Financial Ombudsman - a recommendation

[flash]

It's in the post

[stevied]

Email sent - synopsis - ombudsman is toothless and government cow tows to the banks. To think I could have been interviewed by Sky News this week too!!

	The Financial Ombudsman Service For the most part, don't bother. The Ombudsman is an industry arranged service which is under-resourced, takes too long, lacks clear transparency. You have no idea what evidence the FOS has received from the bank or how your complain has really been handled. The FOS is the preferred complaints route for the banking industry. The county court is to be preferred by consumers for its speed, openness, the quality of its awards and also because it will award 8% interest on top of any damages won by you. The Ombudsman should normally be used to solving little technical difficulties or customer service problems which you have expereinced with your bank.

[rascal3103]

mine done

[danielking]

A reply from the FO, and my reply follows.

Dear Mr King
Thank you for your email.
I am afraid that there are some limitations to our powers. One of these is that we do not have a general "policing" function with regard to banks. We do not, for example, have power to order or recommend that a bank should limit its charges to a particular level or should exercise its discretion in levying charges in particular circumstances.
I note from your email that you are unhappy with the business practice of the bank and therefore you should refer to the industry regulators; Financial Services Authority (FSA.) They can be contacted on;
Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS
Tel: 0207 0661000
Fax: 0207 6761099
Web Site: http://www.fsa.gov.uk/
Yours sincerely
Kerry Scannell
Consumer Consultant
Financial Ombudsman Service
Tel- 0207 093 7034

My Reply:
Dear Ms. Scannell,

Many thanks for your reply. I will forward details to the Financial Services Authority.

I would, however, expect that some or all of the following areas are within your power:

Applying pressure to banks to follow legal procedures for administering charges.
Notifying banks operating under your sanction that their policies are unfair on the consumer.
Acting on complaints brought to you by consumers.

Nevertheless, I am grateful for the response, and will continue my course of action through Her Majesty's Court Service.

Yours Sincerely,

So it looks like a forwarded mail to the FSA is next!

[bill-k]

Well done, Danielking - wish I'd said that !!

[Alison82]

Hi folks, here is the response to from my email

Dear xxxxxxx

Thank you for your email.

I am afraid that there are some limitations to our powers. One of these is that
we do not have a general "policing" function with regard to banks. We do not,
for example, have power to order or recommend that a bank should limit its
charges to a particular level or should exercise its discretion in levying
charges in particular circumstances.

I note from your email that you are unhappy with the business practice of the
bank and therefore you should refer to the industry regulators; Financial
Services Authority (FSA.) They can be contacted on;

Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS
Tel: 0207 0661000
Fax: 0207 6761099

Web Site: FSA

Yours sincerely

Leigh Williams
Consumer Consultant
Financial Ombudsman Service
Tel- 0207 093 7016
Fax- 0207 093 7017

	The Financial Ombudsman Service For the most part, don't bother. The Ombudsman is an industry arranged service which is under-resourced, takes too long, lacks clear transparency. You have no idea what evidence the FOS has received from the bank or how your complain has really been handled. The FOS is the preferred complaints route for the banking industry. The county court is to be preferred by consumers for its speed, openness, the quality of its awards and also because it will award 8% interest on top of any damages won by you. The Ombudsman should normally be used to solving little technical difficulties or customer service problems which you have expereinced with your bank.

[danielking]

How disappointing/predictable - a standard response....

[morkandmindy]

Have just sent e-mail to financial ombudsman. Am in the process of working on letters to Lloyds TSB for both business and personal accounts

	The Financial Ombudsman Service For the most part, don't bother. The Ombudsman is an industry arranged service which is under-resourced, takes too long, lacks clear transparency. You have no idea what evidence the FOS has received from the bank or how your complain has really been handled. The FOS is the preferred complaints route for the banking industry. The county court is to be preferred by consumers for its speed, openness, the quality of its awards and also because it will award 8% interest on top of any damages won by you. The Ombudsman should normally be used to solving little technical difficulties or customer service problems which you have expereinced with your bank.

[HSBCrusher]

Just sent off my email, hopefully they will start getting the point....
eventually....

[un1boy]

Originally Posted by HSBCrusher

Just sent off my email, hopefully they will start getting the point....
eventually....

I dunno, mate, you'd hope, eh?

I've written a letter to my MP about all this and he's sent it to the state secretary for the department of trade and industry. If we all lobby our MP's they might start getting the picture!!

I have a thread with it all in, if you want to have the link, let me know!!

[strebor]

Seems to me that the FO and OFT are both a waste of time. Whilst continuing to attack the banks directly, I would suggest as many letters to MPs as possible. AND, someone on this site must be able to get some media exposure. Get 'consumer action group' on the news or Watchdog and I think we will start to see some results.

[un1boy]

Originally Posted by strebor

Seems to me that the FO and OFT are both a waste of time. Whilst continuing to attack the banks directly, I would suggest as many letters to MPs as possible. AND, someone on this site must be able to get some media exposure. Get 'consumer action group' on the news or Watchdog and I think we will start to see some results.

Well, I've emailed Watchdog today - if more people do then the researchers will have to take notice:

Try this:
BBC - Consumer - TV and radio - TV and radio

and I've written to my MP who has referred my letter on to the state secretary for the department of tradee and industry, so it will be interesting to see what their reply is.

[strebor]

Thanks for the link - I've just emailed them too.

[un1boy]

Originally Posted by strebor

Thanks for the link - I've just emailed them too.

No probs!

[phatram]

Lets not forget Mr Blair and his cronies.
We the undersigned petition the Prime Minister to Force the banks to repay unlawful bank charges and remove the six year time bar, forcing them to pay back everything from at least 1980.

[Battleaxe]

Emailed Watchdog, let's see what happens

[alanfromderby]

Also emailed Watchdog this evening, and in the process of putting together a detailed complaint to the FO.

[bill-k]

Phatram - excellent link to the petition. Added myself, wife, kids, cat & 2 goldfish to it !! No, seriously, just us two. Keep posting it to remind people, though !! Can we and mods add it to their sigs ?

Also un1boy - the Watchdog link - another one to plug away at !! I wish Anne Robinson was back on that job !!

And MP's - I'll have to pull my digit out and write a stiffie.

And of course, AlanFromDerby, we knew you'd do a big one !! Let's hope it lands fairly and squarely under the right nose. Well done mate.

Well done all you guys.

[Battleaxe]

Phatram

Kent and I added our signatures to the petition. I over looked that link yesterday.

Thank you for being proactive and getting this started.

[un1boy]

Originally Posted by bill-k

Phatram - excellent link to the petition. Added myself, wife, kids, cat & 2 goldfish to it !! No, seriously, just us two. Keep posting it to remind people, though !! Can we and mods add it to their sigs ?

Also un1boy - the Watchdog link - another one to plug away at !! I wish Anne Robinson was back on that job !!

And MP's - I'll have to pull my digit out and write a stiffie.

And of course, AlanFromDerby, we knew you'd do a big one !! Let's hope it lands fairly and squarely under the right nose. Well done mate.

Well done all you guys.

No probs - if you liked it, hit my scales!

Also, if it helps, take a look at the letter I wrote to my MP and the progress of it:

http://www.consumeractiongroup.c o.uk/forum/legalities/41134-letter-my-mp-please-new-post.html

It's a shame for things like this that our sigs don't show on every post anymore!