Ulster Former First Active now Ulster Bank Customer

Rang yesterday, was told the New 1500_2000 accounts won't hear anything until September 30th at earliest. End of June is for redress of customers who were told they were impacted and the wait goes on....
 
Told we were impacted last June, they have been reviewing our account with the last TWO weeks still no redress/compensation letter been sent out. Ours is a very straightforward case so not sure what’s taking so long!
 
Ulster Bank to pay €30m compensation to thousands of customers over fee blunder

https://www.independent.ie/business...s-of-customers-over-fee-blunder-37010775.html

Just keeps getting worse. The waiting will go on and on. Ulster Bank are frankly unbelievable at this stage. If I do not get my tracker back I am absolutely moving my mortgage to another lender at the end of this process/saga. I really hope there are prosecutions and the heads of Ulster held accountable for their theft and appalling actions against their own customers.
 
Told we were impacted last June, they have been reviewing our account with the last TWO weeks still no redress/compensation letter been sent out. Ours is a very straightforward case so not sure what’s taking so long!

I'm told Ulster before Finance Committee Tue June 29. All need to email committee to highlight [email protected]
 
No not yet it will take a number of weeks due to systems within Ulster
As soon as I know what cohorts are affected I will post again

In advance of Ulster appearing before Finance Committee on Tuesday next is there any clarity on total numbers and timescales. Committee should be contacted at [email protected] with details of dismal progress and lack of communication by UB.
 
I see ebs/aib are now rectifying the accounts of people that fixed and did not go back to tracker ...saying they are now impacted ...I hope ub do the same for us ! Congrats @PadKiss i know you worked hard on this ...only for you a lot of people would still be out of pocket
 
Ulster bank have come out to say first active cohorts not impacted at the finance committee not looking good
 
Yes and it seems that the CBI know their stance on it too, the additional 1000+ customers they have found will be notified within the next 2 weeks...believe when I hear it!
 
Yes and if they knew that why didn’t they let us know by a correspondence letter instead of the 60day wait letter!!
 
They didn’t confirm that but said that the First active customers who signed the fixed term letter are not impacted
 
So my case is had a tracker account then went fixed for 3 years in 2007 signed the fixed term letter saying that I lose my tracker but could go on the prevailing tracker rate when term is up , then the product was no longer available in 2010 so lost complete tracker
 
Same here also, this cannot be right because some customers who signed this form had their tracker restored e.g. poster @corktim...

I am close to tears, how can they do this and get away with it when the wording refers to a “prevailing tracker rate”@?!!

Other banks have to restore trackers based on similar wording....
...and then to add insult to injury they have dragged out the investigation so long and won’t even let us know their decision, we have to find out from the Oireachtas committee.
 
See the attached @Monbretia, it’s a copy of the document key to all this (conviently now referred to by UB as “Tracker Removal Letter”, when it was never so named by FA)

The 3rd paragraph is the key, the emphasis in bold below is mine. This states that the rate would revert to one not linked to the ECB unless another fixed rate or the prevailing tracker mortgage offering was requested


Am I thick to think this meant I was entitled to request a prevailing tracker rate? (as I did)
Seriously, what am I missing???

Other banks have had to offer a “prevailing” tracker rate even when discontinued ( see all the posts re AIBs prevailing rate)
 

Attachments

  • 0498CAB7-11FE-48CA-9244-D81D29F8C458.jpeg
    0498CAB7-11FE-48CA-9244-D81D29F8C458.jpeg
    94.8 KB · Views: 394
Back
Top