Lloyds ppi payout

Theinstructor

Hi, I wonder if anyone could advise me please.

I noticed yesterday that £5560 has been payed into my account for a claim on a credit card. As yet I have not received a letter so it was a bit of a surprise!

I have spoken to Lloyds this morning who gave me a breakdown of £4022 for the ppi and 8% interest being £1638.

From what I've read on this very helpful site shouldn't they be paying interest on every payment of ppi that I payed out?

I've had the cards going back going back to 1994.

I submitted a SAR which arrived yesterday (6.5kgs worth!!) which only goes back to 2000 which I was sort of expecting but I do have a good selection of CC statements going back to 1995.

Any advice would be great.
Thanks

-taff

No, they only pay interest on anything your account would have been in credit by had you not paid PPI

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi/redress.html