Ombudsman complaint, kbc, credit rating destroyed

Tanky89

Hi guys and gals all non binaries,

New to boards and I have a question.
Recently i left BOI to go to kbc.
Its ended in disaster.
Back story, i was with boi since i was a teenager because they gave us mars bars and meenies lol. So suffice to say im in no way knowledgeable about bacnks accounts etc.

When i swapped to kbc it was under the illusion that all of my accounts, current and credit card would swap over all at once.

However, they have a seperate credit card application that i was never sent / wasnt clearly made aware of, and now my credit card has run overdue and my credit rating plunged from 523 to 50.

I have opened up a complaint with kbc.

I was sent two cards by them so assumed one was credit but they had set up two accounts in error and not let me know this so i had one live current account card and one defunct card.

I rand about this and i asked which was which and got told which was live and the other must be credit. Never that one wasnt live.

Also in the process of money transferring to kbc from boi current account, i rang and asked when the credit card wpuld swap over and they said it could be a bit longer, again not that a seperate form was needed.


Now i think they may have breifly mentioned some approval form in a conversation afterwards but that left me utterly confused so in my error i ignored that.


Where do i stand, am i doomed to have a ****e credit rating for 5 years now.

amcalester

How long were you not paying the amount due on the BOI credit card and how did you normally pay off your BOI card, was it by Direct Debit, bank transfer etc?

Did KBC handle the switch of your current account from BOI to them or did they just open the account?

Tanky89

I would always pay usually a bit on payday to maintain it as the interest is charged in a wierd cycle, three weeks.

Kbc were to handle the entire switch, all organised from a call and hard copy of identity docs brought into their hub/branch.

The credit card went over limit in one month essentially, i had used it for insurance this year so it was close to the limit unfortunately.

amcalester

Only a Direct Debit or Standing Order to your credit card would have switched over as part of the switch, one off payments don't (because you make those when you want to), that should have been explained to you by KBC.

Did you continue to make payments to your credit card while you were waiting for KBC to open you one?

How many payments did you miss on the card? It sounds like you only missed one, have you since paid the amount due?

Edit:

If you do want to make a complaint to the Ombudsman you'll need to first complain to KBC and exhaust their internal process before going to the Ombudsman.

Tanky89

**** i didnt know that, here is my problem i spoke to so many people noone explained this to me.

It looks as though two missed. I got a letter from BOI and had to set up their card care system for credit card holders that are not current account holders but that took a few days to sort as the kbc debit cards are actually mastercard so the boi system online wont take those, so the payment was made on the phone, its a big cluster****.

By the time i cleared the balance owed it had ran over the second 3 week period by about 3 days.

Boi sent out the letter maybe a week or so after it firat ran overdue.

I work in insurance so i have a rough idea what the complaints process is about. If it needs to go too the ombudsman whats my chances of having my rating black marks removed.

Boi told me once they have confirmation from kbc that an error occurred they can remove it.

amcalester

It's a few years since I worked retail banking but I have worked on a switching team and in branch management and if your complaint reached me I'd do all I could to get BOI to remove the marks, so I'd guess the chances are pretty good.

What it'll come down to is whether KBC think you were adequately informed about the need to keep making payments to your BOI credit card.

If you haven't already, I'd write a letter to KBC outlining what happened and what your desired outcome is. Then wait and see their response.

Tanky89

I just recieved the letter of confirmation for my complaint.
Should i call, email or as you advise write to them now?

amcalester

Just wait it out, they'll reply to you shortly and take it from there.

CeilingFly

Ombudsman will take 12 months.

It's easily corrected. Call bank of Ireland, give all the info and they should be able to correct the credit rating

A credit card is always a different account and as its a credit line it would always require a different credit approval process.

I think it's your misunderstanding that has caused the problem aided by the kbc error

Tanky89

Boi have said they would need confirmation from kbc that they cannot just remove those black marks just on my request.

Its probably 70/30, i have zero idea how switching works, i work in insurance so im bound by the same or similar regulations.

The product or process has to be explained in way that a client can understand and the institution has a fiduciary responsibility to provide the correct information from the start.

I have multiple emails from kbc and not a single one has a credit card application form.

When i got sent two cards, they never made contact to let me know one was in error and defunct, and twice on the phone their agents failed to notice or explain why i had a second card or that i needed a seperate credit card application.


Either way, even if the proportionate blame is a blatant 50/50, all it would take to resolve a destroyed credit rating is a quick letter to boi.


How long does a credit rating usually take to heal.

Fred Swanson

This post has been deleted.

Tanky89

Christ !!

The irony is i joined kbc because the clients i deal with (home insurance) say they are brilliant. 🀦*♂️

The plan was save for mortgage with them.

The only only hope is they contact boi to remove the bad marks.

I will go ombudsman if needed. Our ceo said in our yearly meeting they have a new ombudsman and with the various suspicions around insurance and the tracker mortgage scandal they are siding almost always with the client to force the point of compliance and customer service.

Fingers crossed.


Thanks for the replies folks.

Time

Tanky89 wrote: »

Christ !!

The irony is i joined kbc because the clients i deal with (home insurance) say they are brilliant. 🀦*♂️

The plan was save for mortgage with them.

The only only hope is they contact boi to remove the bad marks.

I will go ombudsman if needed. Our ceo said in our yearly meeting they have a new ombudsman and with the various suspicions around insurance and the tracker mortgage scandal they are siding almost always with the client to force the point of compliance and customer service.

Fingers crossed.


Thanks for the replies folks.

With serious issues like this it’s always worth putting in a DPA request for all the information KBC hold on you, and I mean everything, calls, notes, application forms the works. It’ll cost you €6.50 but you’ll have everything that backs up your story for the ombudsman, it also shows conpanies your serious about the complaint.

If you don’t get any satisfaction with the ombudsman, at the end of the day you always have the option to sue, I’d be surprised if a bank would contest such a case unless there was absolutely no mistake at all on their part.

amcalester

Time wrote: »

With serious issues like this it’s always worth putting in a DPA request for all the information KBC hold on you, and I mean everything, calls, notes, application forms the works. It’ll cost you €6.50 but you’ll have everything that backs up your story for the ombudsman, it also shows conpanies your serious about the complaint.

If you don’t get any satisfaction with the ombudsman, at the end of the day you always have the option to sue, I’d be surprised if a bank would contest such a case unless there was absolutely no mistake at all on their part.

A DPA request is a possibility but I’d wait for KBC to reply to the complaint first.

You aren’t the first person to have a switch go badly so I’d be surprised if KBC don’t do everything they can to make it right.

My only concern is that KBC might use your lack of understanding of the difference between debit and credit accounts as their get out of jail free card but if it was me responding to your complaint I’d write to BOI and explain the delay in receiving payment was due to the switch.

Tanky89

I think i have a slight advantage in that i had to make the complaint just to get them to hear my issue.

I still haven't been allowed the opportunity to even speak chronologically on the events that led to the complaints.

Also two calls i mentioned, one about the two cards i got and the other when i asked when the switch would happen.


They have tried to take advantage of my lack of knowledge and said i missed a call on the 14tb of an undisclosed month and thats why the error happened.

But the agent read out the note left on the account entirely and there was no mention of a credit card so i think they were fobbing me off.

It never even became an escalation, never spoke to a manager, the complaint was just logged by a regular agent!

The J Stands for Jay

Time wrote: »

With serious issues like this it’s always worth putting in a DPA request for all the information KBC hold on you, and I mean everything, calls, notes, application forms the works. It’ll cost you €6.50 but you’ll have everything that backs up your story for the ombudsman, it also shows conpanies your serious about the complaint.

If you don’t get any satisfaction with the ombudsman, at the end of the day you always have the option to sue, I’d be surprised if a bank would contest such a case unless there was absolutely no mistake at all on their part.

If you go to the ombudsman, you'll lose the ability to go to court, except the high court.

Time

McGaggs wrote: »

If you go to the ombudsman, you'll lose the ability to go to court, except the high court.

You aren’t obligated to accept the ombudsman’s ruling and depending on how much you sue for I don’t see why it couldn’t be dealt with at circuit court level?

The J Stands for Jay

Time wrote: »

You aren’t obligated to accept the ombudsman’s ruling and depending on how much you sue for I don’t see why it couldn’t be dealt with at circuit court level?

A Finding of the Financial Service Ombudsman is legally binding on both parties, subject only to appeal by either party to the High Court. A party has 21 calendar days from the date of the Financial Service’s Ombudsman's Finding in which to appeal to the High Court.

http://www.financialombudsman.ie/complaints-process/high-court-appeals.asp

Time

McGaggs wrote: »

A Finding of the Financial Service Ombudsman is legally binding on both parties, subject only to appeal by either party to the High Court. A party has 21 calendar days from the date of the Financial Service’s Ombudsman's Finding in which to appeal to the High Court.

http://www.financialombudsman.ie/complaints-process/high-court-appeals.asp

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