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7th April 2006, 21:52
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#1 (permalink)
| | Gold Account Customer | Capital Offence Hey comrades! I'm gonna use this thread for postings re: my action against capital one.
Requested on Wednesday (by phone) no Data Protection Act letter for statements since May 2004 - they said they would be with me within 7-10 days - assured me I didn't need to write or send a Data Protection Act payment - suits me.
Was delighted today to see that Capital One have added another £20 charge for exceeding my £200 credit limit with a £6 transaction on Tuesdy. Rang them in Bangalore or Delhi or Mumbai, and hung up each time until I finally got through to Nottingham:
"Hello you've just charged me £20 for exceeding my limit by £6. Would you be so kind as to consider a refund?"
"No."
"Errm, okay then. What about the OFT findings - do you not realise your charges likely breach the fairness test of the UTCCRs, and are condemned by the OFT?"
"Nope. Totally legal. Read your terms and conditions."
"Yes, but you're t & c's are unfair and therefore unlawful. No court would award you "general damages" of £20 for me exceeding my credit limit by £6.."
"So."
"So please will you consider a refund. I don't want to drag your deceitful, manipulative, condescending, immoral, smelly arses through the Small Claims Court (Okay I didnt say this last bit). Just be reasonable with me."
"No. Is there anything else I can help you with today Mr Cervantes?"
(I was about to go into the whole " well as you've not helped me yet..." but I resisted)
"Yes actually. What is the address of your legal department for me to forward my preliminary letter outlining my intent to pursue legal action? Cheers, Thanks, Ta."
AND SO THE JOURNEY BEGINS.... |
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10th April 2006, 00:17
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#4 (permalink)
| | Gold Account Customer | Re: Capital Offence Man these guys are just incredible...
I paid £90 onto this account in light of the fact that I had gone £6 over my limit and they had applied a £20 fee (see my 1st post)...
I paid that amount by debit card on thursday by phone to Capital One.. Now here is one of my biggest ongoing gripes with Capital One:
Why should our payments take 4-5 working days to reach our accounts?!? I can understand if cheque or perhaps a telephone transfer... but when you pay by debit card that amount is either "authorised" or "declined". The merchant (Capital One) KNOWS that they will receive the money...
Yet Capital One insist on holding on to that payment for 4-5 working days before applying it to your account... they don't even show that the payment has been made, so they besmirch your character by putting you through to "payment assistant teams", your account still shows as overlimit online, and on the automated service... it is outrageous. All the while they are charging you debit interest on the balance... (I mean that money leaves my bank account/debit card immediately).. This is appalling and I am considering petitioning the court for costs with regards the debit interest charged during such occurences....
Imagine the scenario:
You are out for an eveing with a friend or a partner, and you decide to pop into a restauant for dinner.
You sit down, check the menu, order your food.
The waiter comes over.
Takes your debit card (they've had a few instances recently where people have made off without paying for their dinner - run with me on this!!)
Goes and debits your card for the price of the meal - and the payment authorised by your card issuer.
The waiter then comes back to the table and says "Sorry sir, the chef won't be cooking your meal until for another 5 working days until we physically receive that money - would you like some complimentary water while you wait?"
I mean it really is outrageous and I need to vent my frustration!!! |
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10th April 2006, 09:12
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#5 (permalink)
| | Classic Account Customer
Is your bank avoiding its debts Data disclosure poll Cagger since
: Feb 2006 I am in: East London
Posts: 234
| Re: Capital Offence I totally agree with you! that really gets me angery when it takes up to 5 working days!!!!!  |
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10th April 2006, 09:52
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#6 (permalink)
| | Site Team The Consumer Action Group | Re: Capital Offence Who is in a position to make banks move this money in a timely fashion?
Maybe we should start a campaign against them.
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10th April 2006, 09:56
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#7 (permalink)
| | Platinum Account Customer
Is your bank avoiding its debts Data disclosure poll Cagger since
: Mar 2006 I am in: Limbo...
Posts: 5,454
| Re: Capital Offence Maybe the 'why five days' is a question we should all be asking more frequently. As Ed says, it doesn't happen in any other aspect of life...good luck Ed...hope it goes well. |
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10th April 2006, 11:04
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#9 (permalink)
| | Platinum Account Customer | Re: Capital Offence Quote: |
Originally Posted by Natasha well in most other countries the mooney is transfered the same day!!  | Which makes you wonder - as most of the UK banks have a global presence, what is their clearing period in other countries...? |
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10th April 2006, 11:22
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#10 (permalink)
| | Gold Account Customer | Re: Capital Offence Natasha you are quite right - in Sweden and a lot of other EU countries money is transferred within 3 hours (regardless of bank of origin, or destination account).
I keep hearing rumours that the UK will be forced down this route in the very near future otherwise it will probably be in breach of EU directives on free-trade.. I expect there will be some sort of parlimentary review in time?
HOWEVER.. I really am thinking of testing this with my action against Capital One because they seem to be the worst offender.. My experience with other lenders is that they do not make it as difficult for you to credit your account - and also most other institutions at least acknowledge that you have made payment.. yes they might not allow you to have access to the funds for say three days... but they mark your account as having received it... (which is crucial from calculating debit interest).
SERIOUSLY this has dawned on me, it's not just the inconvenience, and besmirchment that irks me.. Nor the often quoted "they are making money out of our money while they hold onto it"... but more so they are actually charging us debit interest during the period as well. Damnit.
Maybe we should start a new thread to gauge interest in this issue alone. See if we can develop a legal basis to challenge Capital One - I know it sounds up there with the fairies but maybe we could get enough momentum on this topic to launch a class action as a test case? |
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10th April 2006, 12:09
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#13 (permalink)
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oatman
Guest
Where else can you earn 8% interest on your money? Start your County Court claim NOW!!!
Posts: n/a
| Re: Capital Offence I paid cash in an envelope into a machine inside my local Halifax branch. This is for customers' convenience to save queueing. I couldn't see the money in my account online. Went into the branch and was told it takes 3 days to clear. "Darling" I said, "but cash doesn't clear, it's CASH." I was told they have to open the machine and check the money before it can be credited to an account. I argued that they must do that every night, but they even denied that.
Also one of their cheque clearances takes 7 days. Work that one out!
I worked in a bank 40 years ago and it only took 3 days to clear a cheque and that was by post.
Banks are crooks and staffed by clowns. | |
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10th April 2006, 17:29
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#14 (permalink)
| | Gold Account Customer | Re: Capital Offence Ha.. I'm putting the windies up Capital One gist of the conversation I just had...
"Hello. I've just spoken to the Office of Fair Trading, and Consumer Direct, they've asked me to ring you just to clarify an issue before reporting you to them.."
"oh really? what's that?
"Well, you know I paid you that £90 on Thursday and you told me it won't show on y account for another 4-5 working days?"
"Yes I can see that payment."
"Well, as it was paid by debit card, you received an authorisation code that approves the payment, deducts it from my account, allocates it to your merchant number, and is guaranteed to be honoured by my bank."
"Yes."
"So my question is where is that money? Why if you insist on not allowing me to have access to it as cleared funds, do you not at least mark my account as having received that payment?"
SILENCE, sound of static, re-adjustment of headset
"See, I've just realised that not only do you bugger me about by ensuring I dont have cleared funds for another week, you continue to charge me debit interest.." (I then launch into a monologue on ethics, the restaurant analogy (see previous posts) and how I am raising a complaint with the OFT with regards Capital One's payment terms...
SOUND OF PIPED MUSIC AS I AM PLACED ON HOLD BEFORE:
"Mr Cervantes, I have had to fill out a form requesting that a manager call you bck within the next two hours to discuss this issue.. blah blah"
Well I don't care, the more hassle I can cause them, the better - they're gonna have to file an injunction for a restraining order against me soon.. and they'll lose that case as well!!! |
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11th April 2006, 22:15
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#17 (permalink)
| | Gold Account Customer
Where else can you earn 8% interest on your money? Start your County Court claim NOW!!! Cagger since
: Apr 2006
Posts: 467
| Re: Capital Offence Yes it's incredible. Capital One certainly seem to be the worst offenders out of all the financial service providers.
I have just finished writing a three page complaint focusing largely on the length of time it takes to credit the account, and their failure to implement admi procedures that at least note the account holder as having mad a payment (for interest purposes).. oh and there is quite a good bit on the crap 'automated system' that isn't really automated because it requires you to supply the customer service agent in Bangalore or Mumbai or wherever with all the account information when you eventually get through..
But I think my closing paragraph summarises it quite nicely: "I invite you to respond to this letter addressing; i) Capital One’s failure to provide a mechanism whereby customers can credit their account at their own behest and in a time-frame which is consistent with other financial service providers; ii) the absence of appropriate administrative processes, whereby accounts are updated with payment information in a timely and fair fashion; iii) justification for the charging of debit interest after a payment which has been approved and made in good faith by the customer; iv) frustrations generated by the automated service; v) poor level of service dispensed by your Indian call centre. You need not reply to the issue regarding your unfair and unlawful regime of charges as per Common Law, Statute, and recent consumer regulations, as this is a matter I am pursuing separately and will be happy for you to defend in the Small Claims Court should it prove necessary."
Well they reckon it costs them £20 every time they send me an automatically generated letter.. based on that, I calculate they will spend the GDP of a small to medium-sized African nation having to "manually intervene" in response to my letters... |
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21st April 2006, 15:55
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#18 (permalink)
| | Gold Account Customer | Re: Capital Offence Hey comrades..
Busy busy day.. received in post statements relating to my older capital one credit card.. but bizzarely only 3 months worth instead of the 12? Didn't wanna get too uppity on the phone as I had never had to send a £10 request or letter to obtain any f the statements.. when I got thru I explained to the customer service guy (english), who was unnervingly helpful..
"Oh right Mr Cervantes, you only received 3 months, ha, that's not very good now is it..?"
I'mgetting worried at this point thinking Ive rung someone else..
"Right, well let me just call your old account up on screen, yep Ive got it here"
Again, usually this part takes forever..
"Do you think rather than you guys post out the statements again (another 10 working days) you might just go through them with me on the phone.."
Fat chance Im thinking...
"Yes certainly, Mr Cervantes.. Right I can see you had a total of X charges over X months, here we go.."
Unbelievable. I'm now in shock and having to take a tranquilizer to contain my disbelief...
Long story short, got all the info I needed, calculated charges (£320 on £200 limit card over total of 22 months) - just sent Prelim letter.
Also spent afternoon (after coming down off the ketamine), writing yet another letter to supplement the Prelim, where I state without prejudice my genuine concern and shock at the particularly aggressive regime of fees/charges Capital One operates..
Would love to post the letter here.. but it's too long here's a wee taster, an onion barjee before the vindaloo for those of you still reading!!! "In effect Capital One applied a regime of charges that in total represents 160% of the maximum credit ever offered to me; £320, on a credit card with a limit of £200 over a period of less than 22 months. These charges are on top of the 29.9% APR that has continued to be paid during this period, as agreed compensation for the lending provided by Capital One. I am writing this letter from a personal and not legal perspective. I passionately believe that such charges and their aggressive application are grossly unfair. If Capital One maintain that their response to my account was within the terms and conditions, and thus ‘fair’, then of course I will have no option but to pursue my claim via the Small Claims Court and I am confident that I will be successful. My motives in pursuing this action are not wholly pecuniary, it is equally about being treated with a degree of respect, sensibility, and fairness. " Anyways keep the momentum people, we're all individuals customers, but the collective of the consumer is proving a pretty powerful force!!
Last edited by Don Quioxte; 22nd April 2006 at 00:13.
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21st April 2006, 19:19
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#19 (permalink)
| | Basic Account Customer | Re: Capital Offence I have £1180 worth of charges on 2 credit cards of £200 limit.
One card stands at outstanding balance of £473 and the other is £103.
I got a call yesterday saying that my payment (for the lower balance card) was overdue, which it was n't and i was also told that I was over the limity on this card. When I explained to her she was wrong she checked it out and apologised.
My LBA for £1180 is in the post anyway. They should owe my about £700 plus costs and interest |
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