MSE News: Vanquis Bank to pay customers £169m

samcov72 wrote: »

Hi all. I received a letter yesterday (31/05) to advise the process was more complex than they thought & everyone due anything would have it by February 2019!!

We received the same one.

I had this, I was offered the product and declined it and because I initially paid my card off in full every month I didn't realise they had put it on anyway. I wanted a credit increase and wasn't getting one so I put a purchase on the card and paid it over 6 months, it was at that point I realised I was paying ROP. I called to complain and they refused to refund the payments but did cancel the policy.

They wrote to me on Saturday asking me if I wanted to reinstate the policy, on a card I haven't used in about 5 months - very strange.

CakeCrusader wrote: »

I've just been emailed "You don't need to do anything!!; We have agreed with the FCA to make refunds by reducing outstanding balances where possible. Therefore, we have credited your account with £XXX. This will be shown on your statement dated XXXX as 'ROP Interest Refund'."

You might want to check out your refund. It seems that Vanquis is getting the calculations wrong by stopping them too soon and not refunding any over limit charges. Naughty of them! But you can complain and get more https://debtcamel.co.uk/vanquis-rop-3-refunds-wrong.../

Nothing here yet

dazzaofdagenham wrote: »

Anyone had a payment ?

I wanted to close my vanquis down, but wanted to get this sorted first

Yup, a couple of weeks ago (I posted above). It went off my cc balance (don't forget to make a payment too as this technically isn't a credit). If you close your account they will still refund you.