Bank Smart IMPORTANT UPDATE

[Tidyboy22]

Sorry. One more question
do I need to ask them to confirm cancellation in letter format to me when I send the email or should they do that as a standard reply? Just wondering if I need a hard copy from them to keep just incase anything come up in the future.

Thanks
Nathan

[EXC]

As my draft says, you inform them that cancellation of the claims would resolve the complaint so that's what they must confirm in their response. Their final responses to complaints are images of a letter pasted into an email, so are all you need as verification that the claims are cancelled.

See recent complaint response to someone below.

[Tidyboy22]

Email sent, I copied the text you put on Ur thread and added my client ID and name.

I have had a auto reply from support@bank-smart.co.uk shown below



Thank you for your email.

This is an automated acknowledgement. Please do not respond to this email.

We have support staff covering emails 24 hours a day, 7 days a week, to ensure that you receive a reply as soon as possible. We ask that you do not send multiple emails, or email multiple departments, in the meantime to avoid delays. Please ensure that this email address is added to your safe-senders list.

*** Given the current circumstances around the coronavirus outbreak it may take us longer than usual to get back to you however we are currently responding to 99% of emails within 3 working days ***

Kind regards,

Bank-Smart Support Team


COVID-19 UPDATE: Almost all lenders have stated they have now sent all final responses. If you have not forwarded us any final responses you should send them to FREEPOST BANK-SMART without delay. If there are any claims you have not received a final decision to and forwarded to us, please call the lender now and request a further copy to be sent to us/you and forward to FREEPOST BANK-SMART. Please continue to login to your Bank-Smart online claims account to keep up to date with the situation.

[EXC]

That's what I expected. You should gat a proper acknowledgment in a few days.

[Tidyboy22]

Hi EXC i have had a reply to the email I sent to bank-smart. Please see below, I have removed my personal info from them. Took them 3 days to reply. I hope this is a good sign.



Email from Bank smart



Dear
We confirm receipt of your recent correspondence in which you expressed your dissatisfaction with our service. We are sorry to learn that you have been dissatisfied with the service we have provided and can confirm that we will be conducting a thorough investigation into your concerns. Once we have completed these investigations, we will write to you again.

Please note that currently complaints are taking on average 3-7 weeks for us to provide a final response. Apart from a letter explaining if there will be a delay after 4 weeks you may receive no other communication from us regarding your concerns until that time, however we may continue to progress your claim(s) where failing to do so could cause them to be lost.

Please find enclosed a copy of our internal Complaints Procedure for your information. Please take time to read this as it explains how we will deal with your complaint and when we will contact you again.

During the complaints process (up to 8 weeks) we may not respond to your queries as to do so may affect the investigation, and invoices may be placed on hold awaiting the outcome of the investigation however we are unable to hold claims as this could be detrimental to the claims process. If you believe that your concerns do not require formal investigation and you would prefer to discuss and resolve the issue informally within 5 working days, please contact us at complaints@bank-smart.co.uk or by post to the address above. You can also provide a contact telephone number to discuss the matter during a recorded phone call. You will be assigned a senior claims investigator who will ensure that your concerns are dealt as quickly as possible. If we are able to resolve the matter informally, your complaint will be withdrawn.

You should note that if resolved informally your complaint will be withdrawn, and you will need to re-submit your complaint to us again should you be dissatisfied after the agreed resolution has come into effect.

If you would like to have your concerns addressed informally within 5 working days and withdraw your formal complaint, please contact us at complaints@bank-smart.co.uk or by post to the address above, and please provide a contact telephone number.

In the meantime, and if we do not hear from you, our investigations will continue. If you have any queries, please do not hesitate to contact me at complaints@bank-smart.co.uk quoting the reference above.





Yours sincerely




Paul Costelloe

Complaints Department

Bank-Smart Head Office | www.bank-smart.co.uk

[EXC]

Yep that's their standard acknowledgement response. Don't be taken in by the bull$hit about offering to resolve the complaint 'informally', they do that to keep formal complaints off their books and deprive you of your right to take it to the Ombudsman.

[Tidyboy22]

Hi.

Don't worry, not for one second was I fooled by that response. I'm going to stick with it and follow your instructions.

Will check back when I next year from them.

Thank you for Ur help so far

[Tidyboy22]

Next year from them*

[Tidyboy22]

Hear. I mean

[EXC]

No probs.

[EXC]

The FCA have imposed additional requirements on Bank Smart.

Give me a shout if you have any questions.

Requirements

1.1 The Firm is to write to all customers who have an outstanding invoice by 13 April 2023, which is 30 calendar days from the Effective Date, notifying them that the invoice has been cancelled and is no longer payable.

1.2 Any monies received by the Firm towards outstanding invoices on or after the Effective Date should be returned to source within 2 business days.

1.3 For the purposes of Requirements 1.1 and 1.2, an outstanding invoice is an invoice for any sums which is not commission payable to the Firm as a result of a successful claim.

1.4 For all claims which are in progress:

a. by 13 April 2023 the Firm will notify customers and the parties to whom their claims were presented that it is to cease carrying on the relevant activities and comply fully with the notification requirements set out in CMCOB 6.3.3R; and

b. by 13 April 2023 the Firm must send each customer all information and documentation the Firm holds relating to their claim(s).

1.5 In the absence of a waiver or modification approved by the Authority, unallocated and/or unidentified client money must be paid to the relevant customers or returned to source by 13 April 2023.

Effective Date

2.1 The Requirements are to take effect on the date that the Firm’s 30 day period to wind down its claims management activity begins under section 82 of the Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018.

2.2 The Requirements will remain in place from the Effective Date until varied or cancelled by the Authority.

[Tidyboy22]

Hi exc
just checking in to report it's been 9 weeks since I sent in my email of complaint to banksmart and had their reply on the 24th of January stating a 8 week wait for them to deal with my complaint.

I haven't received anything since from them.

Any advice please.

[EXC]

Hi exc
just checking in to report it's been 9 weeks since I sent in my email of complaint to banksmart and had their reply on the 24th of January stating a 8 week wait for them to deal with my complaint.

I haven't received anything since from them.

Any advice please.

Hiya

Well in theory the new FCA requirements should address your complaint, ie Bank Smart have to cancel any outstanding claims and inform you of such by 13 April anyway.

But just to be sure I would send a chasing email like the one below. Just include you client ID and name.

Dear Sirs

As you will be aware I made a formal complaint to you on 20 January. Although I received an acknowledgement from you on 24 January I have not received your final response which I should have received 8 weeks after the complaint was made.

Unless I receive your final response in the next 7 days I will file the complaint with the Financial Ombudsman without further notice.

[Tidyboy22]

Oh brilliant, I shall wait for a bit to see if bank smart send me any correspondence with that in mind first and if nothing I shall then send them the response to chasing my complaint.

Will let you know what happens

Thanks

[EXC]

Oh brilliant, I shall wait for a bit to see if bank smart send me any correspondence with that in mind first and if nothing I shall then send them the response to chasing my complaint.

Will let you know what happens

Thanks

As the Requirements state, you should receive something from them by today. If you log in to your online account you should see a series of links to all the documents for all of the claims but let me know on both.