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December 30, 2016 
Daniel Lee How many times have you heard that the PPI saga is coming to an end?
So called experts have been saying it and getting it wrong for years.
Today we hear that the Lloyds Banking Group have set aside a further £1bn to cover PPI compensation costs that have now soared to £17.7bn.
In July Barclays added a further £400m to their pot, thus increasing their overall cost to almost £8bn.
The much troubled RBS added £450m in August to take their bill beyond £5.5bn
The total bill for the disgraced industry now creeps closer to our estimated final bill of £42.5bn, it now standing at £38.95bn.
We would never suggest that the so called experts are pressured by banks to put out a message that the scandal is drawing to a close but it is difficult to understand how they continue to get it wrong.
Banks don’t wish to alarm shareholders and the markets by stating what they truly believe will be the final cost which is the reason why they drip feed additional money to the compensation fund.
It’s blatantly obvious this has happened for years yet the ‘experts’ fall for it every single time the banking industry suggests we’re close to the end.
We’ve said for some years now that we expect a final bill to reach around the £42.5bn mark.
It doesn’t take a mathematical genius to work out that the banks original claims of a final bill of £25bn was simply fanciful.
What does appear to be the case is that we may have even underestimated the final cost ourselves, and we wouldn’t be surprised to see the £42.5bn surpassed within twelve months.
Put simply, there are millions of people out there who are oblivious they may have a valid claim for compensation.
Financial providers used various disgraceful tactics in order to add PPI onto all sorts of credit agreements.
Perhaps one of the most common tactics was the add the product without the knowledge of the customer, hence why these people have not yet stepped forward.
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.
Ever increasing PPI bill
October 26, 2016 Your Money Claim
With the growth of ad blocking, are we likely to see more ways to make money through consuming advertising content? Now Tesco mobile customers can get paid to watch ads. Is this the future?
Many people will try to avoid seeing adverts whilst they are online and this is becoming more and more evident as ad blocker downloads are on the rise. The interest in ad blockers is undeniable with Google telling us that the searches for “ad block,” “adblock plus” and “ad blocker” have all climbed steadily over the last few years, particularly between 2013 and 2014.
And there isn’t just an interest in ad blocking, these searches correlate to downloads. AdBlock Plus, the most popular of the tools, says it has averaged 2.3 million downloads a week since 2013. Now in 2016 it seems the popularity of ad blockers is not faltering but transitioning to mobile. The 2016 Mobile Adblocking Report found at least 419 million people (22% of the world’s 1.9 billion smartphone users) are blocking ads on the mobile web.
The message is loud and clear: Consumers aren’t satisfied with online ads. So how are brands responding to this message? Well, some appear to be offering payment for consumers to watch ads.
Tesco are living up to their slogan ‘every little helps’ with their new Xtras scheme offering the customer a reduction on their monthly phone contract if they view full screen static advertisements on their smartphone. Ads will appear every second or third time the phone is unlocked and customers are obliged to watch adverts on 21 days of each month. In return Tesco will reduce their monthly bill by £3.
This husband and wife run company absolutely believe consumers should get paid to watch ads making it the principal of their business. HitBliss offers TV shows, movies and music for a cost, if a consumer wants to purchase a TV show then they can either earn the cash to do so by watching a few adverts or if they don’t want to watch any ads and get straight to the show, they can pay the price. Simple. HitBliss give a choice up front rather than forcing adverts on dispassionate consumers who respond by reluctantly downloading ad blockers.
Maximiles take it one step further and don’t just give points (which can be exchanged for products from Maximiles’ vast reward catalogue) for watching brand advertisements but for almost any online activity. Points can be collected for completing surveys, shopping with certain retailers, referring friends to Maximiles and signing up to free registrations. Maximiles allow brands to easily gain loyal customers and customers to easily gain rewards. Sounds like a win – win situation.
With Tesco now on board, we are likely to see more brands offering consumers payment for viewing ads. It’s the foreseeable future but how will consumers respond? Paying consumers is one way of getting them to view ads but is it effective? Paying consumers doesn’t mean they are paying attention. The only way to ensure consumers will engage with ads is to make the ads, well, engaging. While paying consumers may be today’s trend, tomorrow’s trend should see brands having no choice but to come up with bigger and better advertising ideas for the digital space.
David Chavern, CEO of Newspaper Association of America, makes the point that consumers aren’t dissatisfied with ads as a whole but more specifically bad ads. He claims that we are not inherently hostile to advertising with magazines like Vogue and TV programmes like the Super Bowl dedicating a large portion of the content to advertising. He claims it is the bad ads that we hate and unfortunately the digital space seems to feature a lot of them.
Well, if brands are offering cash for very little work then why not take it. At least until online ads start raising their game and becoming so engaging that you actually start seeking them out with no cash involved at all.
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April 13, 2017 Daniel Lee When you hear the word PPI what is the first thing that pops into your head?
Nuisance calls? Spam texts? Spam emails? Cheesy radio and TV adverts?
If you thought any of the above I believe you’re probably in the majority, and I strongly agree that such tactics should not be allowed within the industry, or controlled better at the very least.
However, the fact that most people consider the most annoying part of the PPI scandal to be the companies that attempt to obtain compensation speaks volumes.
The vast majority of us form opinions based on what we see and hear in the media, and it is clear the banking industry holds huge influence over the media.
How else can the companies who fight to get back the BILLIONS in compensation that MILLIONS of customers have had taken illegally from their pockets be the bad guys?
Although it is a disgrace you’ve really got to hand it to the banks, they have hoodwinked the media into believing they are the victims in the biggest financial scandal to hit these shores.
Lets put things into perspective shall we for a moment.
Banks sold £50 BILLION worth of PPI policies from 2001 onwards alone, how many they sold before that is open to debate.
Banks mis-sold the often useless product to MILLIONS of customers purely because of the extortionate profits on offer.
Banks decided to take the matter to court in an attempt to avoid having to compensate customers who may have been caught up in the scandal.
Banks chose not to contact customers who may have been affected by the mis-selling when they lost the court case in 2011.
Banks mis-handled and provided unfair decisions to millions of valid complaints, with some being issued fines for their failures.
Banks are offered yet another opportunity by the Financial Ombudsman Service (FOS) to change their decision on a rejected complaint before the case is taken on by the FOS.
Banks have bullied the regulator into bringing in a potentially unlawful deadline, which could again see millions of customers miss out on what could rightfully be theirs.
Claims Management Companies fight the banks on behalf of customers, many of which are not aware the bank have even sold them PPI or have lost trust in the bank to handle their claim fairly.
Whilst the Claims Companies who use nuisance calls, SMS’ and emails need stopping in our opinion, it is clear who the bad guys are in this scandal.
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.
Biggest banking PPI achievement
