Santander avoid PPI Claims more than 6 years old

missile

Not suggesting this is a scam, but is this sharp practice by Sanatander to avoid paying out on old PPI claims? >

If our relationship with you ended more than six years ago we don't retain the documentation, so we're not obliged to give this information in accordance with guidelines set by the Financial Conduct Authority

timeline

SonOf

Not suggesting this is a scam, but is this sharp practice by Sanatander to avoid paying out on old PPI claims? >

The FCA recommends documents are retained for 6 [STRIKE]months [/STRIKE] years [oops] after the end of the business relationship. This is to comply with data protection laws that require destruction of data no longer required.

Some documents get retained for longer with firms. Indeed, you will find people with Santander cases getting paid out where documentation was well over a decade ago. It really depends on which distribution arm it is, what the documents were for and whether you are still a customer with them or not.

[Deleted User]

missile wrote: »

is this sharp practice by Santander to avoid paying out on old PPI claims?

"If our relationship with you ended more than six years ago we don't retain the documentation, so we're not obliged to give this information in accordance with guidelines set by the Financial Conduct Authority"
https://www.telegraph.co.uk/finance/personalfinance/insurance/incomeprotection/8495161/PPI-timeline-of-the-mis-selling-scandal.html

Six years is indeed the period recommended by the FCA that financial records should be kept. This is nothing new, indeed your link is from 2011.
It's certainly not a scam, but it's definitely something which people with no archive of their own have fallen foul of while attempting to complain about PPI etc.
Understand, though, that complainants who were still customers often found the Bank had retained records going back decades.

It's all moot now since PPI complaints ended in August 2019.

SonOf wrote: »

The FCA recommends documents are retained for 6 months after the end of the business relationship.

Shurely shome mishtake?

missile

Please be advised:
I am a Santander customer.
My application was submitted long before the deadline.
I do understand, Santander have complied with FCA guidelines.
I am aware other financial institutions have provided information going back many more years than they were obligated to do.
I have no intention of making a complaint.
I thought Santander could have been more helpful and was interested to hear views from others :A

AnotherJoe

missile wrote: »

Not suggesting this is a scam, but is this sharp practice by Santander to avoid paying out on old PPI claims? >

Its Santander trying not to get fined by the authorities (fines up to 10% of turnover !! * ) and at the same time, that has a nice knock on PPI claims. But its GPDR being the prime mover with a bonus for PPI (that, lets face it will be quite minimal after all this time anyway)


*Slightly different circumstances as it was more egregious but todays news is a possible £184M fine against BA for breaching data protection.

foxtrotoscar_2

missile wrote: »

Not suggesting this is a scam, but is this sharp practice by Sanatander to avoid paying out on old PPI claims? >



timeline

Your 'timeline' linky goes to an article from 2011 about the Lloyds Banking Group. What am I missing?

Rainbowgirl84

missile wrote: »

Please be advised:
I am a Santander customer.
My application was submitted long before the deadline.
I do understand, Santander have complied with FCA guidelines.
I am aware other financial institutions have provided information going back many more years than they were obligated to do.
I have no intention of making a complaint.
I thought Santander could have been more helpful and was interested to hear views from others :A

In what way if they no longer have any information?

AnotherJoe

missile wrote: »

I thought Santander could have been more helpful and was interested to hear views from others

In what specific way do you think they could have been more helpful?
What did they say to you?

Also, I've just noticed you said you are a santander customer so the directive about not retaining data more than 6 years old doesnt apply

foxtrotoscar_2

AnotherJoe wrote: »

In what specific way do you think they could have been more helpful?
What did they say to you?

Also, I've just noticed you said you are a santander customer so the directive about not retaining data more than 6 years old doesnt apply

It may...see post #2. I am a current bank account holder with Santander. I wouldn't expect them still to have info. on my mortgage from 20 years ago. They have no need to retain it.

The_squirrell

foxtrotoscar wrote: »

It may...see post #2. I am a current bank account holder with Santander. I wouldn't expect them still to have info. on my mortgage from 20 years ago. They have no need to retain it.

I would agree with this. Accounts closed outside of retention periods are generally deleted etc, but a customer record will still remain with details of any other accounts that are either open or within those retention periods. Once all closed accounts fall outside of the retention periods, then the complete customer record is then removed in line with Data Protection guidelines.


So for example..... I opened a saving account and a mortgage account thirty years ago. I transferred my mortgage 20 years ago to another provider but kept a very small balance in my savings account but haven't used it for years. I would expect Santander to have no record of my mortgage, but they would still have records of me as a customer and details of my savings account going back the full thirty years.

missile

Thanks for your comments :-)