PPI reclaims incorrectly calculated? more refunds?

amagicwandplease

Hi

Received a random statement on a closed account with Monument on Friday with details of a 9k credit.

Absolutely gobsmacked I rang them and they said it was correct and would be refunded to me - obviously over the moon!

My question is though - does anybody know why these random refunds are coming out? I made a (lot of!) claim(s) about 5 years ago and got 2k back at the time from Monument, some more some less.

I am wondering if any other companies are likely to have made some kind of mistake when calculating repayments and I should be checking/chasing these up?

When they came in originally I just assumed they were correct - another round of refunds would be a bonus and I am sure everyone will be pleased to have another go too!

[Deleted User]

Some banks are indeed revisiting old complaints. Not every bank or even every complaint was affected, however.
Enjoy your extra cash, but I wouldn't hold your breath waiting for any more...

Firms will reopen a case voluntarily if new evidence comes to light or if they are forced to by the regulator. The latter has happened with a few banks and they are going back over some old complaints automatically. You dont need to make any approach to them yourself, however.

dunstonh

My question is though - does anybody know why these random refunds are coming out? I

They are not random. A number of providers have been instructed to review old complaints. They have to report their progress and outcomes to the regulator. So, you dont need to do anything.

billthebolt

I too received a random statement on Thursday last, (9/6/16) for a closed account with Monument, showing a calculation of Payment Break Plan refund and a credit balance of around £4800. I had already received around £1300 back in 2014 from them in settlement of my PPI claim, so was very surprised and delighted to receive this. Have written to them requesting the funds via either cheque or bank transfer.

What a result!:beer:

Update: Cheque for £4815.49 arrived yesterday (18/6/16) from Monument, woo-hoo!