The Financial Conduct Authority had announced the PPI deadline on August 29, 2019 and UK consumers are on a frenzy. Banks have yet to streamline the claims process but still, the fact remains that consumers only have until 2019 to reclaim their refunds from a mis-sold PPI policy. Here are three things to remember to ensure you get all your refunds intact.
Data Access Request
Consumers could have their bank send their entire interaction with their debt, which would include the repayments they made for their PPI policy. This would allow them to calculate the total expenses they have incurred with PPI and the amount they are owed.
The Financial Ombudsman Service is open to consumers who believe their complaints were not handled efficiently by their banks. Banks are known for rejecting even legitimate complaints and often have a 3 against 10 chance of successfully defending their rejection decisions.
To ensure that you get your complete refunds, make sure to use a PPI refund calculator to help you see how much PPI compensation and annual interest your insurance gained adding the 10 per cent PPI compensation banks must grant as mandated by the UK Supreme Court.