Bank changed decision of ppi money already paid to us

Emma2208

This is an odd one regarding a ppi payment we received a letter from the bank just over a week ago in full and final settlement of £xxx amount and it was paid into our account just under a week ago. Today we have received another letter saying that they are no longer be upholding our complaint and they have changed their decision on the money owed. So we don't know where we stand and if we have to pay the money back.

We phoned the financial ombudsman but the man we spoke to hadn't heard of this before.

Many thanks

[Deleted User]

It doesn't really matter if the man had heard of it or not.

It's not uncommon and you can escalate to FOS if you disagree with the decision.

SonOf

We phoned the financial ombudsman but the man we spoke to hadn't heard of this before.

The FOS telephone line is not manned by those that handle complaints and is largely script based. So, don't expect much knowledge from there.

And yes, banks have changed their minds on decisions before (in both directions).

Emma2208

Thank you for the replies

Mrsn

I would raise it as a complaint directly to the ombudsman so that is assigned to the relevant caseworker where you should at least then get the correct advice. It’s not unheard of for them to relook at offers made etc. Out of interest was the date of the letter around the time the payment was issued?

Emma2208

Hi it was 7 days after the offer letter to being paid the ppi then receiving another letter today saying it was a mistake.
Got all the evidence to say we were mis-sold

[Deleted User]

Emma2208 wrote: »

Hi it was 7 days after the offer letter to being paid the ppi then receiving another letter today saying it was a mistake.

No need to refer it to the Ombudsman until or unless the Bank demand the money back.