Danske bank to close retail customer accounts

nicky5mx

Glad to see that other people have got the reply from DB.

I have held off submitting the complaint to the FSO to read other peoples comments here. It appears that the complaint should centre around the following arguments;

1. The bank are in breach of the original mortgage agreement (and we all submit copies of the agreement to illustrate this)

2. The product was presented and sold to us on the assumption that the savings attached to the product would be available for the duration of the mortgage agreement

3. The revised T&C's from November 2012 were never agreed by us or if we did agree (unknown to us when logging-in?) they were communicated to us in an unfair and misleading manner.


If anybody has any comments or suggestions that might add to the above it would be highly appreciated. Time is running out so we all need to submit our complaints asap. I suggest that we all argue the same reasons so our complaint to the FSO is clear and concise. Lets get writing...........

Rock Steady Edy

Rock Steady Edy wrote: »

I wrote to Danske this week with a copy of our mortgage T&Cs that say a current account must remain for period of the mortgage.

I have asked them to put it in writing that the other T&C (including that of the tracker rate), will not be compromised by their own request to close this feeder account.

Written confirmation received that tracker rate will be unaffected by closure of feeder / current account as the condition has been "waived".

kennM

Rock Steady Edy wrote: »

Written confirmation received that tracker rate will be unaffected by closure of feeder / current account as the condition has been "waived".

Condition has been "waived".... i.e. they couldn't get out of the tracker product. A precedent has been set in the context of other banks trying to get out of them. I don't think that precedent has been set in the context of offset mortgages and as such Danske are chancing their arm.

.BrianJM

I've just been looking at their 'General Terms And Conditions for all products and services.'

6. Variation.
6.1 We may at any time, for any reason set in clause 6.5

~
[b:]remove or change or impose restrictions on the number and/or nature of products or benefits which we offer to you;
~
[d:] make any change to the Agreement;
~
[h:] vary our Terms and Conditions.

6.4 ...and continue to use our services after notification of any of the changes set out in clause 6.1 it means that you will be deemed to have agreed to the change.

(...my emphasis in 6.4...)

I don't have a mortgage account so I don't know if they're included in 'General Terms And Conditions for all products and services'.
I have current, credit card and a couple of savings accounts and after reading the above I wonder if there's any point in reading more.
Basically, it seems as though they can change the rules as and when it suits them.
A few weeks ago I received extracts of amended terms for credit cards which was pre-dated 4 Nov 2013. ~ Just after the closing announcement. Very convenient.

It would seem that by continuing to use my accounts I had agreed to the new terms before they were written!

JimsAlterEgo

Auld-Yin wrote: »

I've just been looking at their 'General Terms And Conditions for all products and services.'

6. Variation.
6.1 We may at any time, for any reason set in clause 6.5

~
[b:]remove or change or impose restrictions on the number and/or nature of products or benefits which we offer to you;
~
[d:] make any change to the Agreement;
~
[h:] vary our Terms and Conditions.

6.4 ...and continue to use our services after notification of any of the changes set out in clause 6.1 it means that you will be deemed to have agreed to the change.

(...my emphasis in 6.4...)

I don't have a mortgage account so I don't know if they're included in 'General Terms And Conditions for all products and services'.
I have current, credit card and a couple of savings accounts and after reading the above I wonder if there's any point in reading more.
Basically, it seems as though they can change the rules as and when it suits them.
A few weeks ago I received extracts of amended terms for credit cards which was pre-dated 4 Nov 2013. ~ Just after the closing announcement. Very convenient.

It would seem that by continuing to use my accounts I had agreed to the new terms before they were written!

just becuase something is in a T&C doesnt mean its fair and binding, over to legal forum

here is thread discussing legalities of altering T&Cs
http://www.boards.ie/vbulletin/showthread.php?p=89667430

gijoo

I'm on a LTV Tracker, and lodged a complaint stating that by closing the loan feeder account that they were not enabling me to fulfil the terms of the mortgage contract. I asked that they waive the clause requiring me to have an account with them.

Got my response by mail today.....
"under the terms and conditions of your account the bank is required to give you 2 months notice of pending withdrawal of personal banking accounts. I can confirm that the bank have followed procedure as under clause 4.1 of our "General Terms & Conditions for all products and services" it outlines. "We may terminate the agreement between us and you at any time by giving you at least 2 months notice......"

..Cheap a$$ apology about frustration caused, yadda yadda yadda.

Internal complaints procedure is now complete......I am free to raise with the financial regulator ombudsman.....

Any advice ? Anyone else advise how they manage to get them to waive the LTV tracker clause about maintaining current A/C or Loan Servicing Account ?

How can general terms and conditions(not signed or agreed to), overrule a mortgage agreement signed in 2007?

Thanks,
Gijoo.

anonanymore

Anybody had information on how to clear a Mastercard account once it's been closed?

cunnijo

anonanymore wrote: »

Anybody had information on how to clear a Mastercard account once it's been closed?

I haven't. However the other banks may allow you to transfer the balance to their credit card offerings. I know AIB have a specific form for balance transfers from Danske. So if you have switched to another bank ask them about it and see what reply you receive.

Ryaned40

Hi everyone, got reply from ombudsman today !! They are offering a mediation between both parties which is optional ! If I don't want to go to mediation they will forward the complaint to their formal procedure ! Happy so far with reply, my solicitor recommends mediation so will post what happens after meeting!

RainyDay

anonanymore wrote: »

Anybody had information on how to clear a Mastercard account once it's been closed?

If you don't clear the account, they convert it into a 2 year term loan at 11%.

Rock Steady Edy

Ryaned40 wrote: »

Hi everyone, got reply from ombudsman today !! They are offering a mediation between both parties which is optional ! If I don't want to go to mediation they will forward the complaint to their formal procedure ! Happy so far with reply, my solicitor recommends mediation so will post what happens after meeting!

That sounds to me like some compromise will have to be reached, which is probably good news for the Offies.

Bumby

Well done Steady Eddy - I still haven't heard a word from Danske following my written letter of complaint about its intention to close my Off-Set Current Account on 28th April next so still not in a position to advise the Ombudsman of Danske's response whatever that may eventually be.

cathk

handlemaster wrote: »

And WILL WIN !! Solicitor will win either way !

In fairness to solicitor told me to go to FSO as the fees for High Court would be about €8000 and the interest I would have to pay would be about €3000 so the only hope at the moment is FSO

robbe

I received my PFO from Danske on Friday. Their response to my complaint which was based on similar lines to other people in this thread (unilaterally changing fundamental clause of the mortgage agreement without agreement and removing what was sold to me as an offset product) was in parts frustrating (including an unsigned copy of 2012/2013 terms and conditions/no reference to my individual circumstances) and funny - the outlined a range of options the principal one being choosing to repay the mortgage and close the account. It read like a stock reply and I'm sure apart from the name it will be very similar to the one other complainants will receive. I intend going down the FSO line - reading their website it would seem as if the process could take quite a few weeks. I'll post here if I have any further developments. I assume the route taken by those in the Padraig Kissane boat hasn't yielded anything yet?

handlemaster

anybody gotten a deal from Danske on dept ? I hear the ears are now open for discussion.

dolallyoh

handlemaster wrote: »

anybody gotten a deal from Danske on dept ? I hear the ears are now open for discussion.

From whom ?

handlemaster

dolallyoh wrote: »

From whom ?

Have you asked ? It was Mr x who told me.

dolallyoh

I will give Mr X in Danske on dept a ring now so !

niceoneted

Gijoo, I too have a LTV tracker and had to have a feeder account. I wrote not complaining but to confirm that I had no problem keeping the feeder account open to comply with their terms and conditions on having the LTV tracker. I also stated in my letter that they are the ones requesting the closure of the account and that I wanted confirmation that by doing so that it did not alter any of the other terms and conditions. my reply from them was -
"the closure of the current account does not in any way affect the terms and conditions of the ECB home rate loan account with Danske Bank. This condition now has been waived as we do not require current account with us as a part of the home loan account."

I am in the process of transferring my wages to a different current account I have and setting up standing order to pay Danske.

RainyDay

niceoneted wrote: »

I am in the process of transferring my wages to a different current account I have and setting up standing order to pay Danske.

They tell me they want a direct debit from my new account to pay the mortgage. I really don't want to give them a direct debit. I'm going to
see if electronic payments from my new account to the mortgage account go through cleanly. If so, I'll just do a standing order, not a direct debit.

kennM

robbe wrote: »

I received my PFO from Danske on Friday. Their response to my complaint which was based on similar lines to other people in this thread (unilaterally changing fundamental clause of the mortgage agreement without agreement and removing what was sold to me as an offset product) was in parts frustrating (including an unsigned copy of 2012/2013 terms and conditions/no reference to my individual circumstances) and funny - the outlined a range of options the principal one being choosing to repay the mortgage and close the account. It read like a stock reply and I'm sure apart from the name it will be very similar to the one other complainants will receive. I intend going down the FSO line - reading their website it would seem as if the process could take quite a few weeks. I'll post here if I have any further developments. I assume the route taken by those in the Padraig Kissane boat hasn't yielded anything yet?

Sounds like the pre-canned PFO I got also.... will be going down the regulator route also. It was nice of them to put in the option to pay off your mortgage in full and close off the account..... just taking the few hundred K out of my back pocket now and going to pop down to my local...... where the hell do I bring it? (after I find a few hundred K of course)

JimsAlterEgo

has anyone been contacted yet by the ombudsman as to the mediation process?

Zymurgist

Does anyone know if the term loan being offered to those of us not in a position to clear our credit cards prior to the closure date will effect our credit ratings?

robbe

All gone a bit quiet in here on this subject - just wondering if anyone has further news on how they are progressing. I've moved to the FSO stage after the PFO received from Danske Bank - I did try calling them but the lady mentioned as a contact in my letter has failed to respond as of yet. Someone mentioned they had been contact ref mediation - interested to hear the timelines on this given the date for the closure of the account (savings) is 25th April.

kennM

robbe wrote: »

All gone a bit quiet in here on this subject - just wondering if anyone has further news on how they are progressing. I've moved to the FSO stage after the PFO received from Danske Bank - I did try calling them but the lady mentioned as a contact in my letter has failed to respond as of yet. Someone mentioned they had been contact ref mediation - interested to hear the timelines on this given the date for the closure of the account (savings) is 25th April.

Will be starting the ball rolling with FSO soon myself....

Regarding timeframe, this isn't going to be a rapid fix. If something was resolved within 3 months I'd be shocked. By the end of April, not a hope.....

that is just my uninformed opinion. Have done a little bit of work with councils and the ombudsman in the past and they typically have a lot on their plates at any given time.

yop

Its gone to the ombudsman in our case also. Still no word back from them.

So what are people doing with their accounts? I have told Danske I am not withdrawing the accounts and will not tolerate a loss of service or access to our accounts until this has been fully resolved.

JimsAlterEgo

yop wrote: »

Its gone to the ombudsman in our case also. Still no word back from them.

So what are people doing with their accounts? I have told Danske I am not withdrawing the accounts and will not tolerate a loss of service or access to our accounts until this has been fully resolved.

did they agree? We may have to ask theombudsman to intervene to prevent closure?

robbe

Not sure what I'm going to do yet to be honest. I've opened an alternative current account and will probably transfer the savings account balance into the current account to get past the first closure timeline. As a matter of interest what was their response to your insistence that they not restrict access to your accounts? What a mess! Did the Padraig Kissane route yield any benefit?

yop

JimsAlterEgo wrote: »

did they agree? We may have to ask theombudsman to intervene to prevent closure?

robbe wrote: »

Not sure what I'm going to do yet to be honest. I've opened an alternative current account and will probably transfer the savings account balance into the current account to get past the first closure timeline. As a matter of interest what was their response to your insistence that they not restrict access to your accounts? What a mess! Did the Padraig Kissane route yield any benefit?

I told that to the ombudsman as IF we move a single penny then we lose money on the extra interest, if we move then they have got us to move, so 1/2 way giving in.
I will wait the ombudsman to advice.
Danske have ignored the statement on 2 previous occasions, but on both occasions the statement was part of other details. On this last occasion it was the only statement in the message.

No word from Padraic yet as he told us we had to go to the ombudsman individually.

I do have a feeling that people who are brought into mediation might have to sign an NDA so will not appear back on here again.

Thoie

Tracker mortgage here (so different situation from the offsets).

I was transferring money from another bank to the feeder account each month, and that was paying the mortgage a few days later. I've been over paying slightly for a long time (wrote to them years ago and asked them to take €xxx monthly instead of €yyy.zz).

Filled in the direct debit mandate, and made a note that I'd stopped the transfer into the feeder account, so they needed to make sure the DD was set up in time to pay Aprils' mortgage.

Got a phone call saying they wouldn't have it set up on time, so could I make a one off transfer for April. Grand.

Then asked them to confirm that the DD would be for €xxx (instead of €yyy.zz) each month, and she said they couldn't do that. I've no idea why, as that's what they were essentially already doing. He suggested that they'd take the DD, and then I could separately transfer the balance myself each month. I pointed out that would be double fees for what used be a single transaction. It turns out that you don't have to do the direct debit, they just prefer it.

So he agreed to tear up the direct debit mandate, and I set up my own standing order (via online banking) to pay the xxx amount each month, indefinitely.

The remaining money in my feeder account will be transferred to the other bank "in the fullness of time". AKA "whenever".