PPI on Overdraft a thing?

JMC0500

So ive got fed up of all these PPI people calling me, usually i hang up on them, But this last week i decided to explain to 2 of these cold calls that i have never had a loan, Never had a credit card, Hoping armed with this info they would leave me alone, Instead they asked if i had an overdraft, which i have and have had for 13 years, They both claimed i could have a claim with that.

So this has peaked my interest, now im genuinely interested in how an over draft could possibly have a PPI claim, i guess im not that interested in making a claim as i hung up on them thinking they were talking garbage.

Going to give some basic info on the history of my overdraft/account, Does any of this sound alarm bells for you money savy people?

# Had a basic BoS kids account till i was 18, It had nothing in it really, i thought it had a little more in it than it had, purchased some coffee pods for my Gandma on Amazon, Got a letter informing i was being charged for an overdraft fee, It was a kids account, it had no overdraft fee, i opened it when i was 12, anyway the bank manager invites me in, Informs me the account had a "£4 shadow overdraft" and that i had exceeded it and was being charged £30 but the bank would wave it as a good gesture, He then got me to upgrade from the child's account to a more "Grown up" account with Fee's and overdraft ect as i was going to college and getting a bursary now, think it was the Silver current account, dont "" me on that it was a long time ago.

#5-6 years later, Been to college, in and out of jobs, on JSA (Job seekers allowance) Ive never been able to get myself out of that overdraft for any substantial amount of time over the years, Starting a new job, things are looking up, Job doesn't work out, but ive got over the overdraft limit by £15 in bus fares ect for the trial week, Bank issues a letter saying they are charging me £70, i call them, im told they cant wave this fee, but they can upgrade me to a new current account with a large enough overdraft to pay the old overdraft and fee and it will only cost me £15p/m and if i cant pay the £70 ill have to pay £5 p/d im over the overdraft, so i upgrade, im still on that account to this day, the £15p/m includes breakdown cover,mobile insurance, holiday insurance ect.

Nowadays i work 70 hours a week and im financial stable and to a degree sufficiently "Grown up" The time scale on all this obv cancels any chance of a claim, if there ever was one, But are those cold calling swine correct? did the bank do or sell me anything in bad taste that would justify a claim back then?

[Deleted User]

Doesn't sound like it.

Nasqueron

You can have PPI on an overdraft though not as common.

Simply way to check would be to just look at your bank statements and see if you were charged for it

dunstonh

A very small number of banks had PPI as an option on current accounts that went overdrawn (only when overdrawn. If you had an OD facility but never used it then it wouldnt be charged).

So, it is theoretically possible but very uncommon and it would clearly show as a separate transaction on your bank statement

LuxuryWoman

I had overdraft protection on my Barclays account, it was a blatant mis-sell - I actually remember the staff in the bank going up and down the queue signing people up - 'you won't get an overdraft without this' - I got back over £8k.


It probably wasn't called PPI, Barclays was OD protection, Lloyds was POP, I think. Worth looking into, it was a fee applied every month.

Chalkius

Some banks will have Overdraft PPI. I know Barclays do but it's not common.

Though remember not all PPI was missold. Can't hurt to put a claim in if you feel you had it and were missold it.