Credit Card Fraud Refund

[schwepppes33]

Had £300 nicked from my mastercard by someone who it seems spent a clone of the card in New York (I was obviously in the UK at the time). The bank immediately notified me by text and the card was cancelled.

 

I was previously told that they'd refund the money within three days. The next person I spoke to told me that this was incorrect, in fact everything I had been told previously was incorrect.

 

Despite this the bank is failing to refund the money to me. What can I do? It's been almost two months now. They say they won't do anything until the investigation is complete, meanwhile it's costing ME money.

[rebel11]

Hi Schwepppes33

 

What's the name of the bank?

[schwepppes33]

Halifax. But to confuse it further the mastercard was apparently issued by Lloyds which took staff an hour to find out - they weren't sure if the original fraud notification was genuine or not as they didn't realise Lloyds is issuing such warnings to customers! Anyway, the brand on the card says Halifax.

[rebel11]

Hi schweppes33

 

Write a Formal Letter of Complaint, mark it as such. Explain what's happened, how they have let you down and what you want them to do.

 

Also state the following:-

 

Because halifax are regulated by the Financial Conduct Authority, the Halifax have to adhere to a set of legally binding key principles laid down in the Banking: Conduct of Business Source Book.

 

State that Halifax has treated you unfairly under the following BCOBS Principles:

 

Principle - Customers' interests - A firm must pay due regard to the interests of its customers and treat them fairly.

 

Principle - Communications with clients - A firm must pay due regard to the information needs of its clients, and communicate information to them in a way which is clear, fair and not misleading.

 

 

Send it to:-

Ms Alison Brittain

Head of Retail Banking

Lloyds Banking Group

[email protected]

[schwepppes33]

Thank you. Out goes another complaint then

[rebel11]

Lets us know how you get on.

[schwepppes33]

Thanks. What are my actual rights? I can't find an official list or anything anywhere... lots of articles but no real law or regulations.

[rebel11]

http://www.fca.org.uk/consumers/financial-services-products/banking/your-rights/unauthorised-payments

 

Thanks. What are my actual rights? I can't find an official list or anything anywhere... lots of articles but no real law or regulations.

[schwepppes33]

If the transaction was on a credit card, fixed notice savings account or cash ISA, or was made by a cheque you may not receive the refund immediately. But the card issuer cannot charge interest or ask for repayment of the amount unless it can prove you are liable to pay.

 

 

they continue to charge me interest on the balance!

[rebel11]

In the letter tell them you want that refunded, which they should do.

 

they continue to charge me interest on the balance!

[schwepppes33]

Thanks. I have done so... along with demand to know why they haven't changed my balance to reflect the fraud... why they haven't contacted me further about it (I have no idea about it except someone used a cloned card of mine in New York). Apparently cloned cards should see refunds given almost instantly. No such luck here. I've challenged them to explain why they haven't followed the UK Cards Association advice that "most card companies ensure that the available balance and interest payments are unaffected" despite them being a member.

[rebel11]

Let us know what they say.

[schwepppes33]

Wow, that was quick. I got a letter today apologising, telling me they'd be repaying immediately the money missing from my account, and offering me £100 compensation. They also say normally it takes up to 14 days to contact a customer about a cloned card... although it is sketchy on whether they have already sent me the fraud declaration or not. It implies they have, but only implies rather than declares.