Rejected by Santander

wllcnur

I had contacted Santander about possible PPI on a storecard provided by GE but it was rejected. I have just received a letter to say they "couldn't deal with this aspect of your complaint until the Financial Conduct Authority set out its position on undisclosed commission." It goes on to say that new rules & guidance from FCA states that the storecard account must have been opened on or after 6 April 2008 and the redress is only calculated on PPI charged after 6 April 2007. I'm a bit confused as I thought PPI could be claimed further back than this.

dunstonh

wllcnur wrote: »

I had contacted Santander about possible PPI on a storecard provided by GE but it was rejected. I have just received a letter to say they "couldn't deal with this aspect of your complaint until the Financial Conduct Authority set out its position on undisclosed commission." It goes on to say that new rules & guidance from FCA states that the storecard account must have been opened on or after 6 April 2008 and the redress is only calculated on PPI charged after 6 April 2007. I'm a bit confused as I thought PPI could be claimed further back than this.

You have had your PPI complaint rejected.
Rejected complaints then look at Plevin (undisclosed commission). However, that only applies where the credit agreement was still in force in 2007.

-taff

PPI cannot be claimed. It must be complained about.


PPI can be complaned about from much further back as long as the firms were regulated and the info exists. You bought from someone who wasn't regulated until 2005.

wllcnur

Thanks, that all makes sense now