Danske bank to close retail customer accounts

Jimpopo

Fred Swanson wrote: »

Pepper bought the GE Money mortgages for 40% and those were poor sub prime ones.

Does anyone know of any anecdotal evidence that suggests that individuals have approached Danske to try to settle with them ( obviously they will have signed a confidentiality agreement)

makeorbrake

Jimpopo wrote: »

Does anyone know of any anecdotal evidence that suggests that individuals have approached Danske to try to settle with them ( obviously they will have signed a confidentiality agreement)

I don't - and I'd imagine the info would get out there despite confidentiality agreements. In any event, they have a purpose about them - they are focussed on selling the loan book onwards. Therefore, I think it would be highly unlikely that there would be ANY deal done with Danske from now onwards.

We can only speculate but the minute they sell their loan book, I think it's entirely possible that the new owner will be amenable to doing a deal - I'll certainly be asking at the very least.

Bumby

Just received notification from FSO that Danske had refused to mediate on our case even though we had originally and specifically advised FSO that we did not want to mediate knowing that this would be the response from Danske!!

This failure by the FSO has therefore caused a further delay in our complaint process and all down to them not adhering to the instruction we gave in our original complaint submission.

In any event the case, we are advised, will now proceed to "formal investigation and adjudication of complaint made" with a response period of 6-8 weeks anticipated to decision on the case.

All our other accounts (credit cards and current accounts) are now closed and Offset mortgage reverted to Variable.

Anyone else in a similar situation or heard anything back?

Mr Steak

Bumby wrote: »

Just received notification from FSO that Danske had refused to mediate on our case even though we had originally and specifically advised FSO that we did not want to mediate knowing that this would be the response from Danske!!

This failure by the FSO has therefore caused a further delay in our complaint process and all down to them not adhering to the instruction we gave in our original complaint submission.

In any event the case, we are advised, will now proceed to "formal investigation and adjudication of complaint made" with a response period of 6-8 weeks anticipated to decision on the case.

All our other accounts (credit cards and current accounts) are now closed and Offset mortgage reverted to Variable.

Anyone else in a similar situation or heard anything back?

I think it would have been best to go the solicitor route from the start

Jimpopo

Bumby wrote: »

Just received notification from FSO that Danske had refused to mediate on our case even though we had originally and specifically advised FSO that we did not want to mediate knowing that this would be the response from Danske!!

This failure by the FSO has therefore caused a further delay in our complaint process and all down to them not adhering to the instruction we gave in our original complaint submission.

In any event the case, we are advised, will now proceed to "formal investigation and adjudication of complaint made" with a response period of 6-8 weeks anticipated to decision on the case.

All our other accounts (credit cards and current accounts) are now closed and Offset mortgage reverted to Variable.

Anyone else in a similar situation or heard anything back?

Am almost in exactly the same position but please note that you can add recent developments (like your a/c now being managed by a different company and as a result your original service has been further depleted by lack of operating hrs and Ebanking) to the original FSO complaint.

One technicality worth pointing out to the FSO is what Danske bank state on their FAQs in the section regarding Ebanking and whether or not you'll still be able to see your account on Ebanking. Their answer is “No, in the information pack regarding the withdrawal of personal banking services, you were notified that your eBanking facility would cease on your scheduled account termination date."
To my knowledge they have not scheduled an account termination date of our mortgage.
In short, tweeking around the edges of services that they offer may well be viewed as a change in Terms and Conditons and the FSO needs to be aware of any Indiscrepancies that are out there.

Jimpopo

Bumby wrote: »

Just received notification from FSO that Danske had refused to mediate on our case even though we had originally and specifically advised FSO that we did not want to mediate knowing that this would be the response from Danske!!

This failure by the FSO has therefore caused a further delay in our complaint process and all down to them not adhering to the instruction we gave in our original complaint submission.

In any event the case, we are advised, will now proceed to "formal investigation and adjudication of complaint made" with a response period of 6-8 weeks anticipated to decision on the case.

All our other accounts (credit cards and current accounts) are now closed and Offset mortgage reverted to Variable.

Anyone else in a similar situation or heard anything back?

Am almost in exactly the same position but please note that you can add recent developments (like your a/c now being managed by a different company and as a result your original service has been further depleted by lack of operating hrs and Ebanking) to the original FSO complaint.

One technicality worth pointing out to the FSO is what Danske bank state on their FAQs in the section regarding Ebanking and whether or not you'll still be able to see your account on Ebanking. Their answer is “No, in the information pack regarding the withdrawal of personal banking services, you were notified that your eBanking facility would cease on your scheduled account termination date."
To my knowledge they have not scheduled an account termination date of our mortgage.
In short, tweeking around the edges of services that they offer may well be viewed as a change in Terms and Conditons and the FSO needs to be aware of any Indiscrepancies that are out there.

jwrbs

Bumby wrote: »

Just received notification from FSO that Danske had refused to mediate on our case even though we had originally and specifically advised FSO that we did not want to mediate knowing that this would be the response from Danske!!

This failure by the FSO has therefore caused a further delay in our complaint process and all down to them not adhering to the instruction we gave in our original complaint submission.

In any event the case, we are advised, will now proceed to "formal investigation and adjudication of complaint made" with a response period of 6-8 weeks anticipated to decision on the case.

All our other accounts (credit cards and current accounts) are now closed and Offset mortgage reverted to Variable.

Anyone else in a similar situation or heard anything back?

Got similar letter, but 6-8 week period is not when decision will be made just when you will hear back that investigation has started.....I think decision period will be number of months...
Anyone suggest differently?

ABC101

Article there yesterday... it would appear Danske are looking at closing Business Accounts.

I would imagine that when Sinn Fein and other socialists take control of Govt at the next G. election... other banks will start to pull out of Ireland.

SF want to bring in a reduction in the rate of interest payments which can be offset against profit, from 75% to 40%.

Most landlords are going to go bust.

This will put more pressure on banks which may even pull out like Danske.

Zymurgist

Does anyone know what is happening with outstanding balances on credit cards? My a/c and credit card were shutdown at the end of May, however i still owe approx 2.5k on my credit card.

I was told previously that this would be converted into a loan, and that i would get a letter specifiying the repayment conditions. However, in the two weeks since the account has closed i have not received any correspondece from Danske whatsoever.

Is anyone else in a similar position?

stiofanD

Zymurgist wrote: »

Does anyone know what is happening with outstanding balances on credit cards? My a/c and credit card were shutdown at the end of May, however i still owe approx 2.5k on my credit card.

I was told previously that this would be converted into a loan, and that i would get a letter specifiying the repayment conditions. However, in the two weeks since the account has closed i have not received any correspondece from Danske whatsoever.

Is anyone else in a similar position?

Yes, I'm in exactly the same situation. Was actually going to call them today - seems odd that we've received no correspondence at all about the outstanding amount. I'd rather not pay whatever exorbitant interest rate they plan to charge on the balance so would like to know how I go about clearing it.

mel.b

Zymurgist wrote: »

Does anyone know what is happening with outstanding balances on credit cards? My a/c and credit card were shutdown at the end of May, however i still owe approx 2.5k on my credit card.

I was told previously that this would be converted into a loan, and that i would get a letter specifiying the repayment conditions. However, in the two weeks since the account has closed i have not received any correspondece from Danske whatsoever.

Is anyone else in a similar position?

stiofanD wrote: »

Yes, I'm in exactly the same situation. Was actually going to call them today - seems odd that we've received no correspondence at all about the outstanding amount. I'd rather not pay whatever exorbitant interest rate they plan to charge on the balance so would like to know how I go about clearing it.

Sam here except min closed in April. my April and May letters were the same, with the same min payment requested, however the June letter has an increased minimum payment requested, so i presumed this is the revised payment schedule even though i haven't received any additional correspondance.

Zymurgist

Did thet advise how to pay?

Did they attach a lodgement slip, or give account details to transfer the money electronically?

mel.b

It was exactly the same as what used to come with the normal credit card statements so lodgement slip and date of direct debit included. However if you are going to pay the whole thing in one going, you'd need to call them on the day to get the final figure to account for interest that has accured since the statement was printed.

cathk

I think we are all in the same boat, got reply from FSO they have asked Danske for a load of stuff, waiting to see what will happen, not happy with the fact that Danske have appointed a holding company to administer mortgages, don,t know who we,ll end up dealing with, not fair

kennM

cathk wrote: »

I think we are all in the same boat, got reply from FSO they have asked Danske for a load of stuff, waiting to see what will happen, not happy with the fact that Danske have appointed a holding company to administer mortgages, don,t know who we,ll end up dealing with, not fair

Contract is with Danske.... FSO will be dealing with Danske. Ill be heading down that road shortly

Jimpopo

I know this has been mentioned before in this forum but this situation also needs to be raised with the central bank of Ireland with regards to the banking code. I now have a complaint sent to and being investigated by the FSO and the central bank and more need to do the same so that this issue can gain more traction. It's better for all of us in the long run if both agencies know that there's a growing number of disgruntled punters out there.

cathk

Have tried Central Bank twice complaining about Danske & they were not interested, said that Danske were complying with the regulations in regard to exiting day-to-day banking,steered me in the direction of FSO

joeguevara

A consumer cannot make a complaint to the central bank of ireland.

yop

I'm due the response from Dankse with regards FSO letter of complaint to them on 2nd July. Eagerly anticipated.
It was a very comprehensive report in fairness.

yop

jwrbs wrote: »

I just sent all the unused cheques I had back - some entire books, and for the partly used ones I just pulled out the cheques and returned them, keeping the stubs. Also did include the NIB ones as well. The 15c stamp duty is paid in respect of each individual cheque so credit should be available on each one.

Any idea who we send these back to?

robbe

That PO Box in Tallaght I expect - seems to be where most of the current correspondence is routed - have they returned your few cents you left in the account yet??

yop

robbe wrote: »

That PO Box in Tallaght I expect - seems to be where most of the current correspondence is routed - have they returned your few cents you left in the account yet??

No, returned us nothing

Waiting for FSO to update us, mid July I suspect.

robbe

Nothing here either - hopefully given the fact that a substantial majority of the cases brought to the FSO on this subject must be similar the first one should almost be a test case meaning that any subsequent ones get dealt with quicker (that's how it should be done you'd imagine but who knows...) Here's hoping!

cunnijo

yop wrote: »

Any idea who we send these back to?

Yop

Do not use the PO box address commonly used. According to the website here is where they are sent.

Personal Banking Centre,
Danske Bank,
1 Airton Close,
Dublin 24.

Although I was also given this address when I asked through ebanking

Direct Channels
Danske Bank
1 Airton Close
Dublin 24

When you send them ensure you post a message in ebanking informing them. Also any unused cheques over 4 years old (National Irish Bank ones) will not be refunded Only ones with Danske Bank on them will receive credit and this will be issued by bank draft within 10 days usually.

ABC101

Hmmmm ....... I must get around to sending in my old Cheque book etc. Should be worth a few bob etc.

I wish you all ....... Nothing but the very best in all things .... for the future.

I don't hold out much hope for those who have taken a case with the FSO... no establishment in Ireland has ever stood up for the little guy.

Various organs of the "establishment of Ireland" would have no hesitation in putting the entire population to the sword if it suited them.

And we know this.... because they have done it already.

I see Danske are in the process of killing business accounts now..... and there has been a mention that the future of KBC is uncertain... once stabilised it may be sold off.

Ireland could well be getting close to just two banks... and the legacy stuff been managed by 'pepper & Co'

jwrbs

cunnijo wrote: »

Yop

Do not use the PO box address commonly used. According to the website here is where they are sent.

Personal Banking Centre,
Danske Bank,
1 Airton Close,
Dublin 24.

Although I was also given this address when I asked through ebanking

Direct Channels
Danske Bank
1 Airton Close
Dublin 24

When you send them ensure you post a message in ebanking informing them. Also any unused cheques over 4 years old (National Irish Bank ones) will not be refunded Only ones with Danske Bank on them will receive credit and this will be issued by bank draft within 10 days usually.

not sure why they are imposing a 4 year limit - pretty sure i got refunded for all books including NIB ones - got a €15 lump sum - the 4 years may relate to Danske being able to get the money back from the Revenue - but that is their problem not ours - they spewed out cheque books automatically and if we did not use the cheques no duty should be payable by us...

niceoneted

Did anyone who is on a tracker receive any notification as to the new amount due for monthly mortgage payment?

Zaph

a1rstudios wrote: »

Just to note I have been following this thread and as you all know Danske have tried every trick in the book including trying to set up DD to my new account when they got hold of my account number( for TRS forward). They backed off fast and accepted SO when threatened by letter.

They tried that with me as well, and I would have been blissfully unaware of it until I paid the mortgage twice this month except that they rang me to advise me that there was still a small balance on my credit card that I though I had cleared (stamp duty for 2014/15 on closure of the account, as it happens). To be fair, they cancelled the DD while I was on the phone after I explained to them that I'd already set up an SO, although I did need to explain it twice. :rolleyes:

Still haven't received notification of my new monthly mortgage payment amount, but I decided to pay a little extra on the SO anyway so it soesn't matter too much at the moment.

Rock Steady Edy

niceoneted wrote: »

Did anyone who is on a tracker receive any notification as to the new amount due for monthly mortgage payment?

Not yet. Presumably is the first piece of admin under Pepper, so might be indicative of the service they are likely to give.

positron

niceoneted wrote: »

Did anyone who is on a tracker receive any notification as to the new amount due for monthly mortgage payment?

I got this today. Standard Danske letter head etc, but signed "Danske Bank / Pepper" and it says:

In the event that you are transferring funds from another institution or another account with Danske Bank please adjust your payment instruction to reflect this new repayment amount(s)

.

I guess this only applies to those who chose to arrange the payment themselves, where as I gave Danske the mandate to take money out of my other account? Just so murky.