Barclaycard - Unable to accurately calculate your refund

ShaggyDragon

Hi All,

I've tried searching on this, but I've yet to find an answer. I had a Visa and Mastercard with Barclaycard several years ago. Barclays have agreed that I was mis-sold PPI, but they've offered me just £500 for each card. As they put it:

"Your complaint has been upheld. We have now finished investigating your complaint and we agree that we mis-sold you Payment Protection Insurance. We are sorry that this was mis-sold and we will provide a refund.

However, we have been unable to accurately calculate your refund because our investigation has been unable to find any record of the premiums you paid. As this information is required to accurately calculate your refund we have used an average value for the premiums paid, the average interest paid on premiums and the average value of interest we have paid to our customers as statutory compensation."

Now, I've definitely been mis-sold PPI, but I don't currently hold any copies of the statements etc for this period. I've started a SAR with Barclays, but I'm still waiting. I know for certain that during this portion of my life, I would have certainly bounced off of the credit limit for both cards and would certainly not have cleared them until the end.

Any ideas on how to proceed?

Thanks,

SD.

[Deleted User]

You cash their cheques.

ShaggyDragon

They have told me the refund based on their averages - just under £500.

[Deleted User]

Then that's what you accept, if you can't prove any different.

[Deleted User]

ShaggyDragon wrote: »

I don't currently hold any copies of the statements etc for this period. I've started a SAR with Barclays, but I'm still waiting.

This will effectively reduce your redress from £500 to £490 because the SAR fee is a doubtless wasted £10.:eek:

Do you really think that the Bank will suddenly "magic" up records they have already told you they no longer have?

While it's certainly been the case that records have been found through a SAR which frontline bank staff could not access, PPI complaint investigators have full access to the Bank's archive.


If you can't find any proof of payment amounts in your own records, you really have no alternative but to accept the Bank's "Averaged" offer.

ShaggyDragon

Thank you for your replies. I do not expect "magic", but I did bank with Barclays so I wondered if there was evidence of payments to the cards on my current account that maybe they'd not used in the investigation.

Also, I thought the payout was rather low as well, based on the typical Barclays payouts listed in their end of year reports.

[Deleted User]

ShaggyDragon wrote: »

based on the typical Barclays payouts listed in their end of year reports.

Note that, if records existed, you would only ever receive a refund of the amount you actually paid. It's entirely possible, therefore, that an "averaged" redress payment might actually exceed what you actually paid!

You'll never know for sure...