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    Compensation from banks

    Does anybody know how much the banks compensate you for banking mistakes, especially lloyds tsb.

    44 Comments

    Supermod

    What is your loss?

    There are no set guidelines for compensation (of this nature) as it depends on the circumstances.

    Original Poster

    Ordered a new card at the start of feb, the order was cancelled by the bank so I've had to re order, now due on the 19th. The old bank card no longer works so I'm having to transfer money into a savings account so I can get access to my money from a cash point.

    Original Poster

    I always thought that the banks had a set amount of compensation, for when they messed up.

    Supermod

    solarforce

    I always thought that the banks had a set amount of compensation, for … I always thought that the banks had a set amount of compensation, for when they messed up.



    So, what is your actual loss?

    It was a mistake, you are not out of pocket, whats the problem?!

    Original Poster

    My loss is my time, phone calls and parking costs. There is also the issue of inconvenience, and a poor service that I pay for, I informed them that I would be closing my account, they offered me £25 compo, my reply was thank you but I would still close my account I was then offered £50. My reply was thank you and I would think about the closing of my account.

    Original Poster

    I was just wondering what the going rate was? And if I should have held out for more.

    Supermod

    solarforce

    My loss is my time, phone calls and parking costs. There is also the … My loss is my time, phone calls and parking costs. There is also the issue of inconvenience, and a poor service that I pay for, I informed them that I would be closing my account, they offered me £25 compo, my reply was thank you but I would still close my account I was then offered £50. My reply was thank you and I would think about the closing of my account.



    £25 was a fair offer. What exactly are you expecting?

    Lloyds TSB will make mistakes constantly, so better off out of there, if you get £50 for leaving then so much the better IMO. They won't let me close my account because I only have 8p in there, haven't bothered trying to close it since.

    Supermod

    moose109

    Lloyds TSB will make mistakes constantly, so better off out of there, if … Lloyds TSB will make mistakes constantly, so better off out of there, if you get £50 for leaving then so much the better IMO. They won't let me close my account because I only have 8p in there, haven't bothered trying to close it since.



    Very sweeping statement. I have been with Lloyds TSB for many years without incident.

    magicjay1986

    Very sweeping statement. I have been with Lloyds TSB for many years … Very sweeping statement. I have been with Lloyds TSB for many years without incident.



    +1

    Make sure there is always money in your account and you won't have a problem with any of the banks.

    magicjay1986

    Very sweeping statement. I have been with Lloyds TSB for many years … Very sweeping statement. I have been with Lloyds TSB for many years without incident.



    Indeed, a very sweeping statement because they won't let me withdraw my money, charge money on accounts with little benefit to the customer and still have the cheek to ask the government for money when they can't manage their own accounts properly instead of crumble like any other business

    Supermod

    Syzable

    +1Make sure there is always money in your account and you won't have a … +1Make sure there is always money in your account and you won't have a problem with any of the banks.



    Exactly. Many people complain of unfair charges once they have spent someone else's money.

    Supermod

    moose109

    Indeed, a very sweeping statement because they won't let me withdraw my … Indeed, a very sweeping statement because they won't let me withdraw my money, charge money on accounts with little benefit to the customer and still have the cheek to ask the government for money when they can't manage their own accounts properly instead of crumble like any other business



    Then, without being pernickety, you should have said that they have messed you around as opposed to saying that they make mistakes constantly.

    magicjay1986

    Then, without being pernickety, you should have said that they have … Then, without being pernickety, you should have said that they have messed you around as opposed to saying that they make mistakes constantly.



    Not just me, it was colleagues as well when I worked for them, for example denying that a colleague was at work while money was being withdrawn from his account, he was stood right next to me which really annoyed me! I hope no-one has the unpleasant experience of dealing with them and gets the chance of taking £50 from them and running for the hills like the OP.

    Banned

    Syzable

    +1Make sure there is always money in your account and you won't have a … +1Make sure there is always money in your account and you won't have a problem with any of the banks.



    very sweeping statement.
    I have money in my accounts but didn't stop the Halifax cancelling all my cards and direct debits and making me prove I wasn't deceased as shown on their records!
    They actually asked me on the phone if I could prove I was alive, so I said, no, you got me there, its actually a ghost speaking to you.

    colinsunderland

    very sweeping statement.I have money in my accounts but didn't stop the … very sweeping statement.I have money in my accounts but didn't stop the Halifax cancelling all my cards and direct debits and making me prove I wasn't deceased as shown on their records!They actually asked me on the phone if I could prove I was alive, so I said, no, you got me there, its actually a ghost speaking to you.



    But sweeping statements are the way to go in this thread.........it's the new black.

    Original Poster

    The £50 has been already been paid into my account, the last time I ordered a card for this account 12 months ago the same thing happened, ( they cancelled the order), so I'm not happy with the service especially when they can't tell me why the orders keep being cancelled. I do think £50 isn't enough for me to stay with them, especially when I'm account is so healthy.

    Banned

    No hate, but you haven't actually lost anything. £50 is more than fair.

    Why do people think they are automatically due compensation when a mistake is made?
    Edited by: "JonnyTwoToes" 16th Feb 2011

    Original Poster

    Jonny, if I go over my overdraft limit I'm charged, I pay for the the service, I expect that service to carry out what it's meant to do, I ordered a new card on the first of feb they said it would take a week, they cancelled it and never reordered it until I phoned up asking if it had been delivered, they then tried to make out that it was on order when it wasn't, and to cap it off this is the second time this has happened to be, if you were out for a meal and they lost your order and you had to reorder your meal say an hour later would you not seek a reduction in the cost of the meal?

    Banned

    I understand what your saying mate, but that's the way of the world nowadays
    Spend a day in my shoes and you'll understand the service industry is not what it used to be.
    You're lucky to get the £50 in my honest opinion.

    Original Poster

    I don't understand what you mean "that's the way of the world". I can't marry that up with what you have said so far, surely the way of the world is if you provide a service and you fail to deliver that service surely you would offer some sort of compensation to derbies future business, but from what I can gather you disagree, " why do people automatically feel that they should be given compensation when a mistake happens.
    Do you work in the service industry? If so what do you do?

    Banned

    solarforce

    I don't understand what you mean "that's the way of the world". I can't … I don't understand what you mean "that's the way of the world". I can't marry that up with what you have said so far, surely the way of the world is if you provide a service and you fail to deliver that service surely you would offer some sort of compensation to derbies future business, but from what I can gather you disagree, " why do people automatically feel that they should be given compensation when a mistake happens.Do you work in the service industry? If so what do you do?



    That's not the way things work now I'm afraid.

    I had 10,000 printed mugs delivered to the wrong address ten days ago. The supplier messed up. Do I get compensation? No. I just get an apology.

    If there is nothing in T&C's that cover your point, then any offer is goodwill. Take it. And realise we live in a different world now.

    Original Poster


    do you feel that you should have been compensated for the mistake by the supplier? Or did you just say oh well and took it on the chin. I think we both live in the same world but you don't want to admit it, you opinion seems tainted by your bad choice of lousy supplier.
    No hate intended, and I'm truly sorry to hear that you lost out by a mistake by your supplier.

    Banned

    solarforce

    do you feel that you should have been compensated for the mistake by the … do you feel that you should have been compensated for the mistake by the supplier? Or did you just say oh well and took it on the chin. I think we both live in the same world but you don't want to admit it, you opinion seems tainted by your bad choice of lousy supplier.No hate intended, and I'm truly sorry to hear that you lost out by a mistake by your supplier.



    8 years ago when I started my business, hell yes! It was always service driven. Now, it's full of idiots typing away on keyboards who don't really give a damn.
    After a period of time, you become accustomed to the crap. I deal with it on a day to day basis.

    That is why I am saying you are lucky to get £50.

    You are certainly right to go elsewhere though. But it will mean nothing to them if you do.

    People demand compensation for everything nowadays!! Also I love the threat to close your account...... Guess what they really don't care that much! Sound like your a trouble maker anyway so I'm sure they would rather spend their time on other customers. If you hate banks so much (as alot of people seem too lately) try not using one and see how easy it is.

    Also the charging for accounts that noone benefits from comment. Don't have that account then. There is such a thing as personal choice out there!! I personally don't mind them as they got me a new iPhone in 1 weeks when I dropped it in my tea!!!

    Banned

    I wouldn't say OP is a trouble maker, just someone a little out of kilter with modern day workings of these businesses.

    At the core, he is indeed correct to demand compensation - you may have got it ten years ago. Times..... they are a changing!

    The reason I suggest he is a trouble maker is because he turned down 2 fair offers because he thinks he deserves more, when the financial loss is minimal.

    Banned

    gbspurs

    The reason I suggest he is a trouble maker is because he turned down 2 … The reason I suggest he is a trouble maker is because he turned down 2 fair offers because he thinks he deserves more, when the financial loss is minimal.



    I agree, but his stance is somewhat correct. The way businesses feel they need to deal with the individual is the issue. He is lucky to get what he did.

    Christ, you got 50 quid for going for your 'troubles' - take it and move bank, unless you can get the shirt off their collective backs.

    gbspurs

    Also the charging for accounts that noone benefits from comment. Don't … Also the charging for accounts that noone benefits from comment. Don't have that account then. There is such a thing as personal choice out there!! I personally don't mind them as they got me a new iPhone in 1 weeks when I dropped it in my tea!!!



    With Lloyds TSB, you either pay for the account or get a very basic one and if you work there, you have to open an account with them, no choice. If you look around though, the 'advantages' of paying a bank each month for an account can be had cheaper elsewhere. For example your iPhone, would your house insurance not pay for that? After all you do pay for house insurance in case of accidents. Other 'advantages' can either be useless (which applies to at least some of the 'perks') or can be had cheaper elsewhere if you shop about.

    And as this is a website for getting things as cheap as possible, its the best thing to do

    colinsunderland

    very sweeping statement.I have money in my accounts but didn't stop the … very sweeping statement.I have money in my accounts but didn't stop the Halifax cancelling all my cards and direct debits and making me prove I wasn't deceased as shown on their records!They actually asked me on the phone if I could prove I was alive, so I said, no, you got me there, its actually a ghost speaking to you.



    I did lol at that Although I bet you weren't at the time!

    OP I think you are lucky to have been offered £25 let alone £50!

    I choose not to get my iPhone insurance included with my home insurance as normally excess is more and affects your no claims.

    Original Poster

    gbspurs

    The reason I suggest he is a trouble maker is because he turned down 2 … The reason I suggest he is a trouble maker is because he turned down 2 fair offers because he thinks he deserves more, when the financial loss is minimal.



    Why am I a trouble maker and who I'm I causing trouble to? If you have read all the posts you would have seen that I have excepted and received £50, when I told the bank that I wasn't happy and that I was intending to leave them, they offered me compensation, I didn't ask for it. They asked me how much I was after, my reply was there is no point me suggesting a figure because I don't know how much they could offer me. They offered £25 and I said thank you but I would still close my account, they offered £50 my reply was thank you and I would think about it.
    I remember speaking to a bank employee many years ago who said that there was a set amount for every mistake made as compensation. I was merely asking if someone knew what the current payments were.

    Fair enough I apologise if I misread the scenario.

    Original Poster

    No harm done gbspurs, shame Jonny agreed with your comment, that hurts.
    Edited by: "solarforce" 16th Feb 2011

    Banned

    solarforce

    No harm done gbspurs, shame Jonny agreed with your comment, that hurts.



    No, no! I agreed with the fact that you are expecting a lot from a company that should really be offering you nothing.

    I'm not saying I agree with it - it is simply the way of the world now.

    I think I've actually stood up for you if you reread my posts.

    Original Poster

    I'm just pulling your leg.

    Maybe you should have taken better care of your card. They issue you with a card and expect you to take care of it until it expires. The fact you have had to order a new card twice in a year shows you are either fairly careless or very unlucky.

    Original Poster

    Hissy Miss

    Maybe you should have taken better care of your card. They issue you with … Maybe you should have taken better care of your card. They issue you with a card and expect you to take care of it until it expires. The fact you have had to order a new card twice in a year shows you are either fairly careless or very unlucky.


    Good point, I think it's a man problem, keeping it in a wallet and then putting in in your back pocket and then sitting on it, is not good for the card.

    Edited by: "solarforce" 16th Feb 2011
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