how much is fair compensation for bank blunders?

[aquilotta]

Hi. Just curious - how much is fair compensation for bank blunders when they've spent almost 6 months messing you about & continuing to take money to which they had no entitlement (because the loan not due for repayment)?
They only *finally* stopped when I threatened to take them to the financial ombudsman, after not only countless letters (and HUGE amounts of stress) but even attempts by the bank staff themselves to get through to the specific loan department...
Given the compensation which I believe the Ombudsman would have dictated, WHAT is a fair amount of compensation that I should expect the bank to offer as their "goodwill gesture" (ie., grovel)?

[Ethel]

How much money have you lost?

How much time off work did you need to take to sort it out?

How many hours on the phone and how many letters?

The amount of compensation has to be measured against accountable factors like these.

[andy-hughes]

As with insurance companies, there will be an amount you think is appropriate, and an amount they think is appropriate - and they will differe by a few noughts!

I would take your case to the Ombudsman, and then sit back and wait for six months - they are seriously snowed under - and wave his judgement under their noses and see what they say.

[tinkerbell87]

Im not toooooo sure here- I work for a bank (well untill tomorrow i do- theyre paying me off!!)

When i do complaints our general rule of thumb is �25 an error!?

BUT i was messed around with my card which took four months to resend due to various problems and i was given �200 for that!?

Hoep it helps
Tinkerbell

[aquilotta]

Yes, thanks guys! Really appreciate your input.