Banks don’t talk? The bank staff don’t answer letters? Their advertised material states that if there’s a discrepancy on the bank statement, to contact them…

But they don’t reply…

Certainly not what you expect from a bank.

Dealing with them, when banks don’t talk, can be such a hassle. It’s not just bad customer service, but this could potentially have financial implications too.

When you call “Customer service”, the voice at the other end refuses to fully identify themselves… Yet they want full ID from you before discussing anything…

If the people in the “Customer service centre” cannot be transparent over a simple matter (their name), how can you expect them to be transparent about any banking matters?

If they’re not willing to provide basic information, like the full name of the customer service representative, that’s a red flag and could be indicative of larger issues.

Aren’t both transparency and trust crucial when it comes to financial institutions?

Most banks have a complaints process. If you’re not satisfied with the outcome, you can contact a regulatory body.

In Australia, it’s Australian Financial Complaints Authority Limited (AFCA), a non-government company… Funded by the financial institutions through a “membership.”

AFCA take the side of the bank – AFCA states it can’t help, with issue of policies and procedures within the bank.Yet, isn’t AFCA’s purpose to help resolve issues with financial institutions?

If your current bank isn’t addressing concerns or providing adequate customer service, look for other options.

Your peace of mind and financial security are paramount.

Why can’t or won’t the bank supply audited accounts?

So you are ask to close the accounts… And discover that branch staff won’t discuss the situation, claiming the matter is “above their pay-grade.” It’s incredibly unprofessional for the branch staff to dismiss customer concerns like that.

Banks Dispute “Resolution”

If the branch staff won’t help, then it’s time to reach out to the bank’s regional or head office. Which meets with the same silence. Correspondence addressed to the Chief Executive Officer, is handed to the “Internal Dispute Resolution” (IDR) team.

One problem with this path, is the definition of “Resolution.”

The bank’s IDR decide that when the going gets tough, the matter is resolved, and close the case.

This situation just keeps getting worse.

Are you amazed that a bank can treat a customer this way?

“Main stream” advocates may suggest seeking legal advice. A lawyer who specializes in banking or consumer rights… Or suggest going public with your experience—perhaps by writing to your local newspaper or contacting a consumer rights organization.

Sometimes public pressure can make a difference where private correspondence fails.

Mean while the bank engage external lawyers who threaten to foreclose if the customer doesn’t pay the alleged “outstanding loan account balance.”

Here is where the story takes a turn…

Lawyers know that debt collectors need to prove the existence of an outstanding balance. The burden of prove is on the claimant.

Requests made to the bank, for certified and verified copies of audited accounts to support their claim, bear no fruit.

So the bank’s lawyers deny “ALL” customer claims – yet cannot verify the bank’s own claims.

The bank’s behavior is unacceptable…

And the action of involving external lawyers, making threats without providing proof of their claims, is deeply concerning. Without evidence of a debt, there is no claim.

So why the need to seek legal advice?

Don’t Talk? Stop Banks Payments?

If Banks don’t talk, why continue making payments to them, for a non-existent debt? Or an unverified “outstanding loan account balance?”

Almost three years pass, and the bank cannot (or will not?) substantiate their claim.

So why waste money to pay lawyers to do what the staff at the bank have already been asked to do?

But are you within your rights to refuse to pay until the bank can verify the debt?

[None of this is legal advice…]

Seeking legal advice isn’t necessarily about admitting wrongdoing. Rather, it’s about protecting “your rights” (whatever that means in the real world).

… And ensuring you making informed decisions in a complex and potentially contentious situation. Without being informed by the bank…

Apparently a lawyer can help navigate the legal process and understand your options! Including any potential risks or consequences of your actions.

They might provide guidance on how to best communicate with the bank and their lawyers, using “secret” legalese jargon.

One drawback to this path, is the possibility lawyers provide the “standard thinking-inside-the-box-answers.” Because all lawyers are members of the BAR.

So the lawyers do back-room deals to see how much money they can fleece their clients and still keep the bank happy… In a most productive and effective way to stitch you up, “settling” in the bank’s favour. Remember who the lawyers work for…

While it’s true that not all lawyers are the same. There are lawyers who specialize in representing individuals against large corporations and financial institutions.

Banks and Lawyers Deny Everything

No one can deny that such unethical practices do exist. They may not be the norm… And can be reported to the relevant legal authorities if you suspect them.

Finding a “no-win, no-fee” lawyer can be challenging, particularly for more complex or high-risk cases. Some law firms that specialize in banking disputes or consumer rights. They may offer any alternative fee arrangements, like a contingency fee. This means the lawyer only gets paid if you win your case.

Lawyers who work on contingency are selective in the cases they take on. Insurance claims are more common for “no-win, no-fee” lawyers.

Be aware that large corporations use delay tactics, hoping their victims will give up and cave in. And the bank will deny everything – and their lawyers will deny everything.

The UK Post Office isn’t a unique case… All corporations around the world operate the same way – and use law firms that also operate the same way.

So what is the “Achilles heel” to force the bank into action in your favour?

Courts and lawyers and judges tend to favour big banks over piddly little customers.

Large corporations and banks can use their power and resources to try to wear down individuals… And the [il]legal system doesn’t seem to favour the underdog.

Going public with your story can encourage action where private correspondence has failed. Consider reaching out to journalists, consumer rights organizations, or even starting a social media campaign to draw attention to your case. This tactic worked for (Sir) Alan Bates v Post Office.

Banks Don’t Talk, But Wait For You To Die?

With clear evidence that the bank has acted unlawfully or unethically, you could involve courts and lawyers.

Yet if public pressure made any difference to banks, they would all be out of business.

The royal banking commission shows Bank CEOs admit they commit fraud – but don’t care… Because they can afford a “slap on the wrist” fine of a measly $20m.

There’s many example of this, with executives seemingly getting away with presiding over massive frauds… and receiving hefty bonuses to boot.

It feels like an uphill battle trying to hold these institutions accountable.

Financial regulators are in the pockets of the banks (“don’t bite the hand that feeds you.”)

Politicians don’t care unless you are a member of their political party – they don’t want to “rock the boat” and upset their major supporters!

Continue to document your experiences, speak out publicly, and encourage others who have had similar experiences to do the same. The more voices that speak up, the harder it will be for those in power to ignore.

Is this what happens?  Banks don’t talk, so their best tactic is to wait for you to sell up or die?

This tactic is not uncommon for institutions with power and resources. They often rely on the assumption that individuals will become exhausted or give up over time.