Making a Royal Bank of Scotland (RBS) PPI Claim is no different then making a claim against any other Credit card lender. Regardless of Credit Card lender from RBS to Barclaycard, the following applies:

Maple Leaf Financial will review your RBS PPI Claim and will be happy to discuss your individual concerns and requirements : 0800 7747624

 

Do I qualify for a RBS ppi claim?

In order to get an idea of whether you should file for a PPI claim against Royal bank of Scotland, begin by answering these questions:

• Were you aware that you had purchased PPI cover with your RBS Card?
• Were you aware that the cover was optional?
• Did the company in any way coerce you into accepting the PPI cover?
• Did RBS inform you of the full cost of payment protection insurance?
• Did RBS ask for information on your medical history?
• Did RBS ask about any existing PPI cover?
• Did RBS ask you about sick pay from your employer?
• Did RBS inform you that you could cancel the policy during the cooling-off period free of penalty?
• Did RBS ask about your income and budget to see if you could afford the extra PPI costs?
• Did the company provide you with any written documentation giving details about your PPI cover?
• Did they ask you to read that documentation?
• Did RBS explain the benefits, limitations, exclusions and other features of their PPI policy?

Under the law, Royal Bank of Scotland  must provide consumers with full information on any insurance product that they are selling them. If they failed to provide you with details about the PPI cover, or to ensure that you qualified for such insurance, then you can claim thousands of pounds from the company due to their mis-selling of the product.

 

Royal Bank of Scotland PPI Claims

In banking, Bank of Scotland is a centuries-old name. It was merged with Halifax in 2001. Since then, it has been Halifax Bank of Scotland, or HBOS. HBOS was acquired by Lloyd TSB in 2009 and came under the Lloyds Banking Group. Bank of Scotland as a name is still known on the high streets of Scotland. This institution is separate from Royal Bank of Scotland.

PPI was sold on Bank of Scotland’s mortgages as well as credit cards and personal loans.

Compensation has been side aside by the Lloyd Banking Group. This amount is £5.3 billion. This figure is for every institution in the group. Bank of Scotland, however, is going to account for an enormous share of this

PPI was sold until 2010, much more than many competitors, and therefore a bigger compensation bill is on the way.

If you have a loan or a mortgage with the Bank of Scotland, then you may have bought PPI without even knowing it. It is important to read all of your statements closely, or even contact your bank. This will determine whether or not you have this insurance.

Make sure that the bank sought out whether or not PPI was suitable. Ensure that you understand the exclusions applied and that you knew about what was being sold. There have been countless complaints from people who found that the bank did not carry out any requirements. If you have any complaints, then you can contact the Bank by:

Calling 084575319

Writing to their:  Customer Relations at PO Box 548, Leeds, LS1 1WU

At the website, www.bankofscotland.co.uk, complainants are told they they will receive the answer to their complaint within the period eight weeks.

The Financial Ombudsman Service will sort out any issues if you are not satisfied or have received a rejection. Most complaints are solved in a couple of months.

Separate data is not produced by the FOS when it comes to PPI complaints with the Bank of Scotland. In ninety percent of the cases involving this, however, the customer has been ruled in favor. This is something which will above the industry average, which is seventy-one percent. HBOS doesn’t uphold a lot of complaints, so it is important to be patient and ensure that you turn to the FOS if the bank rejects the claim. In this period of six months, 4, 000 complains were received by the Ombudsman regarding Halifax or Bank of Scotland PPI claims.


Credit Card PPI Claims: News

FCA deems Credit Card Insurance as Mis-Sold

The FCA has ruled that the insurer CPP and 13 other Banks mis-sold credit card insurance. This ruling will see approximatly seven million credit card holders recieve compensation for unnecessary insurance policies that were added to their monthly repayments.

This may also affect another 18 million credit card holders who renewed their credit cards between 2005 and 2011. The FCA ruled that CPP and the Banks sold these insurance policies that customers did not need and did not properly explain the product.

READ MORE


Mis sold Credit Card PPI

So what should a borrower do if he or she is not sure if he possesses a potentially mis-sold PPI policy? For credit cards, the first thing you should do is locate your credit agreement. If you do not have it, either because you misplaced a current credit card’s policy or the account was closed in the last six years, you can pay £1 to receive another copy from the lender. You can also check your old statements, as PPI should be itemized. It may be labeled as “payment cover, “ “protection plan,” “ASU,” “card insurance,” or other similar labels.

READ MORE


 

Tim Capper reports on Financial Mis-Selling for Maple Leaf Financial. Our aim is to ensure you get honest advice and proper guidance to ensure a suitable recommendation can be made to pursue a financial claim

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Tim Capper

Bringing you financial news and information in plain english for Maple Leaf Financial. My aim is to help readers understand these often complex financial instruments.