Right...

[msss]

A customer applies for a loan. The bank or its lawyers stuff up and put the wrong numbers on the loan offer documents that they send to you. Minor things, like the interest rate and a $500 application fee. You point this out.

What do you think would be good customer service?

(a) Correct the documents and send them out, with a nice letter apologising for the error.

(b) Correct the documents and charge your customer a fee for "requesting a change" to the loan offer?

Comments

[b-twin-1.livejournal.com]

Pffft. Naturally all bank managers/lackeys take tests where they are required to answer the above question. If they fail that question they don't get the job...... the correct answer is B. bleh.

I'd write them a letter.... (I wouldn't be expecting any change but it would make *me* feel better to *vent*!!)

[msss.livejournal.com]

LOL. That does explain it.

Our mortgage broker has agreed to pay the fee for us, since it appears to have arisen somewhere between him, the bank, and their lawyers.

[trixtah.livejournal.com]

FFS. Seriously, write the letter. Here's a linky to the PDF on the Financial Ombudsman site with contact details for internal disputes resolution for most financial institutions: http://www.fos.org.au/public/download.jsp?id=3365

Honestly, even if it's only 20 bucks, fuck 'em.

[msss.livejournal.com]

ING has a Complaint Resolutin officer, huh? Good to know, given we're signing up to deal with them for 30 years. The mortgage broker said he'll take care of the fee, so we're going to leave it for now. At least until they've handed over the money and we get the house keys...

[davefreer.livejournal.com]

Banks? B of course. They expect you to bend over and provide lubricants or do without.
Write them a letter and point that not only is that as they made the mistake all additional costs must be borne by them - I don't know Oz - but that is fairly normal. Include a bill, and an interest charge for late payment at their prime overdaft +2% for professional consultancy fees for fixing their error. They won't pay (my plumber buddy eventually had to take the bank to the small claims court to get his 'emergency call-out' paid.) But sending them harassing letters is quite fun ;-).

[msss.livejournal.com]

Of course! It would be normal for a business to take responsibility for its mistakes. Unfortunately, banks have these amazing contracts, which they can change at any time, where you pay all the fees that might ever arise for any reason.

We're going to leave it this time, since our mortgage broker is (justifiably) tired of the back and forth (us->broker->bank->lawyers->us->broker->bank->lawyers->us) and has agreed to pay the $250.

Eric's tossing up whether or not dealing with the bank directly would have been a good idea. Dunno. That way lies less leverage and possibly more frustration, but less links in the chain to fail...

[davefreer.livejournal.com]

Understandable. But it does beg the question - do you trust people that make these sort of errors and then are dishonest and make you pay for their error with a lot of money? Should - as the UK and US - your money go into bailing these guys out? Pay out savers yes. But keep the bank afloat? no. (and no. It would not be a disaster for mortgage lenders.)

[msss.livejournal.com]

Hell no. But then... I am professionally paranoid. I don't actually trust anyone, including the ones that are supposedly working for me. That's why my mind goes down these little backup plans... well, if that doesn't work, I can sue X, and if they weasel out of it because of that, then I'll sue Y, and if that doesn't work, there's Z...

Okay, that's not entirely true. I trust Eric.

[davefreer.livejournal.com]

(chuckle) I trust Eric too. A different Eric however. Perhaps they're all part the great secret Eric underground :-)

[jekni.livejournal.com]

As a former loans officer for the Commonasmuck Bank (OK, put down the slingshots....) I would be making sure that the Wank acknowledges their error instead of blaming you for it - regardless of who pays the fee. That kind of thing can come back to bite you big time in future days if there becomes some argument about any terms or conditions that may have changed - or that you want changed in the future: "But, according to our records, you've already requested and been granted one change to your loan offer therefore you're not eligible for {special offer on table}. I'm sorry but the bank cannot allow more than one change during the life of your loan and you've already had that." Just sayin'

[msss.livejournal.com]

Oh, they're already playing that card with the change offer fee. We can't waive that because we waived the application fee.

All their special offers are for new loans anyway, so we wouldn't be eligible. We can switch between any of the standard products at any time as long as we pay the fee. (A fee? Surprised? *grin*)

[17catherines.livejournal.com]

B, obviously, if you are a bank. I'm sorry, customer service?

Have they lost your deed of title yet, or are they waiting for settlement to do that?

[msss.livejournal.com]

I don't think they have it yet, so they can't have lost it. I'll put it on the list of things for them to do, along with demanding that we provide documents that we don't, y'know, have...

[17catherines.livejournal.com]

I suppose that does make it more difficult, yes. They lost mine when I was selling a few years back, but didn't bother mentioning this until settlement day...!