Reclaim packaged account

[bearing]

Whilst at University in the mid to late 90s I held a graduate account with Lloyds which on graduation had to be changed to a standard account.

 

 

As with most students I had built up quite an overdraft and was told by the gentleman I spoke to in my branch

that a standard account wouldn't be suitable unless I could reduce my overdraft to a level which would be allowed.

Clearly I didn't have the funds to make such a payment so was 'offered' a gold account as that would allow me to service the overdraft without a problem.

 

Fast forward to now and I have recently written to Lloyds to complain about being mis-sold the gold account,

in my opinion I was not given any other options due to my status and felt that I was pretty much pushed into taking it out.

I have just spoken to a complaints manager who has pretty much turned down my complaint.

 

The reasons for being turned down is their lack of account information previous to 2001

and that I downgraded the account to (I think) a classic account in 2010 before closing my account in 2011

meaning that (in their opinion) they don't need to uphold the complaint and do not need to investigate further.

 

What are your thoughts on this? If I can find statements going back to the opening of the account do you think I will be able to pursue it further?

 

Thanks in advance.

[BankFodder]

By all means pursue it. It is normal for dishonest banks like Lloyds - and the others to reject claims and then for them to be upheld by the FOS.

It doesn't mean that you will win but you have nothing to lose.

 

Sounds as if someone in the 1990s at Lloyds decided to get a few extra bonuses by leveraging people's overdrafts against them. Nothing new

[citizenB]

Have you considered sending a Subject Access Request to the bank - you should obtain all the details you require from that. It is a request for all data that the bank holds in respect of your relationship with them.

 

It will cost you £10.00 and they have 40 calendar days in which to comply, after which time you can escalate to the Information Commissioner or, even issue a claim against them for non compliance

 

You can use the draft SAR request linked below.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?387306-Full-Subject-Access-Request

[bearing]

Have you considered sending a Subject Access Request to the bank - you should obtain all the details you require from that. It is a request for all data that the bank holds in respect of your relationship with them.

 

It will cost you £10.00 and they have 40 calendar days in which to comply, after which time you can escalate to the Information Commissioner or, even issue a claim against them for non compliance

 

You can use the draft SAR request linked below.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?387306-Full-Subject-Access-Request

 

Will that bring forth copies of statements from before the 2001 cut-off they told me about?

[citizenB]

TBH, this is a kind of lottery.

 

They are supposed to retain information for 6/7 years after the relationship has ended. Some keep it longer, some shred as soon as 6 years is up... whether or not the relationship has ended or not.

 

Rest assured if you owed them money, then they would have the information somewhere in their archives.. whether it was from yesterday or Victoria's reign !

[bearing]

Right, I'll get the SAR off in the post then and also get in the loft and see if I can find evidence of my own.

 

They mentioned that they will send a cheque for £48 as a gesture of goodwill, does this suggest them trying to buy me off?

[Guest]

48! usually its a round 50 as their min.

[bearing]

48! usually its a round 50 as their min.

 

Miserable gits!

[citizenB]

Miserable gits!

 

That is very polite

 

Yes, it does sound as though they are hoping you will accept and go away. There is little goodwill in any gesture made by the banks !