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Barclays calculation
Butlers1982
Posts: 3,286 Forumite
All
Just received a refund calculation and wondered if anyone could check its validity as I'm not sure of how the interest has been calculated
A- refund of payments made for PPI £939.77
b-refund of interest on PPI payment £516.74
C- 8% interest compensation £15.48
d-refund of charges £91.41
Total £1560.31
The statutory interest amount where is that calculated from?
Just received a refund calculation and wondered if anyone could check its validity as I'm not sure of how the interest has been calculated
A- refund of payments made for PPI £939.77
b-refund of interest on PPI payment £516.74
C- 8% interest compensation £15.48
d-refund of charges £91.41
Total £1560.31
The statutory interest amount where is that calculated from?
0
Comments
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If it's a credit card it's only if the card would have been in credit without the PPI payments.Non me fac calcitrare tuum culi0
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If it's a credit card it's only if the card would have been in credit without the PPI payments.
Yes it was a credit card, what do you mean0 -
The 8% is worked out differently on loans.
Such a low 8% element means your card would have very rarely been in credit.Non me fac calcitrare tuum culi0 -
Credit limit of £2,000 balance around that throughout 2 years... It was never in credit, as in I always owed them so in debit0
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Butlers1982 wrote: »All
Just received a refund calculation and wondered if anyone could check its validity as I'm not sure of how the interest has been calculated
A- refund of payments made for PPI £939.77
b-refund of interest on PPI payment £516.74
C- 8% interest compensation £15.48
d-refund of charges £91.41
Total £1560.31
The statutory interest amount where is that calculated from?Butlers1982 wrote: »Credit limit of £2,000 balance around that throughout 2 years... It was never in credit, as in I always owed them so in debit
So, if I understand you correctly, you owed about £2k on this credit card for about 2 years
... and you are saying you paid almost £1000 PPI in that period for that debt??? :eek:
Wowsers!
I never took PPI, but from what I remember that is much, much more than the prices I was being quoted back in the day for PPI cover.
Can I also ask why you decided to post this thread on reclaiming PPI on this particular sub-board that, as the name implies, is supposed to be about reclaiming bank and credit card charges, rather than posting it on the main board that is for reclaiming PPI and other insurance? :huh:0 -
Because people make mistakes?
And the board does say credit card charges, and PPI could legitimately be misunderstood to be a credt card charge....Non me fac calcitrare tuum culi0
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