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PPI refunds. The banks have ripped us off again - BBC You & Yours


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The BBC has found that the banks have often been repaying their PPI claimants less than they should have done.

 

We have always encouraged people not only to look at the PPI premiums they have paid over to their bank - but also any charges which were incurred as a result of an overdraft or shortfall caused by those PPI charges.

The banks are fully aware that these sums should also form part of a PPI refund because they are part of their unlawful take.

The FOS has made it clear that this money should be repaid.

 

However it could come as no surprise that in many cases the banks have not being playing fair - or honest and they have failed to hand this money over.

 

Specifically - and not exclusively

Lloyds (No surprises here)

Barclays (could be one of the most dishonest banks in the UK)

Capital One

MBNA

 

even if you received a PPI refund form some other bank, you should double check whether you have received your full entitlement.

 

Listen to BBC You and Yours today - and get back to your bank and get the rest of your money back - plus interest - plus any charges on those charges.

 

Of course, one of these reasons why this has happened is that the banks tend merely to tell claimants what the global refund figure is without giving any breakdown. The FOS, to their shame, have been happy to go along with this.

 

Once again - there is no requirement that the banks should take the initiative. It will be up to you to make your own claim. So much for pro-active regulation.

 

Start claiming again straightaway. It's your money. The banks have been caught with their hands in your pockets once again.

 

Oh, how we laughed.

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Is there a standard form to use for this do you know?

 

There is a complaint form on the Financial Ombudsman's website

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1: How can BCOBS protect you from your Banks unfair treatment

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3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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