Prize Bonds - Can A Statement of All Activity Be Obtained from Fexco?

Hello,

I'm having some trouble with Fexco, regarding obtaining information on my late father's Prize Bonds.

Can they be compelled to provide a transaction statement, showing all Prize Bonds that he purchased, or later sold?

As things stand, they claim he had none, and that they've no record of him ever holding any Prize Bonds - despite the fact that I've sent them several hundred euros worth of their own cheques, which they issued to my late father, over time, as prizes.

These same "geniuses" have previously asked for a Power of Attorney, signed by a dead man, and insisting they can't speak with me, or my solicitor, without one!

To say I'm finding Fexco pretty incompetent, is a bit of an understatement, at this stage, so I may soon be making a formal complaint and heading to the Regulator, or whoever the appropriate overseeing body is.

Thank you.

MrEarl said:

To say I'm finding Fexco pretty incompetent

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Do you remember when they were in Ely Place and were involved in Stockbroking? I for one will never forget.

MrEarl said:

As things stand, they claim he had none, and that they've no record of him ever holding any Prize Bonds - despite the fact that I've sent them several hundred euros worth of their own cheques, which they issued to my late father, over time, as prizes.

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That just means that he had some at one time and won some prizes. Maybe he redeemed them at some stage before his death? If you don't have any evidence that he held onto them (e.g. the actual bond certs or access to his online State Savings account) and State Savings can't find any record of his holdings using relevant personal details (name, addresses, date of birth etc.) then maybe he simply never had any at the time of his death? Does his will mention them?

MrEarl said:

To say I'm finding Fexco pretty incompetent, is a bit of an understatement, at this stage, so I may soon be making a formal complaint and heading to the Regulator, or whoever the appropriate overseeing body is.

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I believe that that FEXCO is merely administering the Prize Bonds service for An Post/State Savings. So it may be more beneficial to complain to State Savings/An Post if they're giving you the run around.

Incidentally, why didn't he encash those Prize Bond winnings cheques?

State savings and prize bonds​

If the deceased person held prize bonds and no other State Savings products, then you should send a letter notifying of the holder's death and the documents listed below to: State Savings, Prize Bonds, Fexco Centre, Killorglin, FREEPOST, Co. Kerry, V93 WN9T.

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To clarify / answer questions, above:

* He was mentally ill for quite some time, before he died.

* There's no Will. A Grant has since been issued.

* Cheques were uncased due to mental illness. They were later sent to Fexco (we can evidence that Fexco got them), with instructions to convert them to Prize Bonds in my late father's name.

So, at the very least, there are Prize Bonds to value of previous prizes.

MrEarl said:

* Cheques were uncased due to mental illness. They were later sent to Fexco (we can evidence that Fexco got them), with instructions to convert them to Prize Bonds in my late father's name.

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Did they respond to this?
I can't really see how they could retrospectively issue Prize Bonds in the name of a deceased individual?

ClubMan said:

Did they respond to this?
I can't really see how they could retrospectively issue Prize Bonds in the name of a deceased individual?

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Acknowledged by phone.

The prizes issued prior to the date of my father's death, so it was simply a substitution.

MrEarl said:

Acknowledged by phone.

The prizes issued prior to the date of my father's death, so it was simply a substitution.

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So you have the prize bonds in respect of prizes that his prize bonds holding won? But not the bonds that he presumably originally held? Have you read the links that I posted above?

Try a gdpr data protection act request - obviously you will need some ID/ address docs for your dad

contact: The Data Protection Officer, State Savings, National Treasury Management Agency, Treasury Dock, North Wall Quay, Dublin 1, D01 https://www.statesavings.ie/data-protection


Hope it works out

I'm assuming here that you are the Executor of your father's estate. If so, can you not get the solicitor handling the estate to write a suitable snotty letter to Fexco.?

I've had a number of experiences with State Savings/An Post/Fexco and locating Prize Bonds and their search capabilities are extraordinary poor to put it mildly. This came to light when assisting a number of people who held prize bonds to register for State Savings Online and State Savings/An Post/Fexco said that they do not hold bonds, which was completely incorrect, as is the case where your late father is concerned. And in a number of cases where they did find bonds for a new registrant, their success rate was often no better than 50%, finding some bonds and not finding others, with no clear reason for the discrepancy. Generally speaking, State Savings record keeping is very poor and their staff are poorly trained and prone to error.

Your first step should be to write back, preferably by registered post, contradicting their assertion and stating that your late father did hold bonds, and giving as much detail as you can. For example every possible form of your father's name (John Murphy, JJ Murphy, Sean Murphy, Johnny Murphy, Jack Murphy, Sean O'Murchu etc.). No harm to also add your mother's name (or your father's partner's name), if there is any possibility that any of the bonds were in her name or joint names. Also, give them every possible address for your father, going right back to the house he grew up in. Could you also scour your records and those of your father to see if you have anything that could help identify the purchase of the bonds, or the notification of the winnings or the reinvestment of the winnings ? Old receipts, counterfoils, bank statements, cheque stubs etc ?

There is a formal process for this, have you followed it

thedaddyman said:

There is a formal process for this, have you followed it

How do I initiate a Deceased Case for a Ireland State Savings customer? | Ireland State Savings

www.statesavings.ie

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I linked to that earlier.

thedaddyman said:

There is a formal process for this, have you followed it

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Following the process as set out (which of course you should do) isn’t the issue. The problem is that their search capability (and record keeping) is very poor.

MrEarl said:

* Cheques were uncased due to mental illness. They were later sent to Fexco (we can evidence that Fexco got them), with instructions to convert them to Prize Bonds in my late father's name.

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Did you keep a copy of the uncashed cheques before they were sent to Fexco, there was a time that Prize Bonds used to quote the winning bond on documentation received with the cheque. That at least would give an indication for a search range within Fexco. I wish you success and a positive outcome within a short timeframe.