Bank of Scotland Investment Mis-selling
Are you a current or former Bank of Scotland customer? Have you ever made an investment after receiving advice from a Bank of Scotland adviser? Are you dissatisfied with the advice you received? Did you end up losing money?
Claiming compensation from the Bank of Scotland for investment mis-selling
If you were mis-sold an investment, you may be entitled to claim for any losses. The success of a claim depends on your situation and what failings from the bank led to the investment mis-selling in the first place.
Feel free to contact us for an initial discussion, so we can find out more about your situation. You can tell us about your circumstances: what led to your Bank of Scotland investment mis-selling, the financial advice you received, and more.
More about Bank of Scotland investment mis-selling
In 2011 the bank was forced to pay out £17 million in compensation by the Financial Services Authority (FSA) for mis-selling investment plans to customers. The FSA also fined the bank £3.5 million for mishandling complaints relating to investment mis-selling. Evidence of mis-selling was uncovered as early as 2007, and there were also cases where exit fees and penalty fees hadn’t been fully explained.
Investment mis-selling is not the only financial scandal for which Bank of Scotland has drawn criticism. In 2012, the FSA hit the bank with another fine for £4.2 million relating to a failure to keep accurate records of mortgage payments. Errors were also found in the way standard variable rates were applied. Confidentiality breaches were at the heart of another fine, this time from the Information Commissioner’s Office. Bank of Scotland repeatedly released confidential documents to a third party over a three-year period. Despite warning the bank of its mistake, the third party continued to receive details of mortgage applications, personal accounts, and other private details.
How to reclaim from Bank of Scotland
We’re experts in making successful compensation claims as a result of Bank of Scotland investment-mis-selling. At the time of purchasing the product, did your adviser fully explain how your money would be invested?
- Do you feel the product was suitable?
- Were you fully informed of the risks and small print?
- Did you ever try to reclaim from Bank of Scotland and was your claim refused?
- Do you feel you weren’t given all of the information required to make an investment decision?
We’re dedicated to handling Bank of Scotland investment mis-selling claims. From stocks and shares ISAs to highly complex bond products, we have the expertise to get your money back.
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After sending a report to Santander, they agreed with our findings and awarded Mr Snowden an amount of £7,000 made up from a refund of the losses together with interest and compensation.
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I am so grateful to your company but especially to Steve Wise for getting me the money back
We reported our findings to Halifax and within a matter of weeks had secured our client the sum of £26,700 in compensation.
After we sent a detailed complaint to Halifax, Fred was delighted to receive £6,916 from the bank in a matter of weeks.
Having investigated the complaint Lloyds TSB agreed that the advice was unsuitable and agreed to pay the clients £10,000.