Is this the smallest ever PPI payout?

Former_MSE_Callum · 11 March 2019 at 4:17PM

Read MSE Callum's full blog: Is this the smallest ever PPI payout?

dunstonh · 11 March 2019 at 4:52PM

34p is not the lowest. Nil is.

We have seen multiple posts on the board from people that have said they had their complaints upheld but were getting zero payout as they never paid any premiums.

I was once aware of an endowment complaint that had 27 pence paid out. The company didnt think it was missold but upheld it anyway as it was cheaper for them to do that as it would avoid a FOS fee if the person went to the FOS.

Bermonia · 11 March 2019 at 5:03PM

As Dunst correctly points out many complaints have been upheld with no redress offered either due to no payments made towards policy or claims exceeding premiums paid.

That said there are a number of store cards that were in essence used for one off purchase to get the introductory discounts - these often pay out around 4p or so.

passatrider · 12 March 2019 at 12:01AM

My PPI payout was a cheque for 3.90 in December 2018 &#55357;&#56882;

Gettingtherequickly · 12 March 2019 at 5:56PM

A friend of mine wasn't sure if she had any, got a letter to say there was 11p, needless to say, she didn't bother with it so was amused to find it had been credited to her bank!