Ppi paid back

Clairebear06

I have had a barclaycard since 2003. In March I received a letter from barclaycard Which was backdated and stating it was my "missing PPI statement". This shocked me as did not know I had been paying ppi for the past 13 years. I phoned them up, they asked me a few questions and within a month they had paid £7500 into my bank. After this I decided to look into loans I had from 13 years ago also. HSBC initially denied they had any information about my accounts when I spoke to them several times on the phone. So I wrote an email, they rung to ask some questions, and again within about 6 weeks I had received £5500 into my account. It was a shock they owed me so much, but just goes to show what banks are taking from their customers without their knowledge.

dunstonh

This shocked me as did not know I had been paying ppi for the past 13 years.

Indeed, it should shock you as it suggests you havent been reading your statements for 13 years. You really must take an interest in your financial affairs in future. This time you got lucky and have had a refund. Next time that may not be the case.

but just goes to show what banks are taking from their customers without their knowledge.

It wasnt really without your knowledge. You had over 150 statements telling you how much they were taking.

This is a great outcome for you but (text removed by MSE Forum Team) avoid them in future.

Mersey_2

dunstonh wrote: »

Indeed, it should shock you as it suggests you havent been reading your statements for 13 years. You really must take an interest in your financial affairs in future. This time you got lucky and have had a refund. Next time that may not be the case.

It wasnt really without your knowledge. You had over 150 statements telling you how much they were taking.

This is a great outcome for you but take on board your own failings in this as well and avoid them in future.

You can't know that, dunstonh.


Yes, that is what SHOULD have happened; but, financial institutions failed to in many cases.

(Text removed by MSE Forum Team)

Plus, as the OP has successfully reclaimed PPI plus interest it's otiose.

www.telegraph.co.uk/finance/personalfinance/bank-accounts/10282200/banks-fob-off-shocking-tally-of-PPI-complaints.html

magpiecottage

Mersey wrote: »

You can't know that, dunstonh.


Yes, that is what SHOULD have happened; but, financial institutions failed to in many cases.

I don't think your link disproves the point dunstonh makes.

Yes there have been investigations into complaints that have been found to be flawed but the OP's was upheld.

The point dunstonh makes is that every one of those 150 odd statements will have been itemised - like every other credit card statement. So the insurance will have been stated on it.

Indeed, if that were not the case there would be no evidence to support a complaint as it relies on the existence of that PPI.

Mersey_2

The point is some financial institutions failed to either send out such statements, or include the PPI element separately. This is also true of some packaged account fee reclaims (failing to list the pcm fee) and store cards.


Of course a complaint does not rely on a statement, it relies on the existence of PPI and payment for the same [without the knowledge of some, including the OP].


Precisely: the OP's complaint was upheld and yet dunstonh states he was lucky as it was his fault(!)

-taff

I've never seen any of my credit card statements or store card statements that failed to include this insurance.

I can attest however, that it's very easy to forget what you've agreed to or signed for.

takman

Mersey wrote: »

The point is some financial institutions failed to either send out such statements, or include the PPI element separately. This is also true of some packaged account fee reclaims (failing to list the pcm fee) and store cards.

Do you have any evidence of hidden PPI? , this is just a myth that CMC use to try and get people to sign up to them and use their services claiming that they can find "hidden" PPI.

Mersey_2

Yes, it's referred to by the Ombudsman and Martin Lewis, as well as numerous individual complainants.



In the PPI sphere - particularly store cards - there's widespread evidence that the PPI box was ticked after the customer left (as happened to my OH, but luckily she kept the carbon copy!).

I myself received a packaged account fees' reclaim, after NatWest had failed to both include the monthly fees in monthly statements or send a letter out detailing the account benefits.


I'm aware what SHOULD happen; but, complaints seek redress when this did not. [I realise there'll always be a few fraudster 'try ons', but most claims aren't]

takman

Mersey wrote: »

Yes, it's referred to by the Ombudsman and Martin Lewis, as well as numerous individual complainants.


luckily she kept the carbon copy!).

I myself received a packaged account fees' reclaim, after NatWest had failed to both include the monthly fees in monthly statements or send a letter out detailing the account benefits.


I'm aware what SHOULD happen; but, complaints seek redress when this did not. [I realise there'll always be a few fraudster 'try ons', but most claims aren't]

If you have proof then show me this?. I have never heard of any credit card statement not showing PPI on it. I'm not on about the credit agreement I'm saying that all statements will show how much PPI is paid, it is never hidden!.

In regards to your packaged bank account. Your saying Natwest deducted the monthly fees from your account but it didn't appear on your statement?, I can't see how this is possible.

dunstonh

You can't know that, dunstonh.

The OP mentions it is Barclaycard. We know Barclaycard itemise it on their statement.

Yes, that is what SHOULD have happened; but, financial institutions failed to in many cases.

But not in this case. Over 150 statements with it showing as an entry (unless the OP didnt borrow for the whole period - it is only paid when borrowed)

With Loan PPI, it can be argued it is hidden. It isnt actually hidden but it is not displayed in a way that stands out. With Credit card PPI, it is not hidden. It is any entry on the statement (sometimes in the transaction list, sometimes in the summary depending on provider).

Which could be a lucky outcome. We know a lot of PPI refunds are lucky. There are also people with genuine complaints that get rejected. So, you cant always rely on luck. It is better to get it right from the start.

Banks have been rightly spanked for the PPI issue. However, someone who does not read their statements is at risk of missing, not only things like this, but also fraudulent transactions and forgetting about regular payments that they should long have stopped. So, I make no apology for giving that reminder.

In the PPI sphere - particularly store cards - there's widespread evidence that the PPI box was ticked after the customer left (as happened to my OH, but luckily she kept the carbon copy!).

However, the PPI entry would have appeared on the storecard entry each month it was paid.

Mersey_2

Yes, sadly it happens, takman.


Yes, that's exactly what I'm saying re my successful Advantage Gold Account reclaim. Hence my complaint and refund plus written apology and compensation. [The text of their written response is on here, as I included it following another poster's apparent disbelief. Although they turned out to be trolling, which I realise you are not. I, of course, realise my case is unusual and NatWest assured me it only affected a few hundred customers.]