Nominal Refund

[slick132 5,590]

Hi RT,

 

You didn't confirm - have you used any of the dormant a/c's in the last 6 years.

 

In particular, have you paid any money into them.

 

[romanytony 1]

The account has not been used by me, cretdit or debit, for six years.

[slick132 5,590]

Hi RT,

 

Determining if the a/c is SB'd or not depends on various factors.

 

For instance, if the a/c went overdrawn but stayed within an authorised facility, the SB clcok may not start ticking until the balance went beyond the authorised amount.

 

However, if you instructed for the a/c to be closed years back, this should have been done. If there was any balance to be paid by you, the bank should have asked you for it at that time.

 

Do you still have a/c statements to show what happened 6 years back.

 

Can you say if you owed the bank, or vice versa, when you ask for the closure.

 

Or do you know if and when the a/c went overdrawn outside of any agreed facility.

[romanytony 1]

I would have to check all those dates/balances. Will get back to you.

[romanytony 1]

I took out a summons against Barclays charges years ago,

for 2 years they kept telling me I wouldn't win.

 

Then two days before the court date they phoned me and offered a full refund (over £6k) providing I signed a 'confidentiality clause',

I refused to sign anything and told them I would continue with the summons.

Within minutes the phoned back and gave me a full refund without any clauses.

 

During the 2 years further charges had been accrued.

I started a second claim but everything was put on hold whilst the banks appealed against the court ruling on charges, to everyones surprise the banks won.

By this time I had opened a new account with another bank, leaving a substantial overdraft with Barclays.

 

When they asked me to clear the overdraft I told them they owed me more than I owed them.

Since then I've had a bad credit ref from them, and a dormant account.

 

Now they have written to me and apologised for their behaviour and offered me a nominal refund, the bad credit is still in place though.

What is everyones advice?

 

Should I accept their nominal refund, or go through all my old statements and ask for more?

[dx100uk 9,661]

for the complete story I've merged 4 threads about this account.

 

so you got everything back, where did the money go?

[BankFodder 2,114]

What do you mean by "nominal"?

 

Also, to save having to go through the entire thread, can you tell us a bit about the banks behaviour. Please would you post up a copy of their letter of apology to you in PDF format

[romanytony 1]

Not sure what your question is! Where did the money go? Do you mean the overdraft I left them with? Or the refund they gave me? The refund from the old charges went into my new account with another bank, they refund they are offering now I haven't replied as yet, the balance I left them with is still showing on my credit rating report. Is that what you mean?

[dx100uk 9,661]

ok so...

you got back all the ppi/charges

then they levied a whole heap more.

you put in a second claim but that got stayed by the bank charges debacle with the authorities at the time

as did everyones outstanding claims....they got put on hold.

and that's been the balance to date that's showing..

 

today, they've now offered a 'nominal' refund regarding this balance and their [in] actions, but it's nothing like what you think it should be

and doesn't wipe the balance now showing out?

 

hope I've got this correct...

thats the balance thso in effect the balance should today be £0?

 

as for the new refund I would

[romanytony 1]

I don't have a scanner so I will type out some of the letter,

 

as for their behaviour,

back in those days the banks were fighting any refunds,

they strung each claim out as far as they could.

 

The charges were excessive to start with, and computer generated.

A bank charge could make you overdrawn which then attracted more charges.

Times have changed, now banks are trying not to be the enemy but are more humane in their approach to customers.

 

Here are the relevant extracts from the letter.

We are writing to tell you that you will receive a refund on the above account.

Following a recent review of our operating procedures we have identified that for customers who were in excess of an agreed account limit and / or had fallen behind on their loan repayments, we did not always meet our expected standards for assessing customers circumstances or engaging with them.

Please accept our apologies for this.

 

As a consequence we may not have offered you the support most appropriate to your financial situation.

To address this we will refund the interest, fees and charges which were applied to the account during the period in which we may not have provided the service we should have.

 

The "Basic Refund" is £116.55.

The letter goes on to state the in addition to this they will pay £40 (Inconveniance Payment).

These refunds will be applied to my account and reduced the amount outstanding. End of quote.

 

What this effectively does is to bring to life a dormant account which has not been pursued for years.

I would have to go searching for all the details and then go back years to find all the charges and interest.

Edited October 18, 2018 by dx100uk
spacing

[dx100uk 9,661]

you could use a digital camera or your phone camera read upload .

 

however.

 

no this doesn't re-activate a dormant account as it not a transaction by YOU>

so doesn't changed the defaulted date that should be shown registered by the original creditor...??

 

that date should be YOUR last transaction in or out.

does this match the defaulted date?

 

think we asked this back in 2015?

[romanytony 1]

Thanks for your reply, I need to clarify something where we are talking about dormant accounts.

For the account to become statute barred doesn't it mean that the creditor has not pursued payment for a period of time?

 

I would like to know the period for this to be effective, is it 5 years?

If it means from the date of my last transaction that would be a different date to when I last heard from the bank.

 

My Credit Report states that this debt will last until 2020, not sure what happens after that date.

[dx100uk 9,661]

statute barring is 6yrs in E&W unless you are in Scotland and the account was taken out whilst resident in Scotland.

 

so theres no defaulted date in the debt summary ?

[romanytony 1]

Default date is 2014, so 4 years ago.

[dx100uk 9,661]

so your last use should ideally be within 6mts of that date??

 

if thats a true defaulted date [not one months or years after it should have been reported [3rd missed or short payment by you triggers this]}

then it will show on your file till its 6th birthday then the whole account will vanish.

 

doesn't mean its not payable

doesn't mean that's the statute barred date.

[romanytony 1]

Thanks again, I will need to dig out my old files and find out when I last used the account. I will have to find them anyway to look for charges etc. But it's 6 years from the default or 6 years when the account was used?

[dx100uk 9,661]

As said sb date is nothing to do with defaulted date