MSE News: Banks wrongly reject PPI complaints, despite admitting mis-selling

KxMx

Barclays (or rather Barclaycard) tried any excuse to get out of paying last year. I saw very odd ones here on MSE and Mum was told they couldn't find a record of her account, despite her sending statements with "PPI payment" on with her CC acount number. So she covered the pages in highlighter, sent them in again, and eventually (after more complaints to the CEO's office) got a 3k payout.

manama

The question i suppose for me would be, will this see an increase in upheld rates at banks now, as this must cost them in man power to do it all twice, plus any possible action or fine taken?

beccabee1979

I would like to warn anyone that if they are trying to claim and they had a Vanquis credit card....they will automatically reject it as they do not class it as PPI...they class it as an Repayment Option Plan... they say that the account is frozen so that you do not have to make repayments and the interest is also frozen. I am however going to give the financial srvices ombudsman a go, even though Vanquis claim this plan does not fall within ther guidelines!

dunstonh

beccabee1979 wrote: »

I would like to warn anyone that if they are trying to claim and they had a Vanquis credit card....they will automatically reject it as they do not class it as PPI...they class it as an Repayment Option Plan... they say that the account is frozen so that you do not have to make repayments and the interest is also frozen. I am however going to give the financial srvices ombudsman a go, even though Vanquis claim this plan does not fall within ther guidelines!

It doesnt matter what it is called. It is not the product you are complaining about. It is about how it was sold or set up. If they are concentrating their response on the type of product it is then it suggests your complaint was incorrectly focusing on the product.

There is nothing wrong with having PPI or any other insurance. You cant just complain because you have them. The failings are linked to the sales process and how they were set up.

ennvoy1

How can they be allowed to get away with not settling if they have been ordered to compensate customers by the regulator, the Financial Services Authority. Time to pay up! Any way of exerting a bit of 'people power' on them?

dunstonh

How can they be allowed to get away with not settling if they have been ordered to compensate customers by the regulator, the Financial Services Authority

The FSA has not ordered any such thing.

magpiecottage

ennvoy1 wrote: »

How can they be allowed to get away with not settling if they have been ordered to compensate customers by the regulator, the Financial Services Authority. Time to pay up! Any way of exerting a bit of 'people power' on them?

Which order are you thinking of?

The dispute resolution rules require a firm to redress a customer whose complaint has been upheld but simply complaining does not mean that the complaint will, or should, be upheld.

beccabee1979

It was the way they sold it I was complaining about, I was quoting what they said in their response back to me.

magpiecottage

beccabee1979 wrote: »

I am however going to give the financial srvices ombudsman a go, even though Vanquis claim this plan does not fall within ther guidelines!

FOS will tell you that it is for them (FOS) to decide, not the firm.

I suspect the "looks like a duck, quacks like a duck" argument will be adopted to your advantage.

bbloke

I supposedly took out PPI with my barclay card in 2007. Over 2 years ago I was made redundant and eventually struggled and fell into arrears with payments. 2 years on the debt collection agency the account was passed to indicated I had ppi. But i would not be able to claim as the business disappeared over 2 years ago. I cancelled the ppi and tried to claim it back. Finally after a few letters I was denied any claim as they say I completed the application online and ticked for ppi. I have never asked for PPI as I class it the same as the extended warranties you get in shops... Worthless. And besides that, I didn't even know I had it.

Any suggestions would be really helpful as they have put me into greater debt than I was with the PPI payments still being made even though they knew I was unemployed. They are also basing their decision on a tick box in an online application form. This is disgracefull and deceitful.