Reclaiming PPI on old business a/c

SteveinPenrith

New member here, so go easy on me please ;-)

Back in the 90s, I ran a small business, with a business partner, and we had a joint business account.

I know for a fact that we paid for PPI that I did not want, but was told that I had to have it, as it was part of our overdraft agreement (we had a long term overdraft of £10k)

The business folded in 1999, when I suffered a stroke (fully recovered now btw), but as far as I am aware, the bank a/c is still in existence, though unused for many years.

So, my questions are:

1) can I claim back PPI on a business a/c
2) can I claim back PPI on an a/c that has not been used for so many years?
3) I have no records whatsoever from that period, so if the answers to 1+2 above are yes, how do I go about it?

Thanks in advance,

Steve in Penrith

dunstonh

1) can I claim back PPI on a business a/c

You can make a complaint if you wish.
Although why didnt you claim on the policy as you appear to have had a) a stroke and b) business failed. Both of which would be covered by the PPI.

2) can I claim back PPI on an a/c that has not been used for so many years?

The account has nothing to do with it unless you left it in a position of debt.

3) I have no records whatsoever from that period, so if the answers to 1+2 above are yes, how do I go about it?

This does not stop you making a complaint but are you sure it was PPI? Usually on commercial borrowing where there is a key employee/owner, the bank asks for life assurance. Could it have been that?

[Deleted User]

You'll have to contact the Bank to see what records exist 18 years on.

If the business has folded, why would the account associated with it still be open?

Regardless, I would think you'll need a far stronger complaint than saying you were told you had to have it. On a business account, it's not even likely that it was PPI!