Where is my £32,533, Halifax?

In 2005 my wife and I met a representative of Halifax to discuss our finances.

It was at the bank’s request. The representative advised us to each open what was described as a trust fund and suggested that our five grandchildren be named as default beneficiaries.

At the meeting we did ask whether the sums involved would be accessible. We were assured that they would be and that the money was ours.

My lovely wife died this year. After dealing with all the matters after this sad event, I made an appointment to sort things out with Halifax.

The person I saw was very good and sent the paperwork required and arranged for the joint current account to be in my sole name.

She also sent details of the funds. She was told that the bereavement department would get in touch and sort it out. Despite this and numerous telephone calls and letters there was no progress. JD, DORSET

At one stage you were worryingly told that the bank had no record of the trust fund, which you now wanted to cash in.

Further to my involvement, the paperwork was found. The calculation of the proceeds has also been based on the earlier, better price you would have received had this been actioned when you originally asked. This comes to £32,533, which has been put in your account.

The bank has also paid £416. This includes £350 for compensation, plus interest for the delay in receiving the payment so you are not disadvantaged.

A spokesman for Lloyds Banking Group, of which Halifax is part, said: “We apologise sincerely for the stress and inconvenience caused to Mr D at such a difficult time.

“It’s clear that there was an administrative mix-up on our part and that we failed to respond to his requests.”