Expat Money Troubles – Who’s To Be Trusted?


An English friend here in Jakarta had a terrible time getting his work pension payments transferred here from The Old Country last year.

Eventually, when he was very ill, and his Indonesian wife was on the phone with the well-known international bank concerned, he shouted loudly –

‘If I just die, will that solve the problem?’

  • 'How am I going to check my email now..?'

    ‘How am I going to check my email now..?’

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  • Happily, he didn’t die, but one gets the impression from some financial institutions that we overseas customers are truly seen as a mere inconvenience.

Fidelity FundsNetwork on FCA complaints list

October 2016

 Fidelity FundsNetwork has been named alongside banking giants Barclays, HSBC and Santander in receiving the most investment-related complaints in the first half of the year.

http://www.portfolio-adviser.com/news/1031892/fidelity-fundsnetwork-fca-complaints-list

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High finance looks down on us mortals?

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And even back in Blighty, the snooty lords of high finance are often fairly cavalier in their dealings with small investors.  

I myself have had a few run-ins with people in The City who ought to know better than needlessly antagonise a cantankerous retiree of Ulster-Scots descent.

Sometimes I have won – amazingly, by the simple method of pointing out common-sense solutions which they appear to be incapable of noticing themselves – but if you can’t get it sorted, there’s always the good old advice –

‘Write to your MP!’

Oh-oh!

Thanks to Cameron’s failure to honour the Tory pledge to give expat Brits their votes back, anyone resident abroad for more than 15 years doesn’t have an MP!

Still subject to Inland revenue, of course – none of that nonsense about ‘no taxation without representation!’

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  • Cameron+and+Home+Secretary+Theresa+May+(L)+walk+through+Terminal+5+during+a+visit+to+UK+Border+Agency+staff

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Will Theresa May prove more honourable than her predecessor?

Wouldn’t be hard!

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However, there’s another option.

Here’s the details of the UK Financial Services Ombudsman, the body mentioned in the article above.

How to complain – Financial Ombudsman Service

They can’t solve everything, but it’s worth a try.

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Hasil gambar untuk the peacemaker gun

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And Canadians in such plights have an equivalent. 

OBSI – Ombudsman for Banking Services and Investments | OBSI

If expats from countries other than the UK and Canada have similar info for their fellow-citizens, please feel free to send them in as comments.