Advice on PPI pay out

mommamoss

HI
Barclaycard have offered us our ppi back. The letter says that if we have a balance on barclay card that it willl go on that first.. (i knew this anyway)
However my query is that the barclay card we claimed ppi for has a zero balance. However we do have another barclay card that does have a balance. So what im really asking is if they will transefer the ppi pay out to the other barclay card which we havent claimed ppi back for.
Would appreciate anyone who has been in this situation for some advice.
Thanx

McKneff

As far as I know they can allocate any of the PPI to clear any arrears on another card, but not the balance.

I am quite happy to be corrected.

Don't forget you have to pay income tax on any interest that yu receive.

[Deleted User]

mommamoss wrote: »

the barclay card we claimed ppi for has a zero balance. However we do have another barclay card that does have a balance. So what im really asking is if they will transefer the ppi pay out to the other barclay card which we havent claimed ppi back for.

Only if you have arrears
http://www.moneysavingexpert.com/banking/setting-off

amersall

I believe they pay the redress to the card then raise a check to you and take it back off the card.