Rbs ppi

Angela_Findon

Hi we reclaimed PPI from the RBS for an old closed account - They have written back saying we are entitled to £555.73 . However, before they will send us the money they want us to sign a document, in which it states the following
" I/we wish to accept the Banks net offer of £555.73 in full and final settlement of all or any claims which I/we might have against The Royal Bank of Scotland Group or any subsidiary companies in respect of my/our The Royal Bank of Scotland overdraft Payment Protection Insurance Policy number xxxxxxxxxx .

Now we have had received a couple of other PPI claims from other companies and have never been asked to sign anything to get the money owed to us. I was intending to also put claims in for bank charges for when the account was active against RBS. But does this mean if we sign this letter we cannot go forward with any more claims. and why do we need to sign before getting money if its our money surely they should refund it without a signature like the others seem to be able to do, why is it an offer? Could that suggest there could be more owed?
Help and advice very much appreciated...i am in a quandary....what would you advise?
Many thnaks in advance.

antrobus

Angela_Findon wrote: »

Hi we reclaimed PPI from the RBS for an old closed account - They have written back saying we are entitled to £555.73 . However, before they will send us the money they want us to sign a document, in which it states the following
" I/we wish to accept the Banks net offer of £555.73 in full and final settlement of all or any claims which I/we might have against The Royal Bank of Scotland Group or any subsidiary companies in respect of my/our The Royal Bank of Scotland overdraft Payment Protection Insurance Policy number xxxxxxxxxx .

Now we have had received a couple of other PPI claims from other companies and have never been asked to sign anything to get the money owed to us....

If you are satisfied that the £555.73 is indeed what you are owed in respect of "Payment Protection Insurance Policy number xxxxxxxxxx", then sign the document.

Angela_Findon wrote: »

..I was intending to also put claims in for bank charges for when the account was active against RBS. But does this mean if we sign this letter we cannot go forward with any more claims. and why do we need to sign before getting money if its our money surely they should refund it without a signature like the others seem to be able to do, why is it an offer? Could that suggest there could be more owed?
Help and advice very much appreciated...i am in a quandary....what would you advise?
Many thnaks in advance.

No. Your quote from then document specifically relates to one PPI policy. It asks for your confirmation that it is a "full and final settlement". When you received money from your other PPI claims they were also full and final settlements. This just makes it plain.

Of course, a claim for bank charges on an "old closed account" isn't likely to produce a big pay day.

dunstonh

It is normal to be required to sign an acceptance. The fact you haven't in the past is the unusual outcome rather than the norm.

It is probable, from the wording you have used, that there is a goodwill gesture as part of this redress (or it is fully a goodwill gesture) rather than a full uphold and that is why the signature is required.

But does this mean if we sign this letter we cannot go forward with any more claims.

In respect of this account, then yes.

I was intending to also put claims in for bank charges for when the account was active against RBS.

On what basis?
If its unfair bank charges then dont bother. The banks won that case in 2009. If its packaged bank charges then that has nothing to do with PPI. So, accepting this offer has no impact on an unrelated subject.

[Deleted User]

antrobus wrote: »

Of course, a claim for bank charges on an "old closed account" isn't likely to produce a big pay day.

Or even a pay day at all. Banks won't consider complaints about historical bank charges.