Banks VERY slow at refunding GSD (Government Stamp duty for Credit Cards)!

M

Moneypit

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I'm sure there must be others in the same boat on this.

Myself and my husband transferred our credit cards to Halifax last year, he was with BOI and I was with AIB, we both paid €40 each GSD on closing the accounts down (payment in advance for 2008), in December's budget the amount was reduced from €40 to €30 which meant we had paid an overpayment of €10 each.

To be honest I probably wouldn't have noticed only for BOI wrote to my husband to let him know and said they would send him a cheque in due course.

Six months on and nothing from either bank, I've rang a few times now and I get the same answer "there's a project in place to organise refunds for everyone effected and you'll get your refund in another couple of months".

Now, I know it's only €10 but presuming there's a lot of people in the same boat that's a lot of €10's the bank is holding onto and gaining interest on! :mad:
 
Re: Banks VERY slow at refunding GSD!

If necessary make a formal complaint in writing to the bank. If you get nowhere then take the matter to the [broken link removed].
 
Re: Banks VERY slow at refunding GSD!

I did the same and the €10 was posted to my current account a couple of months ago as a credit (BOI also). Could this have happened and maybe the person you were speaking to wasn't fully up to date. As it is such a small amt it would be easy to miss on your Current Ac?
 
Re: Banks VERY slow at refunding GSD!

I've had a similar problem with AIB Visa. Contacted their customer services several times since April and was told each time I asked about the GSD refund that I wasn't entitled to a refund, because I paid €40 before the budget announcement! When I pointed out that I was entitled, I got the same info about the "project to issue €10 cheques" as earlier posters.

Writing to the bank sounds like a good idea at this stage - it is only €10, but it's my €10!
 
Re: Banks VERY slow at refunding GSD!

Hi Moneypit

I got the same BS from AIB way back this year. See this thread

Same old team looking into it, identifying who has to be paid, etc.

I only got my tenner back about a month ago, by cheque in the post.

I was forced to go through AIB's Complaints procedure, including sending them a letter as a follow-up to phone contacts.

They are the most tight-fisted shower, but you must follow this up and insist on getting your money back!!!

Always remember, these are the guys who we, the tax-payers, bailed out years ago over the ICI debacle, and continued to pay for years in every insurance policy taken out, remember the DIRT scandal, their extremely lenient treatment of Haughy and Fitzgerald in debt write-offs, the infamous facilitation of bogus non-resident accounts, etc. etc. etc
 
Re: Banks VERY slow at refunding GSD!

Thanks for the replies and especially irishpancake - interesting to read you got the runaround on it too, I think it's scandalous because I really believe there's a huge amount of people out there that don't even realise they're owed €10. Purely out of principle now I'm going to send off a few letters kicking up a storm. I tell ya if I owed them €10 they'd be quick enough getting it off me! :(
 
Re: Banks VERY slow at refunding GSD!

You are most welcome Moneypit.

Sorry about the AIB rant, but it was late at night :D

I just feel strongly that Banks are quick to come to the tax-payer for bailouts when their commercial decisions go wrong, but not so quick to stump up when they owe customers money.
 
Re: Banks VERY slow at refunding GSD!

AIB are just unbelievable!! I wrote a letter using more or less the same wording as Irishpancake suggested on 15th July, no reply, response, nada. I rang again yesterday only to be told the same old rubbish, and that it would be another few weeks. I told the guy on the phone that I was sick hearing that and I was now going to the Financial Services Ombudsman about it, which I've now done so it's in as an official complaint. I know it's only a nominal amount of money but I'm surprised that this hasn't been picked up on by the press, there's a lot of people out there that are not even aware of the money owed to them.
 
Re: Banks VERY slow at refunding GSD!

Yippee!!
I got my €10 refund from AIB VISA today in the post!
Hadn't gotten round to writing to them but had been on the phone several times since April.
So the system does work....slowly!
 
Well, I'm still waiting. My complaint has been officially lodged with the Ombudsman nearly two weeks now and I've heard nothing from nobody ... lovely.
 
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