I recently bought homeowners insurance through St George Bank. They made an error in processing and spelt my husband’s name incorretly. They then cancelled the insurance and re-issued, but took the full year’s payment twice. I battled for over a month to get the money refunded.
There was little interest on St George’s part and when I phoned the ombudsman, was told that St George had 45 days in which to refund the money, before I could actuallt make a complaint. So essentially they borrowed nearly $1000.00 from us, interest free.
We were refunded, after I created a huge fuss with St George, but reading their FB page, it seems this is not an isolated event. It came at a time we had quite a few bills, so I was not happy with funding St George (with no apology from them).
Why is there so little protection for something that was clearly not my error (telephonic arrangements for insurance) and how come the bank gets to borrow from unsuspecting customers, with no come back?
