Advice Needed - RBS PPI Reclaim

ina1983dog

New poster to this forum so please bear with me.

I phoned RBS about two months ago regarding missold PPI. I was delighted to receive an offer letter two weeks ago from them (albeit on the last day of the eight weeks they had to get back to me) offering me around £3,000 including interest. I don't know if I have all the paperwork to check what was actually due.

I signed and dated the return form and posted it back last week accepting their offer.

Imagine my disgust to receive a letter from them this morning retracting their original offer and offering me around £750 instead as they had made an "error" with the first offer. The letter also stated that they would ignore my return form.

I tried to phone the Customers team at the bank but that was even more infuriating as they simply referred back to the fact that the inital letter had been superceded.

Can anyone give me a bit of advice on this. If I have accepted their original offer can it be superceded by a second offer, particularly as if it is outwith the 8 weeks they have to get back to me. The simple reason for the second offer was that they had made a mistake with the original error. I don't see why they should be able to correct their mistake outwith the time limits they should adhere to particularly as they loose the right to any further claims once I sign the form .

I phoned the Financial Ombudsman but they have an 18 month turnaround time. Not that great!

Any advice would be gratefully received

Cheers
ian:(

societys_child

If they've realised a mistake was made, of course they can correct it.

ina1983dog

I accept that any mistake can be corrected but I have already signed the acceptance and I cannot help wondering if that they had discovered that if they had under offered they wouldn't be so quick turning it round.

They offered, I accepted, surely they should have used their eight week window to get it right first time!

[Deleted User]

ina1983dog wrote: »

They offered, I accepted, surely they should have used their eight week window to get it right first time!

They should, but they didn't. That doesn't mean you are any more entitled to extra money.
By the way, the Bank do indeed have eight weeks to respond to complaints but if they had failed to do this the only sanction you could have taken was to refer your complaint to FOS-which takes up to eighteen months!
I think you are confused about the importance of the eight week time limit. There are numerous instances where Banks have failed to respond within eight weeks-it doesn't mean the complainant gets any additional money other than perhaps a few weeks interest.

merrymiller

Hi Newbie here, I hope the forum ay be able to help. Here goes...

I had a RBS Advantage credit card that I took out in 1998 and closed in 2002. I wrote to RBS in July last year asking for a copy of the agreement, but only got a letter back, which said:

"Your request for documentation contains some misconceptions about your entitlement to information in a specific form and our obligations to supply that information. As you are aware this account has been fully repaid, and therefore, there is no active agreement between RBS Credit Cards and you with regards to the above account. The Consumer Credit Act is for active agreements and therefore we are under no obligation to provide you with the requested documents as your obligations to us under the agreement have ended"

Does anyone know that what they are saying is correct, or is it a first response fob off to dissuade me from taking the claim further?

Can anyone recommend a further course of action?

I would not have taken out the PPI as my wife could have covered the credit card repayments. I have most of my statements from them, but think I need a copy of the agreement before I can tell if it is worth perusing a reclaim.

Any advise would be most welcome.

Many thanks in anticipation.

misschicken

They are correct and they're not trying to fob you off - it's got nothing to do with your PPI issue. You don't need your agreement and it won't show anything of use. If you think you were mis-sold then all you need to start your complaint is your valid reason and ideally your account details (name, address, card number etc) which you'll have to hand on your statements. RBS will probably have limited records for you on file due to the age of the account, but if your complaint is upheld those statements will also come in handy for calculating redress. Go to their website and fill out the PPI consumer questionnaire - it's the same one used by the FOS - and send it off to them.

merrymiller

Thank you for your advise misschicken It's greatly appreciated. I will do as you suggest and see where it gets me. Merry