# Danske Bank Closure



## fatcat

Just got a letter today from Danske Bank. Didn't thank me for 20 years Custom. They said they are closing My Credit Card pulling out of Ireland and they want the Balance owing By March. What are my options:?


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## MrEarl

Hello,

Are they proposing to continue to honour credit card transactions until the end of March 2014 ?

Also, are they offering any alternatives, in the event that you are unable to repay the balance in full before the end of March (I understand that some other former credit card providers who ceased providing such services, offered to convert balances to loan facilities repayable over various periods) ?

Alternatively, are they offering any incentives to encourage you to repay on or before March 2014 ?

Suffice to say, don't do anything in a rush, the good people at Danske Bank have had plenty of time to consider their options before settling on their strategy so we are equally entitled to take our time and consider what is best for us.


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## fatcat

*No offers*

No a curt enough letter, refers to their announcement of closure, simply announces that all balances must be cleared by the 7th March, but accounts can be closed before that date. It does give a contact number and lists most irish Banks, suggesting that they may be able to offer credit


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## Lightning

*Danske Bank customers have just two months to shut their accounts*

http://www.independent.ie/business/...ust-two-months-to-shut-accounts-29831290.html


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## potnoodler

Funny we  just got two new dansk contactless mastercards in post today , laser was valid for another year , these clowns just cant help themselves


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## Lightning

The domestic cleaning system, which is used by Laser, ends on 31 January 2014. Hence, the need for new cards, for a short period of time.


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## potnoodler

Figured it was something like that , we did joke over the contactless function


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## ollaetta

Got a new card myself yesterday.    Had to smile at the new expiry date of 02/16.


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## Gerry Canning

fatcat said:


> Just got a letter today from Danske Bank. Didn't thank me for 20 years Custom. They said they are closing My Credit Card pulling out of Ireland and they want the Balance owing By March. What are my options:?


...................................

Best option is to 
1. pay them off in total by March (if you can afford to) 
2. Move balance/card to another provider (on the same terms)
3. Write to Danske and say you will reduce outstanding by ??? per month.
4. In any event, get a card from another provider.

Simply, they want out asap , so thanks and goodbye!


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## Codogly

*Danske Bank*

Is it just me or do Danske Bank seem a little disorganised about this exit from Ireland ...?
They initially said in a statement on 31st October 2013 that they were pulling out and that it would be phased out between now and mid 2014.
Now customers are hearing talk of 2 months to close your accounts.
Note at this stage personally i haven't received any notification from Danske about whats happening with my accounts.
It all looks a little last minute ...


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## suemoo1

i got that card also this week ...valid until 2016.. anyone know whats happening with their overdrafts?? worried about paying this off when they pull the plug.


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## Gerry Canning

Suemoo1. 

Whilst overdrafts are supposed to be payable on demand , there will be leeway, or put balance on short term loan. 

I would suggest call to another Bank and see will they take your overdraft now, as it will be messy nearer the end.


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## michaelm

The Indo headline might be a bit misleading . . I think that one has two months to close accounts from date of letter, perhaps letters are to be sent out on a phased basis, I haven't got one yet anyhow.  

They are scrapping account fees and transaction charges from 1st January, I wonder if they will look to cancel account based mortgage rate discounts at that point also (example: .45% discount for Prestige accounts)?  Might they hike mortgage rates further in any event?  Those with new Danske mortgages in 2013 will lose their TRS if effectively forced, by high rates, to move mortgage to another lender.

Will businesses be queueing up to deal with a bank that has messed its retail customers about?


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## fatcat

*Danske Bank*

The are going to close bank accounts by March 7th If you have an overdraft they are looking for you to settle and close. There has been no mention of paying balances by installment


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## niceoneted

I know they are not closing mortgage accounts. I have a current account where my wages are paid ino and from where the mortgage payment comes out off. It was a stipulation when getting the mortgage that I open a current account with them and have my wages paid in. Will this such current account be closed does anyone know? In which case I assume I will have to make payments to my mortgage from a current account in a different bank.


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## twofor1

niceoneted said:


> Will this such current account be closed does anyone know? In which case I assume I will have to make payments to my mortgage from a current account in a different bank.


 
Looks like it,

I decided to jump before the rush, and am currently in the process of closing Danske accounts. Told the job to send pay elsewhere, cancelled direct debits, cleared the credit card, returned the cheque book and cut up all cards.

I then sent an email telling them to close the accounts and confirm that the remaining current account would no longer be liable for any fees or charges as it would now be used only to service my mortgage account. 

Danske phoned me and suggested the simplest solution would be to pay my mortgage from an external current account, if that was ok they would send a direct debit mandate for me to put in bank details and sign. I have since returned the completed mandate.

I had to put €30 on the credit card for duty which is charged in arrears before the MasterCard account can be closed.

Cheque book had to be posted to head office to get a refund of duty.


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## MrEarl

fatcat said:


> ....There has been no mention of paying balances by installment



Well, when the deadline has come and gone and they find hundreds, if not thousands of overdrafts not repaid in full, I think you'll find them only too willing to provide some form of loan / repayment arrangement.


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## suemoo1

Thanks people, well I know I wont be able to afford to clear the overdraft before March so we will see what they say.. havent got letter yet either.


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## twofor1

Anyone closing a Danske Credit Card account, make sure they send you a ‘’Letter of Closure’’

This letter confirms you have paid the Government Stamp Duty for the current chargeable period, 02/04/13 – 01/04/14.

Your new provider should not apply the €30.00 Government Duty until 02/04/15, if you produce this letter.


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## Woodville56

*Danske Credit Card gone from March 2014 - best Bank for new Credit Card?*

I also got the letter recently from Danske advising that they are closing banking services for their Credit Card holders in March'14.
I see from Bonkers.ie that AIB appear to have lowest APR (13.6%) but an APR of 9.11% on balance transfers. 
Any ideas or comments on best option for new Credit Card on the basis that I will have no carry over balance ?
Also, while allowing for the most advantageous terms applicable to various Credit Card products from the differennt banks, it a good idea/bad idea to have Credit Card with the same bank (Company)  as my other banking business (Current a/c, Mortgage etc , ) or is it better to spread the business around from a strategic perspective ?

Thanks !


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## Lightning

Woodville56 said:


> Any ideas or comments on best option for new Credit Card on the basis that I will have no carry over balance ?



Tesco Bank credit card due to the Tesco points that come with each purchase.


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## Bennie

I currently have a credit card maxed out to the tune of 5k with them.they have rung me 3times in december wanting to arrange a meeting with me to discuss a loan option for it.
i also had to send them in payslips by post.i havent yet met them as im stalling as im nowwhere near a branch to meet them..lady yesterday  rang said she was passing it on to someone else and il hear by the 30/31st if december from them.

(im not in arrears or anything,im up to date with them)


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## MrEarl

This is going to get quite interesting ....

People can't just produce money out of thin air, to repay overdrafts & hard core balances on their credit cards, so sooner or later Danske will have to admit they are prepared to retstructure unpaid balances into some form of loan arrangements. There is simply no other solution, if they want to be repaid although clearly they are initially saying nothing in the hopes most people will find a way to clear the money they owe.



CiaranT said:


> Tesco Bank credit card due to the Tesco points that come with each purchase.



Eh, thanks but no thanks, I'm still having the nightmares from a few years ago when I last had a card with them.... the points were excellent, but their service was not based on my experiences (and I'm a "good customer").


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## RainyDay

Woodville56 said:


> I also got the letter recently from Danske advising that they are closing banking services for their Credit Card holders in March'14.
> I see from Bonkers.ie that AIB appear to have lowest APR (13.6%) but an APR of 9.11% on balance transfers.
> Any ideas or comments on best option for new Credit Card on the basis that I will have no carry over balance ?





CiaranT said:


> Tesco Bank credit card due to the Tesco points that come with each purchase.


Tesco are offering 0% on balance transfers for six months, which is pretty good. They seem to be also offering 0% on new purchases for eight months, which is very, very good, unless I'm missing a catch.

AIB Platinum have 3.83% APR on balance transfers for 12 months, which is pretty good, and same on new purchases, which isn't bad. 

So the question for me is - will the cost of my balance transfer to Tesco for the 2nd six months at 14.9%, outweigh the savings on the 0% purchases for 8 months?


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## lff12

Out of interest, has anybody other than a standalone credit card holder actually received a letter?  Its now 23rd December, and nothing yet.  If they are indeed planning on shutting current account services on 1st March, they're leaving users with very little time to decide what to do.  2 months is not a long time in banking terms, given the Christmas closures.

Shockingly high fees from BOI/AIB too - stunned so many people choose to actually do their banking there?  I remember them as always being high, so this isn't really something new.


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## Buddyboy

I received an inital announcement letter, but nothing since.

I am trying to decide between switching my current and deposit accounts to either KBC or PTSB. I have yet to make a decision.  

I can stick to either sets of criteria to get free/cheap banking, but TSB might be easier as I can get salaries lodged there automatically (as opposed to ensuring that I have €2k always in the KBC account).  KBC has a better deposit rate, but it will cost €26 pa in fees for the current account.  

I won't be taking out either of their Visa cards, as my current card is with AIB, and I'm happy with it, and pay it by direct debit from the Danske current account.

I have seen good feedback on PTSBs on-line account (which is very important to me), but heard very little about KBC's.


Anybody any thoughts?


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## Lightning

Ensuring you have 2,000 EUR in your account each and every day effectively means you need to have a buffer above 2,000 EUR. Meaning you lose out on opportunity-cost interest on a circa 2,500 EUR sum. Plus it is a pain in the ass. 

With regard to KBC deposit rates being higher, I suspect that KBC will review their deposit rates in the near future. 

I think it is a no brainer to choose PTSB over KBC for a current account.


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## MrEarl

lff12 said:


> Out of interest, has anybody other than a standalone credit card holder actually received a letter?  Its now 23rd December, and nothing yet.  If they are indeed planning on shutting current account services on 1st March, they're leaving users with very little time to decide what to do.  2 months is not a long time in banking terms, given the Christmas closures.
> 
> Shockingly high fees from BOI/AIB too - stunned so many people choose to actually do their banking there?  I remember them as always being high, so this isn't really something new.



Hi,

Nothing in the post to date (thankfully - I think they have to give minimum written notice based on something I recently heard, so that may mean we're good until the end of March if I've heard right, fingers crossed).  I'm really sick they are closing, I genuinely was a fan of their service, internet banking in particular.

Agree regarding the fees from AIB & BOI, how ironic that when we had little more than just these two and UB I guess makes three, then everyone moaned about wanting competition - they we got competition (i.e. AnPost Bank, Danske, Halifax, ACC retail, PTSB etc) and not enough people move their business, so we lose most of the competitors and now we're all back stuck moaning about the costs again.  As a matter of principal, I won't be getting all my services from one provider & will secure the best individual deal for each product.


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## llgon

I have an offset mortgage with Danske along with current account and savings account.  I find the offset mortgage to be very useful to me with varying amounts of savings and do not want to lose it.  However it can only work if Danske continue to operate some kind of savings account for me.  I have not yet heard from them regarding their plans for this but savings accounts appear to have been ruled out.

I presume they have a contractual obligation to continue the mortgage on the agreed basis for its duration or transfer it to another bank who can. Maybe I'm wrong. I don't have a copy of my mortgage agreement and haven't consulted my solicitor.  I wonder if there are many in the same boat as me who want to maintain an offset mortgage.


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## Patricia23

I have my current account and credit card with them and have done all my banking with them for the past 20 years, will be sad to see them go. I received a letter just before Christmas outlining my "options" ie - clear, in full, my overdraft and credit card by april.  This isn't an option for me, I'm barely managing to cover my bills each month at max overdraft and credit card level.

I had a meeting with PTSB a few weeks ago, they are very keen to take on Danske customers and have "transfer buddies" who will arrange for all your direct debits to transfer over to PTSB seamlessly. The problem is that if I'm currently overdrawn I need to apply for an overdraft with PTSB. If I do this they won't approve me for an overdraft as I have a judgement registered against me (which didn't come up on a recent ICB search - not sure if that's normal).

I was hoping that Danske would have to convert my credit card debt and overdraft into a loan. I think they will have no choice with the credit card, but if they don't convert my overdraft into a loan then I'm completely stuck.  Does anyone know what, if any, rights I'd have on this or how I could solve it?

On a slightly different note I've also heard that you can set up a current account with the credit union with minimal, if any, charges. Is this true, or advisable???


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## Orbitman

I have an Offset mortgage with current account. Haven't heard anything from Danske bank yet. Had exactly the same thought as you and NIB made a big play of the offset facility when arranging the mortgage.  Looked up my mortgage agreement. At back of the agreement have a letter from NIB which states 'this side letter together with the attached Offset Mortgage Facility letter...constitutes your agreement with the bank...then goes on last paragraph headed 'Termination' ' we will ensure when removing an account from an offset portfolio ..that the account is not the last mortgage account or linked account causing an unwanted termination of the Offset Portfolio.'


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## MrEarl

Patricia23 said:


> I have my current account and credit card with them and have done all my banking with them for the past 20 years, will be sad to see them go. I received a letter just before Christmas outlining my "options" ie - clear, in full, my overdraft and credit card by april.  This isn't an option for me, I'm barely managing to cover my bills each month at max overdraft and credit card level.
> 
> I had a meeting with PTSB a few weeks ago, they are very keen to take on Danske customers and have "transfer buddies" who will arrange for all your direct debits to transfer over to PTSB seamlessly. The problem is that if I'm currently overdrawn I need to apply for an overdraft with PTSB. If I do this they won't approve me for an overdraft as I have a judgement registered against me (which didn't come up on a recent ICB search - not sure if that's normal).
> 
> I was hoping that Danske would have to convert my credit card debt and overdraft into a loan. I think they will have no choice with the credit card, but if they don't convert my overdraft into a loan then I'm completely stuck.  Does anyone know what, if any, rights I'd have on this or how I could solve it?
> 
> On a slightly different note I've also heard that you can set up a current account with the credit union with minimal, if any, charges. Is this true, or advisable???



Hello,

I think I've posted a comment similar to this before, but for what it's worth my own personal opinion is this is a "try on" by Danske to get as many people to repay before *their deadline* as they can - those who simply cannot repay will then have to be sorted out some other way and most likely via the overdraft / credit card balances being converted to term loans, I'd expect.  

Just remember the overdraft is most likely repayable on demand so a monthly salary could get offset against the hardcore overdraft debt outstanding on the overdraft, if it's the final day etc.

What have other banks done when closing down, or cancelling facilities in a similar way to whats happening at Danske with their credit card and overdraft limits ?


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## llgon

Orbitman said:


> I have an Offset mortgage with current account. Haven't heard anything from Danske bank yet. Had exactly the same thought as you and NIB made a big play of the offset facility when arranging the mortgage. Looked up my mortgage agreement. At back of the agreement have a letter from NIB which states 'this side letter together with the attached Offset Mortgage Facility letter...constitutes your agreement with the bank...then goes on last paragraph headed 'Termination' ' we will ensure when removing an account from an offset portfolio ..that the account is not the last mortgage account or linked account causing an unwanted termination of the Offset Portfolio.'


 

Thank you for that information, good to hear it but perhaps they may have a 'get out' clause elsewhere?  Time will tell.  Hard to see them being able to provide a savings account under their current plans unless they get another bank or An Post on board to do this.

When I took out my mortgage in 2005 the bank were indeed pushing it and selling it as an alternative to a low cost tracker.  Thankfully it has worked out ok for me since as I have some savings that I use to offset part of the mortgage.  As I said previously I would not like to loose this.  Danske are certainly in no rush to get in touch.


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## Patricia23

Thanks Mr Earl. At the moment my salary comes into one account, I transfer the amount required for all the direct debits into the current account (70% of salary) and then try to live on the rest. As you say the overdraft s payable on demand so my fear is that they will try to be smart and use my salary to clear off the overdraft, which will leave me with no money to pay my bills for that month. 

I'm afraid that if I go to them and ask them for a loan for the overdraft it will just prompt them to do this. 

On the other hand, maybe I could ask my employer now to move my salary to my ptsb account now, then they wouldn't be able to do this. It would mean I would have the hassle of reorganising all my direct debits myself instead of getting ptsb to do it for me (as they won't do it if I have an overdraft).

Anyone got any other suggestions?


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## Lightning

You are going to have to open a new current account sooner or later. Preferably, sooner. I see no reason to delay opening the PTSB account. Delaying the account opening is not going to get you an overdraft. 

You will be able to sort the direct debits yourself, just a little bit of hassle involved. 

Also, I would move your salary to PTSB asap as well. You are correct that Dankse Bank may engage in netting balances which banks sometimes do. 

I would think that Danske's threat to not organise loans for credit cards and for overdrafts is an empty threat. There is no chance that 100% of the credit cards and overdrafts will be repaid. Danske will have to offer something.


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## phoenix

CiaranT said:


> Ensuring you have 2,000 EUR in your account each and every day effectively means you need to have a buffer above 2,000 EUR. Meaning you lose out on opportunity-cost interest on a circa 2,500 EUR sum. Plus it is a pain in the ass.
> 
> With regard to KBC deposit rates being higher, I suspect that KBC will review their deposit rates in the near future.
> 
> I think it is a no brainer to choose PTSB over KBC for a current account.



Hi Ciaran

Based on the above, am I right in thinking the same logic applies to opening a current account with aib?  Because you have to keep your current account in credit by 2500 per quarter you have a lost opportunity to invest this money somewhere else?

I was thinking of aib as we have a branch in the town where I live so handy access also feedback on their website seems to br good.

Some feedback on PTSb customer service suggests it may not be very easy to open an account with them but that could be wrong.  Has anyone any recent experience of this?

Can you apply for a credit card anywhere or do you need to stick with the bank you have your main dealings with?

I have to move all accounts from danske by March (deposit accounts by February)
Thanks

Phoenix


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## Lightning

phoenix said:


> Based on the above, am I right in thinking the same logic applies to opening a current account with aib?  Because you have to keep your current account in credit by 2500 per quarter you have a lost opportunity to invest this money somewhere else?



Yes, same logic. 



phoenix said:


> I was thinking of aib as we have a branch in the town where I live so handy access also feedback on their website seems to br good.



I think the AIB website is badly in need for an overhaul. 



phoenix said:


> Some feedback on PTSb customer service suggests it may not be very easy to open an account with them but that could be wrong.  Has anyone any recent experience of this?



Most feedback on the switching process to PTSB has been positive. 



phoenix said:


> Can you apply for a credit card anywhere or do you need to stick with the bank you have your main dealings with?



Anywhere. Tesco Bank may be your best option for a credit card due to the Tesco points associated with it.


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## ang1170

phoenix said:


> Some feedback on PTSb customer service suggests it may not be very easy to open an account with them but that could be wrong. Has anyone any recent experience of this?


 
 I switched current accounts to PTSB from Danske a few months back, and then moved to them for a credit card within the last month.

 Both went reasonably smoothly. So far, I've found any interactions with PTSB to be helpful and efficient.

 I think the problems with opening accounts are more to do with very tight regulations to counter money laundering than the banks themselves: you'll be faced with having to provide the same information with whatever bank you move to.


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## michaelm

ang1170 said:


> I think the problems with opening accounts are more to do with very tight regulations to counter money laundering than the banks themselves: you'll be faced with having to provide the same information with whatever bank you move to.


Did PTSB ask for your PPSN?  I hope to open an account with PTSB this week but I do not intend to supply my PPSN . . I don't believe I have to [broken link removed]


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## Lightning

michaelm said:


> Did PTSB ask for your PPSN?  I hope to open an account with PTSB this week but I do not intend to supply my PPSN . . I don't believe I have to [broken link removed]



I would be interested to hear if you succeed in opening an account without a PPS number.


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## Brensky

Hello
I am a credit card customer only with Danske and got my letter before Xmas to have my balance cleared by March 8. My current account is with Permanent Tsb so today I went into see them about transferring balance to there 0% cc. Turns out because I am only employed part time no bank will consider me for a credit card. I cannot pay off the balance between now and March. Anyone have any suggestions re approaching Danske or any other options for a credit card on part time work.
Thanks


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## michaelm

CiaranT said:


> I would be interested to hear if you succeed in opening an account without a PPS number.


I expect that I will have to explain that they have met their legal obligations by simply seeking my PPSN but that there is no onus on them to actually get it, or for me to supply it . . also I expect that they won't be able to tell me what they want it for . . I expect that none of this will compute and that I will be given a Hobson's choice if I want to open an account.


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## michaelm

CiaranT said:


> I would be interested to hear if you succeed in opening an account without a PPS number.


That went better than expected . . an explanation on my part, a discussion with colleagues and a phone call later and it was no problem to open the account without a PPS number.


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## Lightning

sahd said:


> You should only need to provide a PPS number when opening an account that pays interest.



Makes sense given that the PPS number is used to track tax liability.


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## michaelm

sahd said:


> You should only need to provide a PPS number when opening an account that pays interest.





CiaranT said:


> Makes sense given that the PPS number is used to track tax liability.


I'm not sure about that either.  I don't imagine that the banks provide PPS numbers along with individual DIRT returns . . I'd imagine it's simply a composite figure of all DIRT . . in any event the account I opened pays 1% interest on up to €1500, yet they don't have my PPSN.


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## Codogly

PTSB told me to advise Danske of the switch because i have the Mortgage with Danske so i rang them ... guy told me the reason the haven't written to Current account holders with Mortgages yet is because they dont know yet what the advise the wish to give to such customers.
He did say that it was ok to proceed with the switch of current account.
Looks like they're not sure of their strategy with those Trackers yet.
Another ECB Rate cut might help get them focused.


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## Bonaparte

Codogly said:


> PTSB told me to advise Danske of the switch because i have the Mortgage with Danske so i rang them ... guy told me the reason the haven't written to Current account holders with Mortgages yet is because they dont know yet what the advise the wish to give to such customers.
> He did say that it was ok to proceed with the switch of current account.
> Looks like they're not sure of their strategy with those Trackers yet.
> Another ECB Rate cut might help get them focused.



This explains a lot. I too have a Mortgage and a number of other Accounts and have heard nothing yet. I have a memory somewhere in the back of my mind that the Tracker was dependent upon my wages going into NIB (as was). They'd never try to pull a stunt on this and take away the trackers. You never know!!


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## Gerry Canning

Bonaparte; 

Danske are (giving) some business customers funds to cover business cost of moving to a more expensive provider. In short , running from most Ire business.

The Tracker issue to resolve to a straight repayment mortgage to another provider would be very expensive .
a. Buying out a tracker b.Paying legal fees.

Anyone with a Tracker should JUST KEEP it !


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## Bennie

Well i owe 5775 on 2credit cards with them,one mine one wifes both operating from joint ac.i owe €500 in an overdraft and i owe €122k on my mortgage with them.

They told me before xmas that someone will ring me to 'meet up' with me to discuss puting credit cards only into loans not overdraft.i told them meeting up wasnt an option as im very far away from their dublin branch and i work 12 hour night shift.i said all my correspondense can be done through phone/ post.i havnt heard back yet,im sure i will soon.
I opened a boi account few weeks back to get wages paid into starting tomarrow just in case danske try to 'pay on demand' my overdraft out of my acccount and leave me with no wages to live on.


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## Bonaparte

Gerry Canning said:


> Bonaparte;
> 
> Danske are (giving) some business customers funds to cover business cost of moving to a more expensive provider. In short , running from most Ire business.
> 
> The Tracker issue to resolve to a straight repayment mortgage to another provider would be very expensive .
> a. Buying out a tracker b.Paying legal fees.
> 
> Anyone with a Tracker should JUST KEEP it !



My fear is that it was a condition of the tracker that we held a NIB Current Account which we obviously can't do after March. There is a reference to this anomaly in the Irish Independent this morning. Frankly I wouldn't be surprised at what stunt Danske would try to pull. 

I have suggested on this Forum before that perhaps we should all just stop paying our Mortgage for a period and see what they do then. I would suggest that cutting off the flow of repayments completely would awaken the profit hungry Bankers in Denmark!!


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## michaelm

Bonaparte said:


> I have suggested on this Forum before that perhaps we should all just stop paying our Mortgage for a period and see what they do then. I would suggest that cutting off the flow of repayments completely would awaken the profit hungry Bankers in Denmark!!


If I were a 'profit hungry banker' and you stopped paying your mortgage I'd repossess your house.


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## Bonaparte

repossession of ALL houses would be a messy and expensive exercise


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## Codogly

With all due respect Bonapart ... Danske trying to remove trackers from Customers because the no longer have a Danske Current Account when they are the ones withdrawing Current Accounts from the Irish Market wouldn't hold up in court.

That would be similar to Danske claiming that the Tracker Mortgages were taken out in the name of National Irish Bank and now that we've changed the name to Danske Bank you all loose your Tracker Rates.

If you are servicing your Mortgage Loan and not falling behind on repayments then sit tight and let Danske worry about the losses they are making on your mortgage.


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## RainyDay

I was surprised to hear Danske sponsoring the high-profile (and presumably high-cost) Drivetime show on RTE Radio 1. They are pushing their services for business customers through a consumer medium. It's hard to understand how this is a cost-effective way to advertise to business customers.


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## daheff

RainyDay said:


> I was surprised to hear Danske sponsoring the high-profile (and presumably high-cost) Drivetime show on RTE Radio 1. They are pushing their services for business customers through a consumer medium. It's hard to understand how this is a cost-effective way to advertise to business customers.


 

They were also advertising on Newstalk breakfast. Blustering about being a full SEPA service.

From my dealings with them in work they are not. Accounts held in Germany cannot offer SEPA services....you have to open other ones in Denmark/Ireland.

The more I hear from these guys the more of a crowd of chancers I find them to be.


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## potnoodler

Can't imagine what future they have here dependent on commercial customers,
How can anyone trust them with their record


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## MrEarl

Bonaparte said:


> My fear is that it was a condition of the tracker that we held a NIB Current Account which we obviously can't do after March. There is a reference to this anomaly in the Irish Independent this morning. Frankly I wouldn't be surprised at what stunt Danske would try to pull.
> 
> I have suggested on this Forum before that perhaps we should all just stop paying our Mortgage for a period and see what they do then. I would suggest that cutting off the flow of repayments completely would awaken the profit hungry Bankers in Denmark!!




What exactly is driving your concern about losing your tracker rate (or a discount on your lending rate etc), is it purely speculation or do you have something in writting from Danske Bank telling you that you will lose it, once your Danske current account is closed ?

Assuming you don't have a specific documented response from Danske to the question (about what happens post closure of their current accounts), then I suggest you write to them asking them exactly what they propose for you, given the circumstances 

I honestly think you are worrying here without good reason and agree with the comment above from Codogly that given Danske are withdrawning their current accounts, an attempt to remove the current arrangements would not hold up in court (in my personal opinion).


----------



## DrMoriarty

This (rather long) thread from early 2012 describes how Danske tried to force customers with fee-free current accounts (opened as a requirement of their tracker mortgage) to switch to fee-paying current account packages when Danske withdrew their Freebank product in Dec. 2011, and why they weren't legally able to make this stick (see particularly the references linked to in this post).

If (as mine did) your loan documentation contains a stipulation about having to keep a current account with them for the life of the loan, or lose your tracker rate, then I'd suggest you write to them referencing this condition and requesting written confirmation that it is no longer applicable. Ask them to specify whether they want you to keep a fee-free servicing or "facility" account with them — unlikely — or whether you should set up a new DD from another account. Don't accept verbal assurances or emails from customer service agents; insist on a signed letter from their lending department.

When I did this they resisted all the way, until I lodged a formal complaint and indicated that my next step would be to refer it to the Ombudsman (and then to legal representation, if necessary). I received no acknowledgement or apology for the waste of my time or the extremely high-handed tone of their letters, but they backed down. 

Do _not _under any circumstances simply "stop paying [your] mortgage"; to do so would be to hand them the perfect justification for deeming you to be in breach of the conditions of your loan and therefore liable to forfeit your tracker rate.


----------



## Bonaparte

*KBC or PTSB*

Still haven't received the letter telling me to get lost but have started to check out where to go. I had a meeting with a Gentleman at PTSB this morning and he seems to be able to offer me everything I need with no fees once my wages are transferred every month. I guess it's a bit like things were in the old NIB days.

I am planning on having the same meeting with KBC next week. 

If they offer the same package which is the better option? Has anyone else made the jump to either?


----------



## car

Bonaparte said:


> Still haven't received the letter telling me to get lost but have started to check out where to go. I had a meeting with a Gentleman at PTSB this morning and he seems to be able to offer me everything I need with no fees once my wages are transferred every month. I guess it's a bit like things were in the old NIB days.
> 
> I am planning on having the same meeting with KBC next week.
> 
> If they offer the same package which is the better option? Has anyone else made the jump to either?



Nope, still with them, offset mortgage, interest only mortgage and shares.  Rang last week 
Any more info for me?
Nothing.  we'll be writing as soon as we decide what we're going to do.

Whatever about the tracker and only getting the interest rate, my offset mortgage is based on my account being with them and the balance offsetting the calculation interest.    They obviously haven't figured that one yet.  

I'll wait until they send the letter.

Force their hand rather than them forcing mine.

Moving the shares is another matter though.  Anyone any thoughts on how I go about that?


----------



## mundogas

Bonaparte said:


> Still haven't received the letter telling me to get lost but have started to check out where to go. I had a meeting with a Gentleman at PTSB this morning and he seems to be able to offer me everything I need with no fees once my wages are transferred every month. I guess it's a bit like things were in the old NIB days.
> 
> I am planning on having the same meeting with KBC next week.
> 
> If they offer the same package which is the better option? Has anyone else made the jump to either?



 I am in the middle of switching to PTSB, no problems with them so far. Considered KBC also but as far as I can see they have quarterly charges on the current account. Also a charge of 30c for each ATM withdrawals if min balance of 2000 euro is not maintained. They have some hubs if you do have to visit a branch but only a 5 or so for the whole country

 PTSB still have branches if you do need to visit one and no fees if lodging 1500 euro each months so seems to be the obvious choice. 

 Also hoping to get some sort of notice from Danske soon, keeping wages going to old current account presently to service tracker but everything else has been switched to PTSB.


----------



## MrEarl

Hello,

I have received nothing in writting from Danske regarding their intention to close my accounts and I won't be taking the first step by contacting them to discuss the matter.  

When the time comes I will be very slow to move (other than taking the obvious steps to protect my own interests). Their deadlines to close all accounts or requests to clear credit card balances will mean little to me.  

While it looks like PTSB is the most likely choice for me when the time does come to move, I am somewhat concerned by (i) the fact that I don't think Europe has approved the PTSB business plan for their future as yet & (ii) a bad past experience a family member had with them, which resulted in that family member taking all of their business from the Permo.  

KBC also appeals to me in terms of trying to help ensure there is competition in the market, but only if the price is right and they produce the full range of financial services that I require - which at the moment they cannot do, but apparently they are launching further cards and services early in 2014, so things may change.

Good online banking (via PC, Android Phone & Tablet) is vital and given I am currently comparing everything to Danske's online offerings, I'm struggling to find a good alternative.


----------



## serotoninsid

MrEarl said:


> Good online banking (via PC, Android Phone & Tablet) is vital and given I am currently comparing everything to Danske's online offerings, I'm struggling to find a good alternative.



Current Account Options
Currently with UB for current account.  I plan on switching to PTSB (in the absence of a better option) for 4 reasons;
1. They have started to charge for current account.  I've started to maintain 3k balance but like CiaranT says, you have to also have a buffer.  It's very frustrating -as I've already briefly breached this 3k balance due to bills.
2. Last years shenanigans (with their I.T. problems) - followed up with their recent similar shenanigans.  Although I was lucky - and was never stuck, I could have been (if I was overseas, etc).
3. Their debit cards.  Whatever idiot is working in purchasing - their plastic cards are ridiculous!  I have now broken 3 of them in a matter of weeks. Granted, I keep it in a wallet in my back pocket and so, it will bend a bit - but nothing like previous cards from UB or previous banks!
4. When the above happens - and I order up a replacement, they change my visa debit card number each time!  Rather than direct debits, I have fixed visa payments going out. It messes up all of these - and I have to spend time contacting all those companies to get them to update my details again.  In the past, other banks would simply issue a new physical card with the same visa debit number.


Danske Offset Mortgages
Until this shutdown of their retail banking, I was never aware of their offset mortgage product.  This is something that would have made so much sense for me.  I know it's immaterial now - but what sort of rates did they offer those mortgages at?  Presumably not the same as tracker?

Is there anyone else on the irish market currently offering an offset mortgage?


What is the future for Danske Trackers?
Apologies in advance, but that perennial question....
What's the likely outcome for Trackers?
I know we are speculating here - but what do folks here think is likely from the following possibilities;
1. They simply maintain the tracker mortgage book - taking incoming payments from our current accounts with other banks
2. They offer a discount for the complete payment in full of a tracker mortgage (of course, this is only going to be an option for a small percentage of customers...which might of and in itself, mean they decide not to bother with this option
3. They offer a discount on the basis that tracker holders simply switch their complete mortgage to another bank or to another product
4. They contract another company (a la Certus) to manage and run down their mortgage book.....with that company possibly offering deals as per 2 and 3 above.
5. They sell their irish mortgage book in its entirety - with the new entity possibly offering deals as per 2 and 3 above?


----------



## twofor1

serotoninsid said:


> What's the likely outcome for Trackers?



Danske are maintaining a presence here for business customers.

Danske continue to operate up north for both business and personal customers. A lot of administration of southern accounts is already done up north.

Given that they have two options in place for collecting payments, either of which would probably be a lot more cost effective than discounting, contracting or selling, I think the first of your possibilities is the most likely.


----------



## mundogas

Have a Danske Tracker myself, I would also think that they will maintain the mortgage book. 

On another note has anybody got a custody account with Danske for share trading? Happy enough with changing all other banking services over to a different provider, but not sure what to do or where to go with this. Davy is my first thought.


----------



## mozzer

*Credit Card interest*

Folks,

Just as a matter of interest, for those of you that have been given notice that your NIB credit cards are being withdrawn, have you enquired are they going to stop charging interest on the remaining balance?

It seems fair and reasonable that where they withdraw the credit card product, we shouldn't have to pay further interest on the balance.


----------



## MrEarl

mozzer said:


> ....It seems fair and reasonable that where they withdraw the credit card product, we shouldn't have to pay further interest on the balance.



Good luck trying to explain that to Danske, or any other bank for that matter - I must admit, I'm struggling with the logic there myself and I'm one of their customers who would like to have a zero rate on whatever balance remains


----------



## Codogly

Its definately option 1 for me cant see Danske giving discounts or taking a hit in a mortgage book sale ...they will just unwind the loan book over its natural lifespan.

Does anyone know what happens with the payment of Mortgage Interest Relief that used to be paid into our Danske Current Accounts ...will Danske simply pay this into our new banks current accounts...?

Codogly


----------



## car

mozzer said:


> Folks,
> 
> Just as a matter of interest, for those of you that have been given notice that your NIB credit cards are being withdrawn, have you enquired are they going to stop charging interest on the remaining balance?
> 
> It seems fair and reasonable that where they withdraw the credit card product, we shouldn't have to pay further interest on the balance.



Be surprised if they dont do what  MBNA did and halifax did when they left,  either someone else will take it on or theyll convert the existing balance at date X into a loan at rate Y to be paid back by you.  the account will exist until the loan is paid off.  
It makes more financial sense to move to a 0% bal transfer cc like tesco.

I have the offset mortgage and recently noticed the addition of a kind of a dummy offset account when I logon to my online banking.  Maybe Im wrong but I cant remember seeing that there before.  Im guessing they might hold onto the offset mortgage and use that account as the offset account how theyre going to regulate that I dont know.  only a guess though


----------



## llgon

Interesting to hear about the dummy account on your internet banking, Car. I only use the mobile banking app myself and it has not appeared on that. I will be delighted if I can continue with an offset mortgage but like you find it difficult to see how they will work it.



serotoninsid said:


> Danske Offset Mortgages
> Until this shutdown of their retail banking, I was never aware of their offset mortgage product. This is something that would have made so much sense for me. I know it's immaterial now - but what sort of rates did they offer those mortgages at? Presumably not the same as tracker?
> 
> Is there anyone else on the irish market currently offering an offset mortgage?


 
I am currently paying 4.6% interest on my offset mortgage, I think Danske's SVR is 4.95%. I don't have a Prestige current account which would give me a discount. I'm not aware of anyone else providing this product in Ireland.


----------



## car

llgon said:


> Interesting to hear about the dummy account on your internet banking, Car. I only use the mobile banking app myself and it has not appeared on that. I will be delighted if I can continue with an offset mortgage but like you find it difficult to see how they will work it.
> 
> 
> 
> I am currently paying 4.6% interest on my offset mortgage, I think Danske's SVR is 4.95%. I don't have a Prestige current account which would give me a discount. I'm not aware of anyone else providing this product in Ireland.



that prestige account was a no-brainer.    120e a year for all fees and I got a discount off my mortgage which resulted in 70e less off my monthly payments.  = 840 per annum.  think it brought me down to something like 4.1%

theyre not doing it any more now though since the announcement theyre pulling out.   

Again, that discount is applying only complicates thing for any move, if they say some other providor is taking over, will I keep any discounts?   

I rang again yesterday and still no news of what theyre going to do.  like others, Im waiting til they force my hand, not in my interest (pun half intended) to do anything.


----------



## MrEarl

car said:


> that prestige account was a no-brainer.....



Hi,

Was the reference to the discount for having a prestige account exclusively in the documentation for the current acount or also in the mortgage document ?  ... if the later, I expect you have a strong hand to bargain with.

I have a tracker (thankfully) so the discounted rate offer was never available to me with the prestige account.


----------



## car

MrEarl said:


> Hi,
> 
> Was the reference to the discount for having a prestige account exclusively in the documentation for the current acount or also in the mortgage document ?  ... if the later, I expect you have a strong hand to bargain with.
> 
> I have a tracker (thankfully) so the discounted rate offer was never available to me with the prestige account.



I had to sign a load of forms to get the discount, including sending in bank statements (which were not from danske) and copies of passport to identify myself even though I was with them already, most illogical thing Ive ever had to do with a financial institution.    
I must follow up with them on that, as to get the prestige discount i have to pay my salary into a current account with them.  If theyre not going to have current accounts, then where does that leave us?   If they just pull out altogether then I wont benefit from the discount OR the offset as I'll nowhere to put the money for them to offset against.


----------



## Codogly

Still no official word from Danske Bank re what is happening with Mortgages.
Has anyone received notice from them on Mortgages - what happening with statements going forward - what happening with Mortgage Interest Relief going forward.???
Thanks for any updates.


----------



## Bonaparte

Hi Codology, I had a call from Danske this morning wanting me to confirm an unusual deposit which thankfully was in order. I asked the caller what the position was as I still haven't received any communication about anything. He explained that they are progressing through customers at present and that the next traunch of "get lost letters" (my term, not his) are due to go out at the end of the month. He said nothing will change with mortgages, however, as I'm not in receipt of interest relief, I didn't ask.


----------



## car

I rang earlier this morning, the mortgages dont look as though theyre going to change or rather the official word is theres no change foreseen as of yet.  How theyre going to do this with current account offsets is still beyond me.

On custody accounts, for anyone that has one, letters are going out 4-6 weeks from now,  looks like some other stockbroker has expressed interest in taking on the accounts so you can either go with this "preffered" broker that will have similar conditions or switch to someone else yourself.  June is the suggested deadline.


----------



## lff12

Can anybody recommend a lender for those of us "transiently" employed?

I'm an IT contractor (i.e. forcibly self employed) and earn really good money but so far the door has been shut in my face for even a basic credit card (which frankly, is all I need - not even a balance transfer, I'm cleared in full).

I'd really rather not go "round the houses" and clog up my credit record with failures.  So far I've been turned down by Tesco Visa.  I have a 5 figure sum of savings I'd like to find a home for as well as current account but I'd rather not gift it to any institution that is going to refuse me a full service.


----------



## apollo11

*Danske Bank 'news'*

I hear on the news this morning that I have one business day to sort out my accounts with Danske Bank and that I am one of 10,000 customers who have yet to move their accounts. 

From reading this thread, I know others have got letters, but I have yet to receive any correspondence via any method advising me what my options are or giving me a 'hard stop' date; this despite asking them on at least two occasions what the situation was.  On both occasions I got a standard reply of blah blah blah writing to customers in the coming weeks to explain next steps .... you will get at least 2 months notice before any products or services are withdrawn.  Still waiting.

I mean, you'd want to have been living under a rock not to have heard that they were pulling out, but a precise date would certainly have focussed me [and perhaps the other 9,999 customers].  What do I do with my fixed term deposit account for example?

I'll have to leave work early today to get this sorted out.  I get paid weekly, so I'm going to have to sort it quickly. 

Thanks Danske.


----------



## Kimmagegirl

I have a credit card with them that actually might have a small credit balance. I have received the letters but no statement so I don't know my balance nor what happens with a credit balance. I have tried ringing them but I am left on hold every time.


----------



## trigger

I head that "news" as well apollo11. Sounds like someone in a newsdesk somewhere put 2 +2 together and came up with 5. There's still thousands of us who've heard nothing from Danske about when we need to move on. I very much doubt they're going to close up shop over one weekend.


----------



## michaelm

I've heard nothing from Danske but I suspect that's because I have a mortgage with them and they have yet to work out what to do with such customers.  Not much of a story in the Indo, effectively Danske are to close accounts that they flagged that they were going to close.


----------



## Slim

Got the letters yesterday. Two current accounts and two savings accounts, closure date 25th April, 2014.


----------



## greengal

I have my current account and mortgage with Danske Bank.  I just rang them and they said that they will write to me giving two months notice before my account is closed.  
The accounts that will be closed on Monday (as reported on the news this morning) are only those that received notice in writing already.


----------



## apollo11

*Danske Bank 'news'*

Thanks folks for this.  At least I'm getting information from someone!  Mine would be one of the less simple ones also, as I have the mortgage with them also.

I've started the process to move what I can now in any case, so I might as well keep going .


----------



## emeralds

We got our deposit account funds transferred yesterday.


----------



## Protocol

These newspaper articles aren't helping.

I'm being told by colleagues to take action today, must move my funds, etc.


When the reality is that it's only a/c that have been notified in advance that are closing??

Nothing on www.danskebank.ie clarifies these media reports.

This will lead to confusion.

I had 5 accounts. I have not received any specific letter with specific dates. I have closed two accounts myself.


----------



## cml387

Mostly the confusion was caused by Newstalk quoting the Independent.
Reading the article in the Inedpendent starting at the end, it turns out that the accounts being closed today are those who had only one account.

Me and others who had two accounts (current and deposit) have been given a date of 21st of Feb.

People with more complicated arrangements have been given other dates and some haven't yet received a letter.


----------



## Yakuza

The only thing I got from them in the last month was a letter confirming my TRS and also a summary of my custody account (which consists of a few thousand Anglo/IBRC shares worth approximately zilch).


----------



## fatcat

*Credit Card repay over two years*

I just got word from Danske that they want my Credit Card Balance Paid on the termination date, however if I am in financial difficulties they will take it over 24 months. I would find it very difficult to repay over 24 months. If Danske Bank customers around the world gave them 3 months notice and withdrew their funds there wouldn't be much left of Danske Bank


----------



## Bennie

Farcat..what did the say theyd do if you dont pay it off within 24 months? If they offer me that il have to reject..were done to 1 wage in house and owe a fair bit on card..on my calculations inclu interest itl take me 5 years to pay off and even that be tight !


----------



## fatcat

They would send in the Debt collectors. I also resent the implication of financial difficulties. We are just about holding things together we have had about 30% Pay cuts. I would be happy enough to cough up over 48 months I always pay what I owe but this is really ruthless, The paperwork from them is curt enough as well. You would expect them to at least thank their customers for their business before demanding and threatening


----------



## ronnach

Hi, I'm in the fortunate position of being able to keep a €3000 buffer in the Current Account. With Danske for the last 25 years and happy with them, very good online service.
I have to go though, so would appreciate recommendations for my situation, cheapest as regards fees, and this would include sterling cash withdrawals.

Thanks.


----------



## margaret1

ronnach said:


> Hi, I'm in the fortunate position of being able to keep a €3000 buffer in the Current Account. With Danske for the last 25 years and happy with them, very good online service.
> I have to go though, so would appreciate recommendations for my situation, cheapest as regards fees, and this would include sterling cash withdrawals.
> 
> Thanks.



This website compares the options.
http://www.bonkers.ie/compare-current-accounts/

The one problem with PTSB is that estatements are the only option they have available on the c/a.


----------



## Lightning

ronnach said:


> Hi, I'm in the fortunate position of being able to keep a €3000 buffer in the Current Account. With Danske for the last 25 years and happy with them, very good online service.
> I have to go though, so would appreciate recommendations for my situation, cheapest as regards fees, and this would include sterling cash withdrawals.
> 
> Thanks.



PTSB charge no fees if you deposit at least 1,500 EUR per month. 

All banks have similar fee structures for non-EUR cash withdrawals.


----------



## RainyDay

margaret1 said:


> The one problem with PTSB is that estatements are the only option they have available on the c/a.



Which may cause problems if you are trying to switch again. I'm going through the AIB credit card application process at the moment, and they say they will NOT accept Internet printouts. They insist on getting copies of original bank statements.


----------



## DingDing

They declined a payment to eflow twice.

Checked and apparently eflow are not SEPA compliant and Danske aren't processing the payment.

I still have not got the letter.


----------



## Juno

I am wondering if anyone else has experienced a similar problem with their Danske account in recent weeks? Also does anyone have advice how to go about resolving this issue.

My husband and I were due to get our state pensions paid into our Danske account on 31st January, however the payment did not appear (never a problem before). We were in the process of setting up a new PTSB account but this was not active at the time.
The Dept. of Social Welfare claim they made the payment to the Danske account, however Danske claim they did not receive the money! This still has not been resolved now more than 2 weeks later. We are currently writing to both to get these statements in writing from them as up to now all our contact has been by phone.
Our Danske account is not due to close until the end of April as per their letter so the account is still active. While subsequent payments have been paid to the PTSB acount, the missing payment did not go there, nor was that account active on the 31st January and Dept Social Welfare have confirmed they paid into the Dankse account.

Any advice on how to get this resolved quickly would be much appreciated!

Thanks,

Juno.


----------



## car

Juno said:


> I am wondering if anyone else has experienced a similar problem with their Danske account in recent weeks? Also does anyone have advice how to go about resolving this issue.
> 
> My husband and I were due to get our state pensions paid into our Danske account on 31st January, however the payment did not appear (never a problem before). We were in the process of setting up a new PTSB account but this was not active at the time.
> The Dept. of Social Welfare claim they made the payment to the Danske account, however Danske claim they did not receive the money! This still has not been resolved now more than 2 weeks later. We are currently writing to both to get these statements in writing from them as up to now all our contact has been by phone.
> Our Danske account is not due to close until the end of April as per their letter so the account is still active. While subsequent payments have been paid to the PTSB acount, the missing payment did not go there, nor was that account active on the 31st January and Dept Social Welfare have confirmed they paid into the Dankse account.
> 
> Any advice on how to get this resolved quickly would be much appreciated!
> 
> Thanks,
> 
> Juno.



It would have gone to an account, get that account from DSW in writing.   sometimes it can sit in a pending status for some reason, Ive had similar with nib, but for no more then 2-3 days.   After a couple of weeks, Id be screaming at them.


----------



## car

The mortgage account holders are going to get a letter in the next 7 days.


----------



## blendedblue

car said:


> The mortgage account holders are going to get a letter in the next 7 days.


How do you know this?
Do you have any further information on what is happening with the mortgages etc.?


----------



## car

blendedblue said:


> How do you know this?
> Do you have any further information on what is happening with the mortgages etc.?



I ring them weekly for updates as I've got 2 mortgages with them,  they told me 2 days ago that the letters are going out over next week.  no other info other than that.


----------



## DTriggs

Is it widely known that Danske Bank is also closing business accounts for non-corporate customers? I've been keeping up-to-date and reading the announcements on the Danske Bank website, but this got past me completely. It's been confirmed to me by two staff members from Danske Bank today.


----------



## lff12

DTriggs said:


> Is it widely known that Danske Bank is also closing business accounts for non-corporate customers? I've been keeping up-to-date and reading the announcements on the Danske Bank website, but this got past me completely. It's been confirmed to me by two staff members from Danske Bank today.


 
Its been hidden in the small print, or ignored by a seemingly ignorant and apathetic media/public focused entirely on their own situations.  The impact of so many people being forced to change bank from a cheaper option to a more expensive option is one issue, another is the scale of credit loss as many people will be unable to get credit at other institutions at all, never mind at the same levels.  This surely has a real impact, yet nobody is taking any notice.


----------



## twofor1

I Have closed all my Danske accounts except my mortgage, I have not yet received any letter regarding my mortgage.

This is on the Danske website today, don’t know when it got there;

*Mortgages *

There is no change to your mortgage arrangement. The outstanding amounts will continue to be repaid within the existing agreed terms and conditions. We are writing directly to all customers in the coming weeks to confirm this position.

http://www.danskebank.ie/en-ie/Pages/danske-announcement.aspx


----------



## DTriggs

What the small print says is 'there is no need for you to take any action today. We will write to you in the coming weeks to clarify the position regarding your facilities with us.' When you call the business customer care line, however, they say that your business account is fine, because that's all the information they have. When I mentioned the closure of business accounts to the customer care agent, she knew nothing about it. It was only when I spoke to an agent from another section and went higher up the food chain that I got the full facts.


----------



## ronnach

Thanks margaret and ciaranT. Attracted by KBC current account that sweeps any excess into a savings account. Interest on this could be offset against charges.


----------



## SemperFi

My offset stopped working 2 months ago and they cannot seem to fix it.

Just received my termination letters today and it includes the offset accounts.

So - they clearly haven't thought it out. 

If I cannot offset my mortgage (I traded in my tracker to get the offset product) there we shall be having stong words !

Contract:

TERMINATION

"We will ensure when removing an account from an offset portfolio that validation will take place to ensure that the account is not the last mortgage account of linked account causing an UNWANTED termination off the offset portfolio."

My actual contract mentions little else about it. 

Edit : Reread today's letter, they are trying to say they will charge 1% less interest than currently in return for having NO offset accounts - think solicitor is next stop.


----------



## yop

SemperFi said:


> My offset stopped working 2 months ago and they cannot seem to fix it.
> 
> Just received my termination letters today and it includes the offset accounts.
> 
> So - they clearly haven't thought it out.
> 
> If I cannot offset my mortgage (I traded in my tracker to get the offset product) there we shall be having stong words !
> 
> Contract:
> 
> TERMINATION
> 
> "We will ensure when removing an account from an offset portfolio that validation will take place to ensure that the account is not the last mortgage account of linked account causing an UNWANTED termination off the offset portfolio."
> 
> My actual contract mentions little else about it.
> 
> Edit : Reread today's letter, they are trying to say they will charge 1% less interest than currently in return for having NO offset accounts - think solicitor is next stop.



Read the same thing on another site, thats BS to be honest, the offset to my own situation is work multiples of 1% over the term of the loan.
I have already had legal advice over the phone and my solicitor is saying they are breaching the contract as the accounts are part of the contract and/or package.


----------



## SemperFi

Cheers for that. Since they closed the banks here their staff don't seem to have a clue as to the handling of the Irish operation.  I have 50% of the mortgage offsetted so will cost me a fortune if they axe it.


----------



## yop

SemperFi said:


> Cheers for that. Since they closed the banks here their staff don't seem to have a clue as to the handling of the Irish operation.  I have 50% of the mortgage offsetted so will cost me a fortune if they axe it.



Going to link this thread to the boards thread.

Facebook page to see how many people we can group. 

I think we all need to contact the ombudsman to see what they are willing to do on this.


----------



## SemperFi

Hard to see how trackers are protected but not offsets, surely its the same thing really.


----------



## yop

Letter came at home, that they are closing our 3 accounts, 
1 is my wifes, the other is mine and the 3rd is the one which services the mortgage.
They said that the mortgage product will remain and it states the account.

ZERO mention of Offset and/or a reduction in interest rate.


----------



## SemperFi

One of the letters should have a "offset mortgage" paragraph printed on the back of the letter.
You might get a second set of letters tomorrow.


----------



## Bonaparte

These guys are getting better. I noticed a "stamp duty on cheques" charge on my account and yesterday I got the "get lost" package in one envelope and, wait for it, a lovely new cheque book in another. I wonder what they think I'm going to do with all these cheques, I use about three a year!!


----------



## yop

Nothing on my letter at all about offset, back nor front. 

I see that myself, they are nailing on all the charges now and then telling us to take a hike.


----------



## jmcc99_98

Has anybody had any contact from Danske on outstanding Credit cards with them? 

I am sorry if this has been asked before but I cant find it from looking back over the previous pages


----------



## jmcc99_98

jmcc99_98 said:


> Has anybody had any contact from Danske on outstanding Credit cards with them?
> 
> I am sorry if this has been asked before but I cant find it from looking back over the previous pages



Sorry I was blind! I have seen the few posts about the credit cards.

Has anyone had confirmation that if you pay the balances off over two years that these will be "Bad marks" on your credit history? 

Is there no way that Danske could just transfer the balances to a personal loan arrangement and let you pay them over 2 years.

Has anyone had legal advice or similar on this matter - it seems terribly terribly unfair to get landed with a bad credit rating essentially on the decision of Danske to move, and your inability to pay something off immediately which you have serviced up until now, paid high interest on and also genuinely believed you could pay off over a longer period


----------



## llgon

I am just after getting my letter re closure of current snd savings account and effectively removal of offset part of offset mortgage. Like others not very happy and interest rate decrease of 1% not nearly good enough. I am interested in the idea of a group to get together to oppose it. 

My plan for the moment is to write to the bank myself this week and tell them that I do not accept their offer.  If I get no joy I will not withdraw my savings and see how the bank reacts.  I would assume that Danske will not want 'good' mortgages going into arrears as a result of their actions which is a definite possibility if they continue to be unreasonable.

The other thing I have noted is that two months notice has been given for closure of savings accounts but three months for my current account.  Is the additional month to give Danske more time to handle the closure of accounts? Or is it to see if savings will be withdrawn when savings accounts are being closed, and then giving an extra month for them to sort out 'problem' accounts before the operation closes? I know savings can be transferred to current accounts but it gives them an opportunity to test the water before final closure.


----------



## POC

I have 2 current accounts with them. The one we pay our offset mortgage from will be closed in 3 months. The other one closes in 2 months at the same time as our savings accounts.


----------



## llgon

Some offset mortgage customers with low savings are likely to be happy with today's letter, given the 1% discount on the interest rate.  However I would advise to bear two things in mind before conceding the offset element of your mortgage.  While you may not have significant savings at present, in the future this will hopefully change and you may regret loss of the offset element then.  Secondly, there is no guarantee that from May, Danske or anybody who may buy the mortgage book, will not raise the interest rate again.  

While you might be currently agreeable to the changes it may be worth asking Danske for either a favourable fixed rate for a number of years or alternatively a tracker mortgage linked to the ECB rate for the duration of the mortgage - I think 2% above would be a fair point to start negotiations.

It seems to me that offset mortgage holders are in a good position to negotiate - I have not read anything that would lead me to think otherwise.  However if customers co-operate with Danske's instructions now they will be left in a much weaker position if they change their mind in the future.


----------



## SemperFi

I have officially complained to Danske. They have 40 days from now to respond. I am asking myself why they felt they could close the accounts that form part of the mortgage but not the mortgage account itself. Its like saying you can have a piggy bank but welding the slot closed.


----------



## RainyDay

Bennie said:


> Farcat..what did the say theyd do if you dont pay it off within 24 months? If they offer me that il have to reject..were done to 1 wage in house and owe a fair bit on card..on my calculations inclu interest itl take me 5 years to pay off and even that be tight !



They say; "If you do not adhere to the repayment terms i.e. in the event you pay less than the fixed monthly payment or miss a payment, Danske Bank may enforce our rights to pursue the entire outstanding balance through our debt collections process"


----------



## RainyDay

RainyDay said:


> Tesco are offering 0% on balance transfers for six months, which is pretty good. They seem to be also offering 0% on new purchases for eight months, which is very, very good, unless I'm missing a catch.
> 
> AIB Platinum have 3.83% APR on balance transfers for 12 months, which is pretty good, and same on new purchases, which isn't bad.
> 
> So the question for me is - will the cost of my balance transfer to Tesco for the 2nd six months at 14.9%, outweigh the savings on the 0% purchases for 8 months?



Just FYI for others, I got my Tesco card, but with a very low credit limit of €3k, less than half what I had with Danske. I'm still waiting for a response from AIB on the credit card application.


----------



## llgon

Letter of complaint written for Danske. Have told them I want them to continue to honour contract and provide offset arrangement.


----------



## yop

Ok folks, page setup

https://www.facebook.com/DanskeRipOff

Spread the word, just share it and please ask those you know to share it. 

I made contact with Sinead Ryan from the independent.ie who has been great previously in responding to one of my tweets, she has all the details and will probably drop in on these threads.

Stand firm, enjoy the ride!


----------



## margaret1

We have a prestige c/a account and paid €31.25 per quarter,we have not received a letter to close the account as yet, hopefully we can assume we will not be charged the Jan-March quarter fees while we are trying to move to a new bank.We also have a custody account with €20 fees bi annually, there is no mention of the custody accounts or fees on the Danske announcement, any updates on the custody accounts?    

Danske Bank website
"Package Fees and Transaction Fees (if applicable) were removed from 1st January 2014 and no longer apply to your account. No charge will apply for first copy of duplicate statements. Other ancillary charges will still apply"


----------



## car

Did anyone with an investment mortgage get a letter yet?

I've got an offset with the prestige account and an investment mortage.  Still waiting on the letters.  

Can someone else say whats on their letters with the offset, are they saying they're going to sell your mortgage to another providor at current rate - 1% or do you keep your mortgage with Danske @ current rate - 1%.


----------



## yop

car said:


> Did anyone with an investment mortgage get a letter yet?
> 
> I've got an offset with the prestige account and an investment mortage.  Still waiting on the letters.
> 
> Can someone else say whats on their letters with the offset, are they saying they're going to sell your mortgage to another providor at current rate - 1% or do you keep your mortgage with Danske @ current rate - 1%.



Hi, 
No they are retaining the mortgage but closing ALL your accounts besides.
They are offering a 1% reduction on the interest rate you are paying now.
They do not say how long this 1% reduction will last. 

I have created a group on Facebook for people to share to inform others who have similar accounts.
https://www.facebook.com/DanskeRipOff


Make your complaint to Danske.
Then also email the ombudsman and the central bank.


----------



## mozzer

jmcc99_98 said:


> Sorry I was blind! I have seen the few posts about the credit cards.
> 
> Has anyone had confirmation that if you pay the balances off over two years that these will be "Bad marks" on your credit history?
> 
> Is there no way that Danske could just transfer the balances to a personal loan arrangement and let you pay them over 2 years.
> 
> Has anyone had legal advice or similar on this matter - it seems terribly terribly unfair to get landed with a bad credit rating essentially on the decision of Danske to move, and your inability to pay something off immediately which you have serviced up until now, paid high interest on and also genuinely believed you could pay off over a longer period



I asked about the credit rating...this is the response I got

As long as the repayment plan is adhered to and no payments are missed there will be not detrimental impact on your ICB report.


----------



## jwd

I received a letter from Danske this morning advising me NOT to close my Current Account until so advised, to ensure that my Custody Account can continue to operate. They will write "in the coming weeks" to outline options for the Custody Account.


----------



## lff12

RainyDay said:


> Just FYI for others, I got my Tesco card, but with a very low credit limit of €3k, less than half what I had with Danske. I'm still waiting for a response from AIB on the credit card application.



It might be worth mentioning that Tesco turned me down absolutely, despite the fact that I've a substantially above average income, no outstanding debt and considerable savings.  It seems they "don't do business" with those who are not standard full time permanent employees.

I'm currently talking to another provider (and looking only for 2.5k) but already this ISN'T enough:
6 months payslips
6 months bank statements
6 months credit card statements
last years P21
Signed copy of my current contract (luckily its 6 more months to run)

In addition to this JUST TO APPLY they want the following:
3 years audited accounts
Evidence of all of my savings with a 3rd institution

And that's just to apply....

Good luck.


----------



## lff12

jmcc99_98 said:


> Sorry I was blind! I have seen the few posts about the credit cards.
> 
> Has anyone had confirmation that if you pay the balances off over two years that these will be "Bad marks" on your credit history?
> 
> Is there no way that Danske could just transfer the balances to a personal loan arrangement and let you pay them over 2 years.
> 
> Has anyone had legal advice or similar on this matter - it seems terribly terribly unfair to get landed with a bad credit rating essentially on the decision of Danske to move, and your inability to pay something off immediately which you have serviced up until now, paid high interest on and also genuinely believed you could pay off over a longer period



My understanding is that effectively they are stopping the credit facility but if you don't have the account paid in full existing terms and conditions of oustanding credit still apply - i.e. you basically keep paying until its paid off.  I'm not entirely sure that they can legally demand that you pay the outstanding amount in full by a certain date unless that was what was originally agreed in the terms of credit.

So basically as long as you continue to pay the minimum payment or the payment % you originally agreed, I am not sure that legally they can actually demand the amount to be even paid within 2 years.  That might be worth talking to FLAC or similar consumer organisation about, if nobody else has.


----------



## SarahMc

jwd said:


> I received a letter from Danske this morning advising me NOT to close my Current Account until so advised, to ensure that my Custody Account can continue to operate. They will write "in the coming weeks" to outline options for the Custody Account.



 Me too.


----------



## A12

*Danske credit card and overdraft*

Hi. I spoke to Danske about paying off credit card balances and overdraft blances, which I told them I could not do in 2 years as stated in the original documentation that I was sent when told that they were closing the accounts. I was told not to worry as a facility was in place to allow people up to 7 years to pay off the debt. I completed the application forms and am nowj ust waiting for that to be finalized.


----------



## MrEarl

A12 said:


> Hi. I spoke to Danske about paying off credit card balances and overdraft blances, which I told them I could not do in 2 years as stated in the original documentation that I was sent when told that they were closing the accounts. I was told not to worry as a facility was in place to allow people up to 7 years to pay off the debt. I completed the application forms and am nowj ust waiting for that to be finalized.



Did they tell you what interest rates would be applicable and what impact these alternative facilities would have on your ICB record etc ?

Thank you.


----------



## ashambles

Danske's latest mail says that custody accounts will be switched to Goodbody by default or anyone else you'd prefer. I only had a quick  glance at the letter so I don't know the details.

It's a real shame as Danske's platform was excellent.  Goodbody's regular fees are here for those interested.

[broken link removed].


----------



## Yakuza

I've just asked for a call back in relation to my custody account. I have some untradeable Anglo/IBRC shares on them and I want to shut down my account before it migrates over to Goodbody's. I'm sure I'm not the only person with such shares stuck in their custody account; I'll post back here when I find out how to get rid of them.

 Update - I got through to their Custody account folks, and they emailed me a form to sign that where I indicate that I relinquish all ownership of the shares to Danske Bank.  
 Once the shares are removed, the account can be closed (this instruction can be added to the form)


----------



## MrEarl

twofor1 said:


> Anyone closing a Danske Credit Card account, make sure they send you a ‘’Letter of Closure’’
> 
> This letter confirms you have paid the Government Stamp Duty for the current chargeable period, 02/04/13 – 01/04/14.
> 
> Your new provider should not apply the €30.00 Government Duty until 02/04/15, if you produce this letter.




Hi,

That is an important one alright, thank you.

Also there is a need to return your unused cheques and insist you get a refund of stamp duty - there should be no problem doing this, but best to act quickly before your account is closed, if you simply want them to put funds back into your Danske current account and not spend a while chasing them for a refund cheque. 

Anything else we need to be doing here - are there charges for debit cards etc ?


----------



## yop

There are a good few of us who have lodged complaints to the ombudsman after getting the standard blurb from Danske. 
It will be interesting to see what happens.


----------



## potnoodler

Time is getting closer now to the closing of the current accounts. Would I be in any breach if I just pay the mortgage repayment directly into the account and not bother with a direct debit set up 
Defo dont want to jeopardize my tracker and have asked dansk if I can go that route but surprise surprise they said no its not an option


----------



## MrEarl

potnoodler said:


> Time is getting closer now to the closing of the current accounts. Would I be in any breach if I just pay the mortgage repayment directly into the account and not bother with a direct debit set up
> Defo dont want to jeopardize my tracker and have asked dansk if I can go that route but surprise surprise they said no its not an option



Hello,

I must admit I am of similar mind myself.

While it may not be Danske's prefered option because Danske would rather force us all onto direct debit, that doesn't mean it's not an option.  

I think we each need to ask them to show us a copy of the loan documentation, where it references repayments as I suspect paperwork differs depending on when our loans were drawndown etc.  

Pehaps our loan documents refer to the requirement for a feeder account at Danske (previously National Irish Bank), payment by standing order etc and if so, they can't force us to pay by direct debit or penalise us if we refuse to pay by that method etc.


----------



## ang1170

I filled out the form to close the mortgage service account (it used to be my main current account), but didn't sign the direct debit - I've set up a standing order instead - and said I would not do so. 

I've just got another letter asking me to sign a direct debit mandate "to process your account closure request". I've written to them repeating what I said in my earlier letter.

I await their response with interest.


----------



## RainyDay

potnoodler said:


> Time is getting closer now to the closing of the current accounts. Would I be in any breach if I just pay the mortgage repayment directly into the account and not bother with a direct debit set up
> Defo dont want to jeopardize my tracker and have asked dansk if I can go that route but surprise surprise they said no its not an option



I was thinking about the same approach. I made a €1 payment to my mortgage by eBanking last night, so I just want to check that the transfer actually lands in my mortgage account.

They can whistle for their direct debit, really.


----------



## ang1170

Just to note that a direct payment from an external account works just fine. Like you, I did a small test payment first, which worked, as did the full monthly amount which went through from a SO.


----------



## landlord

Only issue with standing order is your responsible for changes when the ECB rate or variable rate changes.


----------



## RainyDay

I had a nice call back from Danske today, basically saying that a standing order is OK, but with a few provisos attached;

1) You are responsible for changing the SO amount if the rate changes
2) If the SO arrives too early, it will be treated as an extra lump sum repayment, not a regular repayment
3) If the SO arrives too late, even 1 day late, they will be firing out arrears letters
4) They will hold onto TRS, and you will have to request transfers of TRS amounts to a designated account

I'll go for that, though the TRS bit is a bit messy.


----------



## ang1170

Thanks for this - a useful update.



RainyDay said:


> 2) If the SO arrives too early, it will be treated as an extra lump sum repayment, not a regular repayment


 
 Do you know what they consider "too early"?




RainyDay said:


> 4) They will hold onto TRS, and you will have to request transfers of TRS amounts to a designated account


 
 What does "hold onto TRS" mean? How often will they do a transfer?


----------



## MrEarl

RainyDay said:


> I had a nice call back from Danske today, basically saying that a standing order is OK, but with a few provisos attached;
> 
> 1) You are responsible for changing the SO amount if the rate changes
> 2) If the SO arrives too early, it will be treated as an extra lump sum repayment, not a regular repayment
> 3) If the SO arrives too late, even 1 day late, they will be firing out arrears letters
> 4) They will hold onto TRS, and you will have to request transfers of TRS amounts to a designated account
> 
> I'll go for that, though the TRS bit is a bit messy.




Hello Rainyday,

That looks like some good progress.  You clearly got someone on the phone who was willing to take a reasonable attitude, rather than someone trying to dictate that you do what your told (i.e. sign a direct debit) end of story ....

Can someone simply give them a standing instruction to transfer all future TRS credits to a nominated account (dare I suggest, my current account at another Bank or possibly their Danske Homeloan, as they require) - personally, I cannot see why not ?  Another option is to instruct them once or twice a year to transfer the total TRS credits to the Mortgage, the total TRS credits for the period could potentially equate to a mortgage payment each year and effectively give some people a payment holiday (for that month) of sorts.

As for them issuing arrears letters if your payment is as much as 1 day late, I can't see how that will do anything other than waiste money and kill a few more trees - I don't think they can charge for issuing an arrears letter, while the payment will most likely cross over with the arrears letter, so it will have zero impact on the ICB etc given we're only talking about a day or two in many instances.  Is that how you and others also see it ?

Thanks


----------



## RainyDay

ang1170 said:


> Do you know what they consider "too early"?


One day is too early, afaik.


ang1170 said:


> What does "hold onto TRS" mean? How often will they do a transfer?


It means just that - they hold onto the money until you ask them to transfer. She mentioned something about transferring it every month, if you request it every month.



MrEarl said:


> Hello Rainyday,
> 
> That looks like some good progress.  You clearly got someone on the phone who was willing to take a reasonable attitude, rather than someone trying to dictate that you do what your told (i.e. sign a direct debit) end of story ....


Yes, it was definitely along those lines. I didn't have to haggle or push for this outcome. She rang me with this 'agreed position' straight off the bat.



MrEarl said:


> Can someone simply give them a standing instruction to transfer all future TRS credits to a nominated account (dare I suggest, my current account at another Bank or possibly their Danske Homeloan, as they require) - personally, I cannot see why not ?  Another option is to instruct them once or twice a year to transfer the total TRS credits to the Mortgage, the total TRS credits for the period could potentially equate to a mortgage payment each year and effectively give some people a payment holiday (for that month) of sorts.


She definitely gave the impression that you had to request each transfer, so I don't think a 'standing instruction' is an option. Seems a bit silly, but there you go.




MrEarl said:


> As for them issuing arrears letters if your payment is as much as 1 day late, I can't see how that will do anything other than waiste money and kill a few more trees - I don't think they can charge for issuing an arrears letter, while the payment will most likely cross over with the arrears letter, so it will have zero impact on the ICB etc given we're only talking about a day or two in many instances.  Is that how you and others also see it ?


Yes indeed - seems like a pile of unnecessary paperwork, but that's how the systems work, expecting the direct debit to be sucked in on the exact day.


----------



## ang1170

RainyDay said:


> One day is too early, afaik.


 
 Laughable.....


----------



## Protocol

I don't understand what people have against DD.

Sure the repayments will be the same with SO or DD.

With SO, I "push" to them.

OK, so you have more control.

But do you? According to RainyDay, the SO must be on the exact day as when they would "pull" the DD.

So you don't have discretion over dates or amount............

And aren't we protected by a DD code of conduct under SEPA??


----------



## ang1170

Protocol said:


> I don't understand what people have against DD.



Simple example, which happened to me within the past year:

Company A takes an amount from my account using a DD. The amount and/or time is not correct (I can't recall which). The amount taken leaves next to nothing in the account. Meanwhile company B tries to take a DD, but because of the first transaction it fails. I didn't notice either of these for a couple of days, by which time Company B has applied a "late payment fee". It takes many phone calls to sort out company A's mess, and many more before company B refunded the late payment fee (which they probably weren't obliged to).

What's wrong with DDs? Some companies you just cannot trust to get the time or amounts right, and Danske is one of those companies. Although things have improved in recent times in relation to getting payments reversed, it is a lot of trouble and does nothing for the kind of scenario that I describe above.

With a SO or direct transfer you retain complete control over what happens to your account.


----------



## serotoninsid

I'm with Protocol on this.  Ideally, perhaps it would be better not to have to do DD.  However, if the $ is not pushed over to them on the specified day with the specified amount (and remember, at some stage, there will be a series of interest rate increases once more), will this not go down as a missed payment?  It most certainly will if Danskes letter informing you of this arrives later than the date they give to rectify this by (as has happened on one occasion with my Danske mortgage).

I've signed and returned the D.D. mandate - but I will be watching them ....ALWAYS!


----------



## MrEarl

Hello,

Rainyday - thank you for your responses.

Everyone, regarding the matter of direct debits, anytime you sign one you give someone else free access to draw funds if and when they want, from your account.  *ang1170* sets out a very good example of something which has probably happened to quite a few of us, at some stage or another.

As memory servces, I think it may be *pepper* who have been awarded the outsourcing work from Danske for some if not all of their customer loan book.  If Danske have not already outsourced the management of their residential loan book, then it's only a matter of time given they won't have the staff here to do it directly ...

If this is the case, then thats then an outsourcing company you have to chase to get your incorrectly taken direct debit monies returned ... they in turn may or quite possibly may not have the authority to transfer funds "owned by Danske" and will have to contact Danske to get approval to return funds etc etc.  How long could that take, how many phonecalls, how many subsequent problems due to one incorrectly taken direct debit ?

All in all, it's an unacceptable risk as I see it.


----------



## RainyDay

It's horses for courses of course. If you're happy with a DD, fire away. I'm not, and as I'm not too happy overall with Danske at the moment, it didn't seem unreasonable to take a stand.


----------



## michaelm

Still, the SO route seems like more hassle that it's worth.


----------



## MrEarl

michaelm said:


> Still, the SO route seems like more hassle that it's worth.




Personally, I don't think so - whats putting you off, if you don't mind me asking ?


----------



## A12

MrEarl said:


> Did they tell you what interest rates would be applicable and what impact these alternative facilities would have on your ICB record etc ?
> 
> Thank you.



Hi. Apologies for not replying sooner. I haven't logged in for a while. Interest rate is same as currently on the card (11.5%) and there is no impact on ICB rating, as long as I make agreed payments each month. In addition, I can make lump sum payments when I want without penalty. It is simply a continuation of the current agreement under the same terms and conditions but with a withdrawal of the credit facility.


----------



## michaelm

MrEarl said:


> Personally, I don't think so - whats putting you off, if you don't mind me asking ?


2) If the SO arrives too early, it will be treated as an extra lump sum repayment, not a regular repayment
3) If the SO arrives too late, even 1 day late, they will be firing out arrears letters
4) They will hold onto TRS, and you will have to request transfers of TRS amounts to a designated account


----------



## RainyDay

A12 said:


> Hi. Apologies for not replying sooner. I haven't logged in for a while. Interest rate is same as currently on the card (11.5%) and there is no impact on ICB rating, as long as I make agreed payments each month. In addition, I can make lump sum payments when I want without penalty. It is simply a continuation of the current agreement under the same terms and conditions but with a withdrawal of the credit facility.



It's not really a continuation of the same agreement - under the original credit card, you had to pay the minimum payment each month. Under this deal, you have to pay the rescheduled payment (balance / 24 plus interest) each month.

It's an interesting question as to whether they could affect your ICB rating for failing to pay the rescheduled payment, seeing as you never agreed to this rescheduling in the first place.


----------



## ang1170

An update on this....

I just received a phone call from Danske, and was told:

- they were OK with not having a direct debit in place for the mortgage
- they are OK with a standing order from an external (i.e. different bank's) account to pay directly into the mortgage
- they are OK with the these payments being a few days ahead of the existing repayment date
- I was cautioned that it was up to me to change the amounts if the repayment amounts change in the future: I was told they would write if the amount does change
- They have set up a transfer to my external account for TRS payments, which will be made automatically

This obviously contradicts what they have said to others. My guess is they have changed their attitude, probably in response to the feedback they've been getting.

Assuming they actually follow through with this, it seems reasonable to me. The only negative with a SO is having to change the amount should that change, but given this is fairly infrequent I don't see it as much of a problem.


----------



## Orga

ang1170 said:


> An update on this....
> 
> I just received a phone call from Danske, and was told:
> 
> - they were OK with not having a direct debit in place for the mortgage
> - they are OK with a standing order from an external (i.e. different bank's) account to pay directly into the mortgage
> - they are OK with the these payments being a few days ahead of the existing repayment date
> - I was cautioned that it was up to me to change the amounts if the repayment amounts change in the future: I was told they would write if the amount does change
> - They have set up a transfer to my external account for TRS payments, which will be made automatically
> 
> This obviously contradicts what they have said to others. My guess is they have changed their attitude, probably in response to the feedback they've been getting.
> 
> Assuming they actually follow through with this, it seems reasonable to me. The only negative with a SO is having to change the amount should that change, but given this is fairly infrequent I don't see it as much of a problem.



Ang, I;ve had contact in the last few days and it is in keeping with what RainyDay describes. The message has been repeated by different people from Danske, verbally and in writing to me i.e. the payment MUST be on the day is the key thing. Just saying so that you would be aware.


----------



## ang1170

I'm somewhat distrustful of Danske OK, so I sent them an e-mail to confirm my understanding of the conversation, and asking them to respond if any of it was incorrect. So far, no response. It'll be interesting to see what happens when the next payment goes through......


----------



## DingDing

Had a call from someone from Danske yesterday morning about my direct debit, this was after ringing them twice to make sure they had the correct details, and also after the payment for the mortgage left the account.

Rang Danske to speak to a manager to complain, I am still waiting the call back.  The person would not talk to me just to my wife.

My assumption is that they outsourced to a third party to ring everyone as their mortgage was due.  The third party did not have access to the system just a list of names and details.  She would not talk to me even though it was a joint account.  

I rang them back earlier in the week as I got a letter to ring because there was an issue with my life insurance also caused by the switch.  When I rang the number the person I got through to was only interested in direct debits and did not understand why I was ringing about insurance.  I tried my best to give her a tutorial on the need to secure a mortgage on the family home with a life policy and the need to keep this policy in play. The quality of the helpdesk is very hit and miss at the moment and they are requesting you to ring and don't know why you are ringing.  And they seem to be contracting it out to third parties.


----------



## potnoodler

Ive made a number of enquiries via the secure mail and getting "not my department im forwarding it on"
So looks like most contacts have been outsourced


----------



## MrEarl

Hello,

After some absolutely crazy conversations with various staff members of Danske (or their outsourcers ?) via secure mail I've now got them to confirm that I don't have to pay via direct debit.  They have admitted that it's their prefared payment option but no more.  They also advised that late fees of a tenner a go will apply, where payments are not received within 5-days of the due date.

I don't think the left hand knows what the right hand is doing at Danske these days, to be honest .... but dig in if you want something and believe you are in the right, you'll get there eventually !.


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## DingDing

I might convince them to close my mortgage account


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## DingDing

Would anyone have any concerns about their personal information being given to an outsourced company of a bank that is closing down.  

The details for the security questions could be used to access other sites.

Also they also appear to have them in list format as they dont have any access to the systems.


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## RainyDay

Any idea what will happen to the deeds of properties that are currently held by Danske?


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## DingDing

Good question.

I am due to get them back next year.

Cheers

Michael


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## MrEarl

RainyDay said:


> Any idea what will happen to the deeds of properties that are currently held by Danske?



Very good question.

What assurances have we that they won't be kept in a basement safe somewhere in Denmark or how quickly they can be released (for example, to a solicitor) if there is a sale pending etc ?


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## twofor1

I have just requested the title deeds etc for my family home which Danske held as security for a recently sold investment property.

I was told on the phone to post my request to Danske, 1 Airton Close, Airton Road, Tallaght, stating whether I wanted them sent by registered post to myself or to my solicitor. I could also have sent the request on line through their secure email.

Once the request was received it would take 2 weeks for their legal department to remove Danske's interest and then post.


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## michaelm

I got a 'reminder of account closure' letter yesterday.  It mentions  removal of functionality and benefits on termination date; nothing  specific about what 'benefits' means.  I guess they will take away my  .45% mortgage rate discount for Prestige account holders.  Has anyone on  AAM closed their Danske account already and had the discount withdrawn.  Is  there any prospect that they won't move to discontinue this discount  (and the .25% discount for other fee paying account holders)?


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## yop

Got the same. Until the FSO investigation is completed I am closing nothing.


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## ang1170

I noticed this morning that a credit for a TRS payment, which used to go to my Danske mortgage servicing account, was paid into my PTSB account. My last two mortgage payments went by SO from this same account: I've no direct debit set up.

In other words, it all seems to be working without setting up a DD as originally requested by Danske. The mortgage servicing account is now closed.


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## DingDing

There were other changes attached to the prestige account, you had to accept a new mortgage agreement,  It might be worth digging out the mortage agreement to see what happens if you no longer have the prestige account.  I did not go for the discount at the time because of the changes to the mortgage conditions.


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## serotoninsid

MrEarl said:


> As memory services, I think it may be *pepper* who have been awarded the outsourcing work from Danske for some if not all of their customer loan book.


Looks like you were quite right => http://www.irishexaminer.com/business/pepper-to-take-over-danske-mortgage-accounts-268978.html


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## MrEarl

serotoninsid said:


> Looks like you were quite right => http://www.irishexaminer.com/business/pepper-to-take-over-danske-mortgage-accounts-268978.html




Thank you.

"From June 16 Pepper will handle all day-to-day management of the loans  from customer service through to specialised case management"

I actually suspected that some of the services were already being provided by Pepper and that this may explain the mixed responses and experiences we've been having in recent weeks.  However, if not ... then I seriously fear for life as a Danske customer post June 16.


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## DingDing

I wonder will the accounts still be available in on-line banking after that date.


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## DingDing

twofor1 said:


> I have just requested the title deeds etc for my family home which Danske held as security for a recently sold investment property.
> 
> I was told on the phone to post my request to Danske, 1 Airton Close, Airton Road, Tallaght, stating whether I wanted them sent by registered post to myself or to my solicitor. I could also have sent the request on line through their secure email.
> 
> Once the request was received it would take 2 weeks for their legal department to remove Danske's interest and then post.



Looks like pepper could be charging for this in the future.

[broken link removed]


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## RainyDay

DingDing said:


> Looks like pepper could be charging for this in the future.
> 
> [broken link removed]



Given that I have no contractual relationship with Pepper, how can they charge fees to me?

What happens if I refuse to pay the fee at the end of the mortgage term?


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## 10amwalker

DingDing,

Danske already charges for the legal costs associated with clearing a charge/mortgage. I was in touch with them earlier in the year and I think the figure was €75 to have my documents given to either me or my nominated solicitor.


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## 10amwalker

A question please:

On the SEPA direct debit mandate form that Danske sent me ( as they are closing their current accounts) it states
" As part of your rights, you are entitled to a refund from your bank under the terms and conditions of your agreement with your bank. A refund must be claimed within 8 weeks starting from the date on which your account was debited. Your rights are explained in a statement that you can obtain from your bank. "

Does anyone know what this is about ?
Is it the prestige quarterly fee ?

Thanks
10am walker


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## ang1170

MrEarl said:


> "From June 16 Pepper will handle all day-to-day management of the loans from customer service through to specialised case management"


 
 I got a letter from Danske this morning, confirming this.

 The letter said that Pepper were taking over administration loans and mortgages. It was explicit that they had not been sold, and the contractual relationship was still between the customer and Danske.

 I'm leaning towards optimism on this development, on the basis that the customer service and in particular consistency can hardly be worse than that Danske have been providing in recent months.


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## Butter

I also got the letter that ang1170 mentioned above. 
When I logged onto my Internet banking I also noted that my servicing account has now been removed although I have not actually closed this account. The account is apparently visible to call centre staff but i cant access it online, as I rang to enquire about it.


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## Shawady

Whats in it for Pepper to service these loans?


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## Protocol

They get paid by Danske.


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## 10amwalker

*Pepper*

I find it very interesting that the communication from Danske regarding Pepper Asset Servicing give a telephone number (1890) and a postal address.

Surely they have an email address that we can use ????


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## potnoodler

Did dansk buy nib off rhe Australian bank and flogging the stupid rates loans they gave out.  Madnss


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## DingDing

Anyone use the priority pass card since the account was closed.


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## MrEarl

DingDing said:


> Anyone use the priority pass card since the account was closed.



No, but don't think there's an expiry date on it from memory (sorry can't put my hand on it at the moment) so will certainly give it a try next time I'm traveling unless I discover in advance its' definitely cancelled ....


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## DingDing

My one has an expiry date of mid 2016.


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## DingDing

Tried to use the priority pass in Dublin Airport this morning and the card was declined.


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## DingDing

Anyone who left danske have trouble getting a credit card from ulster bank.  I got a reply that I had insufficient income even though I had a prestige account with Danske and there has been no change to my income or outgoings.

They must not want to give any credit cards.


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## serotoninsid

DingDing said:


> Anyone who left danske have trouble getting a credit card from ulster bank.  I got a reply that I had insufficient income even though I had a prestige account with Danske and there has been no change to my income or outgoings.
> 
> They must not want to give any credit cards.


They're probably doing you a favour (inadvertently).  With the exception of car hire, visa debit card is the business - with no extortionate interest rates coming into play.


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## DingDing

Always clear it every month.  Can the visa debit be used for car hire and do you need to have the funds to cover any deposit in the current account.


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## serotoninsid

DingDing said:


> Can the visa debit be used for car hire


From my post above => 





			
				serotoninsid said:
			
		

> With the exception of car hire..





			
				DingDong said:
			
		

> do you need to have the funds to cover any deposit in the current account.


Aye, surely.  It is after all a visa *debit* card as opposed to a visa *credit* card.


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## Auld-Yin

DingDing said:


> Anyone who left danske have trouble getting a credit card from ulster bank. I got a reply that I had insufficient income even though I had a prestige account with Danske and there has been no change to my income or outgoings.
> 
> They must not want to give any credit cards.


 
I got the impression; "_they're just not interested_", although I suppose many people would refute the idea.
I filled in some online forms and got the promised phone call.
Call ended with the girl saying "I'll check that and call you back". She even advised me that my phone would say it's a call from a blocked number.
A week later, and no call so I rang them. Spoke to her colleague who eventually assured me that I would receive a call by end of week.

I didn't so am now with another bank.


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## lff12

Auld-Yin said:


> I got the impression; "_they're just not interested_", although I suppose many people would refute the idea.
> I filled in some online forms and got the promised phone call.
> Call ended with the girl saying "I'll check that and call you back". She even advised me that my phone would say it's a call from a blocked number.
> A week later, and no call so I rang them. Spoke to her colleague who eventually assured me that I would receive a call by end of week.
> 
> I didn't so am now with another bank.



I didn't try Ulster but got turned down by Tesco.  I went to PTSB and after a huge amount of pain managed to get all of my accounts transfered (current/savings and a credit card).  It was a chore.  I got the impression that most of the banks are interested in new business but only if you fit narrow profile of better than average income, little or no debt, permanent employment and savings.  If any one of those boxes are not ticked they just can't be bothered.  Its a huge problem and there is a huge gap in the market for a bank that takes into consideration that everybody isn't a PAYE worker on a fixed salary.


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## llgon

Danske chosen to provide Government banking services

https://www.rte.ie/news/business/20...hosen-to-provide-government-banking-services/

Does this mean that Danske are involved in retail banking in this country again?

Having been forced to carry out  transactions related to my Danske offset mortgage solely by post over the past number of years I had to laugh at the line: 

'He said it demonstrates the group’s expertise in digital banking'


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## Lightning

Sounds like an agreement to provide back end services such as behind the scenes transnational processing services. 

Danske Bank are not entering the retail banking market again.


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