Misquoted ISA price when selling - advice

[wainy]

Made an enquiry into an old stock ISA value over the phone which was not really doing much, so was looking if I could take money out if the value was righg and use it for something.

Guy over the phone quoted me a value which was more than I though it was worth but based on that intructed to sell. However the cheque arrived and was less than quoted (couple of hundred quid). Enquired about value difference and told (after listening to call) that the original guy had got the wrong price and not much I could do about it cash it and gfet £20 as a "sorry".

So far told them to stick the cheque and they are going to re-instate it.

What rights do I have or further action I can take, going to talk to FSA on Monday as have letter now from them which clearly states they quoted wrong price and if I was given the "real" value I would not have sold up.

Any thoughts, is it really worth pursuing?

[anonymous-user]

After they re-instate the ISA, I Assume you will have the same number of units/shares?

If so save your ink, FSA will do nothing, and why would they.

Take your £20 and put it down to experience.

If your going to be out of pocket then crack on, but sounds like you wont be?

[Backtobasics]

Go after them, I work in financial services and without knowing the details I would expect you to be given the couple of hundred quid difference as a good will gesture. I had a similar issue a few months ago and got the value i was orignally quoted.

[cannedheat]

wainy said:

Made an enquiry into an old stock ISA value over the phone which was not really doing much, so was looking if I could take money out if the value was righg and use it for something.

Guy over the phone quoted me a value which was more than I though it was worth but based on that intructed to sell. However the cheque arrived and was less than quoted (couple of hundred quid). Enquired about value difference and told (after listening to call) that the original guy had got the wrong price and not much I could do about it cash it and gfet £20 as a "sorry".

So far told them to stick the cheque and they are going to re-instate it.

What rights do I have or further action I can take, going to talk to FSA on Monday as have letter now from them which clearly states they quoted wrong price and if I was given the "real" value I would not have sold up.

Any thoughts, is it really worth pursuing?

Going to the FSA will get you nowhere.

If the ISA company are going to re-instate your ISA, what more do you need doing? - maybe press for a larger 'saying sorry gift'.

If anything, you can raise an official complaint with the ISA provider and then, if not happy with the outcome, you can escalate to the Financial Ombudsman service but I cant see the point in this, especially if they've agreed to re-instate it.

[sidicks]

So someone makes a genuine mistake, they then offer to reinstate you in the position you were before the mistake occured, and they also offer a £20 goodwill gesture and you're still not happy?

Would you like them to send you a pint of blood and their first born child too?


Sidicks