How long does RBS PPI claim take?

How long does RBS PPI claim take?

On receipt of a mis-sold PPI claim RBS* will normally contact us within eight weeks with a reason why a decision has been delayed or to explain their final decision in detail and if appropriate, make an offer of compensation.

How do I contact RBS about PPI?

Please contact us directly on 0800 015 0319 and we will be happy to discuss this further.

How long does it take for a PPI decision?

eight weeks
From the date you make your complaint, the financial business has up to eight weeks to give you their final decision. However, the volume of PPI related enquiries and complaints sent to firms increased significantly in August 2019 in the run-up to the deadline.

Are PPI claims still being processed?

The PPI deadline passed on 29 August 2019, so most people can no longer reclaim, be that direct to a bank, using our free reclaim tool, or via a claims firm. For a handful, exceptional circumstances might mean it’s still possible, but for the majority, the door is firmly shut.

What is RBS PPI?

Royal Bank of Scotland (RBS) PPI Claims. Millions of Royal Bank of Scotland customers have been impacted by mis-sold Payment Protection Insurance (PPI). We know the tactics that banks use to complicate the process in order to avoid paying the refunds and compensation that is owed.

Can PPI claims be rejected?

There were many reasons why PPI claims were rejected but most common was that there was insufficient evidence that PPI was mis-sold. Often customers were struggling to convince banks or lenders that the policy they had signed, which clearly stated PPI would be included, was unclear to them or had misled them.

How long does a bank have to respond to a PPI claim?

Usually, a financial firm has a maximum of eight weeks to respond to a complaint such as a PPI claim, and if it fails to do so you can escalate your case to the Financial Ombudsman Service. But the Financial Conduct Authority (FCA) has warned banks will not be able to meet their normal complaint handling times.

What happens if your credit card company rejects your PPI claim?

Just because your bank, credit card company or loan company has rejected your PPI Claim, it doesn’t mean that you should give up. There is a backup plan and thousands of people are finding themselves having to use it.

Why was Susan Plevin refused a PPI letter?

In 2014, a court ruling held that customer Susan Plevin was treated unfairly because she wasn’t told about the large amount of commission (71.8%) taken from her PPI payment – so this can be used as a new reason to claim for compensation.

Do you need to know when you get a PPI letter?

The FCA says you don’t actually even need to know whether you are complaining about commission that you weren’t told about at the point of sale, or about commission you paid throughout your policy. If you get a letter from the firm that supplied your PPI, you just need to make clear when you complain that you are claiming in response to the letter.

How many PPI customers can claim under Plevin?

Up to 140,000 PPI customers who couldn’t claim for mis-selling but CAN claim for Plevin. The FCA estimates between 60,000 and 140,000 customers will need to be contacted to let them know they can claim under Plevin rules.