RBS PPI help

PaulMad78

Im wanting to claim ppi on several loans I have had with rbs however I have no paperwork account numbers etc

I have got this letter ready to go but any help or advise before I send it and is this the correct way to go about the proccess?


I believe I have been mis-sold apayment protection insurance policy and would like to request a full refund ofmy premiums, plus interest paid.

I took out a several loans at yourGlasgow branch and also bought payment protection policieswhich cost me extra over the life of the loan.

When I took out the loan, I was toldthat my application would be refused if I did not also buy a PPI policy. TheFinancial Services Authority’s advice to consumers is that, while it does notbreach FSA guidelines, a borrower should not be refused a loan if they choosenot to buy an insurance policy.

I said I did not need the PPI as my employer provides a generous illness and redundancy package.

You are not allowed to make PPI acondition of taking out the loan unless you include the costs of PPI in thequoted interest rate, which you did not do.

In forcing me to buy this policy, youhave also breached paragraph 8.6 of the Banking Code, to which you are asignatory.

I do not believe being forced to buythis policy as part of the loan was a fair and reasonable obligation as I didnot need this insurance and said at the time of taking the loan that I did notwant it.

I am requesting a full refund of allmy insurance payments, plus interest.

If I do not receive a favourableresponse from you I will pursue this claim through the Financial Ombudsman.


Yours faithfully,

dunstonh

The financial services authority was disbanded a year ago. The FCA replaced it. You dont need to remind them of the rules. Especially as the rules do allow insurers to insist on insurance. They just can't insist on their own. So, say that you were told you had to have it to get the loan but leave it at that.

Redundancy package is not guaranteed and doesnt impact on PPI. So, that bit is not relevant.

For your sickness benefits, actually state what they are in timescale. Generous doesn't tell them anything. The timescale is key.

You are not allowed to make PPI acondition of taking out the loan unless you include the costs of PPI in thequoted interest rate, which you did not do.

You almost certainly will find that their brochures had tables for with and without PPI. So, unless you are sure on this point, dont say it.

In forcing me to buy this policy, youhave also breached paragraph 8.6 of the Banking Code, to which you are asignatory.

They are allowed to insist. They just can't put undue pressure on you (although some sales methods were allowed) when it is not a requirement. You dont need to quote banking code guidelines to them. Especially as this is the weakest part of your complaint (They have no evidence to support your allegation. Almost certainly you wont either). you are just repeating the same thing over. So, irrespective of what you say, that point is likely to fail. Just saying you were told to have it is enough. Dont over complicate and dont let stronger reasons be drowned out by spending too long on the weaker ones.

-taff

Fill in this form at step 3, don't bother with the covering letter.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
You need your loan numbers to complain, not the PPI insurance numbers.A lot fo your letter is rubbish, you can't prove they fored you, it's hearsay,, you can't prove it, you can complain though about single premium on a consolidated chain of loas, and you had no need of the insurance due to good sick benefits/savings etc.

dumfriesdave

Hi Paul I had similar matter dealt with by RBS recently.
I had a RBS credit card years ago, and like you had no record of any account numbers.
If you google RBS PPI claims it provides you with a pdf to print and send to them.
In the account number I put 'unknown' and dates as 'unsure' therefore was not optimistic of any success.
Imagine my delight when they replied saying a refund was due, and would be processed within 28 days !

Best of luck.

biggarnut_2

I've had it confirmed I'm getting a refund with 28 days having now signed acceptance of refund sum and RBS confirming they've received my form.


Has anyone experienced the refund will take 28 days to arrive or have some found it coming through quicker or slower than that?