PPI refunded onto credit card

Topkapi

This is my first ever post so apologies if this has been answered previously, I posted a claim for refund of PPI from my RBS Credit Card on 17th August and I received an offer from them within two weeks for £800. I was happy with the amount offered so signed and returned the enclosed form. Just been on the internet to check my RBS bank balance and noticed that the £800 has been put onto my credit card to reduce the balance, leaving me with just a small amount to pay to clear it. Is this right or should they have sent me a cheque? As I was under no pressure to clear the card (apart from having the pay interest of course) there are more pressing things I could have paid with the £800. Nothing was said in the offer letter about how I would receive the refund. Any advice would be greatly appreciated.

di3004

Topkapi wrote: »

This is my first ever post so apologies if this has been answered previously, I posted a claim for refund of PPI from my RBS Credit Card on 17th August and I received an offer from them within two weeks for £800. I was happy with the amount offered so signed and returned the enclosed form. Just been on the internet to check my RBS bank balance and noticed that the £800 has been put onto my credit card to reduce the balance, leaving me with just a small amount to pay to clear it. Is this right or should they have sent me a cheque? As I was under no pressure to clear the card (apart from having the pay interest of course) there are more pressing things I could have paid with the £800. Nothing was said in the offer letter about how I would receive the refund. Any advice would be greatly appreciated.

Hi and welcome

Some tend to do this, but did you keep a copy of your letter?
If so check if they stated if they were going to refund this way.

I understand they have done this now, but if your not happy and there were no missed payments/arrears you can write and tell them that you would have preferred to have had the refund directly to you.

So did they admit liability to the mis selling or was it an offer of goodwill?

If an offer of goodwill and not the other then I think they do tend to refund this way, but like any other complaint if your not happy let them know.;)

Well done on your success.:beer:

Topkapi

Thanks for the prompt reply. Will check the letter on my file and keep you up to date.

di3004

Topkapi wrote: »

Thanks for the prompt reply. Will check the letter on my file and keep you up to date.

Hi

Your very welcome.;)

Common_Sense_2

They are allowed to do that.

Topkapi

Made a phone call and found out that if you still have the credit card with PPI on then they do take any refunds off that card. If the card is paid up, cancelled etc then they have to send you the refund by cheque, This only applies to credit cards. If you have a loan and claim back PPI then they should not deduct it off any balance you may still have. Any refunds on loans should be sent direct to you.

dec22

Just a suggestion but are these other items possible payable by credit card? If so, you can still utilise the refund in this way. You just don't want to draw the cash out of your card as the cash advance rates are excessive. I had mine in the same way from RBS and just used my card to pay for one or two things.

Well done on your refund!!

dunstonh

This only applies to credit cards.

It actually applies to many financial services products which have a value.

neilfisk

I have just been reading your posts with some interest and was hoping that someone might answer my question. I have claimed back my PPI from the RBS and they are saying that they will put my refund back onto my card, now I do not have the card anymore as I was sequestrated in june 08 and discharged on june 09, so all my accounts are now settled and closed. Can they do this?
Any help would be great

Thanks

di3004

neilfisk wrote: »

I have just been reading your posts with some interest and was hoping that someone might answer my question. I have claimed back my PPI from the RBS and they are saying that they will put my refund back onto my card, now I do not have the card anymore as I was sequestrated in june 08 and discharged on june 09, so all my accounts are now settled and closed. Can they do this?
Any help would be great

Thanks

Hi there

Well done on your success.:beer:

If the card is settled and no balance and its closed, maybe you should contact them just to let them know this, then request for a cheque payment, good luck.;)

neilfisk

di3004 wrote: »

Hi there

Well done on your success.:beer:

If the card is settled and no balance and its closed, maybe you should contact them just to let them know this, then request for a cheque payment, good luck.;)

Hi, thanks for the reply.

I am abit confused to be honest, because of my bankruptcy, does this affect my claim? The bankruptcy has ended and all my debt has been wiped.

Cheers