Barclays made a mistake and owned up!


B

BrownLF

I have banked with Barclays for years. The last few have been difficult and
much of the time I have been a good investment for the bank as they have made a
fortune from me by way of charges for being overdrawn, bouncing cheques and
direct debits etc. I struggled but still got it wrong.

I have a Barclays mortgage and linked house insurance. A couple of days ago I
got another letter from the bank. For a change it wasn't about what I owed them
but what they owed me! The letter stated that following an audit it had come to
their attention that my mortgaged property had been "dually insured" with
Barclays Insurance Services and their Block insurance policy. They went on to
say that the block insurance policy is no longer in force and that they have
credited my account with a refund of premiums collected since January 1999!
This was just under £1900. They then requested that I accept their "sincere
apologies for this oversight and any inconvenience that may have been caused".
Don't ask why I didn't notice the dual insurance, I just didn't. In fact my
wife deals with the day to day finances but I know that's not an excuse.

My question concerns wether I have justification in asking for a refund of
charges levied on my current account for being overdrawn when in fact it may
not have been for a lot of the time if only the money that had mistakenly taken
had been in my account. I am talking about charges re unpaids, overdraft
charges etc going back to 1999. It's possible that some of the charges for
unpaid direct debits related to the insurance itself. In addition, what about
interest on the premium they have just repaid? They appear to have made a
refund with no consideration of interest on money they held.

They have very clearly accepted liability. Barclays is a group and includes
divisions dealing with banking, mortgages and insurances. Having said that
though, they are all part of the Barclays empire and it's not like I had
insurance with a completely separate organisation. Do I stand any chance in
making a claim for a greater reimbursement? Who should I claim from?

I could go back through my account statements and assess the amount due but of
course they would want to decide the amount for themselves if I did have a
valid claim.

All comments appreciated.
 
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T

Tumbleweed

BrownLF said:
I have banked with Barclays for years. The last few have been difficult and
much of the time I have been a good investment for the bank as they have
made a
fortune from me by way of charges for being overdrawn, bouncing cheques
and
direct debits etc. I struggled but still got it wrong.

I have a Barclays mortgage and linked house insurance. A couple of days
ago I
got another letter from the bank. For a change it wasn't about what I owed
them
but what they owed me! The letter stated that following an audit it had
come to
their attention that my mortgaged property had been "dually insured" with
Barclays Insurance Services and their Block insurance policy. They went
on to
say that the block insurance policy is no longer in force and that they
have
credited my account with a refund of premiums collected since January
1999!
This was just under £1900. They then requested that I accept their
"sincere
apologies for this oversight and any inconvenience that may have been
caused".
Don't ask why I didn't notice the dual insurance, I just didn't. In fact
my
wife deals with the day to day finances but I know that's not an excuse.

My question concerns wether I have justification in asking for a refund of
charges levied on my current account for being overdrawn when in fact it
may
not have been for a lot of the time if only the money that had mistakenly
taken
had been in my account. I am talking about charges re unpaids, overdraft
charges etc going back to 1999. It's possible that some of the charges for
unpaid direct debits related to the insurance itself. In addition, what
about
interest on the premium they have just repaid? They appear to have made a
refund with no consideration of interest on money they held.

They have very clearly accepted liability. Barclays is a group and
includes
divisions dealing with banking, mortgages and insurances. Having said that
though, they are all part of the Barclays empire and it's not like I had
insurance with a completely separate organisation. Do I stand any chance
in
making a claim for a greater reimbursement? Who should I claim from?

I could go back through my account statements and assess the amount due
but of
course they would want to decide the amount for themselves if I did have a
valid claim.

All comments appreciated.
AS you suggest, and given they have done it without prompting from you, how
about you write them a nice *polite* letter, pointing out the occasions when
you went over drawn and estimating that 'x' of them were due to this and
therefore you paid an additional 'y' in charges you otherwise wouldnt have?
Document the occasions (eg I went £50 over on such and such when I had paid
you £X (more than £50) for double insurance)
 
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B

BrownLF

Thanks for the reply. I'll try a nice letter. Nothing ventured, nothing
gained..........
 

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