Redress payment date for Ulster bank

B

businessgirl

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good evening

I know it's the 1million dollars question but has anybody got any idea at all about an approximate date of payment re-redress and compensation due to Ulster bank customers?
Can we talk end of the year at least?
We got the tracker rate back together with all the bla bla letters but now, like a lot of people I am sure, The waiting is driving us mad ...:-((
Thank you for your help!
 
Probably best to email the members of the Dail's finance committee to whom the bank will be reporting soon. They haven't provided any updates to customers but they might move more quickly on the issue if there is some pressure from politicians.
 
Hi there ,

I am as frustrated as you are, I won't believe it until I see it. It's like winning the lottery and then losing your ticket. I thinks it is madness the way we are being treated. It's like offering a baby sweets and then taking them back again. You just don't know what to expect or when to expect it. All I know is that we over paid since 04 and I think we are entitled to some sort of time line up date at this stage. Even if they said sorted by year end at least we would have a time limit on it but the not knowing is killing me.
 
The fact that customers are identified and that banks are dragging their heels about calculating the amount of the redress and compensation owed is a scandal in itself. There is no reason why we have not been given the calculations at least at this stage and a timeline for the expected refund. Having overcharged us for years the banks are now holding onto our money for an unacceptable length of time after the overcharge has been identified. (As a BOI customer this is six months and counting). If we were six months delayed with our mortgage payments the banks wouldn't be patiently waiting to hear from us. They would be in regular contact to know when we were going to pay. The best thing to do is email your local politicians and highlight the issue.
 
At this stage I am confident that the banks will commence redress on the same date that the ECB announce an interest hike. We are now half way through the year and many of us have not even been identified as impacted even though we know we are and still not back on the tracker rate we are entitled to never mind compensation. Imagine how fast they would be trying to restore customers to the tracker rate if it were to become profitable.
 
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