Is this classed as PPI

Terrysdelight
Terrysdelight Posts: 1,202 Forumite
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in Reclaim bank & credit card charges
Hi

My husband was mis-sold a bank account - basically told he would lose his overdraft if he did not upgrade to their fee paying account.

Is this PPI. Can he still claim - the bank was Natwest.

Comments

  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    PPI is a kind of insurance and has nothing to do with allegedly being told that an overdraft could only be obtained by upgrading to a fee-paying account. How would this be a complaint about insurance?

    In fact, if the overdraft was indeed dependent upon taking a fee-paying account then I can't see there is any complaint at all.
  • Terrysdelight
    Terrysdelight Posts: 1,202 Forumite
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    Moneyineptitude wrote: »
    PPI is a kind of insurance and has nothing to do with allegedly being told that an overdraft could only be obtained by upgrading to a fee-paying account. How would this be a complaint about insurance?

    In fact, if the overdraft was indeed dependent upon taking a fee-paying account then I can't see there is any complaint at all.

    The overdraft wasn't dependent upon taking a fee-paying account, it was just a rue to force people to sign up to expensive accounts which included lots of things like holiday insurance. Again, insurance that would have been useless as didn't cover existing medical problems.
  • dunstonh
    dunstonh Posts: 116,357 Forumite
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    The overdraft wasn't dependent upon taking a fee-paying account, it was just a rue to force people to sign up to expensive accounts which included lots of things like holiday insurance.

    Although a lot of PBAs did have improved terms for borrowing on overdraft. Not all though.
    Again, insurance that would have been useless as didn't cover existing medical problems.

    We are not talking about insurance though. And actually, many types of PPI will only refuse coverage on the condition in question and not on unrelated conditions. So, its not always useless.
    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.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    Terrysdelight wrote: »
    The overdraft wasn't dependent upon taking a fee-paying account, it was just a rue to force people to sign up to expensive accounts which included lots of things like holiday insurance. Again, insurance that would have been useless as didn't cover existing medical problems.
    If your fee-paying account didn't include improved overdraft terms then you may have cause for complaint. I'd check that out before making such a complaint though.

    Any "holiday insurance" was not PPI, of course, so I certainly wouldn't attempt to call it that in any complaint. Again, though, have you checked that the insurance would not have covered your own individual circumstance? No point complaining that it didn't cover existing medical conditions if you didn't actually suffer from any.

    Your original question was if this can classed as PPI.

    Clearly it's not Payment Protection Insurance.

    Whether you have a valid mis-selling complaint about your fee paying account is a separate issue.
  • savingholmes
    savingholmes Posts: 27,355 Forumite
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    Terrysdelight wrote: »
    Hi

    My husband was mis-sold a bank account - basically told he would lose his overdraft if he did not upgrade to their fee paying account.

    Is this PPI. Can he still claim - the bank was Natwest.
    This was the grounds for my packaged bank account reclaim against Barclays - they paid out.
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  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    savingholmes wrote: »
    This was the grounds for my packaged bank account reclaim against Barclays - they paid out.
    Regardless, it's still not PPI.
  • dunstonh
    dunstonh Posts: 116,357 Forumite
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    savingholmes wrote: »
    This was the grounds for my packaged bank account reclaim against Barclays - they paid out.

    PPI stands for payment protection insurance. You cannot complain about a PPI sale if you didnt have PPI. PPI has its own issues.
    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.
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