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    • jasper123
    • By jasper123 8th Jan 18, 7:07 PM
    • 12Posts
    • 0Thanks
    PPI Offer - quick sanity check
    • #1
    • 8th Jan 18, 7:07 PM
    PPI Offer - quick sanity check 8th Jan 18 at 7:07 PM

    I've received an offer from RBS for PPI I had on a Natwest card covering Dec 1990 - May 2002.

    The offer was based on PPI premiums covering Aug 2001-May 2002 as that's as far back as their records go. During that period my average monthly PPI was £2.15 (2 out of the 12 months I had a zero balance so no PPI charge) with a sum total for the year of £21.30. They state they have had to estimate the previous years which is fair enough as I don't have any paperwork.

    However, their offer covering the whole period comes to £190.47 which if I take off the £21.30 for the year they did have information this drops down to £169.17 to cover the the previous years which is below £21.30 I did pay.

    Is there a formula for estimation? I'd have thought they would have gone on the PPI information they do have and apply that to the previous years but I guess that is not the case.

    Any advice would be great
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    • Moneyineptitude
    • By Moneyineptitude 8th Jan 18, 7:29 PM
    • 19,782 Posts
    • 10,821 Thanks
    • #2
    • 8th Jan 18, 7:29 PM
    • #2
    • 8th Jan 18, 7:29 PM
    Why would they simply apply the amount you paid in a given year to previous years?

    You might have paid considerably more (or less) in previous years.

    Comparative Redress has been applied to your complaint. That's involves calculation of the average amount you paid over the whole period you had the PPI.

    If you can provide documentary proof that you paid more than they are offering, then you should send this to the Bank. Otherwise...
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