What happens if Barclays refuses to compensate me?
If you are not satisfied with the way the bank has dealt with your problem, you can contact the Financial Ombudsman Service (FOS) free of charge.
It is an independent body that will consider the evidence you present and make a fair decision about the actions the bank should take.
The FOS can usually be involved 15 days after you have expressed your concern to the bank.
In the event of an IT system failure at a bank, the FOS says that compensation depends on your circumstances and whether you have lost as a result
If it thinks you are, then it has the power to tell the bank to reimburse you for any fees, charges or penalties you’ve been hit with, for example if you couldn’t pay your credit card bill or your mortgage provider.
It could also tell the bank to pay you any money you haven’t received, such as interest, if you haven’t been able to pay the money.
If it has affected your credit score, it can tell the bank to correct your credit file.
The FOS could also tell the bank to reimburse you for any extra costs you had to make, such as phone calls or trips to your local branch, as well as paying for any inconvenience it caused.
Categories: Optical Illusion
Source: HIS Education