We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
RBS offer for PPI claim
fedupwith
Posts: 4 Newbie
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. . . :j
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. . . :j
0
Comments
-
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. . . :j
Hi there
Normally if its dealt with by the FOS, they do request to be paid this extra 8%.
Unfortunately on some offers the 8% is not always included and especially direct with the company.
Normally though if they admit liability and its not an offer I think they do tend to pay this.
Maybe someone else could clarify on this one.
Maybe its discreetly given, obviously if your not happy with the offer you do have the option of taking this to the FOS, please be aware though hun, it may be some time before its dealt with with the FOS due to the extortionate amount of these complaints, but if your in any financial hardship, you can request for fast tracking where it will be considered.
Either way good luck hunni, fingers crossed and still well done for being successful.:beer:;)The one and only "Dizzy Di"
0 -
I think I will FOS this as it's annoyed me. Thank you for your help. :T0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards