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He said, She said...

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  • 14-07-2006 7:28pm
    #1
    flexplate
    Closed Accounts Posts: 1 ✭


    Hi, I was hoping for some advice. I have an account with a certain institution that
    allows the funds to be invested for a 2 year period.
    That period ended in February, and rather than roll over for another 2 years; I requested
    (by phone) that it be changed to a 6month investment account.

    The rep assured me he would do it and I heard nothing further. Now it's coming to
    the end of the 6 months and they're saying it never happened. There's no record
    of the transaction (or the conversation).

    In hindsight, of course, I should have had it in writing.
    They are also saying that the rep should have sent me an application form etc.
    and in hindsight of course this makes sense. But when I spoke to him he
    made no mention of this and I took his word that he would do what we had spoken about.

    The upshot is they're willing to release the funds but without the interest I should
    have earned in the past 6 mothns (about EUR1000) which is considerable
    (to me at least).

    I realise I don't have a leg to stand on, but aren't a lot of these conversations
    recorded. What are my rights in obtaining the recorded conversations?
    Any advice?

    Of course, I've filed a complaint with the institution in question and if I get no
    satisfaction I'll go to the Financial Services Ombudsman but just wanted
    to see if anybody had a similar experience.


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    #2
    elivsvonchiaing
    Closed Accounts Posts: 1,575 ✭✭✭elivsvonchiaing


    Am currently filing with the ombudsman; don't expect anything for a while yet.

    My experience of financial institutions is this; a phone call/email/fax isn't worth a damn - you have to write.

    When they launch any product I'm fairly sure they figure % of letter writers product is aimed at.

    Write a letter; however, as less ranting as possible and this may change.

    The ombudsman may/may not resolve individual cases - if everyone writes - fairly sure they wouldn't cope with it - but this would need to include the most petty claims!

    If the ombudsman can't cope with it fairly sure we will have new legislation - so get writing folks.

    Or just sit on your arse and watch....

    (The fireworks may not start until we are both dead but who knows!)


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