Anyone happy with their compensation??

R

ryflava

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Just wondered if anyone that has actually received a letter from BOI in particular, is actually happy with the compensation that's been offered to them?? I obviously still haven't heard a word, but was just interested to know if anyone has received some good news??
 
I received my letter from BOI last week after a long wait. They have offered 10% of the over charge amount as compensation and a fee of €250 towards independent advice. I think the percentage amount is lower than both AIB (15%) and Ulster Bank (12%). The contribution towards advice is also less than the other banks as far as I know. I was surprised that they are not adjusting the mortgage to the position it would have been in had you not been overcharged. Instead they are giving me the option of receiving the amount as a payment into my current account or paying it all off the mortgage. I will be going for the first option. Hope you get some good news soon!
 
Glad to hear u have heard from them.. The fact that they're offering less than other banks, doesn't surprise me in the slightest, I wouldn't expect anything else from them €250 towards independent legal advice, isn't much thou, when u think about it?? That's an expense that you wouldn't have had, if it wasn't for them..
 
I agree that €250 euro toward independent financial or legal advice is very little. Some solicitors charge an hourly rate of €350! I don't think I will pursue the matter any further though. I'm just glad that they have finally owned up to what they owe and hopefully the refund will be in my account before Christmas. The matter has taken far too long to resolve. I hope the wait isn't too long for you and everyone else impacted by this issue.
 
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I would appeal the level of compensation lads, I am with another bank and am appealing the level of redress of ca10%.
 
i finally got my aib redress today ;
it consisted of
redress overpayment
+ 4.36% time value on this

+15% compensation on redress figure + tvm

+ €615 for advice:

think its good to get this info out there so others know how the different institutions are arriving at their figures
- makes you sick looking at how much they overcharged you all these years and all the missed opportunities that go along with the over payments .
 
Hello,

I argued my case with BOI 5 years ago and received a refund on the money I'd overpaid.

I never received any compensation. Do you think I could revert and request some compensation?

Anyone else in this situation
 
Hi received letter today from BOI , basically saying big job gong through all these accounts ( God help them , not ) , but stating won't have done by 2017

Did they have to have compo letters out by end 2017 ???

Also , no name on letter and to top it all , they still have Richie Bouchers name on the bottom of the letter as Group CEO. That's in itself is illegal for any Bank and they will receive a fine from the central Bank . I know this because I work there
 
Omega143 said:
Hi received letter today from BOI , basically saying big job gong through all these accounts ( God help them , not ) , but stating won't have done by 2017

Did they have to have compo letters out by end 2017 ???

Also , no name on letter and to top it all , they still have Richie Bouchers name on the bottom of the letter as Group CEO. That's in itself is illegal for any Bank and they will receive a fine from the central Bank . I know this because I work there
Click to expand...
Did ur letter actually say it won't b sorted by 2017 as mine last week said a few times I will have my redress pack
 
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