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    • Realta
    • By Realta 16th Apr 19, 11:22 AM
    • 2Posts
    • 0Thanks
    Realta
    PPI refund I don't agree with
    • #1
    • 16th Apr 19, 11:22 AM
    PPI refund I don't agree with 16th Apr 19 at 11:22 AM
    Recently I received letter from Barclays confirming missold PPI for around 18 years. A cheque for 700 approx was attached. I don't think this can be correct.

    I intend appealing to the Ombudsman. What should I do with the payment I have received in the interim?

    Should I return it, hold on to it and do nothing with it (with risk it shall be out of date by time Ombudsman rules, or should I lodge it and tell Barclays I am acepting it as a disputed payment.

    Thank you for your advice,

    Realta
Page 1
    • zx81
    • By zx81 16th Apr 19, 11:25 AM
    • 21,742 Posts
    • 23,659 Thanks
    zx81
    • #2
    • 16th Apr 19, 11:25 AM
    • #2
    • 16th Apr 19, 11:25 AM
    Bank it and query it with Barclaycard if you think they've made a mistake.

    You can't go to FOS if you haven't given them a chance to rectify any mistake.

    Send them your evidence.
    • BoGoF
    • By BoGoF 16th Apr 19, 11:26 AM
    • 4,242 Posts
    • 3,775 Thanks
    BoGoF
    • #3
    • 16th Apr 19, 11:26 AM
    • #3
    • 16th Apr 19, 11:26 AM
    As PPI is calculated by a defined formula then it would be unusual for it to be incorrect. There should have been a calculation.....what does it say?

    What makes you think it's wrong?
    • Moneyineptitude
    • By Moneyineptitude 16th Apr 19, 11:39 AM
    • 23,474 Posts
    • 12,863 Thanks
    Moneyineptitude
    • #4
    • 16th Apr 19, 11:39 AM
    • #4
    • 16th Apr 19, 11:39 AM
    Recently I received letter from Barclays confirming missold PPI for around 18 years. A cheque for 700 approx was attached. I don't think this can be correct.
    Originally posted by Realta
    Why do you think this?
    Remember, you'll only get a refund of the amount (plus interest) that you actually paid. In those eighteen years you won't have paid any PPI at all for at least the last nine because credit card PPI ceased to be available in 2010. In addition, you only paid PPI on credit cards when there was a balance on your account so if you didn't carry a balance then you paid nothing. Finally, the Bank will only refund as far back as they have kept records so if you want more then you'll have to provide your own evidence (statements) that you actually paid more than they are refunding.

    No point going to the Ombudsman unless you have your own proof and if you have such, far quicker to simply provide (copies of) these direct to the bank.

    If you don't have evidence of more being paid, just enjoy your redress as the Ombudsman cannot award you any more than there is evidence of.
    • dunstonh
    • By dunstonh 16th Apr 19, 12:36 PM
    • 98,002 Posts
    • 66,164 Thanks
    dunstonh
    • #5
    • 16th Apr 19, 12:36 PM
    • #5
    • 16th Apr 19, 12:36 PM
    Has your complaint been upheld or rejected? i.e. if rejected, is this a Plevin payment?
    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.
    • Takmon
    • By Takmon 16th Apr 19, 3:30 PM
    • 417 Posts
    • 371 Thanks
    Takmon
    • #6
    • 16th Apr 19, 3:30 PM
    • #6
    • 16th Apr 19, 3:30 PM
    Recently I received letter from Barclays confirming missold PPI for around 18 years. A cheque for 700 approx was attached. I don't think this can be correct.

    I intend appealing to the Ombudsman. What should I do with the payment I have received in the interim?

    Should I return it, hold on to it and do nothing with it (with risk it shall be out of date by time Ombudsman rules, or should I lodge it and tell Barclays I am acepting it as a disputed payment.

    Thank you for your advice,

    Realta
    Originally posted by Realta
    I've seen loads of people who post on here claiming their refund amount is incorrect and not enough. Yet i haven't seen one person who did their own calculations using the available evidence to show how it was wrong.

    I just can't believe how people will blindly claim it's wrong and then escalate to the ombudsman without even one bit of evidence that shows it should be something else.
    • Realta
    • By Realta 16th Apr 19, 9:46 PM
    • 2 Posts
    • 0 Thanks
    Realta
    • #7
    • 16th Apr 19, 9:46 PM
    • #7
    • 16th Apr 19, 9:46 PM
    Thank you all for you comments, much appreciated. Realta.
    • Moneyineptitude
    • By Moneyineptitude 16th Apr 19, 11:33 PM
    • 23,474 Posts
    • 12,863 Thanks
    Moneyineptitude
    • #8
    • 16th Apr 19, 11:33 PM
    • #8
    • 16th Apr 19, 11:33 PM
    I just can't believe how people will blindly claim it's wrong and then escalate to the ombudsman without even one bit of evidence that shows it should be something else.
    Originally posted by Takmon
    They simply don't realise (or care) that the Bank will pay the Ombudsman a hefty fee just to reiterate what they were originally told by the Bank.

    However, the Banks still take the lion's share of the blame for this because they allowed (encouraged?) the PPI scandal to exist in the first place..
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