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About Me

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    1955-01-29
  • About me

    Started a Investment Portfolio at my local Westpac Branch 10 years ago. It actually lost capital value.
    Westpac are both unacceptably incompetent and arrogant at the same time. Out of space already

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Douglas

Douglas

How long does it take for the Financial Ombudsman Service to resolve a dispute? I have had a dispute with Westpac with them for over a year now. I occasional send a prodding email and all I get is that they need to hear both sides of the dispute.
- 6 months ago
  • Karma
  • Member since
    Tuesday, 20 December 2016 08:27
  • Last online
    5 months ago
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About Me

Basic Information

  • Gender

  • Birthdate

    1955-01-29
  • About me

    Started a Investment Portfolio at my local Westpac Branch 10 years ago. It actually lost capital value.
    Westpac are both unacceptably incompetent and arrogant at the same time. Out of space already

Contact Information

Education

Friends

    No friends yet

Groups

No joined groups.
  • Douglas replied to the topic How Long Does FOS Take in the forum
    Thanks for your response. It seems that you don't know how bad the banking industry is until you get caught up in a dispute. It seems that normal business ethics do not apply to the banks. It is interesting you mentioned documentation, I tend to be a bit of a hoarder, but I still could not understand why I had to produce documentation that surely the bank could provide. So should I find another avenue like ASIC?

    Read More...
    5 months ago
  • Douglas created a new topic ' How Long Does FOS Take' in the forum.
    Like the website but I am not sure where to go for assistance. I have had a dispute lodged with FOS over a Westpac investment portfolio for over a year now. I had several areas of complaint but only one has stuck. However, going through the process my remaining 'unresolved" issue has been passed on to an Ombudsman and has been there for several months now with no feedback. I have sent a prompting email and get the response that they need to hear both sides of the dispute. It seems to me that the banks are well practiced at avoiding scrutiny and long delays are part of that practice. Do you have any insight into whether FOS is ever likely to respond and if there is any way of moving things along in a beneficial way.

    Read More...
    5 months ago
  • How long does it take for the Financial Ombudsman Service to resolve a dispute? I have had a dispute with Westpac with them for over a year now. I occasional send a prodding email and all I get is that they need to hear both sides of the dispute.
    6 months ago
  • I started an investment portfolio at my local Westpac bank branch some 10 years ago. It actually lost capital value over that time. Over 10% of the portfolio was in listed property trusts which dropped to one third their original value straight after the GFC.
    7 months ago
    Douglas No comments. An article by Adele Ferguson in The Age some time ago suggested that ASIC was falling short by not pursuing the Commonwealth bank for this very thing. I want to know why not Westpac?
    7 months ago

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