RBS Letter with cheque received!

LG1979

Today I have received a letter from my bank RBS, telling me they owe me almost £600 from a loanguard policy on my overdraft.

I haven't requested this or knew anything about it.

Has anyone else been sent one of these letters?
Do we know if they are doing the thing where they'll proactively send you money back, but it's really not the full amount you're owed?

amersall

Some times they do this, a breakdown may be on its way, if you do not get one, or you know that they owe you more, give them a call and ask.

LG1979

What I found strange was that this was something I wasn't aware of. I reclaimed PPI on loans about 3 years ago, and this was never brought up. The letter they have sent out isn't 100% clear on what the money is calculated from or how far back it goes.

[Deleted User]

If the Bank finds a generic selling error with a particular policy or even the staff who sold it (possibly as part of investigation into several complaints), then they will often seek to redress anyone who was affected even if they haven't complained.
Well done on your unexpected windfall..

LG1979

Thanks for the advice.

Was obviously over the moon to receive the cheque but wanted to ensure the bank weren't trying to dodge paying the full amount owed. I wouldn't have gievn it a second thought but had saw Martin Lewis' note about checking 'Redress' on any offers received from PPI claims as it may be that they're not repaying fully.

[Deleted User]

LG1979 wrote: »

saw Martin Lewis' note about checking 'Redress' on any offers received from PPI claims as it may be that they're not repaying fully.

This is an article about using "comparative redress" which doesn't apply in your case (or in many cases at all).
The article is giving false hope/ needless concern and is really just another Claims Management Company attempt at getting a final squeeze out of the PPI lemon.

keza

I too have today received 2 letters from rbs on 2 loans I had ppi on telling me I was getting my complaint from 2009 upheld and I would be receiving almost £2,500 within 28 days. Hope it's not fake!!

[Deleted User]

keza wrote: »

Hope it's not fake!!

Why would it be fake?
Is the letter asking you for any money upfront before your cheque can be issued? If that was the case, I'd be concerned-otherwise what has anyone to gain by faking such letters?

dunstonh

had saw Martin Lewis' note about checking 'Redress' on any offers received from PPI claims as it may be that they're not repaying fully.

Unfortunately, MSE fell for a small number of media articles that got the subject of comparative redress totally wrong.

keza

Moneyineptitude wrote: »

Why would it be fake?
Is the letter asking you for any money upfront before your cheque can be issued? If that was the case, I'd be concerned-otherwise what has anyone to gain by faking such letters?

true, I am just so shocked they are upholding the complaint almost 5 years after they told me no.

I spoke to natwest and they confirmed they are genuine and I will receive £2,469.92 in my account within 28 days :beer::j

very pleased