No remediation from the 'Go-To' Barclays Bank for the new IC4 calculator !

justanon

Hi all,

Just to let you know, the 'Go-To' Barclays Bank is rolling out IC4 (to replace their existing IC3 calc) for most migrated accounts and to a lesser extent B/card core cards, where the IC generates automatically calcs for cote cards but not always.

KPMG have undertaken a review of IC3 and have advised Barclays to amend IC3 to include any 'late fees' and 'payment fees' into IC3 because it makes a diiferance in favour of the customer with regards redress amounts.

But guess what ? Yep.....the 'go-to' bank will not reopen cases to recalc any redress amounts given to customers in previous upholds.

My advice is to challenge Barclays and also escalate to the FCA.

Hope this helps.

justanon

Hi all,

Further to my previous post with regards IC4, the following MSE article totally supports my suggestion to contest any previous and/or current PPI complaints for any B/card credi cards (including G/fish, M/Stanley. Egg, Woolwich, etc. ) :

As I advised previously, please challenge B/card to get them recalculate any previous redress amount communicated to you using their new IC4 calc. Worst case, if it works out at a lesser mount of redress (extremely rare cases !), just accept the higher redress and B/card will have no option but to uphold the higher redress.

For info, I have been advised that a lot of customers and CMCs are already challenging previous redress amounts by getting Barclays to recalc using IC4 for the reasons stated above. You can go back as as far as you want; months, years, etc.

HTHs.

justanon

As a 'new' user, I can't quote link to MSE article as referenced in my previous post but I am sure that everyone can work it out !

justanon

Hi all,

Just to let you know, B/card have advised all complaint handlers that IC4 is not a 'trusted source' and to check all statements against IC4 for errors. If errors are found, complaint handlers are then advised to create and use manual calcs rather than use IC4.

You just can't beat the 'Go-To' bank lol ! Even us the Complaint Handlers are having a laugh. We just waiting for the next update with regards what to do with IC4. It is just like the 'never ending story' or is it the 'Brother Grimm' lol !!!