Overdraft Fees charged on a PPI loan? 13 April 2022 at 5:45PM in Reclaim bank & credit card charges 5 replies 132 views

Christian01

In my view all overdraft fees that did occur when defaulting on a lone that had a PPI attached should be refunded without question. As without the increased Amount added for the PPI most of the repayments would of cleared. 

dunstonh

In my view all overdraft fees that did occur when defaulting on a lone that had a PPI attached should be refunded without question. 

It has been discussed before and in some cases banks have refunded some of them.

However, the thing that works against that being successful in most cases is that the monthly equivalent cost of the PPI is usually less than £50pm.    Whereas the amount exceeding the overdraft is usually significantly higher and caused by other things.

Christian01

At the time of applying for the loan my bank knew that I was self employed and pushed the PPI as a must. 

Thrugelmir

Christian01 said:

At the time of applying for the loan my bank knew that I was self employed and pushed the PPI as a must. 

Seems reasonable given the cover the policy gave. They could have of otherwise declined your application. 

Christian01

Thrugelmir said:

Christian01 said:

At the time of applying for the loan my bank knew that I was self employed and pushed the PPI as a must. 

Seems reasonable given the cover the policy gave. They could have of otherwise declined your application. 

PPI did not apply cover the Self employed.

dunstonh

Christian01 said:

Thrugelmir said:

Christian01 said:

At the time of applying for the loan my bank knew that I was self employed and pushed the PPI as a must. 

Seems reasonable given the cover the policy gave. They could have of otherwise declined your application. 

PPI did not apply cover the Self employed.

Actually, most PPI did.   A significant minority did not or had onerous terms.