PTSB collecting monthly mortgage repayments much faster now

S

STEINER

Registered User
Messages
1,162
PTSB communicated to me recently that they would be taking the monthly mortgage repayment exactly on the due date, for me the 2nd of each month. Prior to today 2nd Jan, the repayment never left my current account until the 4th, 5th or even later. That is much faster. There is a curious narrative in my current account with my repayment today, D/D HOGAN DIRECT D as opposed to the OP/PERMANENT TSB one for the last 7 years. Any ideas what Hogan means? Hopefully the repayment is not going off a Mr. Hogan's mortgage?
 
I am open to correction but I think HOGAN is the name of their mortgages servicing system. I think they either got a new one or upgraded their existing system which probably explains why they have become much more efficient.
 
I got the same for both my mortgage payments and they happened on the 2nd rather than the 10th as usual
 
It will be tied with the move to SEPA which presumably PTSB used to improve inefficiencies in their DD collection process/system. OP was the old pre-SEPA direct debit code.
 
Sunny said:
I am open to correction but I think HOGAN is the name of their mortgages servicing system.
Click to expand...

Poor show on PTSB's part in (1) using such a meaningless name and (2) in not informing customers in advance. If the money is coming from a busy account it may not be obvious it's PTSB's DD. I learned from this website. PTSB will get a flood of calls next week.

BazzaDP said:
OP was the old pre-SEPA direct debit code.
Click to expand...

Not sure if it's 'was' yet ... I see OP/CG for last month's LPT DD.
 
local said:
Poor show on PTSB's part in (1) using such a meaningless name and .
Click to expand...

This name is worse than meaningless. Using a surname common in Ireland will worry a lot of people that the Hogan family is having their mortgage paid off.

Brendan
 
Another example of where it should be mandatory for the trading name of the institution to always be displayed in the narrative field on bank transaction statements.
 
I've just had heart failure. Wasn't informed about the changes and didnt realise the payment would be earlier in the month. I phoned the lost/stolen card number. The person I spoke to had a vague idea that Hogan sounded familiar. Got more info here. Phew !
 
I was also wondering what that was

Also due to the recent rate decrease the monthly repayment was different to November's so even when I had a look at November's transactions there was no comparative figure

Very poor customer service but who is surprised at that really.
 
STEINER said:
There is a curious narrative in my current account with my repayment today, D/D HOGAN DIRECT D as opposed to the OP/PERMANENT TSB one for the last 7 years.
Click to expand...

New RIP mortgage with PTSB the DD went out on a Sunday the ref used was an account number and a sort code.
 
Direct Debits transaction processing have been overhauled as part of SEPA compliance.

If PTSB are using a third-party product for DD handling, and if the narrative is set to be the product vendors name, someone in PTSB deserves a 'D' hat :rolleyes:.
 
Something we are well aware of. It does not excuse PRSB from failing to do things properly.
 
You must log in or register to reply here.
Back
Top