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

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The FSPO emailed us this morning to confirm we are in the same cohort as the legally binding decision dated March 12th in respect of a different complainant. They have now placed our complaint on hold until AIB's redress scheme is complete. When that payment is made AIB will provide the FSPO with a copy of all correspondence related to the redress. The FSPO will then contact us again to ask how we wish to proceed.
 
What happens to those who have cleared the mortgage since ( I moved a year ago) . Presuming there is a cash option for the many customers who have since moved/switched providers since
 
Brendan Burgess said:

FAQ - AIB Prevailing Rate tracker redress Frequently Asked Questions

AIB quietly edited their website last Friday to say the following "While this case involved a number of complex issues the Bank has decided to accept the finding in full, and to apply the finding to other customers within the same cohort." They have not issued any further information. It is...
askaboutmoney.com
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That is very interesting. I spoke to someone in the FSPO who gave me great confidence in filing a complaint. I received our case file and it was very interesting, if not scary.
 
Hi folks, can I add my thanks to Brendan for all the work in getting to this stage. Amazing.
What I find strange is the lack of communication from AIB - no letter or email to say that this FSPO decision will impact on me (I presume nobody else has received a communication?). Besides vague statements and stock exchange releases there has been no real communication with the customer. Without askaboutmoney I would be lost and probably not know about the recent decision of the FSPO. I get that the exact calculations may come in July/August but it is quite lazy of the bank to have no direct communication to let customers know of the process and that they are included.
 
You can call the helpline to confirm it for yourself 1800 23 54 60. AIB have never been in a hurry to resolve this issue and a lot of people are probably unaware they are even impacted. If they did the decent thing and just sent a notification it could remove a lot of Covid19 financial related stress from some of these family's but that's not AIBs MO.
 
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Guys

Would you send emails to the Central Bank about this.

I raised it at the AGM I think.

It's an absolute disgrace.

trillium said:
I get that the exact calculations may come in July/August
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Are you sure. They just sent Karen the money without any supporting calculations.

As it happened, I had worked out in advance what it should be and it was close enough. But I won't be able to do that for 5,906 other people.

Brendan
 
And by the way, The Minister for Finance voted for the reappointment of all the directors at the AGM.

Maybe you could let him know how bad this is.

this articulates it very well:

If they did the decent thing and just sent a notification it could remove a lot of Covid19 financial related stress from some of these family's but that's not AIBs MO.
 
Brendan Burgess said:
Guys

Would you send emails to the Central Bank about this.

I raised it at the AGM I think.

It's an absolute disgrace.



Are you sure. They just sent Karen the money without any supporting calculations.

As it happened, I had worked out in advance what it should be and it was close enough. But I won't be able to do that for 5,906 other people.

Brendan
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Is there a formula we can use or way in which we can work out ourselves? Probably not that straight forward I fear :(
 
As happy as I will be to get the redress, I am getting more annoyed that there is to be no communication before we get it. Surely there should be some sort of breakdown of the calculation of our figures. I think this is especially relevant to anyone who lost a house due to not being offered a tracker.
 
bungaro said:
As happy as I will be to get the redress, I am getting more annoyed t
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That is exactly how I feel.

I was delighted that the Ombudsman upheld our complaint and effectively redressed 5,907 people.

But AIB has been arrogant and condescending in the way they have handled it so my dander is up.

I don't understand how the Central Bank is letting them take up to 6 months to even notify people.

Brendan
 
I will send an email to central bank too.. im sure its enough to send a brief email to Central Bank saying that i am annoyed at the way AIB are handing this and have done since day one and the lack of communication from them
 
Hi Brendan,
I got the letter saying my appeal was on hold & to contact AIB. I rang the CB & we spoke about the Appeals Panel. I explained my appeal was with the panel for 17 months. The girl from the CB explained that the AIB has put in place this Panel under guidelines from the CB. This Panel had a job to and if they are not doing it, the CB want to know about it.
Anyone that got this letter should mail the CB. You get a response straight away with an acknowledgement & a reference no.
We have nothing to loose.
 
Just emailed Central Bank this evening.

Thanks a million to all for the advice and guidance on here.
 
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