Compensation

[MarklahMarklah]

Wonder if anyone can help?
I'm (yet again) complaining to the bank about mistakes they've made on an account I operate.
Over a four-year period there have been a number of administrative errors on their part, all of which have inconvenienced me.

I'm writing to them today about the latest shambles. How do I get around to mentioning compensation expectations?
Last time they gave me £150 which, in the circumstances was reasonable, but, taking the overall situation as it stands, they've royally fucked up this account from start to the present.

I will, in due course, be closing the account as they are clearly not able to manage to run it properly.

In the interim, I'd like to ask them to compensate me for the stress, time wasted, and distress caused to the original account owner (it's a POA situation).

I don't want to add tons of details here but am happy to answer PM's if that helps give clarity.

Would asking for X amount per year/month that the POA has been in place be a reaonsable starting point? Considering that it is only since then that there have been problems...the account was originally set up back in the 1980's (or earlier).

Also, if anyone has suggestions on wording, that'd be great.

Again, I don't really want to post the letter as it stands on here, but can PM.

Have you discovered the Resolver website? It helps you structure a complaint letter and escalates the complaint for you if it doesn’t get sorted in a reasonable period of time.

The bank offered me £100 and I've told them to jog on. I've now raised it with the financial ombudsman. As I was giving the details to the person on the other end of the phone, at one point even they said, "what a shambles."
Lets see what happens next.
I also have an issue around GDPR which was pointed out to me today by the FO person, so will be raising that shortly too.

If it's with the FOS, leave it in their hands. The FOS often award compensation when they find against the financial institution. However, as with cases that go through court, people are often shocked that compensation for distress and inconvenience is often a small amount. You may want to do a bit of research on this to adjust your expectations. I believe the FOS has their own information page on distress and inconvenience.