Bank of Ireland Payment Protection Refunds?

M

mo3art

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Has anyone heard back from the Bank in relation to the payment protection refunds yet?

Just I registered for a refund as I reckon I'm entitled to it but haven't even heard a thing. No phone call, or letter since I contacted them on their hotline.
 
I was told that letters would be sent out in May detailing the amount of refund due.

So I called them last week. About 45,000 accounts were affected but 120,000 people swamped them with queries. I was assured that letters would be sent out in next 2 weeks with any payments owed to be paid within 15 days of the letter.

Fingers crossed.
 
Also called them this week to check on this. Letters dealing with amounts to be refunded of less than €250 are being sent this week and letters dealing with amounts higher than that will be sent out next week and week after. They expect the money to then hit your account sometime in July.
 
Hmmm.... just got a letter apologising for the delay. They said that they are still investigating.
 
Yeah, just got it myself. At least I know i'm on the list for a response. Won't count my chickens that it will all be sorted before Christmas.
I was actually very lucky that I got the letter at all, as they misspelt my address, despite having it on numerous records..........
 
If you feel that BoI is taking too long over this issue, drop IFRSA a line. BoI will be expected to give regular updates to IFSRA on how their process for identifying and rectifying 'customer issues' is progressing.
 
can anybody tell me if they have received a payment protection refund on a loan taken out jointly .... or has anybody dealt with the Bank of Ireland regarding payment protection on a loan taken out jointly....... the bank are telling me that the refund belongs to the first named on the account not to both parties...
 
"payment protection on a loan taken out jointly....... the bank are telling me that the refund belongs to the first named on the account not to both parties..."

My understanding of this is that even though the loan was taken out jointly, the Payment Protection Insurance Policy was taken out under one name - this is generally the case. Therefore, any refunds due on the POLICY are due to the insured person.
 
Am fairly miffed about it at this stage.
I took out a big loan, with PPI, paid it off after 28 months rather than 60.
They said I'm not entitled to anything back!

Have been onto to IFSRA about it & about to follow up.

Can anyone tell me if there is a difference between a fixed & variable rate in the way they decide refunds? Mine was variable.
 
re payment protection refunds where loan was joint -if this is a refund of overpayments (not a payout under a policy) then surely the refund should go back to the person or persons who paid the premiums in regardless of who would eventually benefit from the policy
 
My spouse got a refund cheque even though we weren't expecting anything. The amount was a colossal €2.54 !!!! BUt you can be damn sure were gonna cash it
 
I received a refund cheque yesterday too! Had no idea I was due anything! Nice surprise - €1000!!!! Happy days!!!!
 
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