How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask Joshua Your Own Question
Joshua
Joshua, Lawyer
Category: Law
Satisfied Customers: 29202
Experience:  LL.B (Hons), Higher Prof. Dip. Law & Practice
35043042
Type Your Law Question Here...
Joshua is online now

Seven Years ago a major UK Bank deposited Euro 750 into my

This answer was rated:

Seven Years ago a major UK Bank deposited Euro 750 into my current account advising me that this was an interim payment against overcharges for Overseas Transfers that I had enacted with them. I asked for a breakdown of the Overseas Transfers that that Euro 750 was against to allow to form a summation of the amount possibly still outstanding. I was NEVER furnished with this information. On February 2nd. 2021 the bank wrote to me at my brothers address advising that they were of the opinion that the quality of service provided to me did not meet their standards and enclosed a cheque for GBP 50.00. I wrote back approximately 2 weeks ago stating that they had seemingly gone to great length to forward the letter and cheque too my brothers and whilst I was grateful for their offer I requested to be advised what it was relating to. On May 28th. 2021, they wrote to me at my sisters address stating that whilst I am no longer a customer they have reviewed some historic fees and charges and now attaching a cheque for GBP875.00. I am adamant that the two letters and cheques relate to the same subject from seven years ago. In light of the bank increasing their offer from GBP50 up to 875 in the space of two weeks then the question I am asking is with your assistance I am of the belief that a realistic settlement figure is now nearer GBP5,000. Can you please advise. I have historical records of ALL related correspondence over the past seven years.
JA: Have you talked to a lawyer about this? In which country do you live? If different, which country is your legal question related to?
Customer: You are the first legal entity I have discussed the issue with. I am currently working in Russia but a UK resident. The question is related directly to Foreign Transfers within the UK.
JA: What steps have you taken so far?
Customer: Since February 2nd. as stated, I responded to the bank early May and requested they supply me with detailed information what the GBP50 compensation was related to. Thereafter, they have written to me at a different address advised that GBP 875 was now compensation for the 'historical fees'. However they phrase it, the issue is that of seven years ago.
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: Currently no althought there is numerous correspondence related to the subject matter.

Hello and thank you for your question. My name is ***** ***** I will be very pleased to assist you. I'm a practising lawyer in England with over 15 years’ experience. Please be aware that although I will endeavour to reply to you promptly, I am also in full time private practice and so I may not be available to respond immediately and it may also take me a few minutes to prepare a reply. The site will notify you as soon as I respond. I look forward to working with you to answer your question fully.

I am very sorry to read of the above and I imagine what a difficult position it must be. I will certainly try to clarify your options.

May I confirm how you have quantified the £5K figure you refer to please? i.e. what do you believe the bank has done or not done that gives rise to damages?

Customer: replied 16 days ago.
Many thanks Joshua and much appreciated. I await your response.

May I confirm how you have quantified the £5K figure you refer to please? i.e. what do you believe the bank has done or not done that gives rise to damages?

Customer: replied 16 days ago.
I have not been able to quantify anything in seven years Joshua. That was my first objective seven years ago, to be provided to what foreign transfers the original Euro 750 was pertaining to therefore affording me to then estimate the outstanding balance. The GBP 5,000 is based on the bank offering GBP50 and within two weeks of me responding for further details it is curiosly risen to GBP875. Why was I not originally offered GBP875 on February 2nd. 2021??? Additionally, it has taken the bank SEVEN YEARS to now address the issue although that is not referenced in their two letters of correspondence this year.
Customer: replied 16 days ago.
I concur that calling you shall be beneficial Joshua. However, I believe it to be prudent to suggest that at this stage review of the history of the case (the correspondence) answers more questions then can be asked over the phone. I therefore suggests that if you believe that the sum of GBP875 may potentially be increased significantly then in the first instance I submit a detailed and chronological electronic file for your review.

thank you. It is difficult to see hoow you would make a claim against the bank without at least a notion as regards ***** ***** for a claim - i.e. suspicion that they may owe you more based on an attempt to pay you compensation reasons you do not understand would be difficult to found a claim in and of itself.

from what you describe, you would need to likely consider carrying out some information gathering. The only way I can see that this would be possible, assuming you did not wish to go to court on the matter, would be to raise a complaint on the basis that you are not happy that they have failed to explain the basis for sending you a cheque. They would then need to respond to that complaint within a maximum period of eight weeks. If they fail to do so we were not happy with the response, you can then refer the matter to the Financial Ombudsman which has evidence gathering powers to demand information from the bank.

Of course, this is not the end game necessarily as you would then need to potentially consider further complaint based upon any new evidence you obtain using the above process if you find there is cause for a claim for further damages. you would also not likely want to accept the compensation they have offered you particularly if this is expressed to be in full and final settlement as this would preclude your ability to make any further claims on the same facts at a later date

Customer: replied 16 days ago.
Many thanks for your comments Joshua, very much appreciated. The basis of seeking your consultation is that I am of the opinion that it is not for me to make claim against the bank but morover for the bank to seek reasonable final settlement with me. If you agree with my belief that the bank going to great length to contact me , at my brothers address, after seven years and to increase an offer of GBP50 up to GBP 875 it seems that it is the bank who is more inclined to desire to close the issue in preference to myself. I also acknowledge your comment that I can again just respond to the banks most recent offer and AGAIN request what the matter is relating to. If I take such course of action, should I intimate in my next response that if an accepted level of transparancy regarding the issue is not fortcoming then I shall have no alternative but to seek the assistance of the Ombudsman.

there is certainly no requirement for you to seek damages or make a claim against the bank; the bank is under no obligation to pay you damages or compensation except in so far as it is required to do so by the regulator which is likely the reason they have sent you a cheque because they have been required to identify customers which fit a particular profile in relation to something they have or have not done in the past. If you are not satisfied with any automatic compensation they have offered to you, or the information they have provided, the onus would be upon you to bring a complaint or claim against the bank for further information or further damages as described and discussed above

Joshua and 2 other Law Specialists are ready to help you
Customer: replied 16 days ago.
Joshua, thankyou so very much for clarifying the situation for me. You state that it is possibily due to the regulator that I have been identified as a customer who fits a particular profile to what the bank describes as 'standards they did not meet' and 'review of historic fees'. Therefore, I shall write again and asking for clarity as regard the refund of GBP 50 and GBP875 is relating to and why the requirement to forward correspondence to me at two seperate addresses. Effectually, I anticipate another vagua and guised response but am optimistic of an increase in the amount of refund. Should I require your service again, relating to this subject, would it be possible to correspond with you again? Again Joshua, my very sincerest thanks for your time and detailed response to my principal question.

I'm glad the above answers all your questions. If there is anything else I can help with please reply back to me otherwise thank you very much for visiting JustAnswer and I hope we will see you again in the future.