AIB AIB has accepted the Ombudsman's decision and will be rolling it out to 5,900 impacted customers

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Hi All,

this is a copy of our e-mail to central bank, please use if you wish.

Dear Sir / Madam,
I am currently a customer with AIB and we have a mortgage with themselves. We are in the cohort of roughly 5,900 people in regards to the tracker redress scheme.
We received a letter dated ****** in regards to this and highlighting that we were not affected but they offered a small amount of €1,600. We appealed this to BDO, who are an independent panel.
Subsequently a FSPO final decision was issued against AIB in 1 of the cases of the cohort. AIB has now stated that all people in this cohort will get redress as per the final decision from the FSPO.
The only reason we have found about this decision is due to media and on line information, also AIB decided to change their website stating that another cohort is being included in the redress scheme, no announcement, or letter issued.
The final decision from the FSPO was ******, as of today 26th of May we have not received any correspondence from AIB in regards to this.
We find this appalling that AIB has not even sent out a new letter stating that we are now under redress and that this is currently being looked into and we will receive documentation/payment/redress in July / August 2020.
We also find it very frustrating that we will have to wait over 3 months for this payment, especially with Covid19 and the financial strain that it is having on us all. There is over 300 staff working in AIB on redress scheme, it shouldn’t take this long and it looks like another way AIB is trying to delay payment.
Can you please intervene and contact AIB asking them to undertake their moral duty to inform the full cohort, including ourselves that we are receiving redress and how this will be done, including calculations. Also, that payment should be issued as a matter of urgency and no delay on the same.
Yours Sincerely,
 
These emails to the central bank seem like a bit of a waste of time, we are about 8 weeks from the redress and have been waiting 10 years already so just hold tight
 
Hi
I spoke with the CB last week, they want to know about these issues we’re having.
The more emails the better..
 
Tdress2020 said:
Hi
I spoke with the CB last week, they want to know about these issues we’re having.
The more emails the better..
Click to expand...

Agreed.

If nothing else, it serves as an outlet for those who have been taken for a ride by AIB to vent their frustration.

I disagree with post 202.

I think the fact that we have been waiting for 10 years make further delays more egregious. There is no excuse for this.

Perhaps if more people complained in general in this Country, there might be more of an immediate backlash against banks and companies who take the proverbial.
 
email sent today too. Has anyone contacted aib and actually been told what they will be applying to their account? When I rang 2 weeks ago, I was told that a figure of 12% would be applied, when I asked about compensation, she said that nothing had been decided on. I say we all call them as much as possible!
 

They actually told you 12%?
 
Considering they wrote down Karen's mortgage by 12% that's always going to be constant across the rest of the cases. It's the other bit which is unsure. As Brendan says, he calculated the interest would be around 4% in her case and he was very close but we will have to wait and see what the bank come back with so I think there's no point guessing. And who knows about the compensation?? I hope the lack of a solid reply from the central bank means they're actually listening to us and engaging with the bank
 
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Email recieved fromcentral bank this morning


I refer to your email of 19 May 2020.

While the Central Bank does not have a statutory role in investigating individual consumer complaints, we use any information that we receive directly from consumers to guide the scope of our broader supervisory work.

I understand from your email that you are frustrated with the lack of information provided by your lender AIB, with regards to the calculation of the redress due to you. Where customer detriment has been identified, the Central Bank expects that payments are issued to customers in a timely manner. I note that AIB has publically committed to issuing payments to customers in July and August. Any further information or updates relating to any impact of the FSPO decision for your mortgage should be sought from AIB directly. See attached link to their website which we understand will be updated this week on this matter https://aib.ie/review-of-tracker-mortgages
 
Got the same this morning


I refer to your email.

While the Central Bank does not have a statutory role in investigating individual consumer complaints, we use any information that we receive directly from consumers to guide the scope of our broader supervisory work. I can confirm that the information contained in your email has been passed to the relevant supervisory area, however, please note that due to the confidentiality restrictions under which the Central Bank operates, we will not be able to update you on any actions taken or supervisory engagements with an individual lender.

I understand from your email that you are frustrated with the lack of information provided by your lender AIB, with regards to the calculation of the redress due to you. Where customer detriment has been identified, the Central Bank expects that payments are issued to customers in a timely manner. I note that AIB has publically committed to issuing payments to customers in July and August. Any further information or updates relating to any impact of the FSPO decision for your mortgage should be sought from AIB directly. See attached link to their website which we understand will be updated this week on this matter https://aib.ie/review-of-tracker-mortgages
 
My email received this am attached below:
 

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Same response - CB are busy today!
Wonder when 'this week' refers to for update from AIB?
 
Seems to be the same from what I can see.

Got the copy and paste reply from the CB too
 
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