Bankers are looters in suits

[Grandad.Malky]

Good points but just to get a bit of perspective the activities of even lowly bank staff can have a devastating impact. My mum died last year and since I've been helping sort out my dad's finances. The amount of products and policies they were sold by their bank was unbelievable. I estimated it was taking almost 50% of their income to a point where they sometimes struggled to provide basics for themselves.

 

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I don’t know your parent’s age and I don’t want you to take this personally but if they didn’t know what they were doing shouldn’t you have been keeping an eye on them.

 

My mother is in her 80`s and would fall for any sales pitch put to her or any scam letter that comes through the post …….. for that reason we have been in control of her finances for the last few years.

 

At the opposite end of the scale my father in-law died leaving a financial mess because he had no life insurance, no funeral policy and a buddle of debt .

 

The staff have to push for business but I don’t recall anyone being forced to sign anything.

[I1L2T3]

I don’t know your parent’s age and I don’t want you to take this personally but if they didn’t know what they were doing shouldn’t you have been keeping an eye on them.

 

Late 60s/70s and on the face of it perfectly capable of handling their own finances. All of us had a close relationship with them but unfortunately they were intensely private and secretive about their finances. They seemed happy enough but none of the family had a clue what had really been going on. It was only after my mum died and we offered help my dad he told us they had been struggling with the bank.

 

Sure nobody held a gun to their heads but some of the financial advice they were given, and accepted in good faith, was appalling and predatory. Luckily my dad kept everything, all the letters and so far I've managed to get over £20,000 back for my dad without even having to resort to official complaints - the bank knows what happened was wrong. I just have to show them the letters and it's clear correct processes were not followed.

 

My point about that particular bank still stands. Predatory, poorly-trained staff. Nice enough people of course just following orders but involved in a rotten business. If you could spend a couple of weeks in my shoes dealing with this mess you would understand.