Complaining about the banks: A beginner’s guide to finding out you have no rights | World Development Movement

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Complaining about the banks: A beginner’s guide to finding out you have no rights

By Guest, 6 July 2010

Rosie Rogers, used to be campaigns and policy intern

Bright-eyed and ready to save the world in one internship, I was ready to take on any challenge! As part of our new commodities campaign. I was asked to find out how to complain about Goldman Sachs (GMS). A simple task I thought…

FSA: "You have no rights"

First stop, the Financial Services Authority (FSA). I called the general enquiries number and was met with a friendly 'customer services' handler who was happy to answer my questions, but kept asking who I worked for and where I was calling from - my poker voice served me well!. I was told that the FSA don’t deal with formal complaints and that since I’m not a GMS customer, I 'have no rights'.

I was advised to make a formal complaint with GMS, then they had 8 weeks to respond and if the response was not satisfactory, I should take my case to the Financial Ombudsman Service who was ‘better equipped to deal with complaints’. I then stated to my previously friendly FSA buddy – who was now slightly fed up – that it’s ridiculous that only customers have rights, to which he reeled out some standard FSA statement about what the FSA can and can’t do. I was sent a standard leaflet on how to make a formal complaint and sent on my way.

Disheartened but not defeated, next on my hit list was the Financial Ombudsman Service (FOS)

FOS: "There’s not much we can do"

Again with only the general enquires line on offer, I was greeted by another friendly (to begin with) customer services employee. They reiterated the FSA’s statements but with the added dimension that banks can invest their money in whatever they choose to and if I don’t agree with their ‘commercial decisions’ then the most I can do is choose to not invest my money in that Bank. I protested that GMS is not a high street bank so what is the most effective way to make a complaint? I was told that all banks must have a formal complaints process and that was the best route to go down, but that 'if I wasn’t a customer of the bank, there’s not much we can do'.

Now I had bigger fish to fry. Goldman Sachs.

Goldman Sachs: "No comment"

With only one contact number on the whole UK website I dialled and began to sweat a bit… I was surprised to find Goldman’s phones being answered by Catherine Tate’s Lauren "am I bovvered?" Cooper. I said I wanted to make a formal complaint and the receptionist said "no one has ever complained before, what do you want to complain about, who are you working for? Are you a journalist?" I said I was a concerned member of society and just wanted to know who I could talk to about making a formal complaint.

The receptionist and I then got into a repetitive table tennis match of her not knowing what to do, asking colleagues and trying to find out who I worked for and me being the intern sleuth that I am, simply asking 'how do I make a formal complaint?' over and over.

She eventually shouted at me in her Tate-esque manner "Look, what are you actually calling me for? What is it that you are actually complaining about? I don’t know what to do!" I, cool as a cucumber, asked her kindly to stop shouting at me – all I want to do is speak to someone about complaining about GMS. The line went dead.

Of course, I phoned again and a different receptionist answered (to which I pointed out the last receptionist hung up on me or that GMS should get a technician in as they have a faulty phone connection…) I was then passed onto four different people and called back three times that day by a kindly-sounding woman from the media department, and was told to write to the Head of Compliance to make a complaint – but that there is no way for 'outsiders' to make complaints about Goldman Sachs.

Bank of England: "We’re powerless"

In light of the ConDem strategy to hand power of bank regulation to the Bank of England (BoE), I decided to give them a go. I called the general enquiries number and was told that the BoE stopped regulating banks in 1998 and, that the FSA was the main body to speak to, and that the Bank is "powerless". They also said that all investment banks registered in the UK must have a complaints structure, overseen by the FSA licensing team.

FSA part 2: "It’s a shame banks can’t be monitored"

With my army of new information and determination I phoned the FSA to state GMS had no formal complaint mechanism. A lovely woman answered and told me that as a member of the public I do have the same rights as a consumer to make a complaint – but that GMS are not obliged to respond. She reiterated that GMS must have a complaint procedure for customers and that the FSA only deal with complaints from consumers not the general public. I thanked her and she ended our conversation with a sentence I could only dream of…"Sorry I cant be of more help, it’s a shame banks cant be monitored properly"

I think that says it all.

Chwilowki, gdy grono pokonac w postac.

Dziwilismy sie czy zasoby sily roboczej zdaja sobie sprawe z tego, kiedy ryzykowne jest poleganie na programie zaopatrzenia emerytalnego. Podstawowy bojazn Roberta dotyczyl rosnacej luki posrodku tymi, co maja oraz tymi, co nie maja – w Ameryce tudziez na swiecie. Bedac samoukiem natomiast biznesmenem wlasnego chowu, kto podrozowal dookola swiata skladajac osobisty firma w zespol, Robert byl w stanie przebyc w postac spoczynku w wieku 47 lat. Powodem, w celu ktorego powrocil az do aktywnosci, jest ten juz sam obawa, kto ogarnia mnie w stosunku do moich dziatwa. pożyczki na dowód. Tedy jest glupota rzec dziecku: "Zdobadz dobre wyksztalcenie" – powiedzial. – Niemadrze jest zakladac, ze wyksztalcenie, ktorej dostarcza platforma oswiatowy przygotuje nasze przychowek do swiata, sposrod ktorym spotkaja sie po ukonczeniu szkoly. Kazde dziecko potrzebuje wiecej edukacji. Roznej edukacji. Dzieci musza tez znac reguly. Drugi klasa regul.

Complaining about the banks: A beginner’s guide to finding

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If you have any recommendations, please let me know. Thank you! Hi! This is my first comment here so I just wanted to give a quick shout out and say I genuinely enjoy reading through your articles. Can you recommend any other blogs/websites/forums that deal with the same topics? Appreciate it! Do you have a spam issue on this site; I also am a blogger, and I was curious about your situation; we have developed some nice methods and we are looking to exchange techniques with other folks, please shoot me an email if interested. Please let me know if you're looking for a writer for your blog. You have some really great articles and I believe I would be a good asset. If you ever want to take some of the load off, I'd really like to write some material for your blog in exchange for a link back to mine. Please blast me an e-mail if interested. Many thanks! Have you ever thought about adding a little bit more than just your articles? I mean, what you say is valuable and everything. But imagine if you added some great pictures or videos to give your posts more, "pop"! Your content is excellent but with images and clips, this blog could undeniably be one of the best in its field. Terrific blog! Nice blog! Is your theme custom made or did you download it from somewhere? A theme like yours with a few simple adjustements would really make my blog jump out. Please let me know where you got your theme. Thank you Hi would you mind sharing which blog platform you're using? I'm planning to start my own blog soon but I'm having a difficult time choosing between BlogEngine/Wordpress/B2evolution and Drupal. The reason I ask is because your layout seems different then most blogs and I'm looking for something unique. P.S Sorry for being off-topic but I had to ask! Hey just wanted to give you a quick heads up. The words in your article seem to be running off the screen in Safari. I'm not sure if this is a formatting issue or something to do with web browser compatibility but I figured I'd post to let you know. The design look great though! Hope you get the problem fixed soon. Cheers With havin so much content and articles do you ever run into any problems of plagorism or copyright violation? My blog has a lot of unique content I've either authored myself or outsourced but it appears a lot of it is popping it up all over the internet without my authorization. Do you know any methods to help stop content from being stolen? I'd really appreciate it. Have you ever thought about writing an e-book or guest authoring on other sites? I have a blog based upon on the same information you discuss and would really like to have you share some stories/information. I know my viewers would value your work. If you're even remotely interested, feel free to send me an e mail. Hi there! Someone in my Myspace group shared this website with us so I came to take a look. I'm definitely loving the information. I'm book-marking and will be tweeting this to my followers! Outstanding blog and fantastic design. Amazing blog! Do you have any hints for aspiring writers? I'm planning to start my own website soon but I'm a little lost on everything. Would you suggest starting with a free platform like Wordpress or go for a paid option? There are so many options out there that I'm completely overwhelmed . . Any tips? Cheers! My developer is trying to convince me to move to .net from PHP. I have always disliked the idea because of the expenses. But he's tryiong none the less. I've been using Movable-type on several websites for about a year and am nervous about switching to another platform. I have heard very good things about blogengine. net. Is there a way I can import all my wordpress content into it? Any kind of help would be greatly appreciated! Does your blog have a contact page? I'm having problems locating it but, I'd like to shoot you an email. I've got some ideas for your blog you might be interested in hearing. Either way, great site and I look forward to seeing it develop over time. It's a pity you don't have a donate button! I'd definitely donate to this fantastic blog! I suppose for now i'll settle for bookmarking and adding your RSS feed to my Google account. I look forward to fresh updates and will share this site with my Facebook group. Talk soon! Greetings from Colorado! I'm bored to death at work so I decided to check out your blog on my iphone during lunch break. I love the knowledge you provide here and can't wait to take a look when I get home. I'm shocked at how fast your blog loaded on my phone .. I'm not even using WIFI, just 3G .. Anyhow, very good site! Howdy! I know this is kinda off topic however , I'd figured I'd ask. Would you be interested in trading links or maybe guest authoring a blog article or vice-versa? My website covers a lot of the same topics as yours and I feel we could greatly benefit from each other. If you might be interested feel free to shoot me an e-mail. I look forward to hearing from you! Terrific blog by the way! At this time it seems like Movable Type is the top blogging platform available right now. (from what I've read) Is that what you're using on your blog? Outstanding post however , I was wondering if you could write a litte more on this topic? I'd be very grateful if you could elaborate a little bit further. Kudos! Hey there! I know this is kinda off topic but I was wondering if you knew where I could find a captcha plugin for my comment form? I'm using the same blog platform as yours and I'm having problems finding one? Thanks a lot! When I initially commented I clicked the "Notify me when new comments are added" checkbox and now each time a comment is added I get several emails with the same comment. Is there any way you can remove me from that service? Thanks a lot! Greetings! This is my first visit to your blog! We are a team of volunteers and starting a new initiative in a community in the same niche. Your blog provided us useful information to work on. You have done a wonderful job! Hey! I know this is somewhat off topic but I was wondering which blog platform are you using for this site? I'm getting fed up of Wordpress because I've had issues with hackers and I'm looking at options for another platform. I would be awesome if you could point me in the direction of a good platform. Howdy! This post could not be written any better! Reading through this post reminds me of my previous room mate! He always kept talking about this. I will forward this article to him. Fairly certain he will have a good read. Thanks for sharing! Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point. You obviously know what youre talking about, why waste your intelligence on just posting videos to your site when you could be giving us something informative to read? Today, I went to the beach with my children. I found a sea shell and gave it to my 4 year old daughter and said "You can hear the ocean if you put this to your ear." She put the shell to her ear and screamed. There was a hermit crab inside and it pinched her ear. She never wants to go back! LoL I know this is totally off topic but I had to tell someone! Today, while I was at work, my cousin stole my iPad and tested to see if it can survive a 40 foot drop, just so she can be a youtube sensation. My apple ipad is now destroyed and she has 83 views. I know this is totally off topic but I had to share it with someone! I was curious if you ever considered changing the structure of your website? Its very well written; I love what youve got to say. But maybe you could a little more in the way of content so people could connect with it better. Youve got an awful lot of text for only having 1 or two pictures. Maybe you could space it out better? Hi there, i read your blog from time to time and i own a similar one and i was just wondering if you get a lot of spam remarks? If so how do you reduce it, any plugin or anything you can suggest? I get so much lately it's driving me insane so any support is very much appreciated. This design is steller! You obviously know how to keep a reader entertained. Between your wit and your videos, I was almost moved to start my own blog (well, almost. ..HaHa!) Excellent job. I really enjoyed what you had to say, and more than that, how you presented it. Too cool! I'm really enjoying the design and layout of your site. It's a very easy on the eyes which makes it much more pleasant for me to come here and visit more often. Did you hire out a designer to create your theme? Superb work! Hey! I could have sworn I've been to this website before but after checking through some of the post I realized it's new to me. Nonetheless, I'm definitely delighted I found it and I'll be book-marking and checking back often! Good day! Would you mind if I share your blog with my zynga group? There's a lot of people that I think would really enjoy your content. Please let me know. Cheers Hello, I think your site might be having browser compatibility issues. When I look at your website in Opera, it looks fine but when opening in Internet Explorer, it has some overlapping. I just wanted to give you a quick heads up! Other then that, great blog! Wonderful blog! I found it while browsing on Yahoo News. Do you have any tips on how to get listed in Yahoo News? I've been trying for a while but I never seem to get there! Thank you Hello! This is kind of off topic but I need some help from an established blog. Is it difficult to set up your own blog? I'm not very techincal but I can figure things out pretty quick. I'm thinking about creating my own but I'm not sure where to start. Do you have any tips or suggestions? Thank you Hello there! Quick question that's entirely off topic. Do you know how to make your site mobile friendly? My site looks weird when browsing from my apple iphone. I'm trying to find a theme or plugin that might be able to correct this issue. If you have any recommendations, please share. Thank you! I’m not that much of a online reader to be honest but your sites really nice, keep it up! I'll go ahead and bookmark your site to come back in the future. Cheers I love your blog.. very nice colors & theme. Did you design this website yourself or did you hire someone to do it for you? Plz reply as I'm looking to design my own blog and would like to know where u got this from. kudos Whoa! This blog looks exactly like my old one! It's on a entirely different subject but it has pretty much the same layout and design. Superb choice of colors! Hello just wanted to give you a brief heads up and let you know a few of the pictures aren't loading correctly. I'm not sure why but I think its a linking issue. I've tried it in two different browsers and both show the same results. Heya are using Wordpress for your site platform? I'm new to the blog world but I'm trying to get started and set up my own. Do you require any coding expertise to make your own blog? Any help would be greatly appreciated! Hey there this is kinda of off topic but I was wondering if blogs use WYSIWYG editors or if you have to manually code with HTML. I'm starting a blog soon but have no coding knowledge so I wanted to get advice from someone with experience. Any help would be enormously appreciated! Hi! I just wanted to ask if you ever have any trouble with hackers? My last blog (wordpress) was hacked and I ended up losing many months of hard work due to no data backup. Do you have any methods to prevent hackers? Hi! Do you use Twitter? I'd like to follow you if that would be okay. I'm definitely enjoying your blog and look forward to new updates. Howdy! Do you know if they make any plugins to safeguard against hackers? I'm kinda paranoid about losing everything I've worked hard on. Any suggestions? Hi! Do you know if they make any plugins to assist with SEO? I'm trying to get my blog to rank for some targeted keywords but I'm not seeing very good gains. If you know of any please share. Thank you! I know this if off topic but I'm looking into starting my own weblog and was curious what all is needed to get set up? I'm assuming having a blog like yours would cost a pretty penny? I'm not very internet savvy so I'm not 100% sure. Any suggestions or advice would be greatly appreciated. Appreciate it Hmm is anyone else experiencing problems with the pictures on this blog loading? I'm trying to figure out if its a problem on my end or if it's the blog. Any suggestions would be greatly appreciated. I'm not sure why but this blog is loading very slow for me. Is anyone else having this issue or is it a problem on my end? I'll check back later on and see if the problem still exists. Hi! I'm at work surfing around your blog from my new iphone! Just wanted to say I love reading through your blog and look forward to all your posts! Keep up the outstanding work! Wow that was unusual. I just wrote an really long comment but after I clicked submit my comment didn't show up. Grrrr... well I'm not writing all that over again. Regardless, just wanted to say great blog! Visit my homepage ... leonisawesome.com

Complaining about the banks: A beginner’s guide to finding

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GMS

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you have to be a banker to

you have to be a banker to complain about a banker. love it!

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