Questions Of Cash: 'My banks did not recognise my new address'
Saturday 13 November 2010
Q. I moved to the Philippines and notified my banks, Lloyds and Halifax. The two repeatedly sent correspondence to my old address and even sent highly sensitive documents. Lloyds has made my account dormant, against my wishes. The Financial Ombudsman Service upheld my complaint, but I cannot get compensation paid. NL, the Philippines.
A. Despite being a problem that should have been simple to settle, this has taken several years and seemed intractable. The Ombudsman awarded you £150 from Lloyds and £125 from Halifax. Unfortunately, Lloyds stated for a long time it was unable to pay you this money because it had lost your original notification of your move to the Philippines and insisted that it could make the transfer only once it was formally advised (again) of the change of address. It has now accepted that the payment can be made – from both Lloyds and Halifax – into your previously dormant Lloyds account. Those payments have now been made.
Q. My 17-year-old daughter has a cash card account with the Nationwide. She has been told she cannot upgrade to a current account with a debit card. Can others offer current accounts with debit cards to under-18s? VS, Litchfield.
A. HSBC offers a full debit card facility on its MyAccount from age 13, while Santander and the Co-operative Bank offer current accounts with debit cards from age 16. Nationwide offers its FlexAccount to the over-16s, with a cash card that has most of the functions of a debit card, However, it does not allow customers to go overdrawn. Therefore the card can only be used for transactions providing the retailer can obtain confirmation that there are sufficient funds in the account.
Q. I opened a cash ISA with Marks & Spencer Financial Services a few months ago. At the beginning of September, I deposited a cheque of £1,000 from my building society account into the ISA. The cheque was returned because it was not endorsed as required. The guidance in the leaflet is that the building society must correctly endorse the cheque and that the account number and account holder's name be printed on the cheque by the building society: my cheque had both my name and the building society account number printed on it. I believe the instructions in the leaflet are incorrect and should be amended and I have lost interest as a result. TM, Weston-super-Mare.
A. A spokeswoman for Marks & Spencer Financial Services says: "The building society cheque was not suitably endorsed with [the reader's] building society account details. We require that a building society account number be either printed or handwritten on the cheque. In [the reader's] case, two account numbers were printed, neither of which could be confirmed as his. The reason for these checks is to ensure that the funds being invested are the customer's own." It says it will review its procedures in the light of your criticisms.
Q. I have just received my car renewal quote and it has doubled. I live in Liverpool L17 and the problem seems to be across all the city. I rang up the insurer, Sainsbury, and complained. They said there had been an increase in fraudulent claims. Is there anything I can do about this? I am a personal injury lawyer and I believe that insurers are hiking premiums to cover their investment losses. PM, Liverpool.
A. Sainsbury's Finance confirms that your car insurance premium has risen from £541.91 last year to £973.15 this year. Its spokeswoman says: "The increase is down to the increase in postcode rating. [This is caused by] the effect of adverse experience – ie high personal-injury claims experience from third parties when accidents occur which can have a dramatic effect on the premium – but it reflects our actual experience. We have to calculate premiums on the basis that the premiums we take in will cover the claims we pay out." It argues that despite the premium increase, its prices are competitive, and that it would cost you £1,100 to insure your car with a competitor, based on online price comparison website quotes.
Malcolm Tarling of the Association of British Insurers adds: "I am not aware of particular problems in Liverpool. It is true that the trend is for motor insurance premium rates to increase."
Questions of Cash cannot give individual advice. But if you have a financial dilemma, we'll do our best to help. Please email us at: questionsofcash@ independent.co.uk.
Independent Partners; request a free guide on NISAs from Hargreaves Lansdown
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
Sony hack: Angelina Jolie branded 'seriously out of her mind' in further embarrassing leaked email saga
Panic Saturday: 13 million Britons spend £1.2bn – while 13 million others across the country live in poverty unable to afford food
iJobs Money & Business
£43500 per annum + pension + holidays: The Jenrick Group: Night Shift Operatio...
£20000 - £25000 per annum + OTE £40,000 + Car + Pension: SThree: SThree are a ...
£20000 - £25000 per annum + OTE £35K: SThree: We consistently strive to be the...
£20000 - £25000 per annum + OTE £35000: SThree: SThree are a global FTSE 250 b...
Day In a Page
A three-bedroom villa with self-contained flat, minutes from Lake Windermere
A deceptively spacious, beautifully presented Georgian home with 3000sq ft of living space and five reception rooms
A five-bedroom Victorian home with four receptions, superb gardens and paddock in Pembury
An eight-bedroom house on the south side of the The Green with cinema, wine cellars and summer house
This 17th century beauty is full of rustic cosiness, while the detached home office means you can also run a business
This five-bedroom red-brick beauty overlooks the village green and sits in just under two acres of land
Four exclusive apartments in a Grade II-listed former medical school with 2,275 sq ft of living space and 18ft ceilings
A five-bedroom terraced house on the popular Peterborough Estate, ideally located for both Eel Brook Common and South Park
A state-of-the-art farm-building conversion on the former Cliveden Estate, with 11,420sq ft of internal space, cinema and wine cellar
A three-bedroom, 15th-century cottage with original features in the picturesque village of Sissinghurst
A six-bedroom terraced house with large south-facing roof terrace, cinema room and wine cellar
A new seven-bedroom home built in Queen Anne-style with swimming pool and parkland views in Mortimer
A listed, four-bedroom farmhouse in the rural hamlet of Rushall with detached barn, four acres of gardens and paddocks
A first-floor flat with two bedrooms, a spacious reception room and communal grounds in a leafy part of London
A three-bedroom flat with a spacious rootop terrace and balcony, accessed from a private gated courtyard
A Grade II-listed pile with six bedrooms, stables and 39 acres of grounds in Standlake
A two-bedroom flat with boutique hotel-style interiors, close to the foodie haunt of West End Lane
A two-bedroom flat in a beautiful old vicarage, with many original features, close to the city centre
A three-bedroom 16th-century home with an aga kitchen, private gardens and heated outdoor pool, in Hadleigh
A three-bedrom home in sought-after Queen's Gate Mews, with Italian marble-finished bathrooms
Surrounded by glorious countryside in the village of Udimore, sits this impressive four-kiln oast and barn conversion
A five-bedroom house in the picturesque village of Kettlewell, north Yorkshire
An 18th-century former coaching inn with original staircase, open fireplaces and beams throughout
A Grade II-listed Georgian town house with three bedrooms and a south-facing courtyard, near Arundel Castle
Feel on top of the world at this über chic penthouse on the 37th floor of one of Europe’s tallest blocks.
A Grade II-listed Victorian villa with six bedrooms and two further cottages, all with spectacular sea views
A grade II-listed, Georgian cottage with mature 50ft garden, perfect for summer entertaining
A magnificent Georgian pile with turrets, seven bedrooms, a heated pool and four acres of gardens
Fairoak Farm has five bedroom suites, gym, outdoor swimming pool and golf course
Chic two-bedroom river-fronted flat with a private lift that delivers you directly to your home
A spectacular seven-bedroom Tudor pile, once owned by Henry VIII, with 18 acres of land
A seven-bedroom Georgian property previously used as a picturesque wedding venue
A split-level flat in a church conversion with two en suite bedrooms and 1,200sq ft of living space
A three-bedroom bungalow situated behind an impressive stone wall, £645,000
Windsor Castle overlooks this three-bedroom Victorian cottage located on one of Windsor's smartest roads
Chapel House is a former vicarage with nine bedrooms in the beautiful Upper Wye Valley
A five-bedroom B&B and separate owner's accomodation with potential for conversion
Enjoy summer by the Thames in this two double-bedroom converted warehouse in Rotherhithe village
A one-bedroom, luxury apartment with private gym and concierge service in Moorgate
A four-bedroom house in Hermitage Gardens with three reception rooms and landscaped gardens