Hi Emma
How much do you think the compo should be?
Brendan
I think it should be the same as the bank would charge us if we went into debit and overdraft. I have a bank statement in from of me from Ulster bank. It says that debit Interest is 15.55% and if I go into unauthorised overdraft I would pay a surcharge of another 9%. Now banks are able to whack it on but somehow when it comes to compensation people are being given derisory sums.
€10.00 per year compensation - that is an insult.Hi Threadser,
My overpayment is only small in comparison to some people here.
I was overcharged 0.15% over an 8 year period, resulting in an overpayment of just over €2,200. They have offered €40 in interest and €80 in compensation.
€600 has been deducted to pay TRS, which was a shock to me also. I assumed when they said that the banks would be liable for sorting out TRS payments, that they would actually take the hit... not that it meant they would just take it off us, to pay revenue. But sure, why would they do that? It’s not like we can expect them to bear the brunt of their own actions of anything.
I’d like to know of any other occasion where compensation has been calculated at such a ridiculously low amount and accepted.
Hi Brendan, could you give me your opinion on the following statement?Can anyone point out where compensation has been paid at all in cases where people have been overcharged?
All of the lenders have or will have Independent Appeals Panels in place and one can appeal any aspect of the refund or the compensation.
But I would imagine that you would have to show actual financial loss and not just annoyance.
Brendan
I quite amazed at the attitude to be honest.Can anyone point out where compensation has been paid at all in cases where people have been overcharged?
All of the lenders have or will have Independent Appeals Panels in place and one can appeal any aspect of the refund or the compensation.
But I would imagine that you would have to show actual financial loss and not just annoyance.
Brendan
Now now Clamball, I'm sure that the central bank will hit them where it hurts ...... an even more strongly worded letter.
In the meantime, they can continue to take money off people at 0.5% APR and loan it out at 12% APR.
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