# Bank customers who switched banks may be entitled to substantial compensation



## Jim Stafford (12 Apr 2018)

I note that there are some 39 pages of postings in this forum on the Tracker Redress issues.  I do not know if  a posting has been previously made on the above heading.

Most customers at this stage have been notified of their entitlement to compensation.  However, I believe that some customers, particularly those customers who “switched” to another bank, in advance of being notified by their existing bank that their interest rate was about to be increased, may not have been notified of their entitlement to compensation.

I also believe that some customers who “switched” banks at the time may be unaware of how valuable their claims for compensation may be.  For example, a customer may have been charged the incorrect rate for, say, just 3 months in 2010 before they switched bank, and may have received a compensation cheque for just those 3 months and be happy with it.  The customer may not realise that he/she is now actually entitled to a tracker mortgage in 2018, and for 8 years compensation!

We have updated our blog page on Tracker Redress, www.frielstafford.ie/blog to highlight the issue.

Jim Stafford


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