Co Op Bank PPI

fredtheshred

A while ago I was contacted by the CoOp bank about PPI. This was dealt with. I recently received notification that I was also owed a tax refund that they would pay. I agreed to the amount, however weeks later and well past their own stated 20 working day time frame I received another letter stating that due to an 'administration error' I would receive around half of the original offer. they also state that a sum would be deducted as i had made a claim on one of the loans. I had, but there is no mention of refunding the Insurance Premium. Also, I asked for 'Statutory Compensation' to be paid this they agreed to do, however they say that they will pay up to a date which is two weeks prior to me receiving their revised offer.

The questions I have are as follows,

Should they have refunded the Premium I paid (having deducted the amount I drew from it,

When should the 'Statutory Compensation' run from and to.

Hope the above makes sense.

Cheers

Nearlyold

fredtheshred wrote: »

A while ago I was contacted by the CoOp bank about PPI. This was dealt with. I recently received notification that I was also owed a tax refund that they would pay. I agreed to the amount, however weeks later and well past their own stated 20 working day time frame I received another letter stating that due to an 'administration error' I would receive around half of the original offer. they also state that a sum would be deducted as i had made a claim on one of the loans. I had, but there is no mention of refunding the Insurance Premium. Also, I asked for 'Statutory Compensation' to be paid this they agreed to do, however they say that they will pay up to a date which is two weeks prior to me receiving their revised offer.

The questions I have are as follows,

Should they have refunded the Premium I paid (having deducted the amount I drew from it,

When should the 'Statutory Compensation' run from and to.

Hope the above makes sense.

Cheers

Not really - what is this "Tax Refund" you refer to?

dunstonh

Should they have refunded the Premium I paid (having deducted the amount I drew from it,

Claims on policies should see the amount paid out deducted from the redress payment.

When should the 'Statutory Compensation' run from and to.

To the calculation point.

McKneff

I would have thought that only HMRC could give you a tax refund as they are the only institution that
you pay tax to.??


Ask them to clarify

Nomar

Not a CO-OP PPI query but I rang RBS last week to check if I had any loans dating back from 1990 with PPI on.

The handler went away and came back and said I had 2 policies with PPI on and we went through the claim form over the phone.

Got acknowledgement email and letter a few days later and now this evening I had a text come through saying they have sent me a letter detailing the outcome of my investigation for one of the claims.

This seems an awfully quick response time, so am I to assume they are rejecting it or do they just get through these claims really quickly nowadays?

DavidMCR

My wife is waiting on the same - my claim with RBS is in its eighth week while hers has been decided in six days - my mum got a similar answer quickly but sadly was a rejection so we're expecting the same, I don't think they can calculate that quickly but good luck and come back and say what happened

Nomar

DavidMCR wrote: »

My wife is waiting on the same - my claim with RBS is in its eighth week while hers has been decided in six days - my mum got a similar answer quickly but sadly was a rejection so we're expecting the same, I don't think they can calculate that quickly but good luck and come back and say what happened

Thanks David.

I just get the feeling it will be rejected if the answer comes that quickly. I expect if the first one gets rejected the 2nd one will too. Well, I won't hold my breath now then.

DavidMCR

Actually Nomar they were two upheld responses, one for £178 and one for £1470 - RBS have been excellent throughout but we have a few on-going claims which might have sped things up a little. Come back and let us know how you get on...

PS -once they send the decision reached text, you can call them and they will tell you over the phone so if it's not landed yet, call them up

Nomar

Good news David, well done mate!

I'm still waiting for my letter, I expect it will come in the next day or so. .

DavidMCR

OK, but no need to wait as they will tell you if they've said they have reached a decision

Nomar

True.

Had parents evening last night and got to go out tonight plus got to sort out our broken washing machine as well as try and study for a work exam so not sure what time I'll have to call them.