Thread: RBS PPi claim rejected - but received a goodwill gesture - Advice please!

Hello jessie,

Hi, I have put in a claim with my bank regarding the miss selling of the PPI. I have recieved a lengthy letter from them today saying that they have reviewed the claim, basically saying that I signed the agreement and application forms, they say that I was sent the loan protector certificate (which I can not ever remember seeing) They have checked the member of staffs RECOLLECTIONS who says that they would have followed the banks process blah blah blah.... They should be able to prove this statement by producing a customer duty of care questionnaire showing that the proper procedure was followed, all relevent questions asked and all information fully explained to you at the point of sale. That the poilicy was sold on a "non advice basis" The upshot of it all is that they are turning down my claim BUT as a gesture of goodwill they have offered me £750 without any admission of liability!!! RBS are using the goodwill gesture without any admission of liabilty to keep the Financial Services Authority from slapping a hefty fine on them. If they were to admit liability for mis-selling or proof was in abundance of mis-selling, the FSA would probably take some action.

Now what do you think? The full insurance premium was £1263 added on at the beginning of the loan and the monthly payments are £25.95, this was taken out in 9/2004. Just wanted to know your thoughts. If you are still paying the monthly £25.95 I believe that would up to this month make 56 payments multiply those and I get £1453.20. They are offering about 50%.

Also I still owe on the loan account would they simply pay the £750 towards that account or as it was an front loaded premium would they have to repay direct to me? Not able to give a 100% answer here as some are being refunded into bank accounts, some by personal cheque and some by have the money deducted from the balance of the loan.

Have you sent a Subject access request?

On what grounds are you claiming mis-selling other than single premium?

Please have a look at these links which may help.

For claims before 2005 and the FSA ruling from which campaign
How to tell if you’ve been mis-sold PPI

Quick check: were you mis-sold? - How to tell if you’ve been mis-sold PPI

Another Useful article on Single Premium PPI and why the FSA say it was unfair.
Payment protection insurance (PPI) – Refunds of single premiums : FSA Money made clear – Unfair contracts


THIS LINK IS IMPORTANT TO YOU ON RECLAIMING IT IS FROM 2001 FROM THE fos
loan payment protection insurance and a quote from this link...

When determining whether a policy is suitable, a seller – whether a lender or an agent for the insurer – must obviously take into consideration any information the prospective policyholder volunteers. However, we do not consider the seller’s duty is limited simply to recording what the borrower discloses. It is only by asking questions that the seller can properly determine suitability. These questions cannot cover every aspect of a borrower’s personal position and should not be expected to do so. To paraphrase the ABI Statement, only those matters deemed to be relevant by the insurer should be the subject of questions.

The above links and much more on PPI in here:..............links

Hope this helps you IMO you are being short changed but the decision to refuse and complain to the FOS, or accept their offer is yours.

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