AIB You can call the helpline to see if you are included

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Milkof

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Thank you Brendan for guiding us to this outcome. It's a great result for people like me who no longer have anything to do with AIB, for those still seeking their tracker it's not as great.

I called the helpline this morning to get the official 'story'. They are now saying the timeline for compensation is July / August and that each case will be reviewed individually - that the 12% will not apply across the board, though I'd say you can take that with a pinch of salt. For anyone wondering if they are impacted you can give them your mortgage account number and they will check if you're under review.

If customers have any queries, they can call our dedicated Helpline on 1800 235 460 (or +353 1 7715888) between 8am and 7pm, Monday to Friday.

Also, anyone who has since moved on - you should make sure they have the right address to send the cheque and further correspondence, they didn't for us.
 
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I called them too and got a similar answer they knew very little. No timeline for notification either just that it would be concluded by July/August.
 
I rang the help line today.

As advised on call, all and only anyone who got the letter back in March 2018 with the €1650 cheque is included in this latest announcement.

The 12% redress is fixed. That’s across the board for everyone. Write down of 12%.

The variable or case specific element relates to the repayment of interest associated with the difference between interest paid and what would have been paid with the write off.

What will get back as part of this will depend on the value of mortgage, term, interest rates applied during the period. This they say will differ from case to case.

Worth noting. He advised that repayment history would be a consideration so maybe those who failed to keep up with commitments will be treated differently.

No info on if had to sell house will redress be higher.

Ended with Advising me there is nothing for me to do, just expect communication in July / August.
Impression I got was the payment will happen at this time also.


Won’t be a case of getting a letter in August advising of the decision.
Then having to wait another few months for a letter to advise detail of redress and wait again for payment.
 
Neverever said:
I rang the help line today.

As advised on call, all and only anyone who got the letter back in March 2018 with the €1650 cheque is included in this latest announcement.

The 12% redress is fixed. That’s across the board for everyone. Write down of 12%.

The variable or case specific element relates to the repayment of interest associated with the difference between interest paid and what would have been paid with the write off.

What will get back as part of this will depend on the value of mortgage, term, interest rates applied during the period. This they say will differ from case to case.

Worth noting. He advised that repayment history would be a consideration so maybe those who failed to keep up with commitments will be treated differently.

No info on if had to sell house will redress be higher.

Ended with Advising me there is nothing for me to do, just expect communication in July / August.
Impression I got was the payment will happen at this time also.


Won’t be a case of getting a letter in August advising of the decision.
Then having to wait another few months for a letter to advise detail of redress and wait again for payment.
Click to expand...
Is that not at odds with the €1,615 figure that has been used to date for impacted customers?
 
It’s €1,615. People keep saying €1,650 but we all got €1,615 - €1,000 in compensation. + €500 plus VAT @ 23% - €615 towards professional fees if we wanted to engage a solicitor/other financial expert
 
Spoke to someone on the helpline who could not have been less helpful.

No idea of how they will calculate compensation. No firm idea of when we will receive it.
 
Please do not name staff in this thread

It is very interesting to hear what people are being told, but do not name the people to whom you speak.

Brendan
 
Just off the phone to the Aib. Was told that not everyone's payment will be the same and payments will be made in July or August!
Happy days...its always a good day when a bank says its going to give you money
Thanks Brendan for all your hard work
 
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