Packaged Account Fees

[di30]

Re: Packaged Account Fees

Hold on, it was only 8 days ago that they e-mailed you to say they were going to get back to Lloyds for the information on preferential rates. I can't believe that they did this, Lloyds located the information and responded with it and then the adjudicator made his decision all within 5 or 6 working days.

I'd get back to him and question him on this.

Arh right, just posted an email above about this, as the adjudicator emailed me today (Sunday)a bit late on getting back on my email sent about the above)!

[di30]

Re: Packaged Account Fees

Not had the chance to send the written information to the adjudicator yet, but did send the loan agreements on Friday and said I shall be sending the reasons on why we disagree with them, and strange that we receive an email today (Sunday) and she is now saying she has lots of information from Lloyds and us, and that she will be reviewing that will take a little time to review.

I never realised they would be working on a Sunday so they must be busy lol.

Dear

Thank you for your email.

I think I have all the information I need from both parties now - as both you and Lloyds have provided a lot of information, I will need time to review this properly.

I will update you again once I have reviewed the information and formed an opinion on the complaint.

Thank you for your continued patience.

Yours sincerely

Adjudicator

[di30]

Re: Packaged Account Fees

I am going to be cracking on with further details to send to the Adjudicator......

hope to get this with her by early part of the new week..........please wish me luck! Cheers. :tinysmile_twink_t2:

[di30]

Re: Packaged Account Fees

I am going to check an earlier email, because this was raised I'm sure of it (we been dealing with my complaint by email) that was my preferred method of contact. At least this way it's easier to track things down and even remind the adjudicator. (who seems to have missed a few of our points we made towards the complaint).

[EXC]

Re: Packaged Account Fees

Might be worth telling FOS then.

[di30]

Re: Packaged Account Fees

I'm sure we never did on any of them.....

[EXC]

Re: Packaged Account Fees

You must do.

[di30]

Re: Packaged Account Fees

Did we have to sign for a packaged account??

I'm sure this never happened......

[EXC]

Re: Packaged Account Fees

Indeed!

[di30]

Re: Packaged Account Fees

So in regards of her email yesterday, she states Lloyds was unable to provide her with the details, and I offered last week to send them then (way before a decision was made) so it goes to show she just assumes it would be more preferential without the evidence (that is telling me they trust the banks lol)!

Dear

In answer to your previous question, loan agreements would be helpful in that it will show the rate you received by having the gold account. However Lloyds is unable to provide me with details of the rate you would have had, if you had not held the gold account.

Yours sincerely

Adjudicator

[EXC]

Re: Packaged Account Fees

It's difference between rates you got with the paid for accounts and what you would otherwise have got with a free account at a given time because interest rates rise and fall over time.

[di30]

Re: Packaged Account Fees

I spose it's the difference between the rate you got with the paid for account and a free account but even if the rate was better with the paid for account you'd need to know by what degree in order to establish if you were better off or not.

Yes that sounds about right EXC, I just hope the Adjudicator sees it that way as well.

For example, I had a loan a few months down the line (GOLD) service after the gold package was sold to me, the rate of the gold loan was 14.9 Annual percentage rate, £5.500K.

A loan taken out during the Premier period was a loan over £5K at 20.00% per annum (Which I think is high for a premier account package) it says personal fixed rate loan,nothing about it being a special loan.

Yet the loan I had during the classic fee free account in the 90's was at 16.9% per annum percentage, lower than the gold but higher than the premier??
Hmmmmmm:tinysmile_hmm_t2:

[EXC]

Re: Packaged Account Fees

I have forwarded loan agreements to the adjudicator......

Now what would you call preferential? How would we know the difference if there wasnt one?

I spose it's the difference between the rate you got with the paid for account and a free account but even if the rate was better with the paid for account you'd need to know by what degree in order to establish if you were better off or not.

[di30]

Re: Packaged Account Fees

(sorry i know this thread is getting longer and longer)but I need to make sure that I'm doing everything right, as it may change the views on this before it goes to the Ombudsman.

Right basically I take it that a loan preferential rate should be lower than that of a higher annual percentage rate? is that correct does anyone know please?

For example, 20.00 percentage per annum compared to a 7.9 percentage per annum?

Thanks.

[di30]

Re: Packaged Account Fees

In June, the adjudicator sent an email to ask this this below......

Having reviewed this welcome pack I note that the gold account provided free extended warranty cover (for appliances costing less than £1,000) and purchase protection for any item purchased with a gold current account card over £50.

Please could you let me know if these benefits would have been of use to you when the account was upgraded. If they would not have been of any use, I would be grateful if you could explain why.

I look forward to hearing from you as soon as possible, and in any event no later than 26 June 2013.

I confirmed that we never actually received those actual details, but did receive welcome pack (that differed to her copy),anyway despite that I did also confirm that we already had that adequate cover and did so with the same covered products all the way to the end of 2003 with Lloyds TSB (separately) but at that time I could not find the details, now today I have found them and thought maybe it was still worth a try on sending the copy.