# Ptsb redress tracker and compensation



## Cloisonné (11 Dec 2017)

In April of 2016 we were informed by ptsb that we had been on the wrong interst rate and therefore entitled to compensation and redress.
The overpayment was  €61,000 and in the letter it said we would get €6,000 compensation also €6,500 refund. We send back our letter and received the compensation of these amounts and they adjusted the interest rate accordingly to the correct rate 1.15 instead of the higher amount of 4.2 approx which was great... it reduced our monthly payments by €400.00 each month.

We have appealed through the appeals process to ptsb saying that we felt the compensation offered was just not enough.
We sent in a folder full of documents showing that we had suffered directly as a result of the overpayment of interest. We asked for a realistic compensation amount as we didn’t feel €6,000 offered  for an overpaying over 7 years was sufficient we also asked for the remaining overpayment of €55,000 to be returned to us €61,000 was overpaid but all we got was €6,000 back from that overpayment.. the other €55,000 they put  off the warehouse part of our mortgage we have a split mortgage. They later responded saying the appeal was rejected without any real detail.

We have read on this forum that people have received refunds of their overpaymentand it wasn’t put of their mortgage... instead they received a full refund.

I have been following the central bank and waiting for updates as I believe the pressure is surely on the banks now to pay sufficient compensation and refund over payment.
I have also contacted ptsb again after following the central bank and said that I was unhappy with the amount received in compensation and requested that I wanted the over payment paid back to me and not off my mortgage. The said they would get back to me shortly. I received a few letters saying they are still dealing with it and would come back to me again shortly. it’s been 6 weeks but still nothing yet. I called yesterday for any update and they said if I didn’t hear from them before the end of the year to call them back in the new year which is crazy.

My question is has anyone been in a similar situation! And  received a Cheque back for their  
Over Payment from ptsb. I have read similar threads here. Also has anyone received any extra compensation yet from their banks following the central banks investigation.

Thanks in advance.


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