PTSB ptsb withdraws appeal to Supreme Court on trackers; CBI taking enforcement action

Status
Not open for further replies.

matan

Frequent Poster
Messages
68
It sure is interesting! Just wondering if anybody else who sent that fax back in jan / feb 2008 ever received correspondence from PTSB confirming they were transferred from fixed to variable?
 

George12

Frequent Poster
Messages
43
I broke mine in Dec 2008 and got a letter back. Like you I was told what to say in the fax. Also I would have not used a fax unless I was told to as at that time I always wrote letters. While they could interpret our faxes narrowly and say that they actually just gave us what we asked for I don't think that would be appropriate in the circumstances and if they do we know they are up to their old tricks again and this exercise is some sort if odd PR event.
 

Dermot

Frequent Poster
Messages
1,037
Where can a whistle blower be found in PTSB when you want one. Maybe Charlie Weston could encourage some one to tell the story. I never was a customer of PTSB but cannot help feeling that there has been something sly going on there.
 

phil

Frequent Poster
Messages
53
I never received a new contract either or confirmation of receiptof fax. Jan 2009.
 

fuzzy10

Frequent Poster
Messages
149
The last 4 years has not felt as long as the last week! Haha
I agree. I seem to expect the postman to deliver a letter soon but as we all know, this process could still take considerable time! I reckon the bank is inundated with new complaints every day, while delegating a solution to previous complaints!
 

taldar

Frequent Poster
Messages
80
Yes but the 80 or so customers who have taken a complaint to FSO and have been waiting 4/5 years should at least recieve a letter from ptsb stating we are looking at your issue and are in the process of working out your refunds. Should be giving us a time frame at the very least.
 

fuzzy10

Frequent Poster
Messages
149
Yes but the 80 or so customers who have taken a complaint to FSO and have been waiting 4/5 years should at least recieve a letter from ptsb stating we are looking at your issue and are in the process of working out your refunds. Should be giving us a time frame at the very least.
Hi Taldar, I totally agree...
 

Bronte

Frequent Poster
Messages
13,686
Faxes

Just to point out something to everybody. At one point, not just PTSB, but Ulster and I assume others, you could send a fax. But at some stage this was no longer allowed. As in they insisted the document had to be signed by both parties and had to be originals. If I remember it correctly (I would have fixed at various times in the last 20 years).
 

Bronte

Frequent Poster
Messages
13,686
The information provided is the CB is investigating and this may involve tens of thousands of customers (Their Words) and they have a 3 month timeline to identify affected customers and communicate with them to redress the issue.

.
I would prefer to get this in writing from the PTSB if I were a customer affected who was not already in the FO files.

Has any other poster, not in the FO, received the same confirmation as Talder in writing?
 

Gregory

Registered User
Messages
17
I phoned the PTSB dedicated line on Tuesday. They told me i didnt need to lodge a case/complaint with them as they have been instructed to review everyones mortgage, regardless of whether they made a case/complaint with them.
They said if i hadn't received a letter from them by 6th May to contact them.
 

matan

Frequent Poster
Messages
68
6th May God another long wait so. Im fed up with it now at this stage. I do agree and think people who complaint to FSO should hear sooner.
 

Bronte

Frequent Poster
Messages
13,686
The Central Bank will surely have a lot of egg on their face now if they don't face down PTSB on not just those customers within the time frame but those others who are not hoping to be recompensated.

Hopefully the Sunday Independant and Business Post will have large articles on this for the CB staff to mull over their Sunday breakfasts. Come on CB, be the hero's. You've been sadly lacking up to now, take the opportunity to bask in some glory against the banks and their underhand antics.

Think of how this money will be a stimulus to the economy, all the new cars, house extensions, shopping etc.
 

Gregory

Registered User
Messages
17
Just spoke to the central bank, he told me to wait for a statement from them in due course.
He also said he was unaware of any 3month period in which PTSB have to inform their customers.
 

PTSBCase

Frequent Poster
Messages
81
I have spoken to the central bank, PTSB and FSO. I was only 15 days outside of the 6 year period whereby I could submit a complaint to the FSO. I was unaware I had a case until I heard the news and looked at my contracts last week. I too broke out of my fixed term with no breakage fee in Jan. 2009. I would advise everyone to submit a complaint in writing/email to the PTSB regardless of whether or not you are outside the 6 year window if you feel you have a case. I have been advised that the FSO is to look at your case if PTSB don't return a satisfactory response within 40 working days. The Central Bank also advised me to submit a complaint. The FSO said it could not deal with my case as it's outside of the 6 year window. As the FSO is regulated by the Central Bank I emailed the Central bank regarding this. I am hoping that because there is an enforcement action that the Central Bank can allow the FSO to accept additional complaints (This may be important as I'm guessing PTSB are not going to be offering good deals). The Central bank emailed that the FSO does have a 6 year exclusion period and that the 6 year exclusion period doe not apply to PTSB. I have emailed the Central bank to clarify to me that I am permitted to submit my case to the FSO once the 40 days are up after my initial complaint to PTSB. I am awaiting their response. I think it is important for everyone involved to submit complaints, keep records and use all options available as PTSB have not treated their customers favourably - hence we need to do everything to the book to ensure that if we are eligible to get our tracker rates back that we get the best and correct rate and are all treated equally.
 

Brendan Burgess

Founder
Messages
38,666
As the FSO is regulated by the Central Bank I emailed the Central bank regarding this.
The Central Bank does not regulate the FSO. The FSO must act according to the statute which set it up.


The Central bank emailed that the FSO does have a 6 year exclusion period and that the 6 year exclusion period doe not apply to PTSB.
That is really interesting. It sounds as if the Central Bank has told ptsb to ignore the 6 year rule.

Brendan
 

southside100

Frequent Poster
Messages
32
I used to work for PTSB and still have contacts there. I have been told that they are reviewing all cases from as far back as 2006 up to 2008. As I broke out of my Fixed Rate in Jan 2009 I asked my contact to try to find out the exact dates for me, but it does appear that they are overlooking this 6 year period. My contact tells me that the letters are being prepared to be sent out to affected customers in early March, but the Central Bank may delay this date, they did not say why there would be further delays. My contact also said that the refund amounts are quite substantial in a lot of cases.
 
Status
Not open for further replies.
Top