PTSB ptsb will tell you over the phone if you are getting a refund

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Izzysar24

Registered User
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So I rang the normal open24 line and was told they have been told to stop giving the information to who is on the list and the normal you will be notified in the next couple of weeks if you are affected. - typical
 

matan

Frequent Poster
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68
Typical - Efficient and consistent as ever!!!!!! I too kept getting "technical difficulties" so phoned Central Bank, investigation is not complete, so lets wait for letters now.
 

PadKiss

Frequent Poster
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217
Hi all
I wish to update you on matters, I spoke with PTSB yesterday and was assured that the info in the Sunday Indo did not come from PTSB. In regard to the telephone number for people wishing to contact this was also 'an error' as the investigation is currently ongoing and information cannot be given to parties until the investigation is complete which it currently is not. I was very irate with PTSB yesterday as there is conflicting stories coming out but the Head of the investigation within PTSB assured me that the matter is still under investigation and until complete, correct information cannot be given, which I understood and accept. He has agreed to meet with me when the investigation is complete which is expected in the next couple of weeks. I know this will frustrate many but it is the process and is correct in terms of investigations with the Central Bank. As soon as there is an update I will let all know. Be assured that all matters tat needed to be looked at will have been looked at but like all I have to wait until the letters are finalised and posted to see how it is proposed to resolve the issues. Only then will we as a collective be in the correct informed position to see the merits of the investigation. Until then we must leave it in the Hands of the Central Bank but remain certain that if matters are not properly addressed in the 'outcome letters' I will be addressing this in my meetings with PTSB. I know the frustration this update will bring and to me too but this is the correct position as it stands at present. I also believe that the people who phoned yesterday were likely given the correct information in regard to their accounts as I would assume that this is the foundations of the processes that will be put in place for dealing with matters when the investigation is completed but someone jumped the gun so to speak and this was not really acceptable given the matters at hand and how long it has been ongoing, which I expressed to PTSB in my phone call.
Hope this clarifies matters Padraic
 

Kiffagirl

Registered User
Messages
16
Just off the phone to someone in ptsb( have complained so often I have my own customer advisor) anyway they couldn't tell me anything directly but said... I would expect you to have a significant rate change by your August payment, and that they expect to give more info next week and they would call me than.
 

dec_hy

Registered User
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13
hi, my wife looked at our mortgage account online there and it looks like the august payment is going to be on the tracker rate. ecb +1.1%. the very good news for me is that we didn't have a specific number in our signed contract. it did say ECB +1.1% in the draft contract that our solicitor reviewed (but it was changed before we signed without flagging it to us) and the loan offer, in other letters etc.... I'm still looking forward to getting the letter but its a good sign I think.
 

dec_hy

Registered User
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Brendan - yeah, the online system gives an overall summary and tells you total amount due, term to go etc... but more importantly your interest rate and the next payment due. that's been updated to reflect the change to tracker.
Lauren - its prob the same payment (end july) - I assumed was August in advance.

I'm still waiting on the letter before getting too excited though
 

joe351980

Frequent Poster
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94
I've still on variable rate and not 100% sure if I'll be receiving a letter or not. My query is what the arrangements for compensation will be.

The way I see it, clients are entitled to a refund of the money PTSB overcharged/stole/TOOK ILLEGALLY from our accounts.

I understand everyone should receive a lump sum for the overpayments and that this 'proposal' that the bank are making will look very attractive as a result of same. But this bank took money illegally from us for the past 5 to 6 years when we were most vulnerable and they needed cash. I would tell all affected clients to be very wary of what compensation the bank offers.
 

katnia

Registered User
Messages
25
I just checked our mortgage online - next payment is due to come out 7th August (july payment) and it still shows the variable rate of 4.5%...I rang when this line was opened on Monday and was told that we were affected...not sure if this means that we are not affected now or just our details have not been updated yet? Anyone else that got told they were affected but still have the old rate showing up online?
 

George13

Registered User
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I just checked our mortgage online - next payment is due to come out 7th August (july payment) and it still shows the variable rate of 4.5%...I rang when this line was opened on Monday and was told that we were affected...not sure if this means that we are not affected now or just our details have not been updated yet? Anyone else that got told they were affected but still have the old rate showing up online?
I am the same as you Katnia really albeit they told me on the phone rather than online
 

Lauren 5

Registered User
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31
I'm not on the online banking so I rang them up as well, and mine has changed, I would recommend for use to set up the online banking so youse can keep an eye on it,
 

dec_hy

Registered User
Messages
13
Katnia - our next payment is due next week (28th) so it may be just a timing thing.
 

working mom

Registered User
Messages
12
Hi all ,

I use open 24 banking but have never used it for checking anything to do with the mortgage , do I need to set up ? Or how do I view it online ?
 

matan

Frequent Poster
Messages
68
I just phoned PTSB as not online banking. My august repayment is due 18th and is still the same as always so dont know where thats puts us.
 

fuzzy10

Frequent Poster
Messages
149
No update on my mortgage acc but I'm in a 5yr fixed term mortgage. I would expect some correspondence from PTSB before this is rectified?
 

PadKiss

Frequent Poster
Messages
217
Hi all
I have put another phone call to PTSB today to attempt to understand what is happening. It appears some accounts are now adjusted to their tracker margins going forward, this is very strange to have occurred before any letters of communication have gone to customers explaining clearly what is happening. I have also sent an email to the Central bank expressing the varied happenings with peoples accounts. I would encourage all affected to contact me so we can at the least attempt to get a consistent resolution to all affected customers. It appears to me that it will suit PTSB perfectly if there is a dividing of the herd so to speak and if we could have a unified approach at least those who are being offered solutions can have it confirmed if indeed it is at least correct, fair, reasonable, and if it addresses the very serious concerns of what has occurred.
There is an old line in regard to tax refunds and beware here again
it is "everyone gets excited about a tax refund until they realise its their own money" the refund of interest adjustment alone will not be enough to resolve matters to satisfaction. I have dealt with too many people who have had their financial lives destroyed by what has gone on and the robbery of their money for over 6 years. If this is not addressed fully in the completion of the investigation then the investigation will have been futile but i remain confident that the Central Bank will address these live concerns
Padraic
 

joe351980

Frequent Poster
Messages
94
I agree Padkiss. I contacted your office earlier today and I sent you a private message. The banks will refund us our money, and this lump sum will 'gloss up' the level of compensation we will receive.

The banks will put the minimum level of compensation to us with these proposal letters they are to forward on to us. Don't be fooled into thinking they are giving us a great deal or that it's great to have our tracker back.

PTSB will try and repay the absolute minimum out to customers. PTSB have gone to extreme lengths to try and deny us what we signed up for. I liked the forum 'PTSB will pay penalty' but the penalty has to come from their pocket, not giving us back what the 'overcharged' robbed, stole, took from us illegally.

In a newspaper article it says 'the biggest penalty will be the banks reputation'. The banks reputation means nothing to most people, including those who work in it. All the bank is interested in is making money.
 
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