M&S Money - PPI

Yasminakash

Now i am getting really fed up of these results. I have just re'd a reply from M&S Money regarding the PPI. They said whils they do not accept the allegations I have set out on this occasion, without any admission of liability and as a gesture of goodwill,they are prepared to offer me an ex gratia payment. Which is about £800 odd inclusinve of £208 interests. I am so annoyed as i looked at the statement, i have paid abt £25..If you calculate this amount for a year, that will be £300. I've been owning this card for more than 10 years now, so how much i would've paid up to now??? They failed to state the period this amount covering. What shall i do? Any advice please?

Consumerist

If M&S sold, or mis-sold, you the PPI then they are responsible for making sure you understood what you were buying and that it was suitable for your needs. If M&S has rejected your claim, and you consider the rejection to be unreasonable, then you have no other option but to refer the claim to the FOS.

Consumerist

M&S should provide you with a break-down of how they have calculated the compensation (ex gratia payment). You could ask them for this break-down.