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Ppi claim with bank

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Comments

  • nidO
    nidO Posts: 847 Forumite
    What's triply amazing is that the amount received is over twice what it should be, £4/month for 16 years compounded at 8% is just over £1500.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper Photogenic
    Entertaining thread. ;)
  • Placida
    Placida Posts: 240 Forumite
    Tenth Anniversary Combo Breaker
    nidO wrote: »
    What's triply amazing is that the amount received is over twice what it should be, £4/month for 16 years compounded at 8% is just over £1500.

    Not as simple as that.

    In 2012 I received £3774 in redress for mis sold PPI on my Barclays overdraft and then last month my account was credited a further £4508 as Barclays had conducted an additional review and found that they had made a mistake when calculating my first refund and had not taken into account any interest and fees charged on my overdraft due to PPI

    At present, Barclays are going through previous data and recalculating redress using a new formula and paying out the difference.
    My redress was calculated from 1999.
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