14-07-15, 11:05 PM
Hi,
I'm looking for some serious advice on what to do about a situation my father has found himself in.
He's 89 in August and suffers a wee bit of memory loss etc.
He went to his building society to withdraw his savings to get them all transfered into his current account at the bank.
BS gave him two cheques to value of approximately 50k, he took these to the bank immediately after leaving BS.
Financial advisor asked if he could help and proceeded to get my father to read various sheets of info and watch a video on a pc monitor in the bank, got to mention my father can't read unless he uses his easy read that increases the size and puts it onto his tv even then he struggles.
So long and short of it, guy at Bank has now put his 50k into a bond for 3yrs!
I found out about this by accident and duly went to the bank with my father to ask why they done this and was told "we asked your father if this is what he wanted, and went through various options but he said he wasn't interested in getting hold of the money, he just wanted it safe"
I asked why they didn't realise they were dealing with an old guy who can't walk, listen, or read properly? And why didn't they think to say, we should call your son, who they know as, I bank there too!
So now, after asking them to cancel it as we were told it had a 14day cooling off period, are being told we can't and was given wrong information, if he wants to cancel it now, they are charging £453 for the privilege.
So my dad has an bond account, which if he needs money, he'll be charged a hefty fee to take it out, admitted they said it goes down every month till the 3rd July 2018!
Yes, my dad has a current account which he gets his pension into etc and is more well off than I'll ever be, but I guess I'm asking....
Do you think this is right?
Could I get it sorted without the costs?
I know it's certainly not moral, but they are banks etc after all so I don't hold out much hope, but your advice and help would be really grateful.
Thanks,
Colin
I'm looking for some serious advice on what to do about a situation my father has found himself in.
He's 89 in August and suffers a wee bit of memory loss etc.
He went to his building society to withdraw his savings to get them all transfered into his current account at the bank.
BS gave him two cheques to value of approximately 50k, he took these to the bank immediately after leaving BS.
Financial advisor asked if he could help and proceeded to get my father to read various sheets of info and watch a video on a pc monitor in the bank, got to mention my father can't read unless he uses his easy read that increases the size and puts it onto his tv even then he struggles.
So long and short of it, guy at Bank has now put his 50k into a bond for 3yrs!
I found out about this by accident and duly went to the bank with my father to ask why they done this and was told "we asked your father if this is what he wanted, and went through various options but he said he wasn't interested in getting hold of the money, he just wanted it safe"
I asked why they didn't realise they were dealing with an old guy who can't walk, listen, or read properly? And why didn't they think to say, we should call your son, who they know as, I bank there too!
So now, after asking them to cancel it as we were told it had a 14day cooling off period, are being told we can't and was given wrong information, if he wants to cancel it now, they are charging £453 for the privilege.
So my dad has an bond account, which if he needs money, he'll be charged a hefty fee to take it out, admitted they said it goes down every month till the 3rd July 2018!
Yes, my dad has a current account which he gets his pension into etc and is more well off than I'll ever be, but I guess I'm asking....
Do you think this is right?
Could I get it sorted without the costs?
I know it's certainly not moral, but they are banks etc after all so I don't hold out much hope, but your advice and help would be really grateful.
Thanks,
Colin
Colin
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Ride fast, ride a red bike :-)
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Ride fast, ride a red bike :-)