Is bank liable?

[bradburnp]

Long story short - until recently have been unaware that two accounts with a bank have been compromised - because a fraudster changed the mailing address and obtained new cards and pin numbers and withdrew cash over 2 years ago. I had no idea!!!

The bank now say they have recognised it as fraud (and at least as potential fraud since 2011). They have been bombarding my equifax records with defaults and late payments ever since, and attempting to take money from my main account (which i only picked up as I happened on a pending payment during a particular day - the pending payment disappeared completely by day end).

It has now started to make sense why i have been refused for various loans and credit cards in the last couple of years.

As well as getting everything back to normal, is there an argument that i have been disadvantaged because of this then they should compensate me? (for example instead of having a loan to pay for wedding at a sensible rate, i've had to pay 20 percent on a card instead - which no longer offered my usual longstanding low rates to me presumably because of previously impeccable record). My current bank has removed my overdraft facility as another example.

I have involved FOS, but i hadn't even thought until now about the credit report because I have just taken a look at it online now and i am absolutely horrified by the sea of red within a world of green!!

Any advice?

[MissFM]

Re: Is bank liable?

bradburnp - help is at hand. But it's late and it may take sometime - don't worry!

[leclerc]

Re: Is bank liable?

Long story short - until recently have been unaware that two accounts with a bank have been compromised - because a fraudster changed the mailing address and obtained new cards and pin numbers and withdrew cash over 2 years ago. I had no idea!!!

The bank now say they have recognised it as fraud (and at least as potential fraud since 2011). They have been bombarding my equifax records with defaults and late payments ever since, and attempting to take money from my main account (which i only picked up as I happened on a pending payment during a particular day - the pending payment disappeared completely by day end).

It has now started to make sense why i have been refused for various loans and credit cards in the last couple of years.

As well as getting everything back to normal, is there an argument that i have been disadvantaged because of this then they should compensate me? (for example instead of having a loan to pay for wedding at a sensible rate, i've had to pay 20 percent on a card instead - which no longer offered my usual longstanding low rates to me presumably because of previously impeccable record). My current bank has removed my overdraft facility as another example.

I have involved FOS, but i hadn't even thought until now about the credit report because I have just taken a look at it online now and i am absolutely horrified by the sea of red within a world of green!!

Any advice?

Have you spoken to the bank? Have the bank admitted that it was fraudulent?
How did they get your account number and sort code?
Does the bank hold the original change of address form which would include a signature?
They should put you back into a position that had the fraud not happened then you should be made whole, but this is a very difficult thing to do because you have only been alerted once you were declined credit, is that right?

we need a little bit more information on this because I think some of the information is missing from your account if you have involved the FOS yet have not spoken to the bank.