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Just Been Told I Can Claim PPI via Phone Call. Can I?

konn1ch1ha
konn1ch1ha Posts: 247 Forumite
Part of the Furniture 100 Posts Name Dropper Combo Breaker
edited 15 January 2018 at 7:58PM in Reclaim PPI & other insurance
Hello all,

I have recently just received a phone call saying I can claim £x from mis-sold or PPI (to paraphrase). I'm dubious as most cold-callers tend to be scammers or life insurance.

I mentioned that I've never had any loans apart from student loans and my current overdraft. I don't have a mortgage.

I still don't really know how PPI works. Can someone please ELI5?

He asked for my bank details, (not the long card number) sort code and account number to pay money straight into my account. Cynical me responded I needed to do some research and he said he'll call me another time.

He also knew my name, age (minus a year) and previous address from which my 'claim' had taken place and been accepted.

It sounded like a busy call centre he was calling from and very convincing.

Is it genuine?
«1

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,383 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    No, of course not.
  • konn1ch1ha
    konn1ch1ha Posts: 247 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Deleted_User wrote: »
    No, of course not.

    Can you explain why?
  • [Deleted User]
    [Deleted User] Posts: 35,383 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Because call centres don't randomly phone people up to give them PPI refunds from policies they never had.
  • dunstonh
    dunstonh Posts: 121,380 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    He also knew my name, age (minus a year) and previous address from which my 'claim' had taken place and been accepted.

    Probably has got hold of data from marketing lists.
    It sounded like a busy call centre he was calling from and very convincing.

    most cold callers work out of call centres. It is the worst side of cold calling with targets, sackings and all sorts of sales pressure to get people signed up.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • konn1ch1ha
    konn1ch1ha Posts: 247 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    dunstonh wrote: »
    Probably has got hold of data from marketing lists.



    most cold callers work out of call centres. It is the worst side of cold calling with targets, sackings and all sorts of sales pressure to get people signed up.

    But what use would he get from my sort code and account number? Is that signing up to anything?
  • elsien
    elsien Posts: 37,595 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    If PPI is payment protection insurance on a credit card or loan and you've never taken these out then how can you put possibly have been missold insurance on said non-existent loan??
    All shall be well, and all shall be well, and all manner of things shall be well.

    Pedant alert - it's could have, not could of.
  • konn1ch1ha
    konn1ch1ha Posts: 247 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    elsien wrote: »
    If PPI is payment protection insurance on a credit card or loan and you've never taken these out then how can you put possibly have been missold insurance on said non-existent loan??

    Because it can be on an overdraft, which I have and have used for several years.
  • elsien
    elsien Posts: 37,595 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    And did you pay additional fees for insurance on your overdraft? This would show on your bank statements as a separate transaction and was quite uncommon.
    All shall be well, and all shall be well, and all manner of things shall be well.

    Pedant alert - it's could have, not could of.
  • konn1ch1ha
    konn1ch1ha Posts: 247 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    elsien wrote: »
    And did you pay additional fees for insurance on your overdraft? This would show on your bank statements as a separate transaction and was quite uncommon.

    I honestly don't know the answer to that.
  • konn1ch1ha
    konn1ch1ha Posts: 247 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    elsien wrote: »
    And did you pay additional fees for insurance on your overdraft? This would show on your bank statements as a separate transaction and was quite uncommon.

    I know I pay for fees and interest on the OD.
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