KBC Goodwill Cheque

I got €50 for not being properly notified about deposit rate changes Next step is lodging a cheque for the first time in about 10 years!

What exactly was the FSPO ruling? KBC did not use direct channels for deposit rate changes? What does that mean? Postal letters are now mandatory? Or do email notifications of deposit rate changes suffice?

I always thought that publishing deposit rate changes in newspapers was antiquated and most people would miss it. But postal letters seems antiquated too. Maybe mandatory app notifications when you login targeted at effected users are the best approach?
 
WizardDr said:
This arose because of an FSPO case which demonstrates teeth.

[However, the FSPO and the understanding of contract law is suspect but not in this case]

https://www.courts.ie/acc/alfresco/...-b9d04caf961a/2023_IEHC_234.pdf/pdf#view=fitH
Click to expand...

Lightning said:
What exactly was the FSPO ruling?
Click to expand...

@Lightning, does WizardDr's link provide your answer?


The whole thing seems strange and has cost KBC a lot of money. It came so out of the blue also. Will help towards the donation to Gaza all the same so it is appreciated.
 
Sue Ellen said:
@Lightning, does WizardDr's link provide your answer?
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Thanks. There is a lot in the PDF. From a quick read, it seem that KBC failed to directly notify the person (KBC used non-direct means such as their website and newspapers) and did not act in accordance with their own T&C's. Fair play to whomever took KBC on over this. They are 100% right that there should be direct notifications to those effected but direct notifications can take several forms.
 
Hmmmm…..

Interesting.

When a bank issues an overly lengthy worded form of apology (or non-apology, as the case may be), accompanied by a cheque, it usually masks a more fundamental issue.

Or breach.
 
This is wonderful news. I had a regular saver with KBC. It transferred to BOI with their abysmal customer service. I'm away.
Can I expect a present from KBC upon return. Looking forward to it. I miss KBC their phone support was excellent.
 
If one was to complain to the FSPO, I wonder if outcome would be different? The person that brought that case was awarded 1K plus the outstanding interest.
 
TravisT said:
If one was to complain to the FSPO, I wonder if outcome would be different? The person that brought that case was awarded 1K plus the outstanding interest.
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I have read the High Court judgement.

The complainant received a compensation payment of €1,000.00.

Whilst the case made to the Ombudsman by the complainant turned on its own specific facts, and a goodwill payment to affected customers is very welcome, one wonders why a compensation payment of €1,000 to all affected customers wasn’t made. I had thought there would have been a knock-on effect of the Ombudsman’s decision (as confirmed by the High Court) such that all affected customers would receive the same payment. (Not unlike the approach adopted in the AIB tracker matter which saw AIB making payments a few years ago to all affected customers as a result of an Ombudsman decision).

In making this point, it does seem however that the €1,000.00 compensation award was directed in recognition of the fact that the complainant was inconvenienced by KBC in the context of making their complaint and having to make lengthy submissions to the Ombudsman as part of the complaints process. The compensation payment also centred around the reasonableness of KBC’s conduct.

Accordingly, it would seem that any affected customer would probably have to bring a similar complaint to the Ombudsman (and therefore undergo the same inconvenience) in order to put themselves into a position to argue that they should be awarded compensation along the lines set out in the Ombudsman’s decision.
 
Got the cheque for €50, then lost it. Can't find it anywhere. Had to ask for a new one.

Is this taxable?
 
Hello there,

I just registered myself on this forum for this matter.

I acknowledge receipt by post mail KBC BANK Good Will bank cheque 50€. There is a sad part for this as follows.

When I tried to lodge this bank cheque onto another bank account, there is a massive 31€ bank fees deducted from 50€ good will cheque. The bank located outside Ireland in my home country Greece.

I have inquired about this transaction fees but neither KBC nor domestic bank admits such a fee lumpsum. Instead they would say that there must be a third party that imposes such a fee for the transaction to be successful.

Would you have any idea about this?
 
MugsGame said:
It gets better:
Click to expand...
Just cannot understand this as same customer may receive duplicate check 100€ in total, whereas others just 20€ and even worse others none as their account was opened before 2019 as the guidelines explain
 

Any pals in Ireland that can help?

ricta said:
KBC have responded, if the cheques are returned with written instructions, they will re-issue them in the name of a third party.
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https://www.askaboutmoney.com/threads/kbc-goodwill-cheque-cashing-conundrum
 
Johnno75 said:
Hmmmm…..

Interesting.

When a bank issues an overly lengthy worded form of apology (or non-apology, as the case may be), accompanied by a cheque, it usually masks a more fundamental issue.

Or breach.
Click to expand...
Excellent point. The bank somehow has disclosed some important information against the customers who fell victim to such a policy. Thus in order to disguise this matter, it returns some trivial money back to them. There may be an issue of deliberate breach of confidentiality to the expense of customers.
 
Does anyone have kept the Goodwill payment check as a copy?

Otherwise please state if the Goodwill check bears on the top Both KBC Bank AND Bank of Ireland (BOI) since the latter has acquired the former.
 
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