Annual Bonus

[frazeeay]

Just a quick one, but when I worked for Abbey National, during our training, we were told that the bank charges (£30 at the time, as I remember) went towards our Annual Bonus, so the more charges we refunded, the less we got in our bonus at the end of the year.

 

Needless to say, I used to refund charges as much as I could...

[frazeeay]

Just a quick one, but when I worked for Abbey National, during our training, we were told that the bank charges (£30 at the time, as I remember) went towards our Annual Bonus, so the more charges we refunded, the less we got in our bonus at the end of the year.

 

Needless to say, I used to refund charges as much as I could...

[BankFodder]

 

I do hope that they were saying this as a joke!!

Quite a good one too.

[BankFodder]

 

I do hope that they were saying this as a joke!!

Quite a good one too.

[gothicf0rm]

dont you realise what he's just said. if you can get him on record you can submit it as evidence every time someone sues the grabby

[gothicf0rm]

dont you realise what he's just said. if you can get him on record you can submit it as evidence every time someone sues the grabby

[Bookworm]

dont you realise what he's just said. if you can get him on record you can submit it as evidence every time someone sues the grabby

 

Hearsay. Would that be accepted as evidence in small claims? I know it wouldn't in a criminal case.

 

xxx

ML

[Bookworm]

dont you realise what he's just said. if you can get him on record you can submit it as evidence every time someone sues the grabby

 

Hearsay. Would that be accepted as evidence in small claims? I know it wouldn't in a criminal case.

 

xxx

ML

[BankFodder]

The rule against hearsay is gone now

[BankFodder]

The rule against hearsay is gone now

[gothicf0rm]

it aint hearsay if the person who got the bonuses and briefing gave a sworn statement of truth to a solicitor (would cost us ten quid).

[gothicf0rm]

it aint hearsay if the person who got the bonuses and briefing gave a sworn statement of truth to a solicitor (would cost us ten quid).

[warby37]

I worked for Abbey for 7 years until 18months ago and can honestly say that in all that time it was never mentioned that the bonus was related to the amount of charges we did/nt refund. Bonus payments were linked to profits so I suppose in a roundabout way the fewer charges refunded the greater the profits = the bigger the bonus (though the highest I ever got was 8%)

btw I'm no fan of the Abbey & would never reccommend them to anyone.

hope that helps

[warby37]

I worked for Abbey for 7 years until 18months ago and can honestly say that in all that time it was never mentioned that the bonus was related to the amount of charges we did/nt refund. Bonus payments were linked to profits so I suppose in a roundabout way the fewer charges refunded the greater the profits = the bigger the bonus (though the highest I ever got was 8%)

btw I'm no fan of the Abbey & would never reccommend them to anyone.

hope that helps

[BankFodder]

Warby

I'm quite sure that the original comment ws a joke.

 

But do you have any isights into penalty charges - how they are comprised and who sets them?

Also, have you got any good penalty charge stories?

[BankFodder]

Warby

I'm quite sure that the original comment ws a joke.

 

But do you have any isights into penalty charges - how they are comprised and who sets them?

Also, have you got any good penalty charge stories?

[warby37]

sorry I've no idea how charge amounts were decided.

 

Although they did label customers priority 1, 2 & 3 dependant on how much they were deemed to be worth the company (how much money they could make from them). A priority 3 customer had virtually no chance of getting a charge refunded even if they had been a perfect customer, with us for years & had never been o/d before. (I would sometimes take it on myself to refund a charge but unless I could get a manager onside with my rationale I would get into trouble for doing it). P1 customers could run their account as badly as they wanted & if they asked for charges back would usually get them.

I was always monitored on charge reversals & tended to give back more than average but I always had evidence to back up my decisions. Some of my 'workmates' would take pride in refusing refunds......

[warby37]

sorry I've no idea how charge amounts were decided.

 

Although they did label customers priority 1, 2 & 3 dependant on how much they were deemed to be worth the company (how much money they could make from them). A priority 3 customer had virtually no chance of getting a charge refunded even if they had been a perfect customer, with us for years & had never been o/d before. (I would sometimes take it on myself to refund a charge but unless I could get a manager onside with my rationale I would get into trouble for doing it). P1 customers could run their account as badly as they wanted & if they asked for charges back would usually get them.

I was always monitored on charge reversals & tended to give back more than average but I always had evidence to back up my decisions. Some of my 'workmates' would take pride in refusing refunds......

[Bookworm]

Although they did label customers priority 1, 2 & 3 dependant on how much they were deemed to be worth the company (how much money they could make from them). A priority 3 customer had virtually no chance of getting a charge refunded even if they had been a perfect customer, with us for years & had never been o/d before.

 

Do you know, I have my suspicions that it's going to be the same kind of system that will be (is?) applied when it comes to all those letters going out at the moment, but more in line with a "how likely is this one to take it further" attitude. So, if you have a history of being a pain in the butt and contesting every charge, or depending on your education/profession, you would be more likely to get your money back than if you've never complained before...

 

No evidence, obviously, but a gut feeling... And the priority thing above just reinforces that.

 

xxx

ML

[Bookworm]

Although they did label customers priority 1, 2 & 3 dependant on how much they were deemed to be worth the company (how much money they could make from them). A priority 3 customer had virtually no chance of getting a charge refunded even if they had been a perfect customer, with us for years & had never been o/d before.

 

Do you know, I have my suspicions that it's going to be the same kind of system that will be (is?) applied when it comes to all those letters going out at the moment, but more in line with a "how likely is this one to take it further" attitude. So, if you have a history of being a pain in the butt and contesting every charge, or depending on your education/profession, you would be more likely to get your money back than if you've never complained before...

 

No evidence, obviously, but a gut feeling... And the priority thing above just reinforces that.

 

xxx

ML

[bosslady]

I used to work for Barclays until fairly recently, in 3 different branches, and in each branch we were discouraged from refunding charges as it would would come directly off the bonus pot.

what tended to happen was that the customer would be passed from head office to the contact centre to the branch (or a variaton on that) as no-one wanted to refund their charge.

we were also told to charge customers £5 per statement they requested (over and above the normal monthly ones they got) which I never did - just put on the form that they'd had a break-in so they got them free - the department that sent the statements out must have thought our area was rife with burglaries!

[bosslady]

I used to work for Barclays until fairly recently, in 3 different branches, and in each branch we were discouraged from refunding charges as it would would come directly off the bonus pot.

what tended to happen was that the customer would be passed from head office to the contact centre to the branch (or a variaton on that) as no-one wanted to refund their charge.

we were also told to charge customers £5 per statement they requested (over and above the normal monthly ones they got) which I never did - just put on the form that they'd had a break-in so they got them free - the department that sent the statements out must have thought our area was rife with burglaries!

[Yyates]

A friend of mine used to work for natwest and rbs she says that the charges are a way for the bank to make money so they can give free banking and it costs practically nothing to bounce a dd or cheque etc. She also said that in order to qualify for a credit card they used to give priority to those who had missed payments on other financial areas such as catalogues as it meant they could make more money out of them by way of penalty charge as the chances are a payment would be missed, and yes she said the charges are a penalty charge nothing more so the bank can profit from it. Also where LLoydstsb are saying some of the data cannot be given because it is help on a micro fiche (sp) she says you are entitled to this information and they cannont withold it.

[Yyates]

A friend of mine used to work for natwest and rbs she says that the charges are a way for the bank to make money so they can give free banking and it costs practically nothing to bounce a dd or cheque etc. She also said that in order to qualify for a credit card they used to give priority to those who had missed payments on other financial areas such as catalogues as it meant they could make more money out of them by way of penalty charge as the chances are a payment would be missed, and yes she said the charges are a penalty charge nothing more so the bank can profit from it. Also where LLoydstsb are saying some of the data cannot be given because it is help on a micro fiche (sp) she says you are entitled to this information and they cannont withold it.

[richardc]

Is your friend willing to put this on record?