Is there a timeline when Banks repay successful claims?

Nefetiti

I received a letter from LloydsTSB on the 20th of January that my claims were successful and that the money would be paid into my account as quickly as possible. I was prepared to wait for up to maybe 30 days, then read on the forum of other members who received the same response from LloydsTSB a couple of weeks before mine and had received their compensation, it had been paid into their accounts in the same week.
I called this morning to find out if there's a timeframe and was told that due to the huge amount of claims they're dealing with, there is no specific timeframe and it could take a long time!!!
I do understand they have a lot of claims to deal with but surely there's an expected timeline.
Does anyone have an idea about the average time it takes for the actual money to come through.

thanks

di3004

Hi and welcome and well done on your success!:beer:

It is that they are also behind with backlogs that's not helped, and it may differ as well depending on how they are refunding the ppi back, where some will receive it all back on a settled loan, others may still have a balance or arrears where they may act quicker on refunding, it can vary.

If you do not have a bank account with them it may also delay the process of receiving the refund, as they will send by cheque instead, but again it can differ from time to time with them.

Keep in touch with them often, for example if you've received nothing by 28 days from when you received the last letter, then chase them up for an update, good luck and hope you receive your money soon.;)

scook2011

No idea of time frame but just to let you know I received my letter on 22nd December 2011 and still patiently waiting!!
Have called on a number of occasions as the interest was only worked out until 10th January and one guy I spoke to hinted at 5 working weeks, but not holding my breath!! Good luck!

Nicki1968

Nefetiti wrote: »

I received a letter from LloydsTSB on the 20th of January that my claims were successful and that the money would be paid into my account as quickly as possible. I was prepared to wait for up to maybe 30 days, then read on the forum of other members who received the same response from LloydsTSB a couple of weeks before mine and had received their compensation, it had been paid into their accounts in the same week.
I called this morning to find out if there's a timeframe and was told that due to the huge amount of claims they're dealing with, there is no specific timeframe and it could take a long time!!!
I do understand they have a lot of claims to deal with but surely there's an expected timeline.
Does anyone have an idea about the average time it takes for the actual money to come through.

thanks

As you have said you have already read the different experiences that people are having/had regarding their claims, i put in 3 claims in at beginning of October and in all honesty i didn't expect to receive anything until Jan/Feb....by chance i happened to check my bank on the 20th December to find i had been paid for 2 of the claims (loans) obviously with which i was overjoyed as i was so shocked they had paid them quite quickly. My other claim for a credit card was done the same time and i received confirmation on 23rd Dec that they had done calculations to 18th Jan......I am still waiting to be paid!

There are a lot of people who are still waiting from way back last year (Aug etc) so there doesn't seem to be a time received system in place. My theory is that any claims from Nov/Dec have been dealt with straight away as a way of trying to prove they are able to cope with huge amount of claims they are receiving. Which for the people who have been waiting a ridiculous amount of time is extremely unfair.

So to answer your question, i would not expect to receive anything soon. I believe phoning and emailing is also a waste of time, you will be told the same blah blah blah when you call them and they won't have any information to give you, if you email them they will just send a standard response 'we are dealing with your claim'. So unfortunately it is a waiting game, i hope you receive your money soon!

amersall

di3004 wrote: »

Hi and welcome and well done on your success!:beer:

It is that they are also behind with backlogs that's not helped, and it may differ as well depending on how they are refunding the ppi back, where some will receive it all back on a settled loan, others may still have a balance or arrears where they may act quicker on refunding, it can vary.

If you do not have a bank account with them it may also delay the process of receiving the refund, as they will send by cheque instead, but again it can differ from time to time with them.

Keep in touch with them often, for example if you've received nothing by 28 days from when you received the last letter, then chase them up for an update, good luck and hope you receive your money soon.;)

:eek::eek::eek:Who are you?????:p:p New poster???.

amersall

Sorry for highjacking the thread!!.

vervin

Got mine to day , 5 weeks later than they said . :T

Nefetiti

amersall wrote: »

Sorry for highjacking the thread!!.

That's okay, and thanks for your response

Nefetiti

vervin wrote: »

Got mine to day , 5 weeks later than they said . :T

Wow, congrtulations, lucky you! I wouldn't mind so much if they hadn't sent me any correspondance to say how much etc, I could have waited for a long while but the speed with which they sent a reply and stating that they'd pay into my account "as quickly as possible" well that's just teasing!