Our financial investigator Jessica Gorst-Williams sets financial matters straight.
Sort code saga
At the time of the Tesco (Other OTC: TSCDY - news) sort code change, I was assured that the bank would automatically make the change internally. Obviously this information was erroneous and it appears that never did they have any intention of so doing.
I believe I am entitled to compensation for lost time and interest on monies which should have been received directly and automatically. AB Cheshire
In the summer of 2011, Tesco Bank moved accounts from the old RBS (LSE: RBS.L - news) system it had been using to one of its own. There was an interim period from June 2011 to March 2012 while the bank ran both the old and new sort codes concurrently to allow time for information to be updated. Then the old sort code was discontinued.
At this stage, because those you were receiving money from had not been informed of the changed details, unsurprisingly, electronic payments intended for you didn’t reach you.
Initially you had been told that all the administration to do with the switch would be done for you. Later, though, Tesco Bank corrected itself and advised you to inform the companies making payments of your new bank details yourself. You felt this was not your job.
You told me that you had contacted Tesco Bank 111 times about this. Tesco Bank has a record of 29 phone calls. Whatever the exact number of approaches, it seems excessive. Surely your energy would have been better harnessed by simply going direct to the companies concerned.
As a result of my involvement, Tesco Bank sent you a £50 gift card to apologise for giving you wrong advice at the outset. From now on, though, it was up to you to sort this out. Despite this, you still queried some payments and wrote to me about your disappointment that “the Tesco saga does not seem to have progressed as anticipated”.
Tesco Bank explained that all but one of the still disputed payments had been deposited in your account and advised you make sure the provider of the remaining one had the correct details. You retorted to me that some money had been returned by Tesco. More information on this has not been forthcoming so I feel it is now time to let the matter lie. When things get to such a rout, sometimes the best way forward is to change banks.
= Tracing policies =
Having recently seen one of your replies to a letter regarding an old insurance policy for which the correspondent could not trace the company, it brought to my mind a similar old policy which was found in my mother’s papers. Although I have tried to contact the Britannic at the address shown, I have had no reply.
I appreciate it is of little value, but I would be interested to know if they still have a record of this policy and where to contact them. IP Derbyshire
Britannic is under the umbrella of Phoenix Life, the address for which is 301 St Vincent Street, Glasgow, G2 5AB. Telephone 0845 305 5552.
Had you followed the advice in the response you refer to or used a search engine online you could have discovered this yourself.
As so many policies now come under its auspices, anyone wondering where an old policy is could do worse than to go to thephoenixgroup.com, choosing customer support and then under “happy to help” selecting the appropriate link for your product. If you are not sure which one this might be, there is also a policy finder tool.
Please address letters to: Jessica, Your Money, The Daily Telegraph, 111 Buckingham Palace Road, London SW1W 0DT.
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