Style RBS PPI

[varda]

I recently noticed that I have been paying PPI on my Style Card. I rang them up and advised them I wished to cancel the PPI and be refunded and the amounts paid in respect of PPI as this had been added without my consent. They said they would look into the complaint.

I received a letter from RBS 29/5/09 stating they were unable to confirm precisely what information I was given at the time I purchased the policy. In the circumstances, as a gesture of goodwill and without any admission of liability, the bank is prepared to offer me a full refund of all of the premiums paid to date.

It then goes on to say. Please note that this money will be automatically credited to my card balance. Unless the card is no longer active in which case they will send a cheque.

Has anyone else had any dealings with them I tried searching the site?

Can I insist that the money be paid by cheque to me even if there is a balance on the account?

I have recently had success with a PPI claim from Firstplus just waiting for them to sort out the refund.

[alanalana]

I recently noticed that I have been paying PPI on my Style Card. I rang them up and advised them I wished to cancel the PPI and be refunded and the amounts paid in respect of PPI as this had been added without my consent. They said they would look into the complaint.

I received a letter from RBS 29/5/09 stating they were unable to confirm precisely what information I was given at the time I purchased the policy. In the circumstances, as a gesture of goodwill and without any admission of liability, the bank is prepared to offer me a full refund of all of the premiums paid to date.

It then goes on to say. Please note that this money will be automatically credited to my card balance. Unless the card is no longer active in which case they will send a cheque. (It is irrelevant whether the card is closed or still active the issues of PPI against card or loan are separate and they cannot use any PPI refunds to offset any outstanding balance on the loan)

 

Has anyone else had any dealings with them I tried searching the site?

Can I insist that the money be paid by cheque to me even if there is a balance on the account?

I have recently had success with a PPI claim from Firstplus just waiting for them to sort out the refund.

 

The card and the PPI on the card are two separate issues they cannot insist on making a PPI refund through PPI mis-selling and using it to pay off the balance on the loan.

 

Please see these links for more advice.

 

On the issue of refund you can insist on any repayment of PPI money to be paid to you by personal cheque in your name. They cannot use PPI money to pay off any money still outstanding on the card The card and PPI although maybe shown on one Consumer Credit Agreement actually require two signatures one for the card and one for the PPI. Refunds of mis-sold PPI should include the premiums with the interest and also add on 8% statutory interest from the date the card started until you accept the offer of repayment.

 

See these two threads for further advice on the subject.

 

Multiple agreements falling within section 18 CCA 1974

 

Is My Agreement Enforceable - Useful

 

hope this helps

 

aa

[varda]

I have drafted a reply to RBS Style do you think it is suitable please.

 

Payment Protection Insurance Policy Number **** **** **** **** with Style

I refer to your letter dated 29th May 2009 advising that the Bank are prepared to refund all of the premiums I have paid on the policy to date as a gesture of goodwill, which amount to £98.67.

On the issue of refund I am be prepared to accept your offer of repayment of the PPI premiums paid provided this is along with the interest and includes 8% statutory interest from the date the card started until the date of repayment.

The refund should be paid to me by cheque and should not be used to pay off any money still outstanding on the card.

Failure to comply with my request will result in the matter being referred to the Financial Ombudsman Service for further investigation.

As you are no doubt aware the Financial Ombudsman Service takes this type of complaint very seriously. Your letter states you are unable to confirm precisely what information was given to me at the time of sale of the policy.

I am sure you will agree in view of this they are extremely likely to rule in my favour. In order to avoid wasting the valuable time of the Ombudsman I would suggest that you comply with my request within the next 14 days.

[alanalana]

You just have to send it.

 

Also worth a mention if you submit a complaint to the FOS it will cost RBS a £500 fee which the FOS will charge for the investigation.

[varda]

Thanks Alanalana I have printed off the letter and its ready to go.