Where is my £32,533, Hal­i­fax?

The Daily Telegraph - Your Money - - FRONT PAGE -

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.”

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