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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...
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...
I do hope that they were saying this as a joke!!
Quite a good one too.
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I do hope that they were saying this as a joke!!
Quite a good one too.
Please don't pm me about specific questions unless you have posted and it has not been dealt with or unless the matter is confidential. Please include a link to the post you want me to look at. If you have received a defence, contact me.
Advice & opinions of BankFodder, The Consumer Action Group and The Bank Action Group are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts.
Please don't pm me about specific questions unless you have posted and it has not been dealt with or unless the matter is confidential. Please include a link to the post you want me to look at. If you have received a defence, contact me.
Advice & opinions of BankFodder, The Consumer Action Group and The Bank Action Group are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts.
Please don't pm me about specific questions unless you have posted and it has not been dealt with or unless the matter is confidential. Please include a link to the post you want me to look at. If you have received a defence, contact me.
Advice & opinions of BankFodder, The Consumer Action Group and The Bank Action Group are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts.
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
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
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?
Please don't pm me about specific questions unless you have posted and it has not been dealt with or unless the matter is confidential. Please include a link to the post you want me to look at. If you have received a defence, contact me.
Advice & opinions of BankFodder, The Consumer Action Group and The Bank Action Group are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts.
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?
Please don't pm me about specific questions unless you have posted and it has not been dealt with or unless the matter is confidential. Please include a link to the post you want me to look at. If you have received a defence, contact me.
Advice & opinions of BankFodder, The Consumer Action Group and The Bank Action Group are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts.
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......
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......
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.
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.
Annual Bonus
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.
Originally Posted by gothicf0rm
