The Power of the Ombudsman



From: E L

We recently purchased a property with a bank we hadn't previously had dealings. The papers signed had the interest rate clearly stated. After settlement and a few weeks down the track we realised the interest rate we were being charged was higher than the agreed rate. Not a lot - but enough. It's our money after all!
Over a period of two months, there were numerous calls to the bank manager, call centre and head office, faxes, emails etc. All this proved fruitless.
So we sent off a letter to the Banking Ombudsmen. Up-shot is two and a half weeks later (over the Christmas period I might add), the issue has been totally resolved.
Lesson learned - don't underestimate the power of the Ombudsman!

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Reply: 1
From: Robert Forward

Congrates on the success.

If you are persistent and know your grounds you get what you want.

Good to see the use of this department that the government has set up actually working, not all of them do as we all know.


The Sydney "Freestylers" Group Leader.
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