Do the banks destroy the original T & C's?

[Gogivit]

The lovely lady from my bank advised me that my original terms and conditions form that I signed in March 1993 when opening my account,was destroyed years ago!

 

Is this normal procedure for banks?

Do you destroy original paperwork for insurance policies, for mortgage agreements also etc etc?

 

Please advise.

[bwdski]

Aren't they meant to keep them for 15 Years?

[dave]

I think it's 7, but don't know for sure.

[alexteh]

I call BS. If the banks want to hold you to the Ts&Cs then they have to have them surely?

[indebtstudent]

I know we chuck out old leaflets so as to avoid breaching regulations by somebody accidently putting them out...

 

BUT surely there must be some record of the T & C's even if it is only electronic? How can they rely on them if they don't have them?

[anon1]

the original app form specific to you may well be 6-7 years but Terms and conditions leaflets would still be kept somewhere

[Gogivit]

Thanks All,

 

Having asked the customer care officer FROM MY BRANCH to confirm in writing what she said verbally; She has responded by saying that the matter is now passed over to Leeds!

 

It is an interesting scenario hence why I ask is it normal practice for banks to destroy original paperwork / agreements?

 

I am wondering if I should during my claim through the courts have the lady in question (from the bank) summonsed to court . Not to mention the clerk who advised me over the counter my funds were sufficiant and happily paid me cash over the counter then several days later stung me!

 

My case has been interesting to date from a cancelled / non working cash point card to being overdrawn though advised by bank im in credit to t&c being destroyed and including refusal to state in writing what is said verbally on the phone...

[anon1]

The answer is no because they would have to remember every single solitary conversation they have with each customer. To be honest, i have had a few customers apologise to me and i could not remember what they were talking about. I think you have had inefficient service from the bank and incompetance.

[indebtstudent]

I think there's a misunderstanding here. In branch we do chuck stuff out once it is out of date but yes there simply MUST be a record somewhere. For Christs we refer to the T & C's in letters so, if we were to rely on them in court, we MUST have a copy somewhere if only on computer.

[anon1]

Not sure on that computer side indebt, i am sure paper copy would exist but not necessarily computerised form.

[bwdski]

Could we have found a way out of having to supply the T&C's in our court bundles?

 

If we write to the bank asking for the terms & conditions for the relevant date, and they don't supply them and later produce them in court, is there something we could do about it?

 

sorry if that's not clear.

[Gogivit]

The fact I requested the T & C'S and was advised over the phone they were destroyed and therefore can not have a copy and advised that the matter is now with head office via writing, suggests to me either a stalling practise or negligence on the part of the bank!

 

I am not detered and will simply tell the judge that I attempted to seek a copy from the bank and they admitted to its destruction and then on oath I recall the words "penalty fees" being quoted on the original document that I have misplaced. At least on oath I will be telling the truth!In fact the NAB does quote penalty charges in their 2004 trading statement!

 

Is anyone in posession of a terms and conditions agreement forms from the 1993 period?

[welshcakes]

I see where bwdski's going which is why the Draft Directions going out with the

http://www.consumeractiongroup.co.uk/forum/general/53570-new-strategy-allocation-questionnaires.html?highlight=new+strategy:

 

"a) Pursuant to what contractual provision such charge was made, producing a copy of the contractual document relied upon;"

 

which I presume for most of us will be the T&Cs.

[bwdski]

I see where bwdski's going which is why the Draft Directions going out with the

http://www.consumeractiongroup.co.uk/forum/general/53570-new-strategy-allocation-questionnaires.html?highlight=new+strategy:

 

 

"a) Pursuant to what contractual provision such charge was made, producing a copy of the contractual document relied upon;"

 

 

which I presume for most of us will be the T&Cs.

 

 

Thank you.

Have put another request in to the bank for the Terms & Conditions in the LBA we sent on Friday (recived today)

[rbrears]

Yes - and if the bank doesnt produce a copy of the relevant T&Cs we should perhaps be saying in our POCs that we do not accept that the bank was entilted to charge these fees at all as we have not seen or been provided with any T&Cs which permit the levying of such charges. That will mean that the banks will have to produce the T&Cs to show that they were in fact provided for in the contract in the first place.