Should a PPI settlement include a compensation amount?

Sussex1974

Hi,

I had a missold PPI settlement from Nationwide which included a compensation amount as well as PPI premium redress and taxable interest. I have also recieved a settlement offer for missold PPI from HSBC, this time it was only for the PPI premium redress and taxable interest, no compensation. Should compensation be included as standard, did I just get lucky with Nationwide or are HSBC just trying their luck to avoid having to pay compensation expecting me to just accept their offer?

Thanks for any advice

Phil

-taff

No, compensation is not included as standard. Standard is refund of premiums plus interest, plus 8% interest.

magpiecottage

You are only entitled to be put into the position you would otherwise have been in.

Occasionally there might be a modest payment for material distress and inconvenience but this is unusual.

Sussex1974

Thanks for the replies, much appreciated, I'll count myself lucky and not be greedy then