In my opinion, I would write back and confirm I wish to proceed with (a)
Complaints - anyone get a response from AIB yet?
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Brendan Burgess
Founder
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I think that the right thing for people to do is to ask the Ombudsman to put the complaint on hold, as you are going to try to resolve the outstanding issues directly with AIB.
Then you write to AIB and ask for compound interest and, if you think you should get it, additional compensation.
If they refuse, then you ask the Ombudsman to resurrect the Case under a
Then you write to AIB and ask for compound interest and, if you think you should get it, additional compensation.
If they refuse, then you ask the Ombudsman to resurrect the Case under a
Ok thanks alot to ye both for your responses , much appreciated
Keep us updated on any movement's
@tnegun - my own view is that it is a matter that could be rectified if AIB wanted to devote resources to it.
This is the reply from AIB. It is a non reply.
With the refund paid, (apart from the issue of simple interest vs compound interest), the offer of a tracker a "dead duck" and the compensation saga rolling on, is there any news on the interest question?
Thanks
This is the reply from AIB. It is a non reply.
With the refund paid, (apart from the issue of simple interest vs compound interest), the offer of a tracker a "dead duck" and the compensation saga rolling on, is there any news on the interest question?
Thanks
Attachments
Well - I literally just looked up the Code cited by them and the following paragraph states..
d) the regulated entity must attempt to investigate and resolve a complaint within 40 business days of having received the complaint; where the 40 business days have elapsed and the complaint is not resolved, the regulated entity must inform the complainant of the anticipated timeframe within which the regulated entity hopes to resolve the complaint and must inform the consumer that they can refer the matter to the relevant Ombudsman, and must provide the consumer with the contact details of such Ombudsman; and...
I will be responding to the letter I received, citing this paragraph, and any other that lends weight to my request for a resolution.
Ok. Interesting. Unfortunately that means there is no absolute deadline for them and they can basically string people along indefinitely.
So basically it may be that the only option is to get into the ombudsman direct to resolve.
@Shay75 - How long has your request been outstanding? I sent mine in the beginning of 2021 - so not too long ago. But if others sent theirs in months ago then it doesn’t bode well generally.
I’d be curious if anyone at all has gotten a reply that attempted to actually resolve their query ?
So basically it may be that the only option is to get into the ombudsman direct to resolve.
@Shay75 - How long has your request been outstanding? I sent mine in the beginning of 2021 - so not too long ago. But if others sent theirs in months ago then it doesn’t bode well generally.
I’d be curious if anyone at all has gotten a reply that attempted to actually resolve their query ?
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David_Dublin
Registered User
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I sent mine in August, monthly replies.
Letter going out today (for what it is worth) with the following
I refer to the above matter and firstly thank you for your most recent letter.
Again, I note that you are still looking into the issue I raised and accept that you cannot provide me with a resolution at this time.
However, I note that you have undertaken to comply with the Consumer Protection Code 2012 and section d) of that code states;
“the regulated entity must attempt to investigate and resolve a complaint within 40 business days of having received the complaint; where the 40 business days have elapsed and the complaint is not resolved, the regulated entity must inform the complainant of the anticipated timeframe within which the regulated entity hopes to resolve the complaint (emphasis added) and must inform the consumer that they can refer the matter to the relevant Ombudsman, and must provide the consumer with the contact details of such Ombudsman; and...”
I look forward to hearing from you in compliance with the above section at your earliest convenience.
I am sure you will appreciate the issue of the tracker mortgage has been ongoing for over 10 years now. AIB have been aware of the issues for some considerable amount of time and therefore we see no reason why this matter cannot be resolved reasonably and promptly.
In that regard, we look forward to hearing from you.
I refer to the above matter and firstly thank you for your most recent letter.
Again, I note that you are still looking into the issue I raised and accept that you cannot provide me with a resolution at this time.
However, I note that you have undertaken to comply with the Consumer Protection Code 2012 and section d) of that code states;
“the regulated entity must attempt to investigate and resolve a complaint within 40 business days of having received the complaint; where the 40 business days have elapsed and the complaint is not resolved, the regulated entity must inform the complainant of the anticipated timeframe within which the regulated entity hopes to resolve the complaint (emphasis added) and must inform the consumer that they can refer the matter to the relevant Ombudsman, and must provide the consumer with the contact details of such Ombudsman; and...”
I look forward to hearing from you in compliance with the above section at your earliest convenience.
I am sure you will appreciate the issue of the tracker mortgage has been ongoing for over 10 years now. AIB have been aware of the issues for some considerable amount of time and therefore we see no reason why this matter cannot be resolved reasonably and promptly.
In that regard, we look forward to hearing from you.
If I remember properly the FSPO accepted AIBs interpretation of his ruling in Karen's instance and closed the file. My understanding is that if someone has a complaint open with the FSPO regarding the same they can seek to have the simple vs compound calculation clarified. I think Brendan didn't get that opportunity as the file was closed without the option to reply/question it.
Squirrelstown
Registered User
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this thread seems to be moving into ...
AIB rejects my complaint about simple interest, should I complain to the Financial Ombudsman?
Hi all, we received a response to our complaint on the 3rd of March. After receiving yet another holding letter I rang the number provided. I was getting the same story over and over about not being able to give a time frame in which our complaint would be looked. I argued that they were not complying with their letter and after some persistence they said they would get my case officer to look at our particular complaint.
Alas they dismissed our complaint and they now consider it complete. The payment we received is to be considered as total compensation. The letter is four pages long and to be truthful, it is quite confusing.
They are saying that we were not offered a tracker rate because it had been withdrawn before we could avail of it. They also tgem ho one yo say that if we did avail of the tracker rate the interest would have been higher than what we were paying at the time.
They have given us the option to refer our complaint yo the FSPO. Has anyone done this or can you offer any advice about going down this route? Thank you.
Alas they dismissed our complaint and they now consider it complete. The payment we received is to be considered as total compensation. The letter is four pages long and to be truthful, it is quite confusing.
They are saying that we were not offered a tracker rate because it had been withdrawn before we could avail of it. They also tgem ho one yo say that if we did avail of the tracker rate the interest would have been higher than what we were paying at the time.
They have given us the option to refer our complaint yo the FSPO. Has anyone done this or can you offer any advice about going down this route? Thank you.
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I got this reply to my letter requesting that they comply with Consumer Protection Code 2012, section d).
It is another generic holding letter.
It seems clear to me that this is by design a frustration tactic. I for one do not believe that they are interested in resolving issues certainly with me or anyone else here that I know of.
If their excuse for the delay is that there are a substantial number of complaints, then they should apply the resources required to expedite the process. If the will is there, they can resolve this promptly.
It looks like I will be making a complaint, about their handling of a different complaint.
It is another generic holding letter.
It seems clear to me that this is by design a frustration tactic. I for one do not believe that they are interested in resolving issues certainly with me or anyone else here that I know of.
If their excuse for the delay is that there are a substantial number of complaints, then they should apply the resources required to expedite the process. If the will is there, they can resolve this promptly.
It looks like I will be making a complaint, about their handling of a different complaint.
