Nationwide VS FCA VS FOS

smoggie1977

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