Questions Of Cash: Bank reverses error in your favour


Q. We are currently dealing with my mother-in-law's estate, of which my husband is executor and sole beneficiary. We have arranged for money to be transferred from several of her investments to my husband's account without charge. But NatWest is asking for a fee of £23.50 before making a transfer from her account. Can it do this?
TB, Gosport

Q. We are currently dealing with my mother-in-law's estate, of which my husband is executor and sole beneficiary. We have arranged for money to be transferred from several of her investments to my husband's account without charge. But NatWest is asking for a fee of £23.50 before making a transfer from her account. Can it do this? TB, Gosport

A. The fee is for a Chaps - Clearing House Automated Payment System - transfer, a guaranteed same-day electronic payment that is not needed in these circumstances. NatWest apologises and will do the transaction without charge. It says that an employee wrongly believed you wanted a Chaps transfer.

Q. I have recently received bills from OneTel for calls made in August, September and November last year. Can the company bill me this late? I can't trace anything in its terms and conditions permitting this. SC, Croydon

A. While this is irritating, there appears to be nothing wrong in what OneTel is doing. OneTel says that a data error caused it to fail to initially identify several calls made by you. It adds that its terms and conditions specify: "We will endeavour to bill customers for use of telephone services supplied by us within six months of such use."

While OneTel apologises to you for the inconvenience, it does not offer to write off the cost of the calls. OneTel is a member of the Otelo ombudsman scheme for telecoms providers. Otelo recommends that you contact it for the ombudsman to review your situation. While the question of late billing is not specifically within Otelo's remit, it says that it will consider whether OneTel has been reasonable in issuing late charges to you.

Q. I decided to transfer shares that I held with the stockbroker Selftrade to PADealing after Selftrade decided to initiate an "inactivity fee". PA stated that it did not charge an inactivity fee. I sent all the necessary forms and payment of £400, which was cashed by PA. But two months later, a dealing account had still not been opened. After I had complained to PA I received a letter from it confirming that it had received my payment, but still no account was opened.

I was unable to transfer my shares from Selftrade and had to pay the inactivity fee. I feel that I have been treated shoddily. MR, Northampton

A. The £400 that you sent to PA was a deposit to enable trading to begin on your behalf. However, PA says that Selftrade did not transfer your shareholdings to PA as it was charging a transfer-out fee, which had not been paid. PA has now reimbursed you in full with the £400 fee.

Q. I am a retired teacher receiving a half pension. I took advice from a local independent financial adviser and I now have investments in Skandia's Multipep fund and New Star Monthly Income. I also have holdings in a Cofunds Maxi ISA and a Cofunds PEP. These offer exposure to Invesco Perpetual High Income, Jupiter European and Jupiter Income. I have additional holdings in Jupiter Income and Newton Income, as well as in a Stirling Assurance Maxi ISA. My income from these investments is falling. Should I manage the funds myself, rather than give commission to the IFA? SM, by e-mail

A. Simon Creeber, of independent financial adviser Vale Insurance Services, says: "You can write to each provider and ask that they remove your current adviser as the servicing agent. But this will not result in your fund charges being reduced; instead, each fund manager will retain the ongoing commission normally payable to the adviser. The providers will not be authorised to give you advice regarding your investments. I suggest that you consider transferring your investments to a firm in which you have more confidence, or select an 'execution only' firm that will rebate some of the ongoing commission to you while offering only generic advice and recommendations. To find details of local advisers, contact IFA Promotions on 0800 085 3250; or visit www.unbiased.co.uk."

Q. Last year I took Capital Bank Motor Finance of Liverpool to court in Scotland because it refused to allow me to terminate a hire-purchase agreement, as was my right under the Consumer Credit Act 1974. The company's lawyer said it agreed the contract was terminated and it was not seeking more money.

The Sheriff agreed, but months later, debt collectors for Capital Bank began chasing me. I paid the debt collectors £700, which they accepted as full and final settlement, but I have since received a letter suggesting that I still owe more than £500. Capital still hasn't confirmed my obligation has been discharged. DF, Glasgow

A. Capital Bank, part of the Halifax Bank of Scotland group, presents a very different picture of the situation. It says you lost the court case, with the Sheriff accepting its argument that as you were in arrears you could not exercise your termination rights. You could surrender the van you bought, but you would still have to repay any arrears. Consequently, the outstanding debt of £1,245.61 still had to be paid. The bank told you it would accept a lump-sum of £617.75 as full and final settlement. As you paid this last October, you have no additional payments to make.

Questions of Cash is pleased to receive letters, but we cannot guarantee to respond to all queries and we cannot give individual advice. Please do not send original documents. Write to: Questions of Cash,The Independent, 191 Marsh Wall, London E14 9RS; cash@independent.co.uk

Independent Partners; request a free guide on NISAs from Hargreaves Lansdown

PROMOTED VIDEO
News
i100
News
Prince Harry is clearing enjoying the Commonwealth Games judging by this photo
people(a real one this time)
News
Richard Norris in GQ
mediaGQ features photo shoot with man who underwent full face transplant
News
Gardai wait for the naked man, who had gone for a skinny dip in Belfast Lough
newsTwo skinny dippers threatened with inclusion on sex offenders’ register as naturists criminalised
News
Your picture is everything in the shallow world of online dating
i100
Life and Style
Attractive women on the Internet: not a myth
techOkCupid boasts about Facebook-style experiments on users
Sport
Van Gaal said that his challenge in taking over Bobby Robson's Barcelona team in 1993 has been easier than the task of resurrecting the current United side
football
Finacial products from our partners
Property search
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

ES Rentals

    iJobs Job Widget
    iJobs Money & Business

    HR Business Partner - Banking Finance - Brentwood - £45K

    £45000 per annum + Benefits: Ashdown Group: ** HR Business Partner - Senior H...

    PA / Team Secretary - Wimbledon

    £28000 - £32000 per annum + Benefits: Ashdown Group: PA / Team Secretary - Mat...

    HR Business Partner (Maternity Cover 12 Months)

    £30000 - £34000 Per Annum 25 days holiday, Private healthcare: Clearwater Peop...

    Business Analyst - London - Banking - £400-£450

    £400 - £450 per day: Orgtel: Business Analyst - Credit Risk - Banking - London...

    Day In a Page

    The children were playing in the street with toy guns. The air strikes were tragically real

    The air strikes were tragically real

    The children were playing in the street with toy guns
    Boozy, ignorant, intolerant, but very polite – The British, as others see us

    Britain as others see us

    Boozy, ignorant, intolerant, but very polite
    Countries that don’t survey their tigers risk losing them altogether

    Countries that don’t survey their tigers risk losing them

    Jonathon Porritt sounds the alarm
    How did our legends really begin?

    How did our legends really begin?

    Applying the theory of evolution to the world's many mythologies
    Watch out: Lambrusco is back on the menu

    Lambrusco is back on the menu

    Naff Seventies corner-shop staple is this year's Aperol Spritz
    A new Russian revolution: Cracks start to appear in Putin’s Kremlin power bloc

    A new Russian revolution

    Cracks start to appear in Putin’s Kremlin power bloc
    Eugene de Kock: Apartheid’s sadistic killer that his country cannot forgive

    Apartheid’s sadistic killer that his country cannot forgive

    The debate rages in South Africa over whether Eugene de Kock should ever be released from jail
    Standing my ground: If sitting is bad for your health, what happens when you stay on your feet for a whole month?

    Standing my ground

    If sitting is bad for your health, what happens when you stay on your feet for a whole month?
    Commonwealth Games 2014: Dai Greene prays for chance to rebuild after injury agony

    Greene prays for chance to rebuild after injury agony

    Welsh hurdler was World, European and Commonwealth champion, but then the injuries crept in
    Israel-Gaza conflict: Secret report helps Israelis to hide facts

    Patrick Cockburn: Secret report helps Israel to hide facts

    The slickness of Israel's spokesmen is rooted in directions set down by pollster Frank Luntz
    The man who dared to go on holiday

    The man who dared to go on holiday

    New York's mayor has taken a vacation - in a nation that has still to enforce paid leave, it caused quite a stir, reports Rupert Cornwell
    Best comedians: How the professionals go about their funny business, from Sarah Millican to Marcus Brigstocke

    Best comedians: How the professionals go about their funny business

    For all those wanting to know how stand-ups keep standing, here are some of the best moments
    The Guest List 2014: Forget the Man Booker longlist, Literary Editor Katy Guest offers her alternative picks

    The Guest List 2014

    Forget the Man Booker longlist, Literary Editor Katy Guest offers her alternative picks
    Jokes on Hollywood: 'With comedy film audiences shrinking, it’s time to move on'

    Jokes on Hollywood

    With comedy film audiences shrinking, it’s time to move on