HSBC PPI refund £30

kazzyb123

Hi,
My partner had PPI on his credit card but he was mis sold because he was self employed at the time.
Is there a formula to work out how much should be refunded please?. £30 has been paid into his account but we have had no letter yet.
I don’t have the card statements but I do have bank statements showing the amounts paid onto the card at the time.
They have given us a date when the PPI started which was 3 years after taking out the card. If this date is correct I have added up what was spent between Oct 05 & Oct 06 and it was £1500.

£30 sounds very low to me but I’m not sure how it is calculated,

Any idea if it seems right please?

Thanks.

[Deleted User]

Ask the Bank to explain their calculations.

antrobus

kazzyb123 wrote: »

...
I don’t have the card statements but I do have bank statements showing the amounts paid onto the card at the time.
They have given us a date when the PPI started which was 3 years after taking out the card. If this date is correct I have added up what was spent between Oct 05 & Oct 06 and it was £1500....

If you were paying off the card in full each month, then no PPI premiums would have been charged, and there would be nothing to refund.

So the amounts you paid to HSBC are no indication of what refund to expect.

Nasqueron

kazzyb123 wrote: »

Hi,
My partner had PPI on his credit card but he was mis sold because he was self employed at the time.

Not necessarily, much PPI covered the self-employed

kazzyb123 wrote: »

Is there a formula to work out how much should be refunded please?. £30 has been paid into his account but we have had no letter yet.
I don!!!8217;t have the card statements but I do have bank statements showing the amounts paid onto the card at the time.
They have given us a date when the PPI started which was 3 years after taking out the card. If this date is correct I have added up what was spent between Oct 05 & Oct 06 and it was £1500.

£30 sounds very low to me but I!!!8217;m not sure how it is calculated,

Any idea if it seems right please?

Thanks.

PPI was charged around 70-80p per £100 of balance on the card. A total spend of £1500 would thus be less than £15 in PPI premiums for that month (assuming all spent in one go). If that spent was over a year and was paid off monthly or most of it was repaid it's quite possible you could have only paid a few pounds in PPI. Add on 8% simple interest per year and it's still very low

kazzyb123

Letter has arrived today saying PPI was on,y for one month but I’ve just noticed that I think they have the wrong card number.
Is there a template letter for an SAR request please so that I can see exactly which info they have? I have read that these are free now too,

Thanks

[Deleted User]

You don't need a template.

Tell tell them that you are making a SAR.

Nasqueron

kazzyb123 wrote: »

Letter has arrived today saying PPI was on,y for one month but I’ve just noticed that I think they have the wrong card number.
Is there a template letter for an SAR request please so that I can see exactly which info they have? I have read that these are free now too,

Thanks

A letter requesting it is fine though it's more than possible to change a credit card number and still be the same account e.g. if there was fraud on the account and a card was replaced