Reasonable Recompense from a Bank, Suggestions?

  Cara2 16:58 27 Apr 2017

We have a business account and online banking. I use Sage Accounting.

For 10 days, I have been frazzled trying to reconcile Sage Accounting with my online account. My life has been on hold trying to get to the bottom of it. It has occupied both my time and my thoughts.

Amongst other things, I have downloaded numerous reports, restored my software to an earlier date and re-entered all the data and when that didn't work, I restored to an even earlier date but found re-entering all the data overwhelming. I have sat with friends comparing reports from Sage to the online account more than once. I have also appealed to an online forum for assistance. I began to think the only solution was that my software was somehow corrupt.

The error only came to light when my paper statement arrived in the post yesterday. The solution to my problem was for 10 days, 1 days transactions were not reflected online, although the balance itself was a true reflection. I had not made any mistakes imputing data after all.

It was a mixture of both immense relief and frustration that in fact the error was not mine but a glitch online which had taken the bank 10 days to spot and resolve.

I have been offered £50 recompense, which I feel is derisory. I have had a nightmare trying to resolve this. I still have Sage to get back up to speed as it has had to lag behind whilst I applied myself to the problem.

Had I not been preoccupied with this, I would have been hounding customers for late payments, when in fact, they had paid.

I have been asked what I would accept (they won't make me any more offers - it has to come from me) .. I have no idea what is reasonable, so any thoughts would be very welcome.

Incidentally, this problem was universal not just my account.

  wee eddie 17:21 27 Apr 2017

Bill them for your time.

That's what an Account or Lawyer would do.

Then, wait and see

  iscanut 21:19 27 Apr 2017

Bill them for your time. Yes but at what rate ?

  lotvic 21:32 27 Apr 2017

Bill them for your time at the usual rate you charge, plus an extra amount for the inconvenience they have caused to your business.

  Forum Editor 22:48 27 Apr 2017

It's not really appropriate for any of us to make suggestions about an amount, but a good starting point would - as wee eddie and lotvic have suggested - be to base the total on what you would have charged a customer for the amount of time you spent on this.

Your bank will be accustomed to these negotiations, and you should bear in mind that as far as I can see from what you have said you didn't suffer any financial loss. It has been hugely inconvenient, but that's a different matter. You are entitled to expect a reasonable response from the bank, but often different people have differing ideas about what is reasonable.

Good luck with the negotiation.

  wee eddie 23:00 27 Apr 2017

I'm sure that I don't really need to remind you that the first figure you mention will not be met, it must be realistic and on the generous side. They will reduce the figure but the lower you start the lower the settlement will be

  Cara2 01:18 28 Apr 2017

Thank you for all your replies. Nice to see some familiar names!

I find it quite an embarrassment talking recompense with a bank - outside my comfort zone, but I am totally satisfied recompense is due, and £50 offered doesn't even touch the time I have spent and stress endured to get to the bottom of the problem.

My difficulty is putting a value on what I do, as I don't have an hourly charge as such, as I do the accounts for the family business.

Your advice has bolstered me, so I shall bite the bullet, keep it reasonable but request what I feel is due.

Thanks once again. Much appreciated.

  Govan1x 09:23 01 May 2017

Hi Cara2. Insurance last year at this time. Bank this year. Wonder who it will be next year.

I do like your don't mess with me attitude.

  Forum Editor 11:58 01 May 2017


Cara2 has been with us for a very long time, and knows that sometimes you have to push to get a fair deal.

  Govan1x 12:37 01 May 2017

Forum Editor

Yes i have to say i admire her attitude towards getting fair compensation as I would probably have taken the first offer.

It just shows it pays to dig your heals in and get what you think you deserve and not some of the measly amounts that are sometimes offered.

  Cara2 13:56 01 May 2017

Fancy you recalling last year’s issue! This really is such a welcoming website �Yes, if something isn't right - I do have a rather determined streak and I have sought recompense over quite an array of issues including a type of perm which went disastrously wrong (well, that particular style was fashionable at the time!) and my hair fell out, to the most stressful of all - a business property which we purchased, an area of which turned out not to belong to us but to a very, very volatile neighbour who we really would not have chosen to enter into any kind dialogue with under normal circumstances, let alone a due to property ownership. This error was due to a simple land registry search not being carried by our solicitor as we had been renting for some time and a lot of assumptions had been (incorrectly) made. It took a long time to bring that one to a conclusion. We lost the land, but were compensated enough to do a good few repairs. (Actually, think I may well have mentioned that incident before on these forums). And of course, some issues are easily resolved … often it is how they are dealt with which takes the wind from the sails. And after all, we all make mistakes and that’s the end of the matter. But some things in life are so unnecessarily stressful. So, I do try to ‘pick my battles’ as to what is worthwhile getting involved in. But when I recall spending 10 wasted days of my precious time – including the Easter holiday, looking for an error which I would never find, as it did not exist, and the involvement of others trying to help, this one is an easy one to justify for recompense. We shall see how it pans out. Thanks for all the interest and replies. I am always grateful, never disappointed �/p>

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