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  • FIRST POST
    • richyj
    • By richyj 7th Mar 18, 12:14 AM
    • 1Posts
    • 0Thanks
    richyj
    Egg Credit Card PPI reclaim
    • #1
    • 7th Mar 18, 12:14 AM
    Egg Credit Card PPI reclaim 7th Mar 18 at 12:14 AM
    Hi,

    My wife had an Egg credit card back in approx 2006/2007.

    I know for certain that she was paying payment protection insurance and have paperwork to that effect. She had claimed on the policy when she was made redundant in approx 2007.

    I followed the process on citbank's website to compain about PPI and have received a response from canada square operations.. They tell me the complaint has been upheld and to look at the details in the Decision A section.

    The details are as follows;

    Refunds Due 1,127.93
    CRP Premiums Paid 354.24
    Refund of Interest on premiums paid at contractual interest rate 354.24
    Interest at the rate of 8%, as detailed above 1264.04
    Refund of associated over limit charges 20.00

    Deductions
    CRP Premiums Refunded 0.00
    Previous 8% Compensatory Interest 0.00
    Previous Complaint Redress 0.00
    Less any Previous successful claim -4582.53
    Total Redress -1816.32
    Less Basic tax rate -252.81
    Final Cash Payment (Cheque) -2069.13

    So basically they are saying the claim she made on the credit card has wiped out any refunds due. Is this correct ? Is it not possible to claim a refund on a PPI policy if the policy had been claimed on ? Is

    Thanks for your help...
Page 1
    • Moneyineptitude
    • By Moneyineptitude 7th Mar 18, 12:43 AM
    • 20,133 Posts
    • 11,084 Thanks
    Moneyineptitude
    • #2
    • 7th Mar 18, 12:43 AM
    • #2
    • 7th Mar 18, 12:43 AM
    So basically they are saying the claim she made on the credit card has wiped out any refunds due. Is this correct ? Is it not possible to claim a refund on a PPI policy if the policy had been claimed on ?
    Originally posted by richyj
    You don't get to have your cake and eat it, I'm afraid.

    Any refund of mis-sold PPI will of course be subject to a deduction of monies already claimed on the insurance.

    In your case, the result is that there is actually a deficit between what you claimed and your refund amount but they are simply reducing your redress to nil rather than charging you the extra 2K you've already received.

    Seems fair enough to me..
    • dunstonh
    • By dunstonh 7th Mar 18, 1:01 AM
    • 92,574 Posts
    • 59,877 Thanks
    dunstonh
    • #3
    • 7th Mar 18, 1:01 AM
    • #3
    • 7th Mar 18, 1:01 AM
    So basically they are saying the claim she made on the credit card has wiped out any refunds due. Is this correct ? Is it not possible to claim a refund on a PPI policy if the policy had been claimed on ?
    Both logical and correct. A bit cheeky putting in a complaint really but it was an easy auto-uphold for them as they know there is nothing to pay you.
    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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