PPI mis-sold by your bank or credit card company?

Credit Card PPI

PPI sold by the banks

Did you have credit (cards, a loan, a mortgage) from one of the banks:

Barclays, HSBC, Lloyds, TSB, Halifax, RBS, NatWest, Nationwide, Santander, Northern Rock, Egg? An adviser may have sold bank PPI (Payment Protection Insurance) to you without your knowledge.  Or they may have mis-sold it because they didn’t check if it was suitable for you

Should you claim yourself or get help from a claims management company? On many of the banks web-sites they will tell you not to use a claims management company. We’d have a couple of points to make on this:-

  1. These are the same banks who mis-sold billions £’s worth of PPI remember, created the last recession and in some cases fixed interest rates 😉
  2. We think the bank’s legal departments would rather have to deal with a consumer than have to deal with a knowledgeable claims manager.

But, claiming yourself does make sense for some people – we’ve written an article about the pros and cons here if you’re interested.

For those that want to claim, you can find links to claims forms for many of the credit card and store card companies towards the bottom of this page.

If you want us to help (perhaps you don’t want to have to fill in several, different bank forms), just fill in the short form on the right and we’ll get in touch. 

PPI sold with credit cards and store cards

store card PPI

You may also have had PPI from one of the companies who specialise in credit cards such as MBNA, Barclaycard or Capital One – note that these companies use lots of different brand names for their credit cards so yours may be called something different name on it. The name of the company is usually somewhere in smaller type on the back and on your statements.

A lot of clients ask us if shops sold PPI with store cards.  The answer is definitely “yes”. In fact Home Retail Group who own Argos are one of the companies most complained about when it comes to PPI. Argos offer a PPI product called Coversafe with their other credit products.  In the past, Home Retail Group also owned Homebase who also sold PPI with their storecard. Santander also became responsible for many store cards. We also have a separate article just about store cards here.

Many other stores sold PPI to customers with their store cards so if you have store cards it’s definitely worth checking.  Store cards are typically just credit cards with the store’s name on them. One of the credit card companies will often issue and operate these cards for the stores.

You can find links to claims forms for many of the credit card companies towards the bottom of this page.

If you want us to help (perhaps you don’t want to have to fill in a several, different credit card company forms), just fill in the short form on the right and we’ll get in touch. 

PPI sold with mortgages or other loans

It could be that you had PPI added on when you got a mortgage or loan from another company. Most of us are more concerned about getting the mortgage in place so we don’t miss out on a house than checking whether a salesperson has added on extra insurance.

OK – but what should I do?
  1. Whichever PPI you may have had, we can help, even if you’re not sure if you had PPI.
  2. No documents? Not a problem – as long as you can tell us which companies, we can take it from there.
  3. It’s free to check and we have a no win, no fee* policy so you’ll only pay if we claim for you and get you money back.
  4. We have ultra competitive fees – compare with other claims companies here.
  5. If you’d like to get some help, fill in the short form on the right or get in touch using our Contact Us page.

Or read on for more information about the banks and the scale of the PPI problem.

Which companies sold PPI?

Well – lots.  The industry regulator (the Financial Conduct Authority (FCA)) publishes data on complaints to the various companies.  Although (surprisingly) they don’t break out PPI itself they include it in another category.  That data shows 171 financial companies who have reported having to deal with PPI complaints.

In practice, the number of companies who sold PPI is higher because lots of people sold it on behalf of the banks and insurance companies..

In practice, it’s a smaller number of banks and others who have dealt with most of the complaints.  For example, in the second half of 2015, just over 70% of all complaints went to seven firms  – Lloyds, Barclays, Bank of Scotland (also Lloyds), MBNA, Home Retail Group, HSBC and Capital One as shown in the chart below.

Bank PPI data
image credit: FairerPPI – data, the FCA

How much has PPI cost these companies?

According to the Financial Conduct Authority (FCA), the banks and others have paid out just under £25 billion pounds…

25 thousand, million pounds

It’s a staggering amount and difficult to get your head around. Lenders sold PPI over a long period with most forms of consumer credit. Because one form of mis-selling was that salespeople did not tell consumers they were adding PPI on to credit or suggesting that they had to have PPI to get credit, it was very widespread. So the number is perhaps less surprising.  Although the banks have had to pay out a lot, there’s a lot more to come.  The exact amount is unclear which is why the regulator wants to introduce a deadline despite opposition from Which? MoneySavingExpert and companies like ourselves who fight for consumers like you to get back your money.

It’s worth saying that again – your money. If you were mis-sold PPI, the PPI was:

  • not suitable for you or,
  • you didn’t know you were buying it or,
  • a salesperson pressured you into buying it unfairly or
  • the PPI would not have helped you even if you needed to claim.

If you think you could be affected, even if you’re not sure or you don’t have details, let us help you find out. Then, if you want, we can help you to claim back what the banks owe you. It could be £1,000s so it’s worth looking into. It costs nothing to check and we work on a no win, no fee* basis with nothing to pay up front.

The Top 20 Most Complained to PPI Companies (2nd half of 2015)

Here’s the top (should that be bottom?) 20 companies when it comes to mis-sold PPI along with claims forms where we could find them.

We’ve provided links so that you can get their claims forms if you want to have a go at claiming yourself.  These links are to the banks own sites, NOT OURS.  If you want US to help with your claim, just use the short form on the right.

  • Our claims pack is much shorter and easier than the majority of the bank forms.
  • We’ll do as much of the work as possible for you.

Disclaimer: we provide this section as a service to consumers, but please check yourself that you are using the correct complaints procedure for the PPI policy in question. Although we’ve taken great care in compiling this list, we will not be responsible for incorrect or out of date information in this section.

  1. Lloyds Bank PLC – Lloyds PPI
  2. Barclays Bank Plc – Barclays PPI
  3. Bank of Scotland plc – Bank of Scotland PPI, Bos PPI
  4. MBNA Limited – MBNA PPI
  5. Home Retail Group Insurance Services Limited – Argos PPI, Homebase PPI
  6. HSBC Bank Plc – HSBC PPI
  7. Capital One (Europe) plc – Capital One PPI
  8. National Westminster Bank Plc – NatWest PPI
  9. The Royal Bank of Scotland Plc – RBS PPI
  10. British Gas Services Limited – British Gas PPI (forms not available)
  11. Santander UK Plc – Santander PPI (Please note that there are different postal addresses for Santander’s own products and store cards)
  12. U K Insurance Limited – Directline PPI – depends on the date – contact DirectLine or RBS (previous owner of DirectLine)
  13. Aviva Insurance Limited – Aviva PPI (mutiple questionnaires for different products)
  14. Inter Partner Assistance SA – Inter PPI (not applicable)
  15. Tesco Personal Finance PLC – Tesco PPI (no form available)
  16. Clydesdale Bank Plc – Clydesdale PPI
  17. Canada Square Operations Limited – Egg PPI (Multiple – not available on their site)
  18. Nationwide Building Society – Nationwide PPI
  19. NRAM plc – Northern Rock PPI
  20. Santander Cards UK Limited – Santander PPI (Please note that there are different postal addresses for Santander’s own products and store cards)

image credit:Negative Space