UB mortgage to PTSB - 2 direct debits

[Mortgage Query9]

Hi
I had a UB mortgage with 2 portions and different interest rates applied to each portion, same term. UB set this up as a parent account and 2 child accounts so one direct debit for the total amount and then they allocated the funds on the backend. PTSB have created 2 accounts and are taking 2 direct debits each month. This is really annoying aside from anything else but on a more serious level it’s exposing confidential data to my current bank i.e. they know I have 2 rates on my mortgage due to the set up or they incorrectly surmise that I topped up my mortgage (I didn’t), I object to having to explain why the set up is as it is - I have been asked by PTSB & my current bank.

When I raise it with PTSB I’m not really getting anywhere pretty much computer says no - they really are an inferior bank to UB. Does anyone else have this issue and if so how did you resolve? Is there any regulation that I could utilise to force them to protect my confidentiality.

Thanks

 

[ClubMan]

on a more serious level it’s exposing confidential data to my current bank i.e. they know I have 2 rates on my mortgage due to the set up or they incorrectly surmise that I topped up my mortgage (I didn’t)

How would they know or infer any of that from two DDs on the account? Even if they could, why would it matter?

I object to having to explain why the set up is as it is - I have been asked by PTSB & my current bank.

I don't understand. Who has asked what exactly?

When I raise it with PTSB

Raise what exactly?

Is there any regulation that I could utilise to force them to protect my confidentiality.

I really don't get the issue about confidentiality here. When you're a customer of a bank they know things about you. In fact they're obliged to under the "know your customer" rules.

 

[skrooge]

I don't really see the confidentially issue. All your existing bank knows is that there are two payments made to ptsb. After that they can't gleam any more information. They can't tell if it's for one or two properties or if one is a car loan and the other a personal loan.

A split mortgage is not that uncommon. Some people like to fix a portion and keep some variable. In saying that I would imagine 2 DD's is a little odd but this could be a quirk of the transfer and different approaches by the two banks.

As to the validity of PTSBs approach did you sign two DD mandates? If not it might be one avenue to consolidating the payments.

 

[Mortgage Query9]

Thanks for your replies. My current everyday bank is not PTSB and the 2 direct debits are queried if I apply for anything with them i.e. why 2 payments - explain it and the only reason I’m asked that is because of the way PTSB have set this up - it’s pure laziness as far as I’m concerned. The banks themselves have said oh was it a top up - which rightly or wrongly is perceived as a negative by the bank - that’s the inference. I didn’t sign 2 direct debit mandates - that’s a good steer - thank you I’ll raise this with them.

 

[skrooge]

Thanks for your replies. My current everyday bank is not PTSB and the 2 direct debits are queried if I apply for anything with them i.e. why 2 payments - explain it and the only reason I’m asked that is because of the way PTSB have set this up - it’s pure laziness as far as I’m concerned. The banks themselves have said oh was it a top up - which rightly or wrongly is perceived as a negative by the bank - that’s the inference. I didn’t sign 2 direct debit mandates - that’s a good steer - thank you I’ll raise this with them.

When you say you applied for something and it gets queried I presume you are applying for a loan. Any and all DD and loan agreements will be checked to asses your repayment capacity. So materially it shouldn't maritally change the assessment.
It might be worth checking your central credit register to see how the loan(s) are reported there.

 

[ClubMan]

My current everyday bank is not PTSB

Did you mean "now"?

and the 2 direct debits are queried if I apply for anything with them i.e. why 2 payments - explain it

Standard practice when applying for a loan as @skrooge has explained. And it's irrelevant that there are two DDs.

it’s pure laziness as far as I’m concerned.

I don't understand this at all. You must have mandated the two DDs at some point and there must have been a reason for the payment to be split this way. A bank can't unilaterally change how a customer's DDs are set up and managed!

I didn’t sign 2 direct debit mandates -

If you have two DDs then you must have authorised them somehow.

 

[rameire]

If you have two DDs then you must have authorised them somehow.

The Direct Debit Mandates moved from Ulster Bank to PTSB and PTSB took ownership.
I think with Ulster Bank they took the direct debit as one payment from the servicing bank and applied it accordingly.
with Ptsb they have split the direct debit so they take two and apply two.
Its the quirk of the bank as you say.

as for the confidentially issue from Mortgage Query9 if you are getting a loan or applying for something when they do a credit check they will know exactly what you have and where, they are not looking for a pound of flesh.

 

[Mortgage Query9]

@ClubMan you don’t seem happy with my responses please feel free not to reply.

The issue is as I think the majority of people will understand I only want one direct debit for my mortgage each month I don’t feel that this is at all unreasonable given this was the norm up to the move to PTSB and is the norm for most people. As Rameire pointed out the dd transferred from UB to PTSB I did not sign 2 direct debits at any point for PTSB. The confidentiality is an issue for me and as I said the only reason this is raising queries is because of the 2 separate payments.

I’m really not here to argue whether others feel my confidentiality is being effected or not I’m simply asking if others are having the same problem and if / how they addressed it.

Thanks

 

[rameire]

its how the PTSB systems work, you can question it but they will tell you to go kindly where they want you to go.

 

[Mortgage Query9]

@rameire thanks for the reply and yes I feel from my conversations with them so far this will be their answer that’s why I posted to see if any others are having the same problem. I don’t think I’ll be with PTSB for long.

 

[ClubMan]

@ClubMan you don’t seem happy with my responses please feel free not to reply.

Not unhappy. Just confused because some of the details don't add up or make sense.