Lloyds TSB - PPI Bonus / Mis-selling etc.

dbramley

Not sure if this has been mentioned anywhere as I can't see it posted but Lloyds TSB staff actually get a bigger bonus for being compliant than for selling PPI insurance.

So this should mean that sales staff no longer have a greater incentive to sell PPI insurance, ensuring that the customer is fully aware that PPI is optional on any loan taken out.

Good news for customers and sales staff!

dannynixon

How do you know this? I hope other banks take their lead

jonesMUFCforever

I disagree with OP.
Sellers, sorry account managers get their bonus on a % of target achieved.

dannynixon

Where did you get this information dbramley?

dbramley

Because my OH works there and has just been given the new bonus structure.

Started from this week.

jonesMUFCforever

The first paragragh of your original post is 100% correct.

The second one is 100% incorrect.

Managers have to get a % of loans with PPI or they are in for a coaching plan and trouble.

waddy80

New bonus structure? Don't know where you have got this from. They would have started it at the beginning of the quarter (1st week of April), if there was one. Unless it is being trailed in a certain area.

mrmajika

Its double bonus in LTSB call centres for a PPI sale.

That is, you get twice as much for a loan or credit card with PPI attached.