombudsman service is referred to by banks in their responses to complaints in order to obfuscate the fact that the best course of action may be to go to court. When was the last time you had a letter from a bank saying "if you are unhappy with this response you can refer the matter to the Financial Ombudsman Service, or if you'd prefer to actually get your money back you could take us to court".

[joneshousehold]

Just found this thread and have emailed the FOS. Here's what we said

 

We understand you have recently expressed concern about the number of complaints received in respect of unlawful bank charges. We want you to know that we have also claimed back these charges from banks (yes we do mean banks in the plural).

 

We have not however raised our complaint to your office as we frankly have no confidence in your service. Our personal experience is that you are in the main unhelpful to the customer, at times providing far too much support to the larger organisation even in the face of legislation that supports the claim. We base this on our personal contact with your service in the past in connection with both the banking and insurance industries.

 

It really is unnacceptable that a service such as yours that purports to be independant and to provide help to the small customer should supply such a biased approach that gives too much comfort to your paymasters.

Don't suppose it will make any difference but if Bankfodder tells me to jump, I only ask "How high sir?"

[lenny100]

sent my email hope one more will get things moveing soon

[Guest Battleaxe]

I am prepared to make a complaint to the Ombudsman regarding our A & L loan, to see if the office can act as mediator. i have written to A & L about a way forward, and wait for their reply. It depends on that reply, iof I go to the Ombudsman first before taking it through Court. if the FO has been listening (reading) maybe a decision based on commonsense might be forthcoming

[Darran Phelps]

The Financial Ombudsman is apparently so concerned about the level of complaints re bank charges and also the lack of public confidence in his office that maybe it is about time that he was made aware of the true scale of the problem.

 

I would recommend that everyone writes their own letter to the Financial Ombudsman to inform him

• that they are bringing a bank charges claim against their bank

• that they are not going through the Office of the Financial Ombudsman as they have no confidence in him.

• that although he is concerned because he is receiving 150 complaints per week, The Consumer Action Group is receiving 4,000 complaints per week. In which of our two organisations does he believe the greater public confidence reposes?

This will only need a short note. It doesn't need to be expressed well or cleverly. Just send the note.

 

I think that it will help to make a difference

 

I have tried contacting the Ombudsman for help, as my bank refused to deal with me as I was forced out of my home and seperated from my partner. The Ombudsman sent me a dissmissing e-mail and told me to deal with the bank.

[fae]

Hi all the Ombudsman is so slow 21 Centery and monet can take a week to clear

Action should be taken today to stop some of these charges not leaving it to the individual

[Keith22]

Hi,

 

The FSO gets a lot of bad publicity but in my case I could not have wished for a better service with regard to my complaint against Lloyds for mis-selling PPI. The whole process took two months from start to fininsh. I was kept informed at every stage and when I telephoned I found them helpful although impartial. The judgement I received was comprehensive, full and fair to both sides. I received a full refunds plus interest the whole thing amounting to £4.5K. There were some shinnaigans from the Bank right at the last minute which the FSO sorted out the same day sending me copies of their email to Bank and the Bank's reply. I did spend a great deal of time preparing the documents I sent to the FSO and fully indexed them and referenced them to my complaint. I did this because I realised that the FSO makes a decision based on the paperwork before them and so I tried to present as comprehensive a case as possible.

[Guest Battleaxe]

Well done Keith. It's good see the FO is prepared to go the distance at times. Maybe they are now taking what is happening seriously and as in your case the Bank tried to be funny at the last minute, so the FO now realises what thousands of us have been saying and experiencing with the Banks in the past.

 

Would you go the FO route again if necessary?

[Keith22]

Yes I think I would but not for unlawful charges as the route through the CC is tried and tested. I have also heard that the the FSO will only recommend a refund of charges in excess of £12 but don't know how true this is

[seafarer]

As far as FOS is concerned, my experience is that they are a total waste of time and in thrall to the big banks. Whilst I have a small claim action raised last week against HBoS, and await their response, I also have a much larger action for a very substantial six figure some(possibly going to be seven figures when completed) against RBS presently raised in the Scottish Court of Session. Prior to raising this action, I spent nearly eighteen months with communications with Financial Ombudsman. I found them to be very biased towards RBS and utterly incapable of reaching an impartial decision. Needless to say they dismissed my complaint.

 

The very fact that opinion has been taken from both junior and senior counsel, who both concur that there is a pleadable cae in law, for our action, is further proof of FOS pandering to the bank's wishes. After all the FOS is funded by the financial institutions.

[Keith22]

Seafarer

 

I appreciate your point of view and I'm sure that many would agree with you however the handling of my case was faultless. I can only speak as I find and the assessment by the FSO of my case was quite damming against the Bank and I got my money back. The case was decided on documentation from both sides not on points of law as this is how the scheme operates. Maybe there should be an ombudsmans scheme which does consider legal issues.

 

I would have found it difficult to have presented a legal case in the CC as my knowledge of contract law is not good and I felt I had a better chance with the FSO. So it proved.

[Achilles]

I used the Financial Ombudsman Service against First Direct claiming £6664, it took 1 phonecall, 1 form and 1 month and FD have agreed to pay in full. You couldn't do that in small claims with a £5000 limit!

[happyolddog]

It is my view that yes the F S O should do more but worst still is the O F T, It is for them to set the limits that the banks can reasonably charge, they did so with regards to credit cards. Why are they taking so long with bank charges. "It whiffs a bit." Are they major shareholders? They have been in recipt of the information for two years and say it will take another two before they can sort it out, WHY!

[JonCris]

I do wish posters would stop claiming the OFT set the limits that card companies can charge. THEY DID NOT. They stated that "whilst they were NOT claiming it was lawful only the courts could decide that, if the credit card companies reduced their charges to £12 or below they wouldn't intervene".

 

That is not setting the charges & frankly the OFT would have been better to keep it's mouth shut as all they did was give these money lenders a figure to hang their hat on

 

Sorry for the slight rant but if people keep giving credence to this nonsense then new members will be mislead into thinking the likes of Cap One are correct when they offer to reduce their fees to £12 claiming that's what has been 'agreed' by the OFT

[phatram]

Well said.

£12 IS STILL UNLAWFUL !!!!!!!!

Hope that makes it clear.

[maleo]

Sent my email saying the FO was useless

[pompeyfaith]

Ok done which gave me great pleasure

 

POMPEYFAITH

[JonCris]

Sent my email saying the FO was useless

 

Can we see it?

[pompeyfaith]

Yes sure here is a copy of the email

 

Dear Walter

 

I feel I have course to complain about my bank the Cooperative Bank Plc.

 

Only last week I was charged £35 for an unpaid direct debit which may I add

was charged only hours before my wages and child tax credit was paid in.

 

Then tonight on checking my account online I find more charges relating to

same unpaid direct debit of another £50 so to cap it all I've been charged a

total of £85 for a direct debit of £35.89 that works out at more than twice

of what should of been paid.

 

It is about time you took action against this kind of behaviour as it is

nothing more than robbery.

 

I do not expect you to take up my case in getting recourse and a refund from

my bank for unfair charges which my I add is unlawful as I do not have any

trust in you as a legal body.

 

I have opted for the option in taking my bank to court on my own as I

figure I have a 99.9% chance of success

 

Yours Faithfully

 

Leon F Carter

[maleo]

Hi JonCris,

 

Sorry - I'll post it on here probs tomorrow - sent it from my work computer, so don't have it on my laptop at home!

[maleo]

"Dear Sir/Madam,

 

I'm writing to inform you that I am bringing a bank charges claim against HSBC Bank. I am not going through the Office of the Financial Ombudsman, as would normally be the final port of call, as I have no confidence in you. I have also reported this concern to my MP, Rt. Hon. Clare Short, who is also taking up parts of my claim with the bank, and may enter a further discussion with your office on my behalf.

 

I can understand your concern about the level of complaints you are receiving with regard to bank charges, but your total lack of action is prompting people to lose confidence in the Office, and to bypass it completely - especially when it seems there is more chance of winning the claim by handling it through the courts.

 

As an aside, I wonder if you're aware that the Consumer Action Group is receiving 4,000 complaints per week. In which of the two organisations do you believe the greater public confidence reposes?

 

I hope the level of letters you receive from customers who have no faith in your office prompt you to take further action.

 

Yours,

 

Dave"

[The old chap]

The Financial Ombudsman is apparently so concerned about the level of complaints re bank charges and also the lack of public confidence in his office that maybe it is about time that he was made aware of the true scale of the problem.

 

I would recommend that everyone writes their own letter to the Financial Ombudsman to inform him

• that they are bringing a bank charges claim against their bank

• that they are not going through the Office of the Financial Ombudsman as they have no confidence in him.

• that although he is concerned because he is receiving 150 complaints per week, The Consumer Action Group is receiving 4,000 complaints per week. In which of our two organisations does he believe the greater public confidence reposes?

This will only need a short note. It doesn't need to be expressed well or cleverly. Just send the note.

 

I think that it will help to make a difference

 

Good morning all.

My wife is doing battle with Lloyds, we think she should get £2600 but she has been going through the FOS. The 1st offer was £70 odd pounds now in this mornings post, a letter from FOS saying Lloyds have now offered £1115 to settle. The FOS write 'This seems, on the face of it,to represent a refund of all the charges that you dispute and you will find it acceptable.

I work out that Service charge Interest £219, UnA/Borrowing fee £100, Fee Unpaid Items £130, Admin Fee £20, O/Draft Interest £386, Unpaid D/debits £1101, OverDraft Usage fee £20, O/draft Exceess Fee £650, UnPaid cheque £35.= Total £2661.

Some thing does not seem quite right does it.

Any comments other that 'on your bike' We shall of course refuse such a generous offer.

Thanks any one.

[Keith22]

Hi

 

I'm not sure that your calculations are correct but of course I could be wrong. For example you have listed a total of over £1000 for unpaid direct debits - this seems a lot just for penalty charges. Could you please clarify things by breaking it down a bit. For example: x number of unauthorsied letters @ £15, x number of unpaid direct debits @ £35 etc I'm being a bit thick because I can't see from your list how much of the total is for penalty charges and how much is for legitimate charges / interest. No doubt somebody esle will see it clearly but I'm a bit puzzled.