Barclaycard made offer through FOS but are now saying they are recalculating can they

theirmum

I made a claim to Barclaycard for PPI, which they upheld but because it is from 1996 they no longer have paperwork (neither do I) so decided I was due nothing! I took the case up with the FOS and through them Barclaycard made an offer of £1237.70p (the average payout for a person with the limit I had on my card) I accepted the offer and this was passed back to Barclaycard. Fast forward 2 weeks and as I have heard nothing from Barclaycard directly I gave them a call to see what the procedure is, I have now been told that they have up to 40 days to recalculate the figure! Surely if they make an offer and I accept they then have a certain amount of time to payout?

[Deleted User]

theirmum wrote: »

Surely if they make an offer and I accept they then have a certain amount of time to payout?

Yes, but surely only the correct amount.

If the offer is wrong, they will need to recalculate.

societys_child

. . . they have up to 40 days to recalculate the figure! Surely if they make an offer and I accept they then have a certain amount of time to payout?

From what you've posted, that would be up to 40 days?

theirmum

The offer was a goodwill gesture so I can see how that can be wrong?

[Deleted User]

You didn't say it was it was a goodwill gesture.

You said they upheld the complaint and calculated the redress.

If it's a goodwill gesture they can withdraw the whole thing.

theirmum

As stated above - They no longer have any paperwork for me only know I had PPi on my account so they have offered me what they believe would be the likely amount I would be due using the limit I had at the time and what they have typically paid out to others with the same limit.

My question was can they make an offer through the FOS I accept it though the FOS and then they send it back to their calculations department?? Surely if they have made an offer and I have accepted it they should have a period of time to then make the payment?

[Deleted User]

So that's not a goodwill payment. That's an upheld complaint, and they calculate redress using averages.

Again - if they feel the calculation is incorrect, they can fix it.

From your post, they have up to 40 days to make the payment.

theirmum

The Lady at the FOS called it a goodwill payment which is why I called it that.

My question is what is the legislation with regards to payment after an offer is made? I know they have told me they will get back to me within 40 days but I want to know is that correct? Does anyone Actually know?

[Deleted User]

There's no legislation. Timing will vary by provider.

The longer it takes, the more you get, as the interest builds.

theirmum

Right ok, Thanks suppose I will know in 40 days

societys_child

Thanks suppose I will know in 40 days

"Up to 40 days". It might not take that long . . .