Reply from PCF Bank which is being taken over by Link Financial

UKAVIATOR

I received a reply from PCF Bank about my car loan PCP :

Thank you for your request for confirmation of whether any loans that you have taken out with us were subject to a discretionary commission arrangement with an intermediary. Your enquiry relates to commercial arrangements with our partners and therefore is not subject to the requirements of GDPR and personal data in relation to access to this information.

Notwithstanding the above, if your loan was entered into on or after 1 January 2021 we can confirm that a discretionary commission arrangement was not used in relation to your loan.  We trust this concludes your enquiries but please do not hesitate to contact us if you have any further questions. If your loan was entered into before 1 January 2021 it is likely that a discretionary commission arrangement was part of our commercial arrangements with our intermediaries.

Therefore we will investigate your complaint thoroughly and intend to write to you with a full response at some point after 25 September 2024 in accordance with the Financial Conduct Authority’s updated regime in relation to Discretionary Commission Arrangement complaints.  More information on this is available here:  Car finance complaints | FCA. Please find below information on “How we put things right”. Please take time to read this as it explains how we’ll deal with and respond to your complaint. In the meantime, if you have any queries, please don’t hesitate to contact me on the details below.

Yours sincerely

 PCF Bank

dunstonh

All seems fair enough and in line with expectation.

UKAVIATOR

Yes it does seem to be what most of the banks are doing. The bank is going through a takeover and it looks like Link Financial are buying PCF Bank out. Be interesting to see what happens in the future.