Danske bank to close retail customer accounts

mundogas · 15-01-2014 02:24AM

Hey

First post. Long time reader. opened PTSB account just before Christmas and have to say as mentioned its not as slick as danske was for phone app or web. But it does what it needs to do and staff have been magic any time I have had to ring up. No need to visit a branch yet. Overall sorry danske are going but no complaints with PTSB.

handlemaster · 15-01-2014 10:15AM

RTE have it today that Danske are writing to all mortgage holds by the end of this month. Noemtion of a big cheque just yet ;-) . All customers will not be able to check up their mortgage balance online once online.access is changed.

yop · 15-01-2014 10:17AM

handlemaster wrote: »

RTE have it today that Danske are writing to all mortgage holds by the end of this month. Noemtion of a big cheque just yet ;-) . All customers will not be able to check up their mortgage balance online once online.access is changed.

Well if I have an offset then my accounts are there, so if I can check my accounts then I can check my mortgage, as I currently do.

handlemaster · 15-01-2014 10:22AM

This function of viewing outstanding balance will be switched off. That's from the bank rec RTE

Thoie · 15-01-2014 11:30AM

handlemaster wrote: »

RTE have it today that Danske are writing to all mortgage holds by the end of this month. Noemtion of a big cheque just yet ;-) . All customers will not be able to check up their mortgage balance online once online.access is changed.

yop wrote: »

Well if I have an offset then my accounts are there, so if I can check my accounts then I can check my mortgage, as I currently do.

handlemaster wrote: »

This function of viewing outstanding balance will be switched off. That's from the bank rec RTE

Do you have a link to that, or was it on the radio? Why would they change the online banking?

handlemaster · 15-01-2014 11:32AM

Dont have the link I'm using my mobile
Its on rate.is business section

yop · 15-01-2014 11:32AM

Thoie wrote: »

Do you have a link to that, or was it on the radio? Why would they change the online banking?

They are still retaining business banking? If they are then they will retain the online banking, my access to my business banking is the exact same as to the personal.

handlemaster · 15-01-2014 11:36AM

Did they not say they were going to concentrate on the 300 million turnover businesses. Howany of these are in Ireland and what % would want to stay / go with Danske. The small businesse owners are out I think. I stand to be corrected.

Thoie · 15-01-2014 12:04PM

Found it, thanks handlemaster.

http://www.rte.ie/news/business/2014/0115/497922-danske-bank-statement/

The bank currently provides electronic banking which allows customers see the full extent of their borrowings. But this service will be switched off under its current plans.

yop · 15-01-2014 12:10PM

And still no mention of Offset mortgages and holding onto current accounts.....

ABC101 · 15-01-2014 12:18PM

Or custody accounts!

yop · 15-01-2014 12:19PM

ABC101 wrote: »

Or custody accounts!

I'm sure the regulator will look after us all.....

JimsAlterEgo · 15-01-2014 12:28PM

yop wrote: »

And still no mention of Offset mortgages and holding onto current accounts.....

am wondering are we better to be proactive and forece their hand or sit back and wait?

Thoie · 15-01-2014 12:32PM

Talking of their ebanking - is it working for anyone else right now? I get in, see the home page with the overall balances, but get an error message if I try to do anything else at all (like view the details of the account, or anything).

yop · 15-01-2014 12:35PM

JimsAlterEgo wrote: »

am wondering are we better to be proactive and forece their hand or sit back and wait?

Let them come to us. If we go to them then they will think we are concerned.
The first rule of negotiation is "silence"

Silence from us, let them make the first move on this.
Then we need to check the legals on it.

Thoie wrote: »

Talking of their ebanking - is it working for anyone else right now? I get in, see the home page with the overall balances, but get an error message if I try to do anything else at all (like view the details of the account, or anything).

I'm in there no bother.

legrand · 15-01-2014 12:39PM

^^^
working on my phone as normal

Thoie · 15-01-2014 12:45PM

Phone app working OK for me too, but browser isn't.

ABC101 · 15-01-2014 01:25PM

I hope they are not going to try and "bully clients out" of the bank. i.e. a deliberate lack of service such as delayed posting of the password card for logging on, or website frequently unavailable, or no replies to emails for several days etc.

I see the Danske share price went up to 130... but has struggled to get above that.

Even if Danske Ireland do stay open for business clients.... I don't think they will be as successful as the other Irish banks.

The fact that there are no retail branches, the personal touch is gone, this will hold back business clients..... anybody else agree?

kennM · 15-01-2014 01:31PM

ABC101 wrote: »

I hope they are not going to try and "bully clients out" of the bank. i.e. a deliberate lack of service such as delayed posting of the password card for logging on, or website frequently unavailable, or no replies to emails for several days etc.

I see the Danske share price went up to 130... but has struggled to get above that.

Even if Danske Ireland do stay open for business clients.... I don't think they will be as successful as the other Irish banks.

The fact that there are no retail branches, the personal touch is gone, this will hold back business clients..... anybody else agree?

Did you just use the word "successful" and "irish banks" in the same sentence?

Regarding personal touch, I think the model of banking has changed in the past 5/10 years and the demands/expectations around face to face. I've been with Danske for several years and I could count on one hand the amount of times I needed to go to the branch..... and they were the occasions where there wasn't an online solution

. Their online banking and app are superb and its a shame to see them pull out but cest la vi.

pricewise987 · 15-01-2014 01:47PM

Why wait for Danske to write to you?

Customers are the only people inconvenienced by all this so it is best for your own sake to sort out alternative Banking as soon as you can.....

Danske aren't going to offer a write down on what you owe because you have waited until the last minute....

They do not care...Why should they?

ABC101 · 15-01-2014 02:38PM

kennM wrote: »

Did you just use the word "successful" and "irish banks" in the same sentence?

Ah..............well ahahahahahahhhahahahaha...

Actually what I meant was looking forward to the future... with Danske having put themselves into Cyberspace and with only one major office in Dublin... I don't think they will manage to get as much market share as they hope.

Historically Danske / NIB never managed to challenge the major Irish banks... even when they offered superior products.

ABC101 · 15-01-2014 02:40PM

pricewise987 wrote: »

Why wait for Danske to write to you?

Customers are the only people inconvenienced by all this so it is best for your own sake to sort out alternative Banking as soon as you can.....

Danske aren't going to offer a write down on what you owe because you have waited until the last minute....

They do not care...Why should they?

You write as if you speak for Danske Bank!!

I'm a customer.. and I have a good product... and I speak for myself.

By the way there is such a thing as a contract between a client and the bank, even if they don't care.

kennM · 15-01-2014 02:42PM

ABC101 wrote: »

Ah..............well ahahahahahahhhahahahaha...

Actually what I meant was looking forward to the future... with Danske having put themselves into Cyberspace and with only one major office in Dublin... I don't think they will manage to get as much market share as they hope.

Historically Danske / NIB never managed to challenge the major Irish banks... even when they offered superior products.

I'm suspecting its the most prolonged exit strategy from an area... comparable to the US exit strategy from Iraq. They have been consistently downsizing/consolidating for a number of years. Not on the commercial side so can't really comment.

The nature and behavior of the "typical" bank customer vs. commercial customer... I'm not sure. As a society we are slowly but surely getting better at switching... e.g. electricity suppliers, phone suppliers, etc. banking is something that people don't typically switch. Whether the same holds true for commercial.... can't comment other than speculatively.

kennM · 15-01-2014 02:44PM

ABC101 wrote: »

You write as if you speak for Danske Bank!!

I'm a customer.. and I have a good product... and I speak for myself.

By the way there is such a thing as a contract between a client and the bank, even if they don't care.

Completely agree with you abc101... its not a trivial thing to switch a mortgage from one provider to another and there are costs involved. At the end of the day there is a binding contract which they are choosing to break and as such terms need to be laid down and go from there....

yop · 15-01-2014 03:13PM

pricewise987 wrote: »

Why wait for Danske to write to you?

Customers are the only people inconvenienced by all this so it is best for your own sake to sort out alternative Banking as soon as you can.....

Danske aren't going to offer a write down on what you owe because you have waited until the last minute....

They do not care...Why should they?

A) because we have a contract with them
b) because it will lose me money to not have an offset
c) because it will cost me money to switch.

They will care when I go after them for breach of contract.

pricewise987 · 15-01-2014 03:51PM

yop wrote: »

A) because we have a contract with them
b) because it will lose me money to not have an offset
c) because it will cost me money to switch.

They will care when I go after them for breach of contract.

I am a customer as well but I imagine if you look at the small print of any agreement you signed you will find perfectly legal exit clauses similar to the one below.....

They reserve the right to terminate the Contract at any time for Business and/or Financial reasons

Did you read your contract to confirm no such exit clause exists?

Please tell me you can't find it and we are all on the YOP gravy train.....

Whatever the solution for Offset Mortgages is, you will still need a Personal bank A/c somewhere else....!!!

3. Variation

[FONT=Danske Text,Danske Text][FONT=Danske Text,Danske Text]3.1 We may at any time, for any reason set in Clause 3.3 below:

a) add to, remove or change the number of and/or nature of products and benefits which we offer to holders of a Package;

b) introduce a fee or charge applicable to a Package and/or products and benefits selected by you from time to time and/or vary the amount, frequency or time for payment of such fees or charges;

c) add to, remove, change or impose restrictions on the products and benefits available to holders of a Package;

d) make any change to the Terms and Conditions; or

e) make any change to a Mandate.

3.2 We will always give you at least one month’s notice (or such longer notice period as we may be required by law, regulation or regulatory requirement to provide you) before making any change described in Clause 3.1. If the change is to your detriment we will give you the notice in writing. Otherwise we may notify you in writing or by advertisement in the national press and also by putting a message on our Website or by e-mail. If you continue to use the Bank’s services after receiving notification of any of the changes set out in Clause 3.1, it will mean that you have agreed to the change.

3.3 The changes referred to in Clause 3.1 above will be made for one of the Variation Reasons.
[/FONT]
[/FONT]

pricewise987 · 15-01-2014 03:58PM

ABC101 wrote: »

You write as if you speak for Danske Bank!!

I'm a customer.. and I have a good product... and I speak for myself.

By the way there is such a thing as a contract between a client and the bank, even if they don't care.

Am a customer of Danske - it is a pain in the backside but there are no realistic alternatives but to find another Bank.....

Silence, as has been suggested, has never been an effective method of dealing with any Bank

Talk of litigation for Breach of Contract is fantasy stuff.....

You will still need alternative Banking arrangements in a few months time...

yop · 15-01-2014 04:01PM

pricewise987 wrote: »

Am a customer of Danske - it is a pain in the backside but there are no realistic alternatives but to find another Bank.....

Silence, as has been suggested, has never been an effective method of dealing with any Bank

Talk of litigation for Breach of Contract is fantasy stuff.....

You will still need alternative Banking arrangements in a few months time...

Nope it ain't

pricewise987 · 15-01-2014 04:05PM

yop wrote: »

Nope it ain't

Deadly.....:)

Let me know how you get on and I will be next in the queue.......;)

yop · 15-01-2014 04:06PM

pricewise987 wrote: »

Deadly.....:)

Let me know how you get on and I will be next in the queue.......;)

You've all the answers, I am sure you will figure it out

Danske bank to close retail customer accounts

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