Danske bank to close retail customer accounts

josip

Does anyone know when the April current account closure date is?
She cant find the original letter with the date.
Is it the same for everyone in this tranche or does it vary?

My wife tried to transfer the balance from her account today, but couldn't because it's a non-banking day.
Online banking suggested the 22nd, she completed, and her payment was confirmed.
But the payment doesn't show up afterwards under payments pending.

ABC101

Everybody seems to have slightly different dates, but I think I remember one poster mentioning 23rd or 25th April.

I'm around the 25th May for instance.

yop

Im 25th April
I did a transfer using my mobile today to my new account and it showed up under future transfers.

.BrianJM

I'm 25th as well and a few hours ago accounts were functioning normally.

dolallyoh

So - worst case how much do we stand to lose ? I will be paying an extra 80 euro per month in interest now. And I suspect that is tiny compared to the rest of us....

nicky5mx

About a 100 a month for me..........enough for anybody at the moment.

Just received an offer of mediation from the FSO. I have 3 weeks to decide if I want to go down this road or not. Both parties have to agree to this option so I am not sure if DB are going to stick their heads out of the sand and engage or not ? Given the contempt they have shown for customers I do not think they are open to mediation.

What are other people doing ? In one sense I am thinking of not engaging and force the FSO to investigate and adjudicate on this matter. What is the point of me wasting time and energy taking on DB (and not doubt their legal team) at a mediation process. Is it not a black and white situation if DB are right or wrong in changing the original T&C's of the mortgage agreement ? Seems like a load of rubbish to me.

Would like to hear other peoples opinion if they have already being offered this option by the FSO. We are all complaining about the same issue so it seems stupid if each complaint has to go through the same "mediation" process.

yop

nicky5mx wrote: »

About a 100 a month for me..........enough for anybody at the moment.

Just received an offer of mediation from the FSO. I have 3 weeks to decide if I want to go down this road or not. Both parties have to agree to this option so I am not sure if DB are going to stick their heads out of the sand and engage or not ? Given the contempt they have shown for customers I do not think they are open to mediation.

What are other people doing ? In one sense I am thinking of not engaging and force the FSO to investigate and adjudicate on this matter. What is the point of me wasting time and energy taking on DB (and not doubt their legal team) at a mediation process. Is it not a black and white situation if DB are right or wrong in changing the original T&C's of the mortgage agreement ? Seems like a load of rubbish to me.

Would like to hear other peoples opinion if they have already being offered this option by the FSO. We are all complaining about the same issue so it seems stupid if each complaint has to go through the same "mediation" process.

Set to cost us 260 euro per month on extra interest payments.

I accepted their mediation offer nearly 3 weeks ago and Heard nothing since.
I don't think danske are going to take up the offer as they are incredibly arsy

So u are right. If I have not heard from fso on Monday week I will with draw my offer of mediation.

I an pursuing them legally also.

Sir Chops

yop wrote: »

Set to cost us 260 euro per month on extra interest payments.

I accepted their mediation offer nearly 3 weeks ago and Heard nothing since.
I don't think danske are going to take up the offer as they are incredibly arsy

So u are right. If I have not heard from fso on Monday week I will with draw my offer of mediation.

I an pursuing them legally also.

How much interest will you earn from investing your money in the offset account elsewhere?

yop

Sir Chops wrote: »

How much interest will you earn from investing your money in the offset account elsewhere?

That I haven't honestly looked at. In the biotechnology sector the returns are big for the last 2 years but even still I can't see it beating the risk free offset.

clint_silver

yop wrote: »

That I haven't honestly looked at. In the biotechnology sector the returns are big for the last 2 years but even still I can't see it beating the risk free offset.

Risk free untaxed 4.x% unbeatable.

I'll give it 6-12 months and the mortgages will be sold on at a discount. In my humble opinion, The ibrc discounted mortgage Sale to American hedge funds is a good indicator of what they'll settle for to get them off their books. Advise hitting the other providers to see what you can get and put that in a letter to danske credit team. Although that sale figure was not disclosed you can't lose anything by sending in a heavily discounted offer. That wil beat the Loss of any offset if they accept.
This is speculation on my behalf but the writing is on the wall for me. I'd rather pay 1% higher on 60% of my current mortgage.

chasm

What hours does Danske Bank's close down at night? Am trying to transfer money from my account so that i can close it, but once i have gone through the whole transfer money process it states a technical error has occured.

Also was interest still applied since December, as the last statement i received was only up to december and i can only view my balance online all other options are unavailable. It's an e-saver account btw.
Thanks

ABC101

I can log in online and check my mortgage and current accounts.

However I am unable to access anything on the custody account page. All I get is an error message on the bottom of the screen.

Anybody else experiencing the same?

handlemaster

clint_silver wrote: »

Risk free untaxed 4.x% unbeatable.

I'll give it 6-12 months and the mortgages will be sold on at a discount. In my humble opinion, The ibrc discounted mortgage Sale to American hedge funds is a good indicator of what they'll settle for to get them off their books. Advise hitting the other providers to see what you can get and put that in a letter to danske credit team. Although that sale figure was not disclosed you can't lose anything by sending in a heavily discounted offer. That wil beat the Loss of any offset if they accept.
This is speculation on my behalf but the writing is on the wall for me. I'd rather pay 1% higher on 60% of my current mortgage.

Have you made an offer ?

Ryaned40

nicky5mx wrote: »

About a 100 a month for me..........enough for anybody at the moment.

Just received an offer of mediation from the FSO. I have 3 weeks to decide if I want to go down this road or not. Both parties have to agree to this option so I am not sure if DB are going to stick their heads out of the sand and engage or not ? Given the contempt they have shown for customers I do not think they are open to mediation.

What are other people doing ? In one sense I am thinking of not engaging and force the FSO to investigate and adjudicate on this matter. What is the point of me wasting time and energy taking on DB (and not doubt their legal team) at a mediation process. Is it not a black and white situation if DB are right or wrong in changing the original T&C's of the mortgage agreement ? Seems like a load of rubbish to me.

Would like to hear other peoples opinion if they have already being offered this option by the FSO. We are all complaining about the same issue so it seems stupid if each complaint has to go through the same "mediation" process.

It's been 3 1/2 weeks since I agreed to mediation ! I emailed two on last thurs but no reply, just got automated email that they will be in contact on tues. Danske bank have not contacted fso so just a waste of time, still have to confirm that with fso so will post on tues when it's confirmed! Danske bank are pricks they have no interest in looking after their offset mortgage customers, the banks can do what they like in this country! I don't hold out much hope with fso, they are just there for a good wage payed by us, so like most things in this country bend over and let them **** u up the arse as usual !

clint_silver

handlemaster wrote: »

Have you made an offer ?

Meeting 2 providers during the week and will be submitting a letter. I've a complicated situation with an investment mortgage as well that's in heavy negative equity.

Speaking to other providors they'll only switch for the existing amount max of ppr or 50% of investment mort.

They want out, it's only going to go one way for me. Once it goes to one of the hedge fund buyers all bets are off as to what you're going to be paying.

.BrianJM

chasm wrote: »

...Also was interest still applied since December, as the last statement i received was only up to december and i can only view my balance online all other options are unavailable. It's an e-saver account btw.
Thanks

Interest is still accruing.

yop

Ryaned40 wrote: »

It's been 3 1/2 weeks since I agreed to mediation ! I emailed two on last thurs but no reply, just got automated email that they will be in contact on tues. Danske bank have not contacted fso so just a waste of time, still have to confirm that with fso so will post on tues when it's confirmed! Danske bank are pricks they have no interest in looking after their offset mortgage customers, the banks can do what they like in this country! I don't hold out much hope with fso, they are just there for a good wage payed by us, so like most things in this country bend over and let them **** u up the arse as usual !

Funny I am of the same attitude, maybe I am blind, but outside of a few of on here there seems to be so many who have lubed up already for Danske. Its incredible really.
But maybe we are wrong

dolallyoh

Nearly judgement day from the FSO now.

yop

dolallyoh wrote: »

Nearly judgement day from the FSO now.

IS that with regards the mediation?

dolallyoh

Yep. I had a delay with mine so my 3 weeks won't be up for another few days.

Bumby

Had a call from Danske Bank today wanting me to provide details of my new bank so that they could set up Direct Debit to allow them collect my monthly mortgage payment from.

Advised them that I was not prepared to do this as the matter was subject to FSO investigation but that I was prepared to set up Standing Order to my Offset Current Account to which their representative had no answer!!

Still waiting to hear from FSO though.

Just on the matter of the 6 Year FSO issue. From reading their documentation I read this as not when the mortgage was actually drawn down but rather when the Offset Mortgage issue became a matter of complaint so therefore not an issue!!

Cost of losing Offset Arrangement going to cost me in excess of €230 per month which in return Danske Bank will make so any wonder they want rid of the facility.

Whilst other banks offer Offset Arrangements the cost of transferring are prohibitive.

Ryaned40

Danske bank did not reply to offer of mediation. Got confirmed today by fso and told that formal investigation will commence shortly and that I will be informed when in the next few weeks

kennM

Bumby wrote: »

Had a call from Danske Bank today wanting me to provide details of my new bank so that they could set up Direct Debit to allow them collect my monthly mortgage payment from.

Advised them that I was not prepared to do this as the matter was subject to FSO investigation but that I was prepared to set up Standing Order to my Offset Current Account to which their representative had no answer!!

Still waiting to hear from FSO though.

Just on the matter of the 6 Year FSO issue. From reading their documentation I read this as not when the mortgage was actually drawn down but rather when the Offset Mortgage issue became a matter of complaint so therefore not an issue!!

Cost of losing Offset Arrangement going to cost me in excess of €230 per month which in return Danske Bank will make so any wonder they want rid of the facility.

Whilst other banks offer Offset Arrangements the cost of transferring are prohibitive.

I've emailed them on 3 separate occasions requesting specific details regarding setting up mortgage payment via standing order. Exact date to be paid, exact amount to pay and where it should be paid into. They still have failed to reply.... they posted out a direct debit mandate. Going to have to follow up with phone calls but don't hold much hope for resolution.... stupid. I want to give you money, tell me how..... silence.

chughes

kennM wrote: »

I've emailed them on 3 separate occasions requesting specific details regarding setting up mortgage payment via standing order. Exact date to be paid, exact amount to pay and where it should be paid into. They still have failed to reply.... they posted out a direct debit mandate. Going to have to follow up with phone calls but don't hold much hope for resolution.... stupid. I want to give you money, tell me how..... silence.

I've set up a standing order from my new current account to my Danske mortgage account. They sent me a direct debit mandate but that is gone in the bin. I just set the payment up for the amount I have been paying on the date I have been paying it all along. I seem to remember you had to have a servicing current account for the mortgage account but I'm guessing that changed when they changed from the old NIB system to the Danske one. I've no intention of signing a D/D mandate. They'll just have to accept my S/O.

robbe

Ryaned40 wrote: »

Danske bank did not reply to offer of mediation. Got confirmed today by fso and told that formal investigation will commence shortly and that I will be informed when in the next few weeks

Received the mediation letter from FSO today. Given Danske's stance so far which was confirmed on a voicemail (don't bother calling back because the position is as per the letter) I am minded to refuse the mediation offer and proceed to the investigation. Especially given your experience I would think it likely that their stance will be the same for all those who complain. Thanks for the useful update.

dolallyoh

Bumby wrote: »

Had a call from Danske Bank today wanting me to provide details of my new bank so that they could set up Direct Debit to allow them collect my monthly mortgage payment from.

Advised them that I was not prepared to do this as the matter was subject to FSO investigation but that I was prepared to set up Standing Order to my Offset Current Account to which their representative had no answer!!

Still waiting to hear from FSO though.

Just on the matter of the 6 Year FSO issue. From reading their documentation I read this as not when the mortgage was actually drawn down but rather when the Offset Mortgage issue became a matter of complaint so therefore not an issue!!

Cost of losing Offset Arrangement going to cost me in excess of €230 per month which in return Danske Bank will make so any wonder they want rid of the facility.

Whilst other banks offer Offset Arrangements the cost of transferring are prohibitive.

Good info thanks. Which other banks offer them ?

nicky5mx

Was also going to set up a SO from my new current account into the DB mortgage account. Just wondering how the TRS would be applied as DB would not have my new account details to pay the TRS. Under the DD I presume they would credit the TRS to my new current account.

Do not want to sign a DD mandate but may have no option in order to get the TRS from them ?

dolallyoh

nicky5mx wrote: »

Was also going to set up a SO from my new current account into the DB mortgage account. Just wondering how the TRS would be applied as DB would not have my new account details to pay the TRS. Under the DD I presume they would credit the TRS to my new current account.

Do not want to sign a DD mandate but may have no option in order to get the TRS from them ?

I allowed them to setup the DD because of the TRS variable amount. Had been using a SO.

ABC101

Received letter from Danske today, 25th April is when my offset goes from 4.15% to 3.15%.

Previously on the phone I was told the 1% reduction will remain for the life of the mortgage.

But obviously the Offset SVR was always a Variable rate...how long will it last?

Ryaned40

robbe wrote: »

Received the mediation letter from FSO today. Given Danske's stance so far which was confirmed on a voicemail (don't bother calling back because the position is as per the letter) I am minded to refuse the mediation offer and proceed to the investigation. Especially given your experience I would think it likely that their stance will be the same for all those who complain. Thanks for the useful update.

No probs robbe,