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    • AndyJepp
    • By AndyJepp 12th Sep 17, 9:15 AM
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    AndyJepp
    Santander PPI
    • #1
    • 12th Sep 17, 9:15 AM
    Santander PPI 12th Sep 17 at 9:15 AM
    Question about Santander PPI - About 6 weeks ago I received a letter from Santander to say that a few years ago I had a loan with them and that I may be eligible for PPI. They provided a form to complete and return. I hadn't previously claimed and to be honest I had forgotten about this account. I would never have agreed to PPI for any loan and so I completed the document and returned it. I received an acknowledgement and then approximately 2 weeks later I was asked for some clarification. Last week (Dated 31st August) I received an update letter to advise that they were still investigating and I would hear from them further before the 8 week deadline. Yesterday 11th Sept we were checking our bank account and found a credit to our account from Santander of £100.59. No letter has yet been received from the PPI Claim department so the assumption we are making is that they have made their decision and this is what they will payout. Is this a correct process? I thought we would get a letter advising of their decision and either an offer would be made or not which we could either accept or reject. I may be a little premature but would appreciate any thoughts anyone has about how this is being dealt with until I get a letter from them soon explaining the situation.....Thanks.
Page 1
    • zx81
    • By zx81 12th Sep 17, 9:19 AM
    • 13,189 Posts
    • 13,504 Thanks
    zx81
    • #2
    • 12th Sep 17, 9:19 AM
    • #2
    • 12th Sep 17, 9:19 AM
    A letter is likely to follow.

    You can reject the refund if you want and return the money to them, but that would seem foolish.
    • Moneyineptitude
    • By Moneyineptitude 12th Sep 17, 11:30 AM
    • 19,300 Posts
    • 9,399 Thanks
    Moneyineptitude
    • #3
    • 12th Sep 17, 11:30 AM
    • #3
    • 12th Sep 17, 11:30 AM
    a letter from Santander to say that a few years ago I had a loan with them and that I may be eligible for PPI.
    Originally posted by AndyJepp
    No one is "eligible for PPI", but if it was mis-sold to you then you are entitled to a refund.
    Yesterday 11th Sept we were checking our bank account and found a credit to our account from Santander of £100.59. No letter has yet been received from the PPI Claim department so the assumption we are making is that they have made their decision and this is what they will payout. Is this a correct process?
    Originally posted by AndyJepp
    Some banks do credit the account of successful complainants at the same time as they send offer letters. Obviously, the letters arrive long after the money reaches the account.

    You are under no obligation to accept this money and you can of course query the amount. However, if you think that by not accepting the money, you can somehow barter for more then you are mistaken. PPI redress is defined as a full refund of PPI paid, plus 8% interest. It looks as if you only paid a tiny amount of PPI probably before cancelling it early in the life of the loan.

    The letter you receive will provide a breakdown of the redress.
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