Danske bank to close retail customer accounts

kennM

Jimpopo wrote: »

One query I'd have if I were to take up this offer ( which I won't be doing under any circumstances) is, does the money I'm going to put on deposit ( with an institution who can't get out of here quickly enough) go into a pepper account or a danske account and if so are either going to be covered under the Deposit guarantee scheme???

Definitely another question to ask... wasn't covered in any of the material. I would suspect (note suspect, please don't take this as an informed opinion in any way shape or form!!!!) that it'd be a Danske account basically being administered by Pepper.

nicky5mx

After giving the matter careful consideration, have decided not to accept the DB proposal and have gone back to the FSO to conclude investigation.

The proposal by DB was almost there but no offer of compensation for offset benefits lost to date or the fact that some monies will have to be held with other financial institutions for day to day outgoings. The operation of the new account was nothing short of a complete joke and an insult to anybody who knows how to use a computer or smart-phone. The new T&C's did not scare me but do not know why we should have to accept. The original T&C's of the mortgage are the only ones I am going to agree to.

Fingers crossed we get a better outcome with the FSO.

dolallyoh

I said more or less exact same myself. Took me 1 min to decide.

Jimpopo

dolallyoh wrote: »

I said more or less exact same myself. Took me 1 min to decide.

Ditto

kennM

Off to adjudication now... Danske sent out their tome of a response, replied accordingly, little bit of back and forth and time to sit back and let the deliberations happen.

Danske have basically confirmed that we never signed terms and conditions that they are quoting to justify their position, they've also confirmed that we were never furnished with a copy of them. They've further tried to justify their position by quoting more from these terms and conditions, that don't apply as they haven't been consented to. They periodically update their website with updated terms and conditions and deem you have got them on that basis. Your continued use of the products implies acceptance of the new terms and conditions..... certainly an air of arrogance in their response & they made some fundamental errors in their responses which was a little unprofessional.

I'll save my own commentary on above.... rollseyes

dolallyoh

Good stuff, so what happens next, is it down to the FSO now to make a judgement and if so is there a deadline ?

kennM

dolallyoh wrote: »

Good stuff, so what happens next, is it down to the FSO now to make a judgement and if so is there a deadline ?

Next step is FSO makes a binding ruling and job done.... don't know what the timeframe is to be honest. I've found the investigator super responsive & very thorough though. Sent our response to the tome yesterday evening. They sent onto Danske this morning. Danske came back this morning, acknowledging some of their errors. FSO replied to me to ask if I wanted to add anything. Said no.... so off we go now.

I just pray that justice prevails in the end of this... Danske have been disgraceful in how they have dealt with this.

dolallyoh

Yes - impressed with the FSO. Good luck with it. I am currently in the red at the moment so it would be great to get a positive result before Xmas.

yop

Definitely agree about the FSO, have been excellent so far, I was incredibly suspicious about the FSO as any banking regulator over the last few years have not come out good from all that has happened.
But they have been v good so far and hoping that we get a result.

JimsAlterEgo

The mind boggles though that the findings dont apply to everyone, thats its on a case by case basis.

kennM

JimsAlterEgo wrote: »

The mind boggles though that the findings dont apply to everyone, thats its on a case by case basis.

It'll be interesting to see what way it pans out.... they may look at the (what I see as) 2 factors differently.

1) "Breech of contract"
2) Assuming yes to above then the projected losses.

Perhaps globally rule with regards to breech of contract and then rule individually on a case by case basis on remedial measures, whatever form they may take. Naturally I have preferences but we'll see what comes out in the wash.

yop

kennM wrote: »

It'll be interesting to see what way it pans out.... they may look at the (what I see as) 2 factors differently.

1) "Breech of contract"
2) Assuming yes to above then the projected losses.

Perhaps globally rule with regards to breech of contract and then rule individually on a case by case basis on remedial measures, whatever form they may take. Naturally I have preferences but we'll see what comes out in the wash.

Well if they rule for compensation I think I will be affording a new pair of jox!

JimsAlterEgo

could they force them to contact all affected customers or would it be limited to us those went down FSO route

yop

JimsAlterEgo wrote: »

could they force them to contact all affected customers or would it be limited to us those went down FSO route

I suspect only FSO route.

robbe

All gone a bit quiet - I wonder if anyone has heard from either the FSO or Danske recently? I am at the 10 days for Danske to respond to further submission prior to investigation (though I thought I was at a slightly later stage prior to the last communication with FSO). Anyone else?

yop

robbe wrote: »

All gone a bit quiet - I wonder if anyone has heard from either the FSO or Danske recently? I am at the 10 days for Danske to respond to further submission prior to investigation (though I thought I was at a slightly later stage prior to the last communication with FSO). Anyone else?

Have heard nothing from them now in 3 or 4 weeks now.

dolallyoh

Ditto. Not since I responded to the Danske offer with a polite No.

kennM

dolallyoh wrote: »

Ditto. Not since I responded to the Danske offer with a polite No.

Same here... said no to "offset".... Danske furnished tome including mistakes to FSO questions. I replied, they replied... over to FSO. Thats about 2 weeks ago now.

Hopefully FSO is waiting on a mail order "bloody big stick" off ebay to hit Danske with?

Jimpopo

yop wrote: »

Have heard nothing from them now in 3 or 4 weeks now.

Nothing here either although spoke to FSO recently and I believe they are now in the final stage

kennM

Turns out Danke bank don't have a copy of the original terms and conditions at play at the time of draw down at our mortgage, they also don't have copies of the terms and conditions during each change over the years....

Either way I'm not really bothered. There is no clause in the original contract allowing for a change in terms and conditions and as such are irrelevant. Naturally the doctrine of reasonable expectations apply, with regards to your accounts being left open for as long as the mortgage is in place.

I think Danske are just going through the motions and fighting each one and accept the loss when it comes??? They've maintained this sense of arrogance that is just disgraceful.....

cunnijo

Hi all

This report from Breakingnews.ie may be an interesting read and mght help your case or it may make you very wary.

http://www.breakingnews.ie/ireland/couple-challenges-if-banks-can-hike-mortgage-interest-rates-643797.html

Regards

dolallyoh

Be surprised its an issue, surely all banks can charge whatever they like. I might be missing the point.

yop

dolallyoh wrote: »

Be surprised its an issue, surely all banks can charge whatever they like. I might be missing the point.

I think the High Court are saying the T's & C's are too loss in this case and that in reality the hike to 4% isn't a reflection of "market conditions", where in fact the market conditions are the total opposite.

Doesn't have an direct impact on us, though if this ruling sticks then they will have a flood of cases like this claiming the interest charged was too high..

Have not heard from FSO in 5 weeks now.

nicky5mx

How do we feel about having another go at our dear friends in DB ? My mortgage is split between an Offset and a SVR. Should I get writing to the FSO again ..............just pulled the following from another finance forum.


Today, the High Court overruled a decision by the Ombudsman about the SVR on home loans and on investment properties.

High Court tells Ombudsman to look at Danske Bank's rate increase

The loan agreement said that interest rates would move in line with "market conditions".

The Ombudsman had rejected a complaint , but the customer appealed successfully to the High Court which ruled that this term was vague, and the Ombudsman is to rehear the complaint.

if you have a Danske Bank SVR mortgage...

Check your mortgage agreement.

If it contains this wording, lodge an immediate complaint with Danske Bank asserting that they have not moved the rate in line with market conditions.

They will reject your complaint.

Then make a formal complaint to the Ombudsman.

The 6 year limitation

The Ombudsman may well reject your complaint if the rate first moved away from the ECB rate before October 2008 (6 years ago)

However, as the behaviour is continuing, I believe you are still within your rights to complain.

kennM

Any update from anyone?? things have gone very quite. Waiting for adjudication personally....

dolallyoh

Same - up to 3 months wait. Here is hoping for a happy Xmas ....

yop

Not a word

ABC101

Just logged onto Danske ebanking using the app.

Little message pops up saying the app will expire on December the 4th.

I suppose that will be the same for ebanking on a PC?

I must remember to download any and all statements of everything and put in a secure place.

dolallyoh

It could depend on outcome of our cases actually. They might have to retreat.

yop

Anyone heard anything since. I have not heard a think from the FSO so not sure where we stand. Some seem to be ahead of others, but I would have thought that the FSO would have at least given us an update now after 8 weeks.