Trouble with your bank?
Posted: Jan 6th 2003, 12:08 pm
Hi everyone,
While most people seem to be getting refunds quite successfully from their credit card providers (at least from what I read here that's mainly the case), people who are forced to take on their banks rather than their credit card companies are having problems.
I was just responding to a PM and remembered a little story that I thought I'd share, just to reassure people that as a consumer, you have lots of power and you should not be afraid to stand up for your rights. If you don't have any rights, shout. It works.
Shortly before last Christmas, I was checking my bank statement, and I noticed a charge from BT (British Telecom) for £197 (that's around $300) which I knew nothing about. I always paid my bills by cheque, but remembered that a condition of being provided the phone service at the time of signing up was that I had to give them my bank account details. Like a fool, I did so.
I have since been told that this is NOT BT's policy at all and whoever asked for them was very definitely in the wrong. Anyway, BT cannot trace the payment, have no record of me ever owing them that amount. They recommended I speak to my bank and find out more info on the charge from them (like a reference number for the transaction). The Bank had a ref number but it didn't match anything that BT had ever heard of. Fishy. However, BT were unable to give me the money back and argued that the bank shouldn't have released the funds without proof from BT that they were authorised.
Long story short, I get into a row with the Bank. My point being that it was just before Christmas and I needed the money. I hadn't authorised the withdrawal, and the burden of proof was on them to show that I had done. They couldn't come up with anything, and said they would refund the money within 2 days. After 2 days there was no sign of my money, so I rang them again. The same woman then told me that unfortunately she had made a mistake and it was going to be 45 working days. I blew my lid. I was relying on that money for Presents and festivities. She then came out with the erroneous argument that the larger the amount, the longer it takes to refund. After I had explained to her that the policy was totally irrational (so if they take £5 without my permission, it really doesn't affect me too much but they can get it back to me within 2 days, but if it is £10,000 and I am left completely destitute with no way of eating, paying bills etc, they will take months to do it despite it being their mistake and leaving their customer with untold difficulties) and beyond ridiculous in any kind of customer service measure you care to use, they refunded my money. SAME DAY. I even got a call from someone high up to apologise.
I admit, I had to shout. I had to get rude. But believe me, if you've been an OK customer for a little while, they don't want to lose your custom and will do almost anything to keep it. It is a lie when they say they can't do it. 9 times out of 10, if it is within the law, they can.
Please please please, anyone out there having trouble with your bank, don't hesitate to use your consumer power, and please, have the guts to get tough with people. If you get no joy, escalate to the next level of management. Threaten to take your business elsewhere and write an explanatory letter to the CEO of the company. Do not take no for an answer. Their time limits are not a matter of law; they are purely policy based.
Good luck everybody!
While most people seem to be getting refunds quite successfully from their credit card providers (at least from what I read here that's mainly the case), people who are forced to take on their banks rather than their credit card companies are having problems.
I was just responding to a PM and remembered a little story that I thought I'd share, just to reassure people that as a consumer, you have lots of power and you should not be afraid to stand up for your rights. If you don't have any rights, shout. It works.
Shortly before last Christmas, I was checking my bank statement, and I noticed a charge from BT (British Telecom) for £197 (that's around $300) which I knew nothing about. I always paid my bills by cheque, but remembered that a condition of being provided the phone service at the time of signing up was that I had to give them my bank account details. Like a fool, I did so.
I have since been told that this is NOT BT's policy at all and whoever asked for them was very definitely in the wrong. Anyway, BT cannot trace the payment, have no record of me ever owing them that amount. They recommended I speak to my bank and find out more info on the charge from them (like a reference number for the transaction). The Bank had a ref number but it didn't match anything that BT had ever heard of. Fishy. However, BT were unable to give me the money back and argued that the bank shouldn't have released the funds without proof from BT that they were authorised.
Long story short, I get into a row with the Bank. My point being that it was just before Christmas and I needed the money. I hadn't authorised the withdrawal, and the burden of proof was on them to show that I had done. They couldn't come up with anything, and said they would refund the money within 2 days. After 2 days there was no sign of my money, so I rang them again. The same woman then told me that unfortunately she had made a mistake and it was going to be 45 working days. I blew my lid. I was relying on that money for Presents and festivities. She then came out with the erroneous argument that the larger the amount, the longer it takes to refund. After I had explained to her that the policy was totally irrational (so if they take £5 without my permission, it really doesn't affect me too much but they can get it back to me within 2 days, but if it is £10,000 and I am left completely destitute with no way of eating, paying bills etc, they will take months to do it despite it being their mistake and leaving their customer with untold difficulties) and beyond ridiculous in any kind of customer service measure you care to use, they refunded my money. SAME DAY. I even got a call from someone high up to apologise.
I admit, I had to shout. I had to get rude. But believe me, if you've been an OK customer for a little while, they don't want to lose your custom and will do almost anything to keep it. It is a lie when they say they can't do it. 9 times out of 10, if it is within the law, they can.
Please please please, anyone out there having trouble with your bank, don't hesitate to use your consumer power, and please, have the guts to get tough with people. If you get no joy, escalate to the next level of management. Threaten to take your business elsewhere and write an explanatory letter to the CEO of the company. Do not take no for an answer. Their time limits are not a matter of law; they are purely policy based.
Good luck everybody!
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