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"The Banking Code" - All talk no action ?

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Hi everyone :)

I am trying to find out if anyone has made a complaint to the Banking code Standards board that has actually been upheld ?

I want to find out if The Banking Code is worth the paper it is written on - the banks are continually reminding us that they subscribe to it but what does it actually do when a complaint is made -not a lot from my experience.

I made a comment in Angrycat's thread regarding the FOS, where I suggested that subscribing to the banking code was like being a member of the Guild of Master Builders (no disrespect to honest folk out there) it is of no real worth at all it just looks impressive on paper.

If it turns out that that the Banking Code Board are not taking us seriously when we make individual complaints to them as per the Code then maybe something more is required.

Please let me know your views,

Thankyou :D

Soldier Girl XXX


:rolleyes:

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Guest NATTIE

The Banking Code is a Voluntary code I'm afraid and is maybe not worth the paper it is written on

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It might be worth reproducing the following from the BCSB's own website:-

 

About the Banking Code Standards Board Ltd.

Funding

The BCSB is sponsored by the British Bankers' Association (BBA), The Building Societies Association (BSA) and the Association for Payment Clearing Services (APACS).

Subscribing banks, building societies and other banking service providers fund the BCSB by paying an annual subscription based on their size. Its budget is £1.5 million for the current year.

Independence

The BCSB has a powerful board of directors, seven out of ten of whom are independent.

The Banking Code Rules

The BCSB has Rules that provide a contractual relationship with subscribers. These rules cover issues such as disciplinary procedures and penalties.

Government Regulation

The BCSB is not part of Government or statutory regulation. It is committed to making a real success of self-regulation by the industry.

The Treasury appointed a Review Group in 2001, chaired by the distinguished economist Dr DeAnne Julius, who said "There is a broad consensus that service standards in banking can be effectively dealt with by self-regulation... Many feel that the Banking Code, whilst not perfect, is an exemplar of self-regulation".

 

Oh! by the way, the emiinent Dr Julius is a non-executive director of Lloyds TSB.:)

 

The BCSB directors are also listed on their website. You might like to write to them (well, seven of them, anyway!:rolleyes: ).

 

Elsinore


BANK CHARGES CAMPAIGN CONTINUES - PLEASE SIGN THIS PETITION

 

Aktiv Kapital £300.00 SETTLED IN FULL

Capital One £741.47 SETTLED IN FULL

Citi Cards £1221.00 SETTLED IN FULL

LTSB(personal) £3854.28 SETTLED IN FULL

LTSB(business) £7487.97 SETTLED IN FULL

 

What poor education I have received has been gained in the University of Life

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.........and they do want to hear from you.

 

We cannot intervene in, or resolve disputes between customers and their banks, building societies or card issuers. The BCSB is however, interested in hearing of cases where a financial institution appears to have breached the Codes.

 

Elsinore


BANK CHARGES CAMPAIGN CONTINUES - PLEASE SIGN THIS PETITION

 

Aktiv Kapital £300.00 SETTLED IN FULL

Capital One £741.47 SETTLED IN FULL

Citi Cards £1221.00 SETTLED IN FULL

LTSB(personal) £3854.28 SETTLED IN FULL

LTSB(business) £7487.97 SETTLED IN FULL

 

What poor education I have received has been gained in the University of Life

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Judging by the way the banks flout the rules over and over again I would guess they are there to make the banks look good rather than actually regulating them.


Mindzai & Lucid vs Lloyds TSB

 

Mindzai's Account - Partial settlement offer rejected

Joint Account - Partial settlement offer rejected

_________________________

Spreadsheet for compound contractual interest and statutory (s69) interest:

Download v1.9 [Tested with Excel 97-2007 and OpenOffice 2]

PLEASE NOTE: You should fully research contractual interest before you use that functionality of this spreadsheet. If in any doubt please use it to calculate 8% interest under s69 County Courts Act 1984.

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Quite right Mindzai. That's what most self-regulating bodies (clubs) do!

 

Elsinore


BANK CHARGES CAMPAIGN CONTINUES - PLEASE SIGN THIS PETITION

 

Aktiv Kapital £300.00 SETTLED IN FULL

Capital One £741.47 SETTLED IN FULL

Citi Cards £1221.00 SETTLED IN FULL

LTSB(personal) £3854.28 SETTLED IN FULL

LTSB(business) £7487.97 SETTLED IN FULL

 

What poor education I have received has been gained in the University of Life

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Agreed, I have complained twice to BCSB and recieved nothing but an automated reply on each occasion.


Smile:-The Ethical Bank:- Settled July 2006

HSBC:- Pre-lim sent 09/10/2006

LBA sent:-26/10/2006

Court papers issued:- 13/11/2006

Citifinancial/DLC:- Ongoing since 21st August. Now part of an OFT investigation into Debt Collection Practices.

I am only a Doctor of Love NOT Law. Don't blame me if me advice goes belly up!

:D (I will try to help all the same)

 

If i've helped, use the scales at the top to tell me how great I am!

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Thanks for responding guys -and a Happy New Year to you :)

I am aware of the points mentioned ie: the code being self regulating etc and whilst they may 'like to hear' from us what is the point if nothing is being done???

This makes The Banking Code as good as useless.........................unless you know better.

 

Soldier Girl :D XXXXXXXXX


:rolleyes:

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Oh! by the way, the emiinent Dr Julius is a non-executive director of Lloyds TSB.:)

 

The BCSB directors are also listed on their website. You might like to write to them (well, seven of them, anyway!:rolleyes: ).

 

Elsinore

 

This stinks of corruption someone tell me what else could this possibly be?

Its like letting the police police the police if you know what i mean.

adamski


Lloyds TSB (SARS) request sent 9th June 2006

£2191 Moneyclaim Issued 11/08/2006, Acknowleded 17th August Defence 14 Sep, AQ returned 5/10/2006.SETTLED IN FULL £2,670 26/11/2006/ Lloyds Credit Card SETTLED IN FULL £267

MBNA SETTLED IN FULL 15/09/2006 £829

Citicard (SARS) request sent 22nd June 2006 Moneyclaim issued 19th Sep, Defence and AQ received 5/10/2006, AQ returned 5/10/2006, part refund received 10/10/2006

GE MONEY SETTLLED IN FULL £400

Barclaycard Me and Mrs SARS sent 19/10/2006 settled £350

Welcome Finance PPI 2 accounts one settled £1018 waiting on other

GE Money PPI 1 account settled 8/5/2008 £560 2nd account SETTLED IN FULL £3,599.78p 15thAugust 2008

Lloyds TSB PPI CC complaint sent 10/04/2008

Black Horse PPI with FOS 20/05/2008

HFC PPI complaint sent 22/05/2008

 

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Exactly ! And I will be writing further to them to let them know that we are beginning to see the light and it is not good enough. It would add momentum if others can do the same.

SG xx :)


:rolleyes:

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