Ulster Bank story today Daily Mail

Brendan Burgess

Founder
Messages
38,467
Hi nonie

I saw the written decision in notabene's case. It was just a lump of money without any rationale behind it. In the Ulster Bank internal correspondence they said that it was cheaper to have an award made by the FSO as it would be a lot less than the cost of taking her back as a customer and giving her a refund of the overcharge.

Brendan
 

nonie

Frequent Poster
Messages
41
Thanks Brendan.
That's what I couldn't understand. I was able to calculate how much we had overpaid... So how much of each of those amounts are refunds and how much is compensation? Two very different things.
 

Brendan Burgess

Founder
Messages
38,467
The Financial Ombudsman doesn't usually award compensation as such.

So he would have regarded the figure as a refund.

But, as I have pointed out, he didn't know how to calculate it so he just picked a figure from thin air.

Brendan
 

nonie

Frequent Poster
Messages
41
Crazy stuff.
@notabene were you able to calculate how much your "refund" of overpayment should have been? And therefore did the payment cover the refund?
 

Googsie

Registered User
Messages
8
Finally received a letter from Ulster Bank yesterday that confirmed I have been identified as having been impacted. Delighted!
Not sure if is this a one-off letter to me or if they are currently reviewing switcher mortgage accounts.
 

Brendan Burgess

Founder
Messages
38,467
Hi Googsie

That is great. It is shocking that it has taken so long to send you this letter.

I know that Nota Bene was told in January that she was affected, but has heard nothing since.

I suspect that Ulster Bank has a proposal for dealing with cases like yours, but they need to get the Central Bank to approve of it.

Brendan
 

Googsie

Registered User
Messages
8
Thanks Brendan.

Nothing short of disgraceful from Ulster Bank - it's been a really frustrating experience.

People like Nota Bene were expecting details of compensation and redress as far back as March and we're still waiting.

Googsie
 
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