December 2001 – The Financial Ombudsman has ruled that Britannia should compensate members who have TESSAs for not paying interest at the same level as ISAs. However, Britannia directors do not give in to mutuality too easily, they will only compensate those people who go through the complaints procedure. Those who do not complain will not be advised that they have been short-changed.
Our Comment – So much for mutuality at Britannia. If you have or had a Britannia TESSA be sure to check for compensation.
Nationwide (“Consumers’ Champion?”) directors are still holding out against playing fair and Norwich & Peterborough directors are going to fight it out in the high court.