Danske bank to close retail customer accounts

robbe

Brief update - received a letter this morning from Danske asking where I wanted them to pay the compensation so they're not appealing my case anyway - think this was a consideration of the decision by FSO in setting the compensation levels - unlikely that Danske will challenge relatively small (in my case anyway) award levels.

ABC101

Just a question...

Has anybody mentioned in their complaint to the FSO about the ebanking facility being closed in December?

In addition for those who are taking the option of the Offset account... will they be able to avail of the ebanking facility?

I do find the ebanking facility important.... as I like to transfer monies into the mortgage account every now and again... in addition to the monthly DD payment.

I wonder how much trouble would it cause Danske if they were to keep the ebanking facility going?

Or is it just easier to ring up Pepper and get an account balance every now and again?

ardmacha

ABC101 wrote: »

Given Ireland has a growing population, currently undergoing good growth, unemployment falling (thank God) and property coming back in value....then do the really smart management in Danske think they are still smart....coz in my opinion they are looking very stupid liquidating at the bottom of the cycle.

I just hope at the next shareholder meeting in Copenhagen that the shareholders remind management of this!

I think they were mad to pack up and drive off thousands of good customers just as things were picking up. When AIB and Bank of Ireland and even Ulster Bank now seeing value they clear off

dolallyoh

Vikings never change ...

to boot

Danske are now offering directly outside the ombudsman process the offset reinstatement from august, compensation of 3k and compensation for loss of interest in the interval

dolallyoh

Thanks for that update.

Is it reinstatement via Pepper (in 1900s Kerry) or back to online banking ?

yop

to boot wrote: »

Danske are now offering directly outside the ombudsman process the offset reinstatement from august, compensation of 3k and compensation for loss of interest in the interval

When you say outside, do you mean they contacted you directly via phone or letter?

to boot

dolallyoh wrote: »

Thanks for that update.

Is it reinstatement via Pepper (in 1900s Kerry) or back to online banking ?

As per august letter

to boot

yop wrote: »

When you say outside, do you mean they contacted you directly via phone or letter?

Phone

kennM

to boot wrote: »

As per august letter

As per August letter but the T&Cs seem to be a little less draconian....not much less but a minor step in the right direction.

Interestingly one of the T&Cs says you must use online banking but they haven't explicitly said if it's provided or not. So it would suggest that they are but I'd suspect purely for checking a/c balance perhaps? I wouldn't be surprised if they don't offer it and fail to comply with this t&c.

I'd say they are trying to contact people out of the process to gain a little favour with the Ombudsman because they know they'll all end up at the same destination

ABC101

Morning chaps,

I thought I'd run a few things by you all....as I have a few questions.

1) If Danske are offering the Offset back to customers... and making it a condition that ebanking is used ( as mentioned by some posters above). Then why is the app being switched off on the 4th December? In fact (I am open to correction) I believe the entire ebanking for us offsetters will be switched off on the 4th December, not just for mobile devices, but even for a normal desktop pc.

So if Danske are in reverse gear... and want us to use ebanking.... when are they going to announce that the App (Iphone + Android etc) is still usable?

2) Has anybody noticed anything unusual with their Offset Mortgage FINAL repayment date, i.e. the date the mortgage will be fully paid off?

I have been making extra payments every month for most of this year..... hence my final repayment date is coming forward (i.e. life of the mortgage is getting shorter)..... I had come forward by nearly 12 months..... but when I logged on today..... I have gone back 3 months.

For some reason the mortgage life has been extended by 3 months. You can view this in the Terms Tab when you click your account.

Can anybody else confirm this anomaly?

yop

ABC101 wrote: »

Morning chaps,

I thought I'd run a few things by you all....as I have a few questions.

1) If Danske are offering the Offset back to customers... and making it a condition that ebanking is used ( as mentioned by some posters above). Then why is the app being switched off on the 4th December? In fact (I am open to correction) I believe the entire ebanking for us offsetters will be switched off on the 4th December, not just for mobile devices, but even for a normal desktop pc.

So if Danske are in reverse gear... and want us to use ebanking.... when are they going to announce that the App (Iphone + Android etc) is still usable?

2) Has anybody noticed anything unusual with their Offset Mortgage FINAL repayment date, i.e. the date the mortgage will be fully paid off?

I have been making extra payments every month for most of this year..... hence my final repayment date is coming forward (i.e. life of the mortgage is getting shorter)..... I had come forward by nearly 12 months..... but when I logged on today..... I have gone back 3 months.

For some reason the mortgage life has been extended by 3 months. You can view this in the Terms Tab when you click your account.

Can anybody else confirm this anomaly?

Have seen no change.

kennM

I think a few calls to Pepper may be in order

homer911

Got an email from Danske this morning to say I had a secure email waiting for me in my online banking - I threw my details away 6 months ago when they closed my account. Is this a generic thing or do I need to give them a call?

yop

homer911 wrote: »

Got an email from Danske this morning to say I had a secure email waiting for me in my online banking - I threw my details away 6 months ago when they closed my account. Is this a generic thing or do I need to give them a call?

Its a statement on any accounts you had with them.

Rock Steady Edy

kennM wrote: »

Interestingly one of the T&Cs says you must use online banking

Mmm ... I just wonder if their Corporate Office is feeding back to their Head Office that they may just have been a bit hasty beating a retreat from Ireland after all, and maybe this is just the start of a reverse gear back into retail sector, in which case the very first thing they would need to do would be to placate their existing customers.

kennM

Rock Steady Edy wrote: »

Mmm ... I just wonder if their Corporate Office is feeding back to their Head Office that they may just have been a bit hasty beating a retreat from Ireland after all, and maybe this is just the start of a reverse gear back into retail sector, in which case the very first thing they would need to do would be to placate their existing customers.

I'd like to think this is the case but I think that's a bit far fetched I suspect the t&c was left in by accident more than anything

nicky5mx

Just wondering if many people are still waiting on the decision from the FSO ?

I would have thought that most people would have heard back at this stage given that it is likely to be a standard enough letter to all concerned. I have received no communication in over 8 weeks since the ping pong of letters came to a final end with the FSO. Is it correct that very few people have received a decision ?

kennM

nicky5mx wrote: »

Just wondering if many people are still waiting on the decision from the FSO ?

I would have thought that most people would have heard back at this stage given that it is likely to be a standard enough letter to all concerned. I have received no communication in over 8 weeks since the ping pong of letters came to a final end with the FSO. Is it correct that very few people have received a decision ?

I would suspect the response may be soon enough for you. I think I was one of the first to tell Danske where to go after they put the offset offer on the table. I know FSO had put our complaints "On Hold" whilst we considered this "offer". Then once response was furnished it kick started the process again.

yop

nicky5mx wrote: »

Just wondering if many people are still waiting on the decision from the FSO ?

I would have thought that most people would have heard back at this stage given that it is likely to be a standard enough letter to all concerned. I have received no communication in over 8 weeks since the ping pong of letters came to a final end with the FSO. Is it correct that very few people have received a decision ?

10 weeks waiting and no response.

dolallyoh

Still waiting also. I am guessing I will get the "Take the offset and here's a grand to pay your water bill" letter shortly.

nicky5mx

Thanks guys.........looks like many people are still waiting !! I do not understand why it is taking them so long as they obviously have a one box fits all solution. It would appear that the FSO and DB came up with an agreed compromise together in order to make this thing go away. They are more or less forcing us to accept the revised off-set that was on the table a few months ago from DB. Unlikely anybody will have the balls (and money) to take this to the High Court for breach of contract. That said interesting to see what happens with the recent case in the High Court where the judge told the FSO to "review" their decision that they had adjudicated on in favour of DB.

Jimpopo

Got 'standard' letter today, disgusted that no mention of loss on future savings denied to us by Danske. Feel like we've been thrown a bone from the top table. On the plus side it was a small victory!

dolallyoh

Jimpopo wrote: »

Got 'standard' letter today, disgusted that no mention of loss on future savings denied to us by Danske. Feel like we've been thrown a bone from the top table. On the plus side it was a small victory!

What future savings though ? As far as I understand it they have had to reinstate the whole thing, just using 1900s technology.

kennM

dolallyoh wrote: »

What future savings though ? As far as I understand it they have had to reinstate the whole thing, just using 1900s technology.

Ah you still loose a small amount of whatever your day-to-day monies would offer you. e.g. bill paying money etc. wages sitting in accounts for a while etc.

It's a reasonable compromise in the end. Would I have preferred more, absolutely. Do I think Danske will act up down the line and bump interest rates to make it unattractive and pressure people to move mortgage providers?..... wouldn't be surprised. Hopefully I'm wrong. I think Danske have likely "dirtied their bib" with the Ombudsman through this so may not act up again (for a while).

For all intense purposes you get a guaranteed 4.x% (dirt free) on your savings whilst having access to it with 1 withdrawal per month. Best deposit interest rates you'll get with no access are south of 2% less dirt.

It's no tracker mortgage but if you have a chunk of money to offset you're in good shape

Jimpopo

There are so many ways that our linked accounts would have saved us a significant amount of money over the life of our mortgage, I'm sickened that they have reneged on their side of our agreement simply because their business model didn't work here. It's not only the money that we're not going to save, it's the time. Having previously had this product it took 11 years off a 25 year mortgage as we were allowed to manage or offset. Our hands are now tied and we won't be able to change providers so now stuck with these knobs.....

kennM

nicky5mx wrote: »

Thanks guys.........looks like many people are still waiting !! I do not understand why it is taking them so long as they obviously have a one box fits all solution. It would appear that the FSO and DB came up with an agreed compromise together in order to make this thing go away. They are more or less forcing us to accept the revised off-set that was on the table a few months ago from DB. Unlikely anybody will have the balls (and money) to take this to the High Court for breach of contract. That said interesting to see what happens with the recent case in the High Court where the judge told the FSO to "review" their decision that they had adjudicated on in favour of DB.

Hey Nicky... I'd be careful regarding stating that DB and FSO worked together. The FSO is independent & I wouldn't suggest otherwise without very strong evidence.

You can be sure Danske Bank aren't happy about having to honor offset agreement. They've essentially been forced to climb down. Also the T&Cs have improved since the Aug which is good.

I understand that Danske and the FSO are appealing the decision to the appeals court..... I had asked the FSO specifically about it.

yop

kennM wrote: »

Hey Nicky... I'd be careful regarding stating that DB and FSO worked together. The FSO is independent & I wouldn't suggest otherwise without very strong evidence.

You can be sure Danske Bank aren't happy about having to honor offset agreement. They've essentially been forced to climb down. Also the T&Cs have improved since the Aug which is good.

I understand that Danske and the FSO are appealing the decision to the appeals court..... I had asked the FSO specifically about it.

Danske are appealing the decision? The decision to award some Offset holders their accounts back is it?

josip

kennM wrote: »

Hey Nicky... I'd be careful regarding stating that DB and FSO worked together. The FSO is independent & I wouldn't suggest otherwise without very strong evidence.

You can be sure Danske Bank aren't happy about having to honor offset agreement. They've essentially been forced to climb down. Also the T&Cs have improved since the Aug which is good.

I understand that Danske and the FSO are appealing the decision to the appeals court..... I had asked the FSO specifically about it.

How/Why are Danske and FSO both appealing the decision?
The FSO thinks it's not enough and Danske thinks its too miuch?

yop

Ok, well I am fit to be tied.
I decided that since I hadn't heard anything I would make contact so I rang them this morning and since we didn't have the side letter to hand that we have no case, so will not receive a bean, the dirty fkers.
140 quid a money extra been paid to them now for the remaining 17.5 years. Pure fkn farce.