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RBS PPI Offer What next ??
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# 1
Ninjaboy
Old 22-02-2012, 10:07 PM
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Wink RBS PPI Offer What next ??

Hi Everyone

I'm another newbee to this wonderful site.

After reading many of the you experiences (good & bad) I decided to get "in about" reclaiming PPI from the RBS.

Made one phone call to the Manchester RBS PPI Customer Concerns Team (08000150319), spoke to a really nice guy on the other end and explained my concerns about PPI. Gave him account number; he said I would get a letter in a couple of week with a PPI reference No. Thirteen (YES 13) days later I recieved 7 offers relating to different accounts I was not aware of. Signed them all and sent them back "tracked" through Royal Mail.
These accounts relate to a period roughly 2000 - 2009
Wwwoooooowwww 8258 PPI refund PLUS 2748.06 int.
11006.39
There is still money outstanding (17352.08) against this account brought about due to a self-employment period failing. This outstanding decreasing balance is in the hands of a collection agency. Will the total 8777.25 go towards the outstanding or just the PPI refund and the interest to me ?

Anyone been in this position and had a result ?
Any advice ?

Last edited by Ninjaboy; 22-02-2012 at 10:17 PM.
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# 2
socks_uk
Old 23-02-2012, 6:23 AM
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In my husband's RBS offer letter it said that the money would go into his current account if he still has one (which he does) or paid by cheque. There was nothing to say that it would be paid into his loan account.
Did you wonder where the photo was taken?
Somewhere above the clouds over Germany on the way back from Prague August 2009!
Hand typed by me!
-x-
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# 3
Ninjaboy
Old 23-02-2012, 9:19 AM
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Question

Thanks Socks

Was your husband in the same bracket of cicumstances ? Collection agency, outstanding balance etc ?
Did phone the RBS PPI team but they came accross fairly unsure about what will happen.

Many thanks
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# 4
amersall
Old 23-02-2012, 1:22 PM
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Usually if you have arrears they can use the redress to come off the debt,if this is still within RBS collections,if they have sold the debt on,you get this refund back.
It is possible you will get the redress back to you,they will let you know in writing what they are doing.

If they take redress off the arrears,you will get the 8% back to you,this 8% is taxable and you will need to contact HMRC to find out how you pay this tax,unless RBS give you the 8% less tax,then you do not have to do anything.


Last edited by amersall; 23-02-2012 at 6:45 PM.
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# 5
socks_uk
Old 23-02-2012, 3:59 PM
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Quote:
Originally Posted by Ninjaboy View Post
Thanks Socks

Was your husband in the same bracket of cicumstances ? Collection agency, outstanding balance etc ?
Did phone the RBS PPI team but they came accross fairly unsure about what will happen.

Many thanks
He still has about 2000 left to pay on his loan which he would like to pay off as soon as he can. I'm not sure what you mean by collection agency though... he pays the loan monthly out of bank account.
Did you wonder where the photo was taken?
Somewhere above the clouds over Germany on the way back from Prague August 2009!
Hand typed by me!
-x-
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# 6
socks_uk
Old 24-02-2012, 1:42 PM
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Just to confirm, my husband has had the first of his RBS PPI refunds paid into his bank account today (1100).
Did you wonder where the photo was taken?
Somewhere above the clouds over Germany on the way back from Prague August 2009!
Hand typed by me!
-x-
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# 7
sturty999
Old 18-05-2012, 11:38 AM
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Hi, just wondering how long it was from posting back your acceptance letters to the money being paid into your husbands RBS account? I posted my acceptance letter back on Monday, I know they quote 28 days to make payment but didn't know how long others have waited for payment.

Cheers,

Andy
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# 8
Cupcake 63
Old 20-05-2012, 12:38 PM
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Quote:
Originally Posted by sturty999 View Post
Hi, just wondering how long it was from posting back your acceptance letters to the money being paid into your husbands RBS account? I posted my acceptance letter back on Monday, I know they quote 28 days to make payment but didn't know how long others have waited for payment.

Cheers,

Andy
I sent my acceptance back to RBS on 1st May 2012 and received a text message on 8th May 2012 saying they had received the acceptance and, in their words, "Thank you for returning your acceptance form. We typically expect to make payment within 28 working days of receipt". I haven't received my settlement yet! So lets hope its not too much longer.
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# 9
sturty999
Old 21-05-2012, 9:32 AM
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Spoke to RBS this morning, they say that they recieved my signed form on 17th May and that they expect to make payment within 28 working days, although they say they are processing them quite quickly at the moment! Let me know Cupcake when you receive your payment? Will be interesting to see how long it takes!
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# 10
Cupcake 63
Old 21-05-2012, 11:18 AM
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Well done Sturty999, that sounds positive. Fingers crossed they get their act together and settle up very soon. Will keep you posted. Good luck with yours too.
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# 11
Cupcake 63
Old 22-05-2012, 11:27 AM
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Just received a text this morning from RBS Group saying "We are pleased to advise your PPI case has been paid and should reach you within the next 7 days. Written confirmation will follow in due course". That makes it well within the 28 working days from receipt of my acceptance.
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# 12
sturty999
Old 24-05-2012, 11:30 AM
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Had the text from RBS this morning saying that payment would be received within 7 days, checked my RBS account and the full amount was already there!!! Less than a week from returning my signed acceptance form, well done RBS, seems that they have got their finger out and sorting payments quite quickly.
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# 13
Cupcake 63
Old 25-05-2012, 7:19 PM
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Thats brilliant, I got my text on Tuesday, but still no payment yet! Well done you, lets hope mine comes soon.
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# 14
November08
Old 28-05-2012, 12:46 PM
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Please can you advise me? I have been offered a “good will payment” from RBS for PPI on a Mint Credit Card but they want to take the amount off the outstanding balance and not send me a cheque for the amount. Do I have to accept this or am I entitled to the cash?

I am not in arrears with the credit card and as I didn’t ask for the policy I didn’t sign to say I agreed to terms and conditions of refunds so If I would like my cash am I not entitled to Cash???

Best wishes
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# 15
Cupcake 63
Old 29-05-2012, 8:33 AM
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I'm not an expert, but if you don't have a balance on your credit card then they should give you the cash back. If I were you I would ring them and tell them this.

Someone else who also had a Mint Credit Card told me that they put their PPI refund on her credit card but she said the FOS corrected them and said that their method of refund was not acceptable and in the end after complaining, she received a cheque from them.

So give them a ring a state you don't agree with this method of payment.

Good luck.
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# 16
November08
Old 29-05-2012, 11:15 AM
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I do have a balance but am up to date with my payments.
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# 17
Cityboydal
Old 29-05-2012, 11:29 AM
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I'd tell them that you require a cheque and see what they say. If you aren't in arrears then what is their problem, they will make more money back on the interest on the remaining balance with them than if they reduce it.
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# 18
Cupcake 63
Old 29-05-2012, 1:42 PM
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Thats a very good point, but I think they usually offset it against the debt even if you make regular payments to the credit card. Its certainly worth trying to ask them to send a cheque as your preferred method of payment. Good luck.
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# 19
November08
Old 31-05-2012, 7:58 AM
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Sent my reply to RBS saying accept providing they give me a cheque as I have never signed to say I agree to their refund policy because I never signed to say I wanted the PPI cover in the 1st place. So just waiting to see what their reply will be????? fingers crossed!
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# 20
teddy161
Old 04-06-2012, 12:32 PM
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Hi I have recieved an offer from RBS returned my acceptance form on 27th May. Spoke to one of the customer service staff they have told me a cheque for the full amount has been requested and I should recieve this by mid July!!!! apparantly due to the bank holidays?? wow how long does it take to sign a cheque. How long is the process supposed to take when they quote 8 weeks?? one else finding this problem?
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