Awaiting Natwest PPI payment.

ems85

Hi everyone

I recently had a successful claim against Natwest for mis-sold PPI.
I had a text message on Tuesday to say they aim to make payment by 1/1/18!
I was hoping to have this money back before xmas and was wondering if anyone knows whether it's likely to take this long or if payments are usually made quicker.

Thanks

[Deleted User]

No way of knowing. Expect it by 1 Jan and you shouldn't be disappointed.

ems85

Thanks for your reply.
I understand that - I was just wondering what others experiences are that have had ppi paid back from Natwest recently.

[Deleted User]

It won't be relevant. Timings fluctuate hugely, especially at this time of year.

[Deleted User]

ems85 wrote: »

I was just wondering what others experiences are that have had ppi paid back from Natwest recently.

What if "others" said they had been waiting for three months? Would that assist you in any way? The answer is that the experience (even recent) of others is irrelevant to your individual case.

It's also rare for people to post for long after they have been successful.

Basically, only NatWest can tell you when you will receive your redress..

Mersey_2

ems85 wrote: »

Hi everyone

I recently had a successful claim against Natwest for mis-sold PPI.
I had a text message on Tuesday to say they aim to make payment by 1/1/18!
I was hoping to have this money back before xmas and was wondering if anyone knows whether it's likely to take this long or if payments are usually made quicker.

Thanks

NatWest usually pay within a fortnight, but it will depend whether payment is being sent via BACS or cheque.


HSBC are the slowest by all accounts (I saw one redress payment take 90 days, even after 2 branch visits and a complaint).


Clearly 25/12/17, 26/12/17 and 01/01/18 are Bank Holidays in any event, but banks' IT systems appear not to omit these from their correspondence, ie in the past I've seen letters and text messages referring to payments being made on dates which are a Sunday and even Christmas Day itself!


Incidentally, if a cheque: the good news is that from this month NatWest have speeded up their cheque processing time from 6 to 3 working days (when payments are fully cleared), although cheques paid in - including at ATMs - will now show on statements as having been banked the same day, rather than the next day as was the case.

ems85

Mersey wrote: »

NatWest usually pay within a fortnight, but it will depend whether payment is being sent via BACS or cheque.


HSBC are the slowest by all accounts (I saw one redress payment take 90 days, even after 2 branch visits and a complaint).


Clearly 25/12/17, 26/12/17 and 01/01/18 are Bank Holidays in any event, but banks' IT systems appear not to omit these from their correspondence, ie in the past I've seen letters and text messages referring to payments being made on dates which are a Sunday and even Christmas Day itself!


Incidentally, if a cheque: the good news is that from this month NatWest have speeded up their cheque processing time from 6 to 3 working days (when payments are fully cleared), although cheques paid in - including at ATMs - will now show on statements as having been banked the same day, rather than the next day as was the case.

Thanks so much for the helpful answer Mersey!!

I'm not sure how the payment will be sent, i do have a Natwest account so i'm assuming it will be BACS.

I did also wonder about the bank holiday date as clearly i wouldn't be able to receive payment on New years day.

I had no idea that Natwest had sped up cheque processing times either - so thanks again, very helpful.

[Deleted User]

ems85 wrote: »

very helpful.

but you're still none the wiser as to when you will be paid...

ems85

Just incase anyone is wondering...
As Mersey said above, all done and dusted within 2 weeks from receiving text saying they had received my acceptance form.
Had text from Natwest on 8th Dec to say that had made payment by cheque and to allow 10 working days. I received the cheque yesterday.

[Deleted User]

ems85 wrote: »

Had text from Natwest on 8th Dec to say that had made payment by cheque and to allow 10 working days. I received the cheque yesterday.

Congratulations.

Mersey_2

ems85 wrote: »

Just incase anyone is wondering...
As Mersey said above, all done and dusted within 2 weeks from receiving text saying they had received my acceptance form.
Had text from Natwest on 8th Dec to say that had made payment by cheque and to allow 10 working days. I received the cheque yesterday.

That's great to hear. Thanks for updating to let us all know.