NSW How to work out the compensation

[Esperer]

Hi,

I have submitted a complaint to AFCA (ombudsman) regarding bank agreements (eg POA added to my savings accounts) done without my consent/presence. One of the complaint questions asked if I was seeking compensation. I answered: I have not decided yet. Usually, how do people work out the compensation amount?

Thank you

 

[Tim W]

You start by working out the numeric value of any loss.

If not you, then who added Power of Attorney to your account(s)?

 

[Esperer]

Is numeric loss the only compensation people ask for?

The bank staff & the POA did.

 

[Tim W]

Is numeric loss the only compensation people ask for?

What else is there?

The bank staff & the POA did.

How did the Power Of Attorney Holder come to be appointed?

 

[Esperer]

For example, compensation for:
My rights being violated.
Time for making a complaint.
Indirect financial loss (investment capital loss).
Psychological pain.


The bank’s POA signature from does not have my signature on it but has the POA’s signature on it. The bank still processed this form.

 

[Esperer]

I just received a copy of this form from my bank today. My accountant just told me that something might be hidden (ie a discrepancy between this copy & the original)