17 November 2014
In recent months, we have seen more and more stories emerging in the press about complaints from customer regarding how their PPI cases were handled.
For example, the latest issue to have emerged was the fact that many banks and lenders were not compensating customers the full amount; for example, one customer found that he was not compensated the fees and costs that PPI had added to his account, but the Financial Ombudsman Service and the Financial Conduct Authority have since told all banks and lenders that they must FULLY compensate customers.
However, this leaves one burning question - if you have submitted your complaint, but feel that it has not been handled well or you are entitled to more compensation, can you do anything about it?
If you made a claim with your bank or lender within the last 6 months, receiving their final response within this timeframe then you can take your case to the Financial Ombudsman.
If the case was 'resolved' over 6 months ago you will need to ask the bank to re-open your case. You cannot at this point take it to the Financial Ombudsman as the case needs to be 'open' with the bank.
However, when you contact the bank you will need to be clear as to why you want the case looking at again; simply saying that you think you are owed more money is not good enough!
You will need to ensure you have fresh evidence that shows you have a case as to why you may be entitled to more money e.g. you have realised that on the statements you have been charged fees or costs related to PPI that were not included in the final compensation figure. Supply them with as much information as you can!
IF the banks says no, then you could take you case to the Financial Ombudsman but, if possible always try to re-open your case with the bank and the Ombudsman is not necessarily able to take on case that have been rejected over 6 months ago. However, they are keen to ensure that as many customers as possible receive every penny in compensation due to them hence they are deciding whether to work on these kinds of cases on a case-by-case basis.
Here at Scottish PPI Claims we are also as passionate and as determined as the Financial Ombudsman to work with as many people as possible to help them claim every penny of PPI compensation that they are entitled to.