Missed deadline and inconclusive evidence stymie customer complaint

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Missed deadline and inconclusive evidence stymie customer complaint

Categories:

Children's accounts,

Summary:

In 1997, Raphael began opening accounts on his daughters’ behalf. In 2006, and again in 2010, he became concerned the bank was not providing the most appropriate type of savings account. He was also unhappy at the bank’s failure to follow through on a commitment in 2020 to change his daughters' accounts. Furthermore, he said the bank had applied incorrect interest rates to his personal and family trust accounts.

Published:

August 2024

Our investigation

We told Raphael we could not consider his concerns about the type of accounts his daughters were given because the matter had passed our deadline, namely, that more than six years had passed since he should reasonably have been aware of the bank’s actions. As for the complaint that the bank had failed in its promise to change his daughters’ accounts in 2020, we could find nothing to say the bank had given such an undertaking. We also found no evidence the bank had failed to apply correct interest rates.