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    • another casualty
    • By another casualty 7th Dec 17, 2:39 PM
    • 3,121Posts
    • 4,955Thanks
    another casualty
    Mbna Plevin payment . Slight confusion
    • #1
    • 7th Dec 17, 2:39 PM
    Mbna Plevin payment . Slight confusion 7th Dec 17 at 2:39 PM
    Howdy !

    Iíve just received a letter from Mbna regarding the above .
    Sorry to sound so stupid , but the wording has confused me somewhat . In short theyíve refunded me some money ( I think )
    The column says : amount of applicable commission and profit share
    £472.19
    Total amount of fees refunded £0.00
    Amount of historic interest £ 107.00
    Applicable 8% gross interest £ 651.56*
    Less uk withholding tax - £ 130.31 *

    Uk withholding tax of £130.31 has been deducted from the 8% gross interest amount . You may need to inform Hmrc of ,his amount .

    So, have I been awarded nothing , or £472.19 ?

    I am unemployed and have not signed on . However I did get £727.00 rebate from Hmrc as I paid too much in tax year when I quit my last employers .

    Please advise

    Thanks
Page 1
    • -taff
    • By -taff 7th Dec 17, 2:45 PM
    • 7,161 Posts
    • 5,159 Thanks
    -taff
    • #2
    • 7th Dec 17, 2:45 PM
    • #2
    • 7th Dec 17, 2:45 PM
    472 plus 107 plus 651.66 minus 130.31
    • Moneyineptitude
    • By Moneyineptitude 7th Dec 17, 2:45 PM
    • 18,896 Posts
    • 10,119 Thanks
    Moneyineptitude
    • #3
    • 7th Dec 17, 2:45 PM
    • #3
    • 7th Dec 17, 2:45 PM
    So, have I been awarded nothing , or £472.19 ?
    Originally posted by another casualty
    Neither! You receive far more!
    If you continue to be a non-taxpayer (due to being unemployed) you will be able to get a refund of the tax from HMRC. Otherwise, just as it says, you are due ALL the totals shown minus the tax.
    • another casualty
    • By another casualty 7th Dec 17, 2:55 PM
    • 3,121 Posts
    • 4,955 Thanks
    another casualty
    • #4
    • 7th Dec 17, 2:55 PM
    • #4
    • 7th Dec 17, 2:55 PM
    Thanks for the speedy help and bearers of good news
    So I should expect £1,100.44 after tax ??
    • another casualty
    • By another casualty 7th Dec 17, 3:04 PM
    • 3,121 Posts
    • 4,955 Thanks
    another casualty
    • #5
    • 7th Dec 17, 3:04 PM
    • #5
    • 7th Dec 17, 3:04 PM
    Neither! You receive far more!
    If you continue to be a non-taxpayer (due to being unemployed) you will be able to get a refund of the tax from HMRC. Otherwise, just as it says, you are due ALL the totals shown minus the tax.
    Originally posted by Moneyineptitude
    Just re read this . Thanks again
    • Lemmons46
    • By Lemmons46 7th Dec 17, 5:42 PM
    • 4 Posts
    • 1 Thanks
    Lemmons46
    • #6
    • 7th Dec 17, 5:42 PM
    Well Done!
    • #6
    • 7th Dec 17, 5:42 PM
    Fantastic new for you another Casualty! Well done:
    Iím still waiting for my Plevin decision from MBNA but am due a reply in next couple of weeks. I am just interested to know what your average balance was in this card and which years it relates to. It looks as though they have added 14 years simple interest so I am guessing this was from about 2004? Mine was from 1999 to 2004 which had a very high balance of £10k plus for ages due to going through a divorce and waiting for settlement. I would like to compare what I am likely to get refunded is all. But well done you as this level of commission clawed by the banks was unacceptable, even in that era!
    • Moneyineptitude
    • By Moneyineptitude 7th Dec 17, 6:24 PM
    • 18,896 Posts
    • 10,119 Thanks
    Moneyineptitude
    • #7
    • 7th Dec 17, 6:24 PM
    • #7
    • 7th Dec 17, 6:24 PM
    Plevin is based on Commission paid at the outset, not your "average balance"..
    • another casualty
    • By another casualty 7th Dec 17, 6:45 PM
    • 3,121 Posts
    • 4,955 Thanks
    another casualty
    • #8
    • 7th Dec 17, 6:45 PM
    • #8
    • 7th Dec 17, 6:45 PM
    Fantastic new for you another Casualty! Well done:
    I’m still waiting for my Plevin decision from MBNA but am due a reply in next couple of weeks. I am just interested to know what your average balance was in this card and which years it relates to. It looks as though they have added 14 years simple interest so I am guessing this was from about 2004? Mine was from 1999 to 2004 which had a very high balance of £10k plus for ages due to going through a divorce and waiting for settlement. I would like to compare what I am likely to get refunded is all. But well done you as this level of commission clawed by the banks was unacceptable, even in that era!
    Originally posted by Lemmons46
    Thanks lemmons
    Hope you are getting your life together now .
    It was the first credit card I ever took out in 1988 . I remember cutting the application out of a magazine and then filling in the forms soon after . When I did this , I ticked the box for protection .
    About 4 years ago , I went to see if I was eligible for ppi.via a third party who were next to useless. That got declined .
    I transferred it to the mint card back in the year 2000i think
    I think it was less than two weeks that I applied for this plevin and tbh am very impressed with the speed of the good news I have just received . My balance those days got up to around £8,500 back in 1997 when I was withdrawing cash from the wholes in the wall
    when things were tough . Lesson learned etc. Now

    As I say, I found the jargon confusing and expected nothing..or next to that .

    Payment is within 28 days of the letter which was dated 5/12.
    Reasons to be cheerful .
    Just gotta find out the score from Hmrc and how to claim the tax back , as I’m not working and cannot see myself working till about Easter
    Last edited by another casualty; 07-12-2017 at 7:20 PM.
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