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  • FIRST POST
    • Terrysdelight
    • By Terrysdelight 13th Feb 18, 4:50 PM
    • 925Posts
    • 138Thanks
    Terrysdelight
    Is this classed as PPI
    • #1
    • 13th Feb 18, 4:50 PM
    Is this classed as PPI 13th Feb 18 at 4:50 PM
    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.
Page 1
    • Moneyineptitude
    • By Moneyineptitude 13th Feb 18, 10:34 PM
    • 20,002 Posts
    • 10,985 Thanks
    Moneyineptitude
    • #2
    • 13th Feb 18, 10:34 PM
    • #2
    • 13th Feb 18, 10:34 PM
    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
    • By Terrysdelight 13th Feb 18, 11:33 PM
    • 925 Posts
    • 138 Thanks
    Terrysdelight
    • #3
    • 13th Feb 18, 11:33 PM
    • #3
    • 13th Feb 18, 11:33 PM
    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.
    Originally posted by Moneyineptitude
    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
    • By dunstonh 13th Feb 18, 11:51 PM
    • 92,209 Posts
    • 59,376 Thanks
    dunstonh
    • #4
    • 13th Feb 18, 11:51 PM
    • #4
    • 13th Feb 18, 11:51 PM
    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). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • Moneyineptitude
    • By Moneyineptitude 14th Feb 18, 7:24 AM
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    Moneyineptitude
    • #5
    • 14th Feb 18, 7:24 AM
    • #5
    • 14th Feb 18, 7:24 AM
    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.
    Originally posted by Terrysdelight
    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
    • By savingholmes 22nd Feb 18, 9:23 PM
    • 8,954 Posts
    • 17,002 Thanks
    savingholmes
    • #6
    • 22nd Feb 18, 9:23 PM
    • #6
    • 22nd Feb 18, 9:23 PM
    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.
    Originally posted by Terrysdelight
    This was the grounds for my packaged bank account reclaim against Barclays - they paid out.
    Today is a new day 93/310 10 a day Mar Challenge DFD August 2021
    • Moneyineptitude
    • By Moneyineptitude 22nd Feb 18, 9:45 PM
    • 20,002 Posts
    • 10,985 Thanks
    Moneyineptitude
    • #7
    • 22nd Feb 18, 9:45 PM
    • #7
    • 22nd Feb 18, 9:45 PM
    This was the grounds for my packaged bank account reclaim against Barclays - they paid out.
    Originally posted by savingholmes
    Regardless, it's still not PPI.
    • dunstonh
    • By dunstonh 22nd Feb 18, 10:32 PM
    • 92,209 Posts
    • 59,376 Thanks
    dunstonh
    • #8
    • 22nd Feb 18, 10:32 PM
    • #8
    • 22nd Feb 18, 10:32 PM
    This was the grounds for my packaged bank account reclaim against Barclays - they paid out.
    Originally posted by savingholmes
    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). Comments are for discussion purposes only. They are not financial advice. 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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