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  • #1

    Compensation payments

    Hey all

    Do banks when giving you compensation have to pay this to you via either cheque or direct to bank?

    RBS have awarded £120 compensation but are refusing to pay this via cheque and want to use it to clear the debt...

    Thanks,

    TM


    TibetanMonk
    On Debt Row

    AAD has so much to offer and wants so little back. Take advantage while you can.
    Tags: account, arrears, banks, compensation, debt, fca, guidelines, pay, payments, rbs, reading, state
  • #2
    Re: Compensation payments

    I know cc use reclaims to take off a debt unsure about banks, but wouldn't be surprised x
    if you do it today and you like it you can always do it again tomorrow

    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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    • #3
      Re: Compensation payments

      I think it's just the luck of the draw TM.
      Let your smile change the world but don't let the world change your smile

      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

      Comment

      • #4
        Re: Compensation payments

        Unless its changed, they can only offset it against any debt if your payments are in arrears.
        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

        Comment

        • #5
          Re: Compensation payments

          Hey,

          After some debate and reading through the FCA guidelines that apparently state I have the option to either have compensation payments sent via cheque or credited to the account regardless of debt, and me advising RBS of this. They are sending me the cheque for £120.

          TM - 1
          RBS - 0

          Winning.

          TM


          TibetanMonk
          On Debt Row

          AAD has so much to offer and wants so little back. Take advantage while you can.

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