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RJM Law, Lawyer
Category: Law
Satisfied Customers: 3487
Experience:  LL.B (Hons)
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Can financial ombudsman overruled compensation amount from

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Can financial ombudsman overruled compensation amount from bank?
JA: Where is this? It matters because laws vary by location.
Customer: In Newcastle, UK
JA: What steps have been taken so far?
Customer: It takes 4 and half months to get my scam money back from Barclays and they sent me a letter saying £150 will be my compensation for my stress and hard time
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: Hello
JA: Hello. How can I help?
Customer: It takes 4 and half months to get my scam money back from Barclays and they sent me a letter saying £150 will be my compensation for my stress and hard time

Welcome and thank you for choosing our service, I will be the expert assisting you with this matter today.   I appreciate this matter is important to you and I shall try to resolve it as precisely and quickly as possible for you today.

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Customer: replied 18 days ago.
Thank you

Thank you for the question.  The financial ombudsman does have this power, however, they make decisions based on what is "fair and right".  People assume that they will receive large amounts of money for stress and hard time, but in reality this is simply not true.  Assuming you have received the money back you have lost, including any fees you incurred and the amount you were scammed from, then this may be seen as a fair additional amount.  However, if you do not feel this is fair, you can look at escalating the issue with the financial ombudsman, however, I must advise that in general these types of compensations are not large amounts of money.

Hopefully, I have answered your query in a way that is simple and easy to understand. If anything remains unclear, I will be more than happy to clarify it for you. In the meantime, thank you once again for using our services.

Should you require any further assistance on this matter, please do not hesitate to post a further questions for additional assistance.

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Customer: replied 18 days ago.
I just wondered should I take compensation from Barclays or to complain financial ombudsman about compensation I am going to receive
Customer: replied 18 days ago.
But the amount scam was over 30 K and it was Barclays fault, that's what I am trying to say

I would go back to them and say you don't feel it is enough and you are considering going to the FO, and see if they will offer you more, if this was their fault they may likely offer more.  However what you wish to accept is entirely up to you.

Customer: replied 18 days ago.
Ok thank you for your advice

I wish you all the best.

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