Natwest PPI

Millown

New to this forum so please be gentle... I've successfully made 4 PPI claims a lot of them thanks to advice on this site. I have however, found Natwest really problematic. I sent them a copy bank statement (dated 1998) depicting 'Credit Card Repayment Protector' being deducted at GBP30.67 per month on a balance of circa GBP4151 per month. I rang them and they have stated that this is CPP and not PPI. I know that this is not the case and have told them that. Any advice at all please?

[Deleted User]

Answers are available on your many identical threads.

[Deleted User]

Millown wrote: »

I have however, found Natwest really problematic. I sent them a copy bank statement (dated 1998) depicting 'Credit Card Repayment Protector' being deducted at GBP30.67 per month on a balance of circa GBP4151 per month. I rang them and they have stated that this is CPP and not PPI.

Sounds exactly like an ANNUAL figure for CPP, I'm afraid.

You have just one statement and ,have made an incorrect assumption that this was your monthly PPI payment.

Please now stop spamming the board with identical queries on several threads and several days.

The answer will not change.

Placida

Millown wrote: »

New to this forum so please be gentle... I've successfully made 4 PPI claims a lot of them thanks to advice on this site. I have however, found Natwest really problematic. I sent them a copy bank statement (dated 1998) depicting 'Credit Card Repayment Protector' being deducted at GBP30.67 per month on a balance of circa GBP4151 per month. I rang them and they have stated that this is CPP and not PPI. I know that this is not the case and have told them that. Any advice at all please?

Credit Card Repayment Protector is PPI.
From FOS decisions

“Firstly, there’s a box on the form about Credit Card Repayment Protector. It’s not explained what this means or that it’s an optional product. I can see it’s “recommended” and there’s only a “yes” option in relation to taking it out. Mr M told us he thought this product was part of the credit card and there’s nothing on the application form to say it isn’t.”


“Mr C says that he thought that he had to have the insurance in order to be able to get the credit card. I do not agree with this because I have seen his signed credit card application. Although it is not very legible throughout, I can see that there is a separate section in it headed “Credit Card Repayment Protector” where Mr C has signed. On balance I am satisfied that he signed this section to accept PPI insurance.”

“In 2004 Mr Y went into a NatWest branch and signed an application form for a credit card. The box on the form for requesting PPI, which NatWest called ‘credit card repayment protector’ insurance, was ticked. The monthly premium for this cover was then added to his card statements, until the PPI policy was cancelled in 2010.”

“Mr S took out a credit card with NatWest in 1998. In 2000 PPI was added to his credit card account. The policy cost 77p for every £100 outstanding on his credit card balance each month and would’ve paid off 10% of his balance each month for up to 12 months at a time if he hadn’t been able to work because of accident, sickness or redundancy. It also would’ve paid off the whole balance if he’d died.”

Your monthly payment of £30.67 on a balance of circa £4151 seems to suggest you were paying the above insurance premium.

NatWest CCP Credit Card Plus cost £36.99 a year

[Deleted User]

Placida wrote: »

NatWest CCP Credit Card Plus cost £36.99 a year

This is certainly information the OP could use to counter the Bank's assertion that the insurance was CPP rather than PPI. But was that definitely the price in 1998?

Also, why are the Bank saying that the insurance was not PPI in the first place?

There is nothing in your quotes of FOS decisions which indicate that the Bank was denying the Insurance was PPI?

Placida

Moneyineptitude wrote: »

This is certainly information the OP could use to counter the Bank's assertion that the insurance was CPP rather than PPI. But was that definitely the price in 1998?

One would expect the bank to be able to answer that with the exact yearly figure.

Moneyineptitude wrote: »

Sounds exactly like an ANNUAL figure for CPP, I'm afraid.

. Which annual figure for NatWest CPP did it sound exactly like to you?

Moneyineptitude wrote: »

Also, why are the Bank saying that the insurance was not PPI in the first place?

Lack of knowledge of the terms used on credit card applications in 1998?

Moneyineptitude wrote: »

There is nothing in your quotes of FOS decisions which indicate that the Bank was denying the Insurance was PPI?

There doesn’t have to be. Why do you think there should be?
The extracts refer to the term Credit Card Payment Protector on NatWest credit card application forms! Who do you think sent the FOS the forms?

[Deleted User]

Placida wrote: »

Which annual figure for NatWest CPP did it sound exactly like to you?

The one which an isolated statement might cause confusion with.

Placida wrote: »

There doesn't have to be. Why do you think there should be?

Perhaps because that is the problem currently faced by the OP?

Millown

Any responses to my posts did not come through until this morning hence the reason I reposted, as I did not see them appear. I did not mean to create spam and as a new user I'm still getting familiar with the site. That in mind, perhaps a less curt response maybe helpful?

[Deleted User]

Millown wrote: »

Any responses to my posts did not come through until this morning

Your first post was responded to within two minutes of you posting it on the 6th February. Here's the link in case you still can't see it:
http://forums.moneysavingexpert.com/showthread.php?p=73839175

It is not considered good etiquette to post the same query multiple times, regardless of whether you have received a response.

You need to also understand that it happens frequently, hence the "curt" reactions.

Regardless of all that, do you have no response to the hypothesis that the Bank may be correct and that your sole statement shows an annual payment for CPP rather than PPI?

Can you not find any other statements?

Millown

Been doing some digging and managed to find a pdf on the Natwest Website that shows that their CPP was priced at GBP36.99 per annum. Am going back to Natwest with this information. Thanks for your advice and I will keep my thread up to date with any developments.

sun73

If this helps you, I received a copy of my NatWest credit agreement and it had a box that said Credit Card Repayment Protector and a separate box for CPP which covered fraud loss etc, so I think your policy was PPI.