01254 82288001254 822880
April 26, 2017 
Your Money Claim PPI and Packaged Bank Accounts (PBA‘s), words that send a shudder throughout the banking sector.
Banks will attempt to convince us that these mis-selling scandals are a thing of the past.
However, a recent poll taken by Which? has confirmed banks continue to pressure a target their staff to sell products regardless of whether they suit the needs of customers.
Banks and lenders have faced fines and compensation payments running into billions for flaunting the rules in order to generate obscene profits.
Customers needs and requirements take a back seat, with banks targeting and pressuring staff to sell products and policies to it’s customers.
The simple fact is that the fines and compensation paid out so far, even though the figures are huge, are nowhere near what the banks profited by mis-selling in the first instance.
Therefore the incentive far outstrips the risk for banks, so is it any wonder they are continuing to cheat the public?
This latest news comes as the FCA (Financial Conduct Authority) are about to release their report into the PPI mis-selling scandal.
There have been rumours that after years of pressure and cajoling by the banks, the FCA will crack and introduce a PPI deadline.
We have called upon the FCA to remember their reason for being, to protect the consumer, and have explained our reasons why a PPI deadline should not come into force.
Put simply, yes!
However, the FCA continue to dance to the tune of the banks rather than imposing sanctions and penalties which will make the banks sit up and take notice.
Customers complain to banks on a daily basis, and if these complaints are not satisfactorily resolved the customer can take their complaint to the Financial Ombudsman Service (FOS).
The FOS release data every six months regarding the complaints they receive, and the percentage of complaints that are found in the favour of the consumer.
We propose that should the FOS find in favour of the consumer over 50% of the time, the bank is fined 25% of it’s profits.
As the data is released every 6 months, if the bank continue to resolve complaints in an unsatisfactory manner, they would under our proposal lose 50% of their annual profits.
The proposal is simple, it’s effective, but unfortunately it will never happen given the weakness of the FCA.
If you took out mortgages, loans, credit cards, card finance, hire purchase agreements and store cards between the early 1980s until as recently as 2013 there’s a good chance you’ve had PPI.
Sit back and let Your Money Claim do the work for you.
We’ll find out whether you have had PPI and deal with the bank/lenders at every step.
Unsure whether you have been mis-sold your PPI? Click here to see whether you qualify.
The average amount claimed back is £3,332**.
The next BIG mis-selling scandal, following hot on the heels of PPI!
Want to learn more about the mis-selling of Packaged Bank Accounts (PBAs)? Click here.
If you pay anything from £5 up to £30 per month for any ‘benefits’ with your bank account then you could have a claim.
Many of these accounts were mis-sold and it is believed that there are still 10 million of these accounts still active in the country.
Option #1: Fill in the ‘Start Your Claim’ form on this page. We’ll send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we provide, we’ll make a start on your claim.
Option #2: Click the ‘Download Claim Pack’ button. Simply print out the form, complete it and send it back to us. Our address and email address can be found here.
Our experts are on hand to answer any questions you have via telephone, email or our live chat facility.
April 13, 2017 Your Money Claim The Financial Conduct Authority (FCA) is to publish a report into the huge PPI mis-selling scandal next month.
There are some rumours that after years of bullying and cajoling by UK banks, the FCA will cave and introduce a PPI time limit of when claims can be made.
We are hopeful the FCA will see sense and not introduce a PPI time limit, but are aware of the FCA’s previous bowing to the bullying of the banks.
Let’s just put this into perspective shall we….the banks want a PPI time limit that would only benefit them, for their own wrongdoings and downright cheating.
Hmmm yeah that sounds fair doesn’t it!
Please let’s not underestimate the FCA’s weakness when it comes to dealing with giant corporations.
Many of the staff within the FCA and the banks have worked for each other, and will move around in the same circles in the future.
The FCA is there to protect consumers, and we call on them not to lose that focus.
Our argument is based in three parts really, and we shall briefly explain our reasons why we believe it would be unjust for a PPI time limit to be brought in.
Our first issue is that UK banks and lenders have STILL made huge profits from the PPI mis-selling scandal, despite paying out tens of billions to date.
This simply cannot be right, where is the incentive to not commit similar offences in the future?
The FCA and Financial Ombudsman Service (FOS) already have time-barring rules in place when dealing with complaints.
These are generally known in the industry as the 6/3 rule, and basically mean a complaint can be looked into so long as it is raised either:
Our focus really is on the 3 year ruling in this instance.
We estimated approximately 7 million people have yet to raise a claim, and a huge number of these people are unaware they’ve been sold a PPI policy.
Banks and lenders used various tactics when selling PPI, and one of the main tactics was to add the PPI without the knowledge of the customer.
So, if the customer isn’t aware they’ve had a PPI policy how can the 3 year rule start until such time as they are made aware they’ve had it?
Banks continue to deal with complaints unfairly, rejecting millions of valid claims.
This is proven by statistics released by the FOS which still show the majority of rejected claims escalated are overturned.
Furthermore, fines are STILL being handed out to banks and lenders for their failures in how they handle complaints.
Surely until complaints are handled fairly we cannot contemplate bringing in a PPI time limit.
We are not opposed to a PPI time limit but we strongly believe certain criteria must be met in order for a time limit to be introduced.
Firstly banks and lenders must contact every customer they’ve sold a policy to who haven’t yet claimed.
This would then set the three year period into play, as per FCA and FOS rules.
If a customer has moved address a bank/lender must use all reasonable endeavours to locate and inform the customer.
This, in our opinion, is the fairest way to bring this huge mis-selling scandal to a reasonable conclusion.
PPI was sold on all forms of credit, such as mortgages, loans, car finance, hire purchase agreements, credit cards and store cards.
Not sure whether you’ve been sold PPI?
Our fast and comprehensive checking systems that have been set up with almost all banks allows us to find out whether you’ve been one of the millions who have had PPI.
Not sure whether you qualify? Check here to see whether you may.
Our average successful customer award is £3,332**!
Want to know how much you may be owed? Why not try our PPI calculator.
Option #1: Fill in the ‘Start Your Claim’ form on this page. We’ll send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we provide, we’ll make a start on your PPI claim.
Option #2: Click the ‘Download Claim Pack’ button. Simply print out the form, complete it and send it back to us. Our address and email address can be found here.
Our experts are on hand to answer any questions you have via telephone, email or our live chat facility.
So….why wait, let’s get started!
Banks call for PPI time limit
September 21, 2016 Your Money Claim Back in 1987 when National Australia Bank (NAB) purchased the Clydesdale and Yorkshire bank brands they couldn’t possibly have imagined the trouble and damage these two toxic banks would cause.
Little did NAB know of the blatant mis-selling, manipulation and cheating that was happening right under their noses but all would soon come to light.
In October 2014 NAB decided they’d had enough and announced plans to ditch Clydesdale and Yorkshire, such was the reputational and monetary damage being done.
Yesterday we learned that the Clydesdale PPI provision, which includes Yorkshire Bank, was increasing by £420m.
This latest addition takes the overall Clydesdale PPI provision beyond £1.6bn, which when taking into account the relatively small size of the banks, puts into context the scale in which these banks were ripping off their customers.
Furthermore, the £420m set aside takes the overall PPI bill to UK banks and lenders to a cool £31bn.
As if this wasn’t bad enough Clydesdale / Yorkshire also received a record fine of £20.7m at the time it was issued in April of this year.
This was due to their failings in handling PPI complaints, and manipulation of records in order to try and show PPI wasn’t sold, when indeed it was.
PPI was sold on all forms of credit, such as mortgages, loans, car finance, hire purchase agreements, credit cards and store cards.
Not sure whether you’ve been sold PPI?
Our fast and comprehensive checking systems that have been set up with almost all banks allows us to find out whether you’ve been one of the millions who have had PPI.
Not sure whether you qualify? Check here to see whether you may.
Our average successful customer award is £3,332**!
Want to know how much you may be owed? Why not try our PPI calculator.
Option #1: Fill in the ‘Start Your Claim’ form on this page. We’ll send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we provide, we’ll make a start on your Clydesdale / Yorkshire PPI claim.
Option #2: Click the ‘Download Claim Pack’ button. Simply print out the form, complete it and send it back to us. Our address and email address can be found here.
Our experts are on hand to answer any questions you have via telephone, email or our live chat facility.
So….why wait, let’s get started!
Clydesdale PPI provision up again
January 5, 2017 Your Money Claim With the current PPI bill costing UK banks and lenders £30.6bn and rising, you’d have thought the story couldn’t get any worse for the banks.
However, following a recent ruling in the Supreme Court, banks could face a further £33bn in this new PPI mis-selling scandal.
In more good news for consumers, this could even help with complaints that have previously been rejected by the banks.
So, why could banks face this huge additional compensation bill for the new PPI mis-selling scandal?
Without getting into the nitty gritty of the case, it boils down to commission payments that were not disclosed to customers.
Basically, banks and lenders received commissions from PPI policy underwriters for selling products to customers.
These commission payments were, on the whole, never disclosed to the customer which has been deemed as being unfair.
The argument is that customers being unaware of the size of commission payments being handed out deprives them of the ability to make an informed decision as to whether the PPI policy represents value for money.
In the court case itself, Susan Plevin was sold a PPI policy worth £5,780 by Paragon Finance via a broker.
Of the £5,780 paid by Mrs Plevin, £4,150 was paid to Paragon and a broker by the insurance underwriter as a commission.
Mrs Plevin’s argument was that had she known that over 70% of the payments made for the PPI was actually commission, she would have questioned the value of the policy.
We already expected the PPI scandal to rumble on for years without this new revelation, but the costs and time could rocket.
Have you received a rejected PPI case from your bank or lender?
Has your case been rejected by the Financial Ombudsman Service?
All is not lost if you’ve previously received a rejection so why not get in touch and Your Money Claim can build a legal case based on this new PPI mis-selling ruling.
PPI was sold on all forms of credit, such as mortgages, loans, car finance, hire purchase agreements, credit cards and store cards.
Not sure whether you’ve been sold PPI?
Our fast and comprehensive checking systems that have been set up with almost all banks allows us to find out whether you’ve been one of the millions who have had PPI.
Not sure whether you qualify? Check here to see whether you may.
Our average successful customer award is £3,332**!
Want to know how much you may be owed? Why not try our PPI calculator.
Option #1: Fill in the ‘Start Your Claim’ form on this page. We’ll send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we provide, we’ll make a start on your PPI claim.
Option #2: Click the ‘Download Claim Pack’ button. Simply print out the form, complete it and send it back to us. Our address and email address can be found here.
Our experts are on hand to answer any questions you have via telephone, email or our live chat facility.
So….why wait, let’s get started!
New PPI mis-selling scandal
September 21, 2016 Your Money Claim Over the last week we have seen the likes of Barclays and the Lloyds Banking Group add a whopping £2 BILLION to the overall PPI compensation pot.
Today it’s the turn of HSBC, and they’ve followed suit with a further £88m being added.
This extra addition takes the HSBC PPI bill, which includes First Direct and HFC, to £3.1bn, and the overall bill to UK banks and lenders to £30.6bn.
For some time we’ve been hearing that HSBC chiefs are considering leaving the UK, but why is this?
Plain and simple really, they are not huge fans of the clampdown on the banking sector past wrongdoings.
Diddums!!! Isn’t it about time UK banks get their houses in order, stop trying to fiddle the system and their customers, and concentrate on providing a service, rather than pandering to the all-powerful shareholders.
London has for some time now been the centre of the banking world.
Whilst that brings positives and negatives for us here in the UK, it is a huge draw for all the banking superpowers.
Moving out of the UK would incur huge administrative and new process costs to HSBC.
Couple that with that fact most bankers are based in the UK, the costs of luring these people oversees away from the world hub, and it becomes clear that these threats are simply a case of toys being tossed out of the pram.
PPI was sold on all forms of credit, such as mortgages, loans, car finance, hire purchase agreements, credit cards and store cards.
Not sure whether you’ve been sold PPI?
Our fast and comprehensive checking systems that have been set up with almost all banks allows us to find out whether you’ve been one of the millions who have had PPI.
Not sure whether you qualify? Check here to see whether you may.
Our average successful customer award is £3,332**!
Want to know how much you may be owed? Why not try our PPI calculator.
Option #1: Fill in the ‘Start Your Claim’ form on this page. We’ll send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we provide, we’ll make a start on your HSBC PPI claim.
Option #2: Click the ‘Download Claim Pack’ button. Simply print out the form, complete it and send it back to us. Our address and email address can be found here.
Our experts are on hand to answer any questions you have via telephone, email or our live chat facility.
So….why wait, let’s get started!
HSBC PPI provision up £88m
May 19, 2017 Your Money Claim On Friday we learned that the Lloyds PPI provision was increased to £14.1bn, yet if you look a little closer there was something else that was also interesting to see.
Packaged Bank Account (PBA) claims are fast becoming another scandal akin to the PPI mis-selling sage.
Whilst most banks are trying to brush this under the carpet, they are quietly setting aside millions in compensation for the ever increasing number of complaints they are receiving.
The Lloyds Banking Group put aside it’s first amount specifically for this relatively new scandal, a cool £175m.
This £175m covers Lloyds, Halifax and Bank of Scotland as these banks form part of the Lloyds Banking Group.
Whilst this may currently be nowhere near the scale of PPI currently it has all the hallmarks of following the same path.
This Lloyds PBA Compensation takes the overall amount set aside by banks to £713m, and we fully expect this to surpass £1bn before the end of the year.
There are approximately 10 million PBA’s that remain active today, and with potentially millions more that have been closed.
Packaged Bank Accounts attract a regular monthly fee, generally between £5 – £30, in exchange for various products such as mobile, travel and breakdown insurance, to name a few.
Much like PPI, it appears banks have abused their position to mis-sale these accounts in order to generate obscene profits at the expense of their customers.
Not sure whether you qualify? Check here to see whether you may.
Option #1: Fill in the ‘Start Your Claim’ form on this page. We’ll send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we provide, we’ll make a start on your Packaged Bank Account claim.
Option #2: Click the ‘Download Claim Pack’ button. Simply print out the form, complete it and send it back to us. Our address and email address can be found here.
Our experts are on hand to answer any questions you have via telephone, email or our live chat facility.
So….why wait, let’s get started!
Lloyds PBA compensation
