Do I accept the offer from Natwest or take it to the ombudsman?

Jillmoneysaver

I had PPI on my credit card from 2007 until present. It has been 20.99 recently, but I think it may have been 9.99 previously (?). I rang the natwest number and they have offered me £1,377.03.

I am not sure whether I should accept this or if I should send a letter to the Ombudsman? Is there a chance that the Ombudsman would give me less or nothing? Or do I have nothing to lose and they could offer me the same or better?

They've added £3.61 (taxed at 20%) for an 8% interest for it taking longer than 8 weeks.
Refund of premiums paid between may 2007 and july 2011 £846.17
and interest on premiums, based on interest rate charged on card £5.27.97.

Thanks in advance for any help with this.

dunstonh

I am not sure whether I should accept this or if I should send a letter to the Ombudsman?

What reasons would you give to the FOS for your refusal to accept the complaint outcome from Natwest?

Is there a chance that the Ombudsman would give me less or nothing?

Theoretically yes. It doest happen often but it can happen with goodwill payments as you effectively are rejecting their goodwill payment in the hope that the FOS may offer something different.

They've added £3.61 (taxed at 20%) for an 8% interest for it taking longer than 8 weeks.
Refund of premiums paid between may 2007 and july 2011 £846.17
and interest on premiums, based on interest rate charged on card £5.27.97.

So, they have used the correct method. Why do you think you are entitled to more?

Jillmoneysaver

Thank you! I don't assume I'm entitled to more, I just have no idea what I am entitled to and wanted to make sure that I was doing the right thing by accepting their offer Thanks again!

dunstonh

bottom line is refund of premiums plus interest (minus any amounts refunded previously or a claim if one paid out)