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PPI Claims – Barclays top the chart of shame

Filed under: Services — Tags: , — consumerfinanceclaims @ 09:13

Barclays can claim the title of the UK’s most complained about bank after figures revealed more than 250,000 new PPI complaints were recorded in the first half of this year. Barclay’s profits have fallen by some £2.6 billion and the bank is cutting jobs continuously.

The Financial Services Authority revealed Barclays has received more than 250,000 complaints, with Lloyds TSB following a close second on 181,907 and Santander with 168,888.

Barclays, along with the other banks, mis sold Payment Protection Insurance to its customers, informing them that PPI was compulsory when in fact this was untrue. Another ploy would be adding PPI to the credit agreement without the client even being aware that it was included in their monthly repayments.

The conclusion and ruling was that Barclays failed to meet the required, minimum guidelines with regard to selling Payment Protection Insurance. Accordingly, the bank was heavily fined by the FSA.

Barclay’s retail banking boss Antony Jenkins stated: “We have made good progress in reducing complaints, with a substantial and sustainable reduction in banking complaints by nearly a third.

“However, there is much more to be done and we are working hard to further improve our service to our customers; putting them at the heart of our business and getting it right first time, every time.”

The outcome of the FSA rulings on the PPI scandal means there are approximately three million people waiting in the queue for compensation. The total bill could be up to £9bn.

PPI policy holders who are concerned they may have been mis sold payment protection insurance are advised and encouraged to lodge a complaint first, rather than wait for their bank or the provider to take the initiative. Old policies, and even lost or misplaced PPI policy documentation doesn’t mean you cannot claim back a refund if you are entitled to one.

If you think that you may have been mis-sold PPI, then speak to one of our experts here at Consumer Finance Claims. Whether you feel that you were mis-sold PPI by a bank, building society or other financial institution, you could be joining thousands of others who have successfully received a full refund.






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If all details look OK you will receive a Claim Pack through the post, usually within 48 hours. If there are any issues we need to discuss one of our advisors will call you.


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