RBS PPI Claim Refused

Aglgn04

Hi,


Approximately 8-10 weeks ago I received a letter from RBS stating that according to their records I had PPI policies against 3 loans previously taken out that may have been incorrectly sold to me. This annoyed me as I'd always made a point of rejecting the offer of any protection plan due to my employment status with HM Forces.
As the letter suggested I completed the forms giving as much detail as I could. 4-5 weeks later I received a further letter informing me that they were still investigating my complaint. After 7 weeks of them receiving my letter I gave them a call to find out how my claim was coming along. The RBS rep confirmed that my claim had been upheld and that although he couldn't confirm how much he did confirm that I was due to receive a refund and that the investigations team were calculating this amount. He said a letter would be out to me by the 16th May as this was the 8 week cut off date. He said that I could call back if I wanted in 3-4 days to see if they'd updated my file with details of how much.
Today I called them again and it was confirmed that a letter had been sent to me on the 8th May but the details of the letter were not on file. When I get home this afternoon to read the letter I find that they are now saying I'm not due any refund. From the letter itself it says,


our records confirm that the ppi policy was cancelled within the cooling off period and that you received a full refund for all monies paid in relation to this policy. We are therefore satisfied that you suffered no financial loss and that no refund is due, as you incurred no additional costs as a result of the sale.

Taking into account what the RBS rep had told me the previous week for a number of reasons I have been left completely gutted by this letter. I could accept this result had I not been told what I was told. I would also understand had I initiated this investigation. The fact the RBS contacted me first has made this feel worse.
Going back to their findings I have never received any refund and I have certainly never cancelled any policy as I was always clear from the outset that I never wanted one. So how could I cancel a policy I'm unaware of and why would they contact me about a policy that had apparently been cancelled??


Can anyone help, advise or console me lol?? A few questions sprung to mind right away. Do I turn to the FOS? Has anyone encountered the same from RBS?


1. Policy cancelled by who & when?
2. What cooling off period?
3. Does this finding apply the same to all 3 loans?
4. Refund, how much?
5. Where was refund paid to?


Thanks & apologies for ranting on. Very angry, frustrated & deflated.....

[Deleted User]

Aglgn04 wrote: »

Taking into account what the RBS rep had told me the previous week for a number of reasons I have been left completely gutted by this letter. I could accept this result had I not been told what I was told.

Bank staff are very careful not to divulge the contents of PPI response letters for exactly this reason. I suspect you may have heard what you wanted to hear.

The letters sent by Banks are to inform the customer that PPI MAY have been mis-sold, they are not an admission of liability. They are sent primarily to set in motion a time-bar against any future complaints you might make.



You do realise that if you cancelled the PPI during the "cooling off" period you technically never actually had any PPI? The refund you would have received would have been the first month's payment and you didn't pay any more.

The Bank have written to you because their records will have flagged up PPI even though you only had it for a couple of weeks. Only you can have cancelled the insurance.


You will never receive a refund of money you never paid in the first place, so going to the Ombudsman would be a waste of time in your circumstance.

However, it's still possible that you had PPI on your other loans, re-read the letter to check whether it pertains to one or all of your loans.. If the other loans had PPI then you may still get a redress payment..

dunstonh

Many of the banks operate a two tier system. The first looks at the complaint. if successful, they pass it to a second team who then work out if there is any redress payable. It is a very common method.

In your case, they agree that a sale would not have been appropriate but upon checking the payment details, they see you never paid it anyway as you cancelled within the cancellation rights period. So, nothing paid and nothing to refund.

Taking into account what the RBS rep had told me the previous week for a number of reasons I have been left completely gutted by this letter.

Why? You should be pleased that you never paid it after all.

Going back to their findings I have never received any refund

You wouldnt do. If it was credit card or mortgage payment protection then it would have been cancelled before first payment. If it was a loan then it would have been corrected within the loan.

Do I turn to the FOS?

For what reason? You wont get a refund of something you have never paid.

foz3113

I am going through the same at the moment , I received a letter from NatWest which said Important information about your PPI policy on your NatWest Loan Account. This was on 13th Feb. 2014 and I phoned them today which is 8 weeks and 5 days from the original letter can any one please tell me the time scale I have to wait, as they said it is still in review.

[Deleted User]

They have eight weeks from the date of THEIR receipt of the form you filled in and returned to them

foz3113

Sorry I did not contact them. I got a letter off them and rang the same day to confirm my id. So is it still the same time scale as it will be 9 weeks tomorrow.

[Deleted User]

If you haven't made any actual complaint, you'll never hear from them.

Why did you ring simply to "confirm your ID"?

foz3113

It said in the letter we got off them we could either ring to confirm our details or fill a form they sent us so we rang. Then when we rang on Tuesday they said it was still in review stage.

[Deleted User]

foz3113 wrote: »

It said in the letter we got off them we could ring to confirm our details

So all you did was confirm who you were? Did you actually register a PPI complaint?

foz3113

We did in Nov. 2012 and again in June 2013 but both said we did not provide them with the right account details as we had moved round the country with work we didn't keep the account details but we knew we had a loan account as we came out of one business we consolidated all our loan and overdraft into one loan. (around £16,000) and at the time the bank manager side the only way he could do this was if we took PPI out. So now NatWest sent this letter to us which said
Important information about your Payment Protection Insurance (PPI) policy for your NatWest Loan.
As part of our on going commitment to our customer. we are undertaking a review into the above policy. As your account has been closed for some time it is important that we confirm that the details that we hold are still valid. In order to proceed we require the following.
Your name and address as stated above contact us on 08000150319
If your name and address is different please fill in the customer returns form along with a photo copy of a valid documentation to confirm I.D.
Then it went on to say. Once you have confirmed your identity we can complete our review of your PPI policy sale. That was dated 13th Feb 2014.

[Deleted User]

They've told you your complaint (such as it is) is still under review.

As eight weeks have passed, you can now refer to the Ombudsman if you want. But, as you've provided no mis-sale reasons and are just allowing the Bank to conduct their own investigation, I'd say it was wiser to wait a bit longer.

Any FOS referral will take around eighteen months.