Already claimed ppi but did they put in full?

drwilliams83

So I contacted my bank today who paid me a ppi fee on two different loans. I asked them if it was paid in full and all I was told was that if I felt it should be re assessed then I should submit some calculations as to how much it should be and provide them with evidence and statements. Has anyone else had this? How do you even calculate what it should be?

[Deleted User]

You calculate by adding 8% simple interest to the amount of PPI you paid and were refunded.

What the Bank are saying is that if you have compelling evidence that they have done their sums incorrectly then you should submit it to them. If not, then assume the total was correct.

Why did you contact them in the first place? How long ago were you paid out?

You will never receive back more than you paid (plus interest).

societys_child

How do you even calculate what it should be?

A) Add up the total ppi paid
add 8% simple interest
C) deduct 20% from the interest (the tax man wants this)