Ppi payout offer but hsbc won't accept liability!

Jayasmum

Hi

I have recently been in contact with HSBC in order to dispute and reclaim my PPI funds on a loan and a credit card as I wasn't even aware that I had PPI on either of them!

I received a response from HSBC regarding the loan and they advised that they will pay me back the money that I have lost via PPI on that loan as a goodwill gesture but that they do not accept liability.

At first I thought I should just take the money however, I started to wonder if by accepting the money they can then reject the other application I have sent them for my credit card based on the fact that I didn't dispute the liability issue.

Can I still contact the Ombudsman simply for not being satisfied with them not accepting liability and if so, should I?

Any help/ feedback would be much appreciated.

Thanks

magpiecottage

If the redress has been calculated according to the FSA guidance then just accept it. The bank may be giving you the benefit of the doubt.

The Financial Ombudsman Service will not award any more and it is possible that the bank may find it was not missold after all - in which case it is entitled to withdraw the offer.

dunstonh

they advised that they will pay me back the money that I have lost via PPI on that loan as a goodwill gesture but that they do not accept liability.

That means that you have provided nothing to indicate it being a mis-sale and they can find nothing to indicate it is a mis-sale. However, they are refunding as a gesture of goodwill (usually where cases are unproven either way)

Can I still contact the Ombudsman simply for not being satisfied with them not accepting liability and if so, should I?

Cant see the point if the standard redress method was used (refund of premiums plus interest). FOS wont award more than that. You just waist 3-18 months waiting for the FOS to make a decision and as it is a goodwill gesture, they may withdraw it.