Final Offer for PPI from RBS

fedupwith

I have received my offer of compensation for a mis-sold PPI policy from RBS.

It all seems fine apart from the fact that they have not added interest @ 8% simple on my payments. I have been on the FSA website and it quotes:

the addition of interest (normally at the rate of 8% simple per annum) to any excess payments made by the consumer – from the time each payment was made to the point the financial business pays them back to the consumer.

So I called the case handler at RBS and they have said that it is not RBS policy to add interest!! Has anyone else been told the same? Shall I now just go to the Ombudsman?

Many thanks. . . :rolleyes:

Itsmineanyway

fedupwith wrote: »

I have received my offer of compensation for a mis-sold PPI policy from RBS.

It all seems fine apart from the fact that they have not added interest @ 8% simple on my payments. I have been on the FSA website and it quotes:

the addition of interest (normally at the rate of 8% simple per annum) to any excess payments made by the consumer – from the time each payment was made to the point the financial business pays them back to the consumer.

So I called the case handler at RBS and they have said that it is not RBS policy to add interest!! Has anyone else been told the same? Shall I now just go to the Ombudsman?

Many thanks. . . :rolleyes:

You could writeback and say that you want the 8% interest added and you will allow say 14days for their reply before pursuing through Ombudsman. Everyone else pays 8% in addition so why should they be different as rules are rules. Nothing to lose! afterall you got the PPI back so that should give you confidence to go for what you are entitled too. Good luck!