PPI Remittance LLoyds

ctunni

I've just received a PPI Remittance Letter from LLoyds with a cheque included for over £600. It doesn't tell me much other than to refer to a letter dated two weeks ago which I never received. I'm going to phone them and check this is genuine because my claim was settled a couple of years ago so I'm not sure what is going on. Are Lloyds in trouble again lol?

Nasqueron

Plenty of people have had these sort of letters, normally just means the bank decided they made an error in calculation earlier so are correcting it, just ring the bank if you are unsure.

One might suggest that while Lloyds are accumulating future tax credits from their losses and with the Government still owning a big chunk (with reduced or no dividends) they are getting rid of any possibility of future liability now so when they are profitable and fully private they can go back to making profit and paying dividends

[Deleted User]

Lloyds are revisiting old complaints because the regulator wasn't happy with the complaint handling procedures used by a private firm which the bank employed.

If you have received a cheque then I can't see how (or even why) it might not be genuine?
Just bank the cheque and enjoy the cash!

Placida

ctunni wrote: »

I've just received a PPI Remittance Letter from LLoyds with a cheque included for over £600. It doesn't tell me much other than to refer to a letter dated two weeks ago which I never received. I'm going to phone them and check this is genuine because my claim was settled a couple of years ago so I'm not sure what is going on. Are Lloyds in trouble again lol?

Last year LBG was fined £117,430,600 by the FCA for failing to treat their customers fairly when handling PPI complaints between March 2012 and May 2013.

Lloyds set up an extensive remediation programme to re-review or automatically uphold over 1 million PPI complaints, including those within the relevant period.

Those who were affected and due redress are being contacted directly.