HSBC PPI redress payment

Morning all - just doing my weekly bank statement check and I've had a payment labelled as above.  As I was overdrawn it's very welcome, anyone else just received one? 
£216 saved 24 October 2014

Comments

  • dunstonh
    dunstonh Posts: 115,734
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    Probably everyone else who complained to HSBC and had their complaint upheld.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • youth_leader
    youth_leader Posts: 2,430
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    I did put in a PPI claim and did receive an amount a few years ago, I didn't claim the tax.  Nice surprise, just been to Aldi to replenish my empty cupboards! 
    £216 saved 24 October 2014
  • I did put in a PPI claim and did receive an amount a few years ago, I didn't claim the tax.  Nice surprise, just been to Aldi to replenish my empty cupboards! 

    It could be a recalculation or they paid out the Plevin stuff and then decided to do the whole lot.

    Tax is only paid on the interest element, check the calculation when they post it to you as you might be able to claim some back this year. Remember if you are doing so, only declare the INTEREST element, not the whole refund or you'll end up owing HMRC money
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