MBNA - Goodwill gesture

Marbaha

Background: We send a PPI claim to MBNA, they refused it. We then went to the FOS who agreed with the claim and told MBNA to compensate us.

We have now received a letter from the FOS that MBNA is willing to make an offer, as a gesture of goodwill and with no admission of liability.

FOS mentions no amount, but that it's based on their general approach.

Does anyone have any experience with this? Should we accept this offer or refuse it, based on the fact that we don't know if this is anything close to what we expect?

Thanks!

[Deleted User]

Marbaha wrote: »

Should we accept this offer or refuse it, based on the fact that we don't know if this is anything close to what we expect?

You accept it when you have the amount details...

Marbaha

Moneyineptitude wrote: »

You accept it when you have the amount details...

Problem is as stated in the letter from the FOS, that the MBNA will calculate the amount after you decided to accept the offer.

[Deleted User]

Marbaha wrote: »

Problem is as stated in the letter from the FOS, that the MBNA will calculate the amount after you decided to accept the offer.

I'd want to know the amount first...

-taff

Does the letter go on to say you wil be refunded in line with the genral approach the FOS take when upholding a complaint? In other words, exactly what you would have done if it had been upheld

Marbaha

Thank you for replying - i've typed a little of it out.

__ _ _ _ _ _ _ _ _

I am writing to you about your complaint concerning the payment protection insurance you took out with MBNA.

Following our involvement, MBNA has told us that it would like to make an offer, as a gesture of goodwill and with no admission of liability, to settle your complaint.

It has told us that how much compensation you will receive will be based on the general approach that the FOS takes when we decide that a consumer has been mis-sold PPI. MBNA will calculate the exact amount you will receive if you decide to accept its offer.
.... goes on to state how the offer is calculated (not that they put a figures in ....

Then says : If you would like to accept this offer, and have your compensation calculated in line with the general approach taken by the FOS, you do not need to do anything.

We have until the 14th Feb to decide if we dont want to accept it!

-taff

Then they're basically saying that you will receive exactly what you would have done if it were upheld.

KeepFighting_2

If it was me I would accept the general principles are that you get your payments back which will be the main thing. In reality you are arguing over an interest calculation which actually is the main part of the FOS guidelines and this is pretty standard. If you do not get your payments back you can complain back to FOS but I think this will be a very rare thing to have ot do. If you complain about interest FOS will agree with MBNA. Take the mony while it is there.

Marbaha

Ahhh ok. Thank you very much

Marbaha

Just re-reading the letter, I think that part that confused us was "as a gesture of goodwill and with no admission of liability". I would of thought that if they are repaying my PPI payments, that would be considered admission of liability?

-taff

No. It means they don't want to pay the FOS charge.