Ppi uncertainty. Help n guidance please

dunstonh

Thank you for the information - When you say the capital part what do you meAn?
Does this mean they cannot offset the interest part of the refund?

Historically, you would get the interest and they would get the refund of premiums. However, recently there has been a chance where some providers have retained the whole payment. I havent seen any ombudsman decisions on this. There is logic in them keeping the lot but logic doesnt always come into it.

Ok, so the complaints team deal with and create your offer and then payment team will decide what I will receive, whether they offset etc.

The person that handles the complaint is not the same person that works out what or if you are going to be paid. This is why you frequently see the two step contact. i.e. a letter, email, text telling you that the complaint has been upheld and that they will be in contact in due course about the redress.

Do I just wait to see if I receive any money in my account or a cheque or should I call to enquire but I don't wish to draw attention to it either? ������

Wait and see. Last thing you want is the bank to thank you for telling them the debt defaulted as they hadnt spotted that.

Tdaw

Thank you for information and advice.

I have returned my acceptance letter and today received a text saying payments should be made by 5th July.

It also mentioned that 'if you are or have been insolvent or have outstanding debt on accounts held with RBS group, your payment may be impacted.' Not sure if this is a standard text or suggesting that redress will be offset - time will tell now.

Thank you all for your help and advice. I will let you know the outcome 🙏