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Nationwide VS FCA VS FOS
smoggie1977
Posts: 18 Forumite
Hello all
I am looking for some specialist advice.
I have been successful in my PPI claim against Nationwide. Credit card.
I am querying the Nationwide calculation on the determination of 8% simple interest.
I have been given £27 interest on £500 of premiums over 8 years.
For the first 3 months , I did not pay off in full. But did so on the 90 plus payments
Nationwide's calculation which they claim is authorised by the FCA , does not take into account the months of when my notional balance was in credit
In section 10/12 of the FCA called assessment and address of Payment protection page 116 clearly shows monthly calculation .
So can Nationwide , disregard the formula in section 10/12
and are they any permit able circumstances to which the don't have to calculate the 8%
I have paid my balance off in full for over 6 years and yes I was still charged a premium
I am looking for some specialist advice.
I have been successful in my PPI claim against Nationwide. Credit card.
I am querying the Nationwide calculation on the determination of 8% simple interest.
I have been given £27 interest on £500 of premiums over 8 years.
For the first 3 months , I did not pay off in full. But did so on the 90 plus payments
Nationwide's calculation which they claim is authorised by the FCA , does not take into account the months of when my notional balance was in credit
In section 10/12 of the FCA called assessment and address of Payment protection page 116 clearly shows monthly calculation .
So can Nationwide , disregard the formula in section 10/12
and are they any permit able circumstances to which the don't have to calculate the 8%
I have paid my balance off in full for over 6 years and yes I was still charged a premium
0
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