What to expect as compensation from KBC

Aisling1

Registered User
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Hi there , apologies if this has been asked already but I am wondering has anyone any idea how much Kbc are giving as compensation , I got my phone call today regarding my review and they said I will receive redress and compensation but no idea what they define as compensation ? Any ideas would be a help !!
 
Hi Aisling ,
Just wondering have you been in contact with the bank for long or received much correspondence from them before receiving a phone call about redress/ compensation?
Thanks
 
Hi there
No very little I contacted them regards the review asking was I included that was in October or November. I’ve rang them every week since They told me I was included and They told me on Friday I will be redressed
 
Okay , congrats !
If you look at key posts at the start of this thread on Central Bank Tracker Review you’ll see info on calculations regarding interest rates and there’s some examples to follow.
There’s also info from some of the banks but I haven’t seen anything specific about KBC as yet.
Good luck
 
Does anyone know - is KBC giving cheques as a refund or crediting people's accounts? Or giving a choice? thanks
 
Many thanks....yes, a lot of it is a waiting game. But according to KBC’s December statement an earlier cohort was to have redress paid by the end of the 2017. So there must be some insights into whether mortgage balances are being reduced or a refund being issued or a combination. I see Brendan has previously posted about BOI’s approach to this...
 
@JackieG
That first cohort seem to have had an initial and decent refund cheque as a first payment with further payment due when calculation is completed.

From the couple of posters that received the cheque, the amount was substantial.

Maybe they'll do the same on the current cohorts.
 
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