First Direct card PPI

Filo25

MoorMum wrote: »

Received a payment of £850 plus into my bank this morning for PPI reclaim. No details but they did say they'd send a letter so I'll have a look when I get home. Not bad though. Hoping for similar success with MBNA now!

I got the letter from FD a couple of days after receiving the cash, so you should have it shortly.

Congrats on a good result!

MoorMum

Ok, so I’ve had the letter. Mentions premium plus interest at x , plus interest at 8%. Less tax .

Doesn’t actually say what the interest was on the premium though. Is this right ?

Also did anyone see in the financial press the court case today when the petitioner has been refunded all of the commission on the PPI premium rather than just that considered excessive?

[Deleted User]

MoorMum wrote: »

. Mentions premium plus interest at x , plus interest at 8%. Less tax .

Doesn!!!8217;t actually say what the interest was on the premium though. Is this right ?

Also did anyone see in the financial press the court case today when the petitioner has been refunded all of the commission on the PPI premium rather than just that considered excessive?

Interest payable to you is 8% simple, plus any associated interest.

If you want a comprehensive breakdown of the calculations, you should request these from the Bank.

Since a Plevin Refund of commission only applies to rejected complaints, you should also have no expectation of any additional payments now or in the future.

For anyone previously rejected,however, here is the most up-to-date information;

https://www.moneysavingexpert.com/news/reclaim/2018/07/judge-rules-couple-can-reclaim-all-of-their-ppi-commission?_ga=2.213452113.45491086.1521247181-127485272.1512091506