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MSE News: PPI mis-selling to cost Santander £540 million

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MSE News: PPI mis-selling to cost Santander £540 million

edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
9 replies 4K views
Former_MSE_HelenFormer_MSE_Helen
2.4K posts
edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
This is the discussion thread for the following MSE News Story:

"Santander is the latest bank to reveal the amount it'll set aside to cover the cost of mis-sold debt insurance ..."

Replies

  • R6NickR6Nick Forumite
    22 posts
    Does this mean it'll be easy to claim against them?

    Just about to start a claim and was going to send the questionnaire form here along with a letter and copies of statements, is that the best way?

    Thanks

    Nick
  • Riggsy1367Riggsy1367 Forumite
    170 posts
    R6Nick wrote: »
    Does this mean it'll be easy to claim against them?

    Just about to start a claim and was going to send the questionnaire form here along with a letter and copies of statements, is that the best way?

    Thanks



    If you believe you were mis-sold PPI then by all means complete the questionnaire and send it off.

    I don't think it means it'll be any easier to get your money back, just that this is the amount that they expect to pay out to successful claimants.

    Good luck
    ;)
    :beer:
  • has anyone successfully claimed a PPI refund from Santander, I've yet to find anybody?
    MBNA Upheld £20,663.63 2/11/11, cheque recieved 25/11/11 :j
    Capital One Upheld 11/11/11 £2793.21 cheque recieved 2/12/11 :j
    Santander rejected by them 11/11/11, counter rejected by me 17/11/11. x2 letters advising they need another 4 weeks and then another rejection:rotfl:
  • dunstonhdunstonh Forumite
    102.8K posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭✭✭
    has anyone successfully claimed a PPI refund from Santander, I've yet to find anybody?

    The board shows lots of people have.

    However, Santander are not auto-upholding like some of the others. They appear to be looking at each case on it's merits. This generally means that real complaints get paid out but opportunistic and try-it-ons are less likely to get lucky. (unlike say Halifax who are auto upholding all complaints about insurance sales whether there is a case or not)
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • I'm struggling with them, they have sent me a copy of my original application (2004) with all the boxes crossed out and I requested a copy of a supposed telemarketing conversation but they say they don't have a copy, I know I didn't agree to it! But they're refusing payout. I know they've just added it to my account. It's only a few hundred quid but it's the principal with this one. Think I'll have to admit defeat and Fos it
    MBNA Upheld £20,663.63 2/11/11, cheque recieved 25/11/11 :j
    Capital One Upheld 11/11/11 £2793.21 cheque recieved 2/12/11 :j
    Santander rejected by them 11/11/11, counter rejected by me 17/11/11. x2 letters advising they need another 4 weeks and then another rejection:rotfl:
  • has anyone successfully claimed a PPI refund from Santander, I've yet to find anybody?

    Hi I got an offer last week from Santander but it was for £2000 less than I had paid in ppi so am going to reject it, does anyone know if I reject can they refuse to pay anything at all
  • dunstonhdunstonh Forumite
    102.8K posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭✭✭
    Hi I got an offer last week from Santander but it was for £2000 less than I had paid in ppi so am going to reject it, does anyone know if I reject can they refuse to pay anything at all

    Theoretically, if it is a goodwill payment, they can withdraw it or reduce it if you go to the FOS. The FOS may not rule in your favour and you could get nothing or they may rule against the bank and you get the same or more. If it is an upheld complaint and it is the amount being disputed then they cannot withdraw it.

    You tend to find that smaller goodwill amounts dont get withdrawn but you need ot be careful.

    The redress method is defined. It is refund of premiums plus interest. So, rather than going to the FOS, why not provide them your evidence to show it is higher than that?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Hi I got an offer last week from Santander but it was for £2000 less than I had paid in ppi so am going to reject it, does anyone know if I reject can they refuse to pay anything at all

    Thanks, It was an offer they said was the full amount I had paid in
    ppi plus interest but it amounts to just under 5 years of ppi whereas I paid it for 8 years
  • I feel that I am being given the complete run around unnecessarily by Santander Bank. Banks have committed to repay PPI with interest but Santander is using every trick in the book to delay matters in the hope that complainant gives up and goes away. This is not a responsible attitude from a bank that has been given increasing responsibility by the government to take over other banks in the UK - latterly RBS outside of Scotland.
    I made the complaint at the beginning of January and was told very clearly that it would take only 8 weeks as Santander was turning around complaints more efficiently than other banks - that's what was committed to me at the outset.

    I was told that during this initial 8 week period, Santander was attending to its archives to verify what PPI had been paid to it via Abbey National which was taken over by Santander. However, it appears, nothing was actually done in this initial period by the Bank to progress the complaint.

    Now, we are told one Pound needed to be paid to access the archives - we paid this too in order to try and get some satisfaction.

    Every time to call to chase the matter, it takes easily an hour to get through to the specific complaints department and even then we we stone walled and given endless excuses that the matter is in the hands of other departments who do not take calls from the public.

    I have had other claims of PPI and these have been repaid by responsible banks. However, Santander is simply playing games with the public and abusing the trust and responsibility placed in it by the government and the tax payer.
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