RBS Offer on ppi mint card - is this correct ?

[rs500man]

sorry still new to this ppi stuff? is this offer right? i have scanned in the details as pdf.

rbsoffer.pdf

[dx100uk]

got as much idea as you

if we've got no statements to look at.

 

 

dx

[rs500man]

Asking them for calcs in am. Else sar them as well. Had to mess about enough to get to this stage with rbs. Thanks as always

[dx100uk]

should have gotten as sar running before you even asked them to refund

as without statements

you wont have a clue..

[martin2006]

You will need all the statements to see hiw much in ppi you have paid, then you will know if their calc is correct or not.

 

Do you have all the statements?

 

If not, SAR them now, dont forget £10 postal order

[rs500man]

Yeah in hindsight I should have sar'd all of them first. Live and learn. Will be sar all of them now. Not signed any acceptance letters etc. Barclsys just paid me very quick.

[martin2006]

Not like barclays that, usually the slowest to pay up

[rs500man]

They paid within 9 days of me logging complaint. I was very surprised. Still sar'd them to make sure they done maths

[martin2006]

Good stuff, always best to double check everything

[rs500man]

Yeah should be here by 26sep if barclays still on form.

 

Sent rbs one off today as well .

 

Will be sending mbna theirs tomorrow as well.

 

And the one that's really been bad to me even tho I been with them 30 odd years HSBC.

 

Will look at past loan ppi they repaid few years ago and current claims for credit card ppi and packaged account.

 

Sar'd them as well. Will be making a donation soon as possible. Wish I discovered cag before I made the claims.

[rs500man]

hi guys, finally got the statements from rbs whats the next steps in working out if i have ben paid the correct amount?

[dx100uk]

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

 

 

ideally you should be using the fosrunning sheet

 

 

but if you find that too difficult

use the FOSCISHEET.

 

 

dx

[rs500man]

thanks for the fast reply, let me see if i can work this out. just about to start entering the data

[rs500man]

right according to calc, 62.16 is the award calculation. i only had this card for 10 months. now .

[dx100uk]

so how did you get that which sheet and what was your claim to date

and did you put their interest rate in the cell d15 depending upon the sheet used.

[rs500man]

how is the 8% gross intrest worked out from the award ?.

 

 

if you look at the scanned offer letter,

the calc seems correct but how should the intrest be worked out.

 

£61.60 was the cost of the PPi and according to spreadsheet £0.41p was added as 8% simple intrest. bringing total award to£62.16.

 

FosRunning sheet

intrest rate on card was 0%

nowhere on date i can see where to enter claim to date

 

i have attached a gif

[dx100uk]

ah your issue is there is no interest rate - as it was free?

even to today or when it closed?

so the card never had any interest charged?

 

 

are the figures in montly and card balance correct each month too

 

 

dx

[rs500man]

there was no intrest ever charged on the account

all the figs are correct aswell in monthly and card balance and correespond with statements.

 

if you look at the offer letter, the TOTAL REFUND DUE matches with the calcs i worked out at £61.60

 

what i am asking is the 8% simple intrest awarded correct as per the offer letter (£58.63 gross) ?

[dx100uk]

ok the fact of their being no interest makes things different.

 

 

so to check the 8% is correct

 

 

use the statint sheet

 

 

enter the £61.60 as a whole figure into it at the date after the last time it was charged.

so that's 27/9/2004 PPI redress £61.60

 

 

that will calc the statutory 8% interest you are due

[rs500man]

i get the following error

 

[dx100uk]

date format is wrong

 

 

make sure you PC is set to UK

 

 

and make sure MS office language is UK too

you are set to US

[rs500man]

Looks like RBS have been honest. the calc works out bang on/

 

got me mbna sar aswell, will report that on the mbna thread i have started. excel was set to usa.

[dx100uk]

hey that's good

sorry I made you hoop jump

but cag is all about what people read on threads

and that explains it nicely

 

 

dx

[rs500man]

no its good to be made to do it yourself , i will check others now. it is how i make people learn myself