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Refund calculation from Halifax Bank of Scotland - help please!
LouB1979
Posts: 1 Newbie
I'm hoping someone can help me with the offer I've received after reclaiming PPI I had on a Halifax credit card.
The calculation is:
Refund of premiums - £69.68
Refund of interest applied to the account because of PPI - £24.20
Interest at 8% calculated up until 3rd April 2012 - £0.63
Total - £94.51
Surely that 8% is wrong though? Or am I missing something?
Any help appreciated!
Thanks
The calculation is:
Refund of premiums - £69.68
Refund of interest applied to the account because of PPI - £24.20
Interest at 8% calculated up until 3rd April 2012 - £0.63
Total - £94.51
Surely that 8% is wrong though? Or am I missing something?
Any help appreciated!
Thanks
0
Comments
-
Possibly the figure is low as it is they are refunding the interest charged as a separate entry and 8% is only covering the period from your last payment to date.
Most seem to get back the premium plus 8%.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.0
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