Frasercard / Santander / Genworth PPI

IainDennis

Two years on, I got a cheque this morning from Genworth in relation to my PPI claim. Its about £4,000 - a nice wednesday morning bonus but I have to be honest and say that it feels significantly lower than other claims (My Egg / Barclaycard claim was from a much shorter term and totalled £16k).

Has anyone else had a payment from Genworth in relation to Frasercard and feels that its a lower amount than expected.

Cheers

Iain

-taff

It's a defined method of redress so you're only entitled to what you paid in PPI plus any associated interest and 8% simple interest.

Mersey_2

You can ask the Ombudsman to check whether a calculation was correct (some of NatWest's and Genworth's were not).


However, you would have needed to have referred this to the FOS within 6 months of Genworth's offer letter.

sun73

Mersey wrote: »

You can ask the Ombudsman to check whether a calculation was correct (some of NatWest's and Genworth's were not).


However, you would have needed to have referred this to the FOS within 6 months of Genworth's offer letter.

Can I ask how would you know if an offer was incorrect if you are unfamiliar with how a business calculates redress?


I had two small offers from Genworth three years ago and simply accepted them because I believed they would have calculated them in accordance with FCA/FOS guidelines. Is it too late to check?

Mersey_2

Sadly, it would now be too late to refer the matter to the FOS.


There was a handy calculator re the 8% pa interest element on here somewhere (handy for those with packaged account reclaims as well as PPI), but some CABs in my area did offer to check offer letters last year as well.