Unexpected PPI Refund - Topshop and Debenhams

JooM

Back in 2007 I received a letter from GE Capital to say there was the possibility I’d been mis-sold PPI on my Debenhams card and therefor they were giving me a refund. From memory I think it was in the region of £100-£150. I hadn’t actually realised that it was PPI on my statements as it was called cancellation premium so I then looked at my Topshop statement and it was on there too. I asked for it to be stopped immediately and for it to be investigated. I received a letter saying they’d stop it however there was no evidence I’d been mis-sold.

In May I was looking at my Topshop statement on-line and noticed the cancellation premium was on there. I’m sure it did drop off at one point but can’t be certain (stupid I know but as I have a £15 per month DD set up I don’t tend to look at the statements). I clicked on the contact us button and told them what had happened back in 2007. A few weeks later I got a letter to state my complaint had been passed to Santander. On Saturday I received the following:

My investigation is complete and I would like to offer you £3249.99 in full and final settlement of your complaint. My investigation has concluded that the PPI policies might not have been suitable for you when they were sold.

Breakdown of calculations
Topshop
Full refund of PPI Payments £859.02
Associated Interest £1226.10
Over limit fees refund £12
8% interest £995.40
Gross Redress Amount £3092.52
Income tax deducted £199.08
Net Interest £796.32
Net offer £2893.44

Debenhams
Full refund of PPI Payments £0
Associated Interest £345.74
Over limit fees refund £0
8% interest £12.82
Gross Redress Amount £358.56
Income tax deducted £2.56
Net Interest £10.26
Net offer £356.00

Today, the full amount is in my bank account. I wanted to wait until I had the money before posting as I can’t quite believe it. I wasn’t even suggesting I’d been mis-sold, just that they’d failed to cancel.

Mersey_2

Well Done!