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gilf_uk

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About gilf_uk

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  1. I'm slightly amused with the front page coverage of the outcome of the ASA's investigation......
  2. Absolutely agree. Forum asking if a guy should take a toothbrush to court, and other posters advocating illegal substances for people with addictions, and telling them to buy it off the net - exactly the same offence that landed the guy in trouble in the first place!! BONKERS!
  3. The IOM public will not end up out of pocket again, it will be local regulated entities, to the tune of at least £5mio. LGSF was an authorised scheme, hence the FSC intervention. The regulations levy contributions to the funds from managers and trustees of authorised schemes, but only AFTER a default. This means that a few other companies could go to the wall under the weight of the levy of contribution. Of course, I expect the IOM Govt will step in to fund any shortfall. From the report, there is at least 100 investors, so at least £5mio needs to be found. Extract from IOM Funds promotion site: Safe and secure This applies if a manager or trustee of an authorised scheme is unable to satisfy clients in respect of a civil liability incurred by them in connection with their business. The regulations also provide for the levying of contributions to the fund from managers and trustees of authorised schemes. Compensation is as follows: 100% of the first £30,000 90% of the next £20,000 with a maximum compensation of £48,000 To date no defaults have taken place and consequently the Compensation scheme has not been activated. This gives weight to the Financial Supervision Commission's contention that the licensing criteria and supervision regime presently in existence, contributes in no small way to the stability and reputation of the Island's fund industry.
  4. I'm not a customer of meteor, if I was, I would also be complaining. You can't say there are no roaming charges when you are still charges a roaming charge, albeit a lower charge. Anyway, we shall see what the ASA comes back with, it has been known for me to be wrong!
  5. Roaming is roaming is roaming. They do not differentiate in the headline or subheading between voice / sms / data - just roaming. And in any case - they say there are no roaming charges, which would imply that you can use you handset as you would do on-island - in any way - without charge. The offer and attached small print does not allow this.
  6. It says no roaming charges. There are roaming charges. It says pay the same as you do at home. You don't and you can't. There are rules and regulations about what you can say in the headline in an advert and then opt-out of in small print.
  7. Can someone please scan me a copy of the flyer that came through the door? I've already lodge a complaint with the ASA regarding the online adverts and happened to mention the flyer also. I was contacted today by one of the complaints handlers and she has asked for a copy of the flyer. If you can post on here in pdf / jpeg I'd be most grateful. The advert is misleading and some of the claims are false. Not to go into too much detail on here, you are still charged roaming charges, albeit reduced to outside allowance IOM rates. They say you can use in US an pay no more than you would (out of allowance rates) in the IOM, however in the small print it notes that data is actually £3 per mb when roaming in US, as opposed to the IOM rate of £0.50 per mb. The ASA cover UK and Islands and recently upheld (a single) complaint against Sure.
  8. Can someone please scan me a copy of the flyer that came through the door? I've already lodge a complaint with the ASA regarding the online adverts and happened to mention the flyer also. I was contacted today by one of the complaints handlers and she has asked for a copy of the flyer. If you can post on here in pdf / jpeg I'd be most grateful. The advert is misleading and some of the claims are false. Not to go into too much detail on here, you are still charged roaming charges, albeit reduced to outside allowance IOM rates. They say you can use in US an pay no more than you would (out of allowance rates) in the IOM, however in the small print it notes that data is actually £3 per mb when roaming in US, as opposed to the IOM rate of £0.50 per mb. The ASA cover UK and Islands and recently upheld (a single) complaint against Sure.
  9. gilf_uk

    Iom Bank

    I don't agree with you, it is very much real FX, with all the administrative, training, hedging, security and transport costs. As a customer of the IOM Bank. if I did have to use them for FX - I wouldn't. Their rates are piss-poor compared to both Thomas Cook and Post Office, which is reflective of their own costs. I imagine the amount of FX transactions have fallen of a cliff in the last few years, as people do more and more move to simply using their debit card to withdrawn cash in the country of destination, and credit cards for other purchases. If the IOM Bank could make money on the service, they would offer it. Clearly they are not wish is why they offer it to customers only. And that is key.
  10. gilf_uk

    Iom Bank

    Dale I'm with you on this matter. What you've experienced is a typical piss-poor attitude which is all too typical on the Island. Here in Switzerland every bank and post office branch will exchange Euro and US$, all restaurants and my local supermarkets will accept payment in euro. The IOM is its own worst enemy "allegedly experienced" I think that is is not unreasonable for banks in Switzerland to do so as they will have a much greater volume of transactions. What we are talking about is a loss making service, requested by a non-customer in a small bank branch, which doesn't offer the service. I feel sorry to Tom at IOM Bank who I have dealt with on many occasions and have always found to be professional, helpful and always willing to go the extra mile.
  11. gilf_uk

    Iom Bank

    Why didn't you ask your dad to exchange the money for you, as he is an IOM Bank customer? Both Thomas Cook and IOM Post office would have change it from EUR to GBP, so technically unless they told you to go specifically to an Isle of Man Bank branch in Douglas, they didn't mislead you. It is a fair assumption that by them telling you to go to Douglas, they were indicating that this was the largest town and therefore there would be more outlets who would be able to do the transaction as requested. I agree with Last Login in terms of the pinch of salt basis, and that fact that you seem to have a real issue over something so irrelevant, shown in that you were happy to spend your holiday arguing with hard-working bank staff and driving from branch to branch despite being told in the first branch it was a customer only service. Banks are there primarily to serve their customers. I don't think it is unreasonable for them to decide only to offer services to their own customers. I don't know any other industry where a loss making service would be offered to non-customer on a whim. Perhaps it was a euphemism for 'there's a boat in the morning' - well there is and they take Euro.
  12. gilf_uk

    Iom Bank

    The main reason is that cash is an expensive necessity for the banks, and the cost of securing, moving, auditing etc makes it all the more expensive. Add foreign currency to the mix, with low volumes of various currencies spread across a small banking network as well as FX risk, and it is quite possible that every FX transaction would be loss making for the bank. Clearly, they have taken the view that they are happen to carry a small loss, if it is for an existing customer but not just for any person that just walks in off the street. I think that is a fair proposition - I would not offer a service to a new customer if I was going to lose money on it, but I might consider doing it for an existing customer and absorbing the cost as I know in the long run I will make money from the customer. There is also the fact that there are far less people doing FX transactions in banks. Gone are the days when everyone took all their holiday money in cash and travellers cheques so the costs per transaction are much higher. I only use my debit card for taking cash out abroad and credit card for purchases. I don't get money in advance although I do tend to have EUR100 / CHF100 in my wallet all the time for ease, but when you land at an airport / arrive by train, there are always loads of cash machines. Also, the rate that you get from the bank for using your card is preferable to the cash FX rate. I took 50 EUR out this morning (I'm in France) and got 1.247 on the transaction, a quick check online at post office and it's offering 1.236. Just make sure you have an account which doesn't charge you an additional fee for withdrawing cash abroad (HSBC, for example). My suggestion would be that, in future, you shouldn't carry such large amounts of cash on you, for obvious safety reasons but also because this is a trend which is not going to reverse.
  13. I'd noticed that too, it would be unusual for a BA flight not to earn Avios. After all, you earn Avios on the slightly short MAN-LHR hop. Is it BA policy or just a programming issue I wonder? You can - 500 avois and 10 tier points each way. However, it wasn't loaded straight away and showed as 0 / 0 on all 4 of the flights I booked in the first couple of days after the launch. It's now updated however and is showing on all bookings and also on the 'collecting avois' calculator on BA.com.
  14. 15% http://www.ft.com/in...144feab49a.html 14.59%, if we want to get picky. But this means nothing, most of the airlines that compete and work in alliance hold a stake in oneanother, just look at IAG and their investments in other members of the oneworld alliance.
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