I HAVE A PROBLEM WITH MY BANK,OVER 3 WEEKS AGO I CHECKED MY…

Question

Answer 1

Solicitor: Joshua, Lawyer replied 11 years ago

Very helpful of him.

your bank is regulated by the financial services authority and the bank can only expect you to be responsible for a transaction if you authorise the same or the bank can prove that although the transaction is fortunate, it happened to you to your own fault, for example because you stored your pin number with your debit card and subsequently lost the same filter reported for example.

Providing you contact your bank as soon as possible once you realise the fraud and providing you contact them no later than 13 months from the date the fraud occurred then the bank is obliged to refund you such amounts that have been debited without your authorisation.

The bank is required to make refund immediately unless it has evidence to suggest that you authorise the transaction or it can prove you are at fault because you have acted fraudulently or have failed to protect details of your account as above. The bank has the right to investigate such matters before making a refund but must act promptly in this respect and at this stage would suggest you consider making a complaint. You are required to follow through the planks internal complaints procedures before referring the matter to the financial ombudsman service who have the power to consider awarding compensation if they feel it is appropriate.

Answer 2

Solicitor: Joshua, Lawyer replied 11 years ago

I am afraid there is no magic solution other than the above. he sooner you make a complaint the quicker you will get it resolved ultimately if necessary by the FO service. Court action would take months and be no quicker and would cost substantial amounts. It is wholly inappropriate for this type of mater I would suggest and would expose you to the banks legal costs in the unlikely event you were unsuccessful.

Answer 3

Solicitor: Joshua, Lawyer replied 11 years ago

Respectfully the only other route is to go to the courts but here you are looking at substantial court fees, exposure to banks legal costs and a time frame of 3-6 months minimum.

Compare this to an internal complaints process which is free, has a timeframe of usually 14-28 days (bank can advise) and then if not satisfied a referral to the Financial Ombudsman which has the power to make a binding order on the bank which is also a free service and they usually make a decision within three months. If you are not satisfied with the decision of the ombudsman, you still have the right to go to court.

I cannot see any advantages of going to court therefore at this stage because it would take longer to reach a decision, you incur further costs and would expose herself to potential litigation fees from the bank.

the only other option available to you would be to exploit any influence you have the bank and / or generally made a "pain of yourself" until they provide some action but from what you say, you may be limited in this respect and presumably have a business to run and accordingly do not have time to spend hours in or on the phone to the bank.

you obviously free to go down the route of court action but for the above reasons, I cannot see that it is at all in your interests to do so but obviously this is a decision for you.

Answer 4

Solicitor: Joshua, Lawyer replied 11 years ago

I am afraid we are not going to get any further. As you can see a colleague has agreed with my answer. There is nothing more I can tell you - I would love to be able to give you a magic wand but this is the real world and the above constitutes the sum total of your options available to you.

Please do not relist this question any more as there is nothing further I or any of my colleagues can add to the above.

If you will click ACCEPT I will happily discuss further so far as it is productive to do so.

Kind regards

I HAVE A PROBLEM WITH MY BANK,OVER 3 WEEKS AGO I CHECKED MY…

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