AIB Has anyone received a 3rd response from AIB?

verywhys

Frequent Poster
Messages
108
I have just sent in my 2nd response to AIB, just wondering if AIB are likely to respond again or does it now go to tracker panel?
 

AnitaF

Registered User
Messages
27
I'm like you, still waiting on a 3rd response. Sent my response to their 2nd reply a few weeks ago now.
 

Megafan

New Member
Messages
3
Just yesterday.

Similar to earlier responses...doesn't propose to answer all points raised...makes reference to "then prevailing" common meaning which they interpret as current, not on the 1 year anniversary of the agreement as per clause 3.2. No tracker rate available until 2013 etc. Nothing new as far as I can see.

If we wish to respond further, or for the bank to respond further, it needs to get chairperson approval so we need to ring within 5 days which we will do and respond.

Mainly from our perspective to be a contrarian. The response from AIB is relatively concise this time. I guess I wouldn't want that to be final document to be discussed by the panel and ignore the points AIB chose to ignore in their responses.

Mainly, it seems like a bait and switch. If AIB just focus on those two words, but don't put them into the full context of 3.2, it muddies the waters.

I am a new joiner to the forum but a long time follower of the website and can honestly say, it has been a brilliant source of support so huge credit to Brendan and some of the posters.

(Separately, the current fix AIB are keeping under wraps on personal loans (the T267 corrections) is resolving issues that in some cases are over 15 years old, and most (myself included), weren't even aware they were due funds back. The bank is saying the average is €118 or thereabouts but I know from personal experience some of the refunds are far in excess of this so I think there is a ways to go before AIB can say this aspect of the tracker scandal is over).

If anyone has a legal brain, perhaps they could advise if that this was a legal court case, would it not create a dangerous legal precedent if AIB persist in the assertion that "then prevailing" means whatever they want it to mean, and ignore what the customer thinks it means?
 

Vfagan

New Member
Messages
5
I have just sent in my 2nd response to AIB, just wondering if AIB are likely to respond again or does it now go to tracker panel?
Just so you know, the "Tracker panel" are an utter waste of time. Their sole purpose is to delay and hope you go away. They will send you a response, after a lot of back and forward, to tell you, you are unsuccessful. You will then proceed to go through the Ombudsman. Mediation will take place and you will be told AIB are giving you nothing. You will then be asked do draft a final response for the Ombudsman's final decision. Then you will wait.
 

verywhys

Frequent Poster
Messages
108
Just so you know, the "Tracker panel" are an utter waste of time. Their sole purpose is to delay and hope you go away. They will send you a response, after a lot of back and forward, to tell you, you are unsuccessful. You will then proceed to go through the Ombudsman. Mediation will take place and you will be told AIB are giving you nothing. You will then be asked do draft a final response for the Ombudsman's final decision. Then you will wait.
I would well believe it but the central bank report seems to suggest that some appeals have been successful
 

Megafan

New Member
Messages
3
Hi Megafan, was that your 2nd or 3rd response from AIB?
3rd response in this sequence. (Or 5th/6th, if we refer back to the original updates from the bank last year). In our last response we leaned heavily of the suggested responses from Brendan and others, while leaving out the analogies.

BDO appear to be drawing a line in sand on responses on their cover letter this time around saying we have to get Chairperson approval before responding again, and applying that standard to AIB as well.

To me anyway, while AIB certainly have friends in high places, there is a logic in the appeals process and there is strength in volume of responses. Legally at least, I just don't believe that AIB can assign whatever understanding they have as been the only one, when we are talking about legally binding documents. As I mentioned above the customer notice below that AIB are presently refunding customers on goes back 15/20 years in some cases and it is related to documentation and interpretation.


So I disagree with VFagan above in that sense. Maybe is a waste of time or maybe it is AIB stalling. Why else are we in this process, why would AIB dedicate such resources in the tracker panel if it wasn't to keep it away from the courts. Or I could be wholly wrong..
 

Vfagan

New Member
Messages
5
3rd response in this sequence. (Or 5th/6th, if we refer back to the original updates from the bank last year). In our last response we leaned heavily of the suggested responses from Brendan and others, while leaving out the analogies.

BDO appear to be drawing a line in sand on responses on their cover letter this time around saying we have to get Chairperson approval before responding again, and applying that standard to AIB as well.

To me anyway, while AIB certainly have friends in high places, there is a logic in the appeals process and there is strength in volume of responses. Legally at least, I just don't believe that AIB can assign whatever understanding they have as been the only one, when we are talking about legally binding documents. As I mentioned above the customer notice below that AIB are presently refunding customers on goes back 15/20 years in some cases and it is related to documentation and interpretation.


So I disagree with VFagan above in that sense. Maybe is a waste of time or maybe it is AIB stalling. Why else are we in this process, why would AIB dedicate such resources in the tracker panel if it wasn't to keep it away from the courts. Or I could be wholly wrong..
i have actually met someone who received the same €1600 "compensation" and have no interest in following up on any further redress. So i would think their plan is to hope some people give up.
i could be wrong.
 

Brendan Burgess

Founder
Messages
38,690
Why else are we in this process, why would AIB dedicate such resources in the tracker panel if it wasn't to keep it away from the courts.
Eh, because they have no choice. It's a requirement of the Central Bank tracker review.

For the non-prevailing rate cases, the Appeals Panel serves a purpose. It does actually review the cases and awards additional compensation in about 50% of the cases.

For the prevailing rate group, it hasn't served much purpose as the Appeals Panel sends the same decision irrespective of the case argued.

When you get the third response from AIB, I see no further point in responding to it. Let the Appeals Panel make its decision.

Then you have the equivalent of a Final Response Letter which permits you to go to the Ombudsman.

Brendan
 

Megafan

New Member
Messages
3
Eh, because they have no choice. It's a requirement of the Central Bank tracker
Sorry about that, I got carried away on my soapbox above!

And I agree with you as well on the general point. From my perspective, it is healthy to make the arguments anyway whether the panel is in your corner ultimately or not. Nothing ventured, nothing gained etc...
 

coolaboola12

Frequent Poster
Messages
60
I just got most recent response from AIB and was asked to accept or reject their arguement, i just ticked the reject box and sent it back
 

tnegun

Frequent Poster
Messages
123
Same till waiting here too, getting the usual letter that its receiving attention, I spoke with BDO a few weeks back and the girl said they had a huge volume of appeals and mostly relating to the Prevailing Rate cohort.
 

tnegun

Frequent Poster
Messages
123
Got the 3rd response on Friday, same lines trotted out don't accept we had any expectation of a tracker, never sought one etc. so I just let it go to the panel now for rejection review right?
 

AnnaZP

New Member
Messages
5
I've just got my final response from the panel with a big fat 'unsuccessful' with the usual 'prevailing rate' story.... The letter gives me the option to reject the decision and refer the matter to the Ombudsman or the Courts...but at this stage I am not sure is it worth my time and energy...anyone else here has received the same response ? Are you going to reject the decision of the panel and continue this battle ?
 

verywhys

Frequent Poster
Messages
108
I am still waiting for my response.....I am in it for the long haul....I will continue to battle for as long as it takes....AIB are looking to reinstate bonuses on one hand while refusing to redress over 6000 families on the other.....It’s a total disgrace.....AIB need to honour their mortgage contracts.....my advice is don’t give them the easy out....continue the battle
 

AnnaZP

New Member
Messages
5
I am still waiting for my response.....I am in it for the long haul....I will continue to battle for as long as it takes....AIB are looking to reinstate bonuses on one hand while refusing to redress over 6000 families on the other.....It’s a total disgrace.....AIB need to honour their mortgage contracts.....my advice is don’t give them the easy out....continue the battle
You're right, I will continue and reject the response. Thanks for the encouragment !
 
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