The Financial Conduct Authority had found “distressing problems” with the majority of PPI claim call centres operated by banks. Out of 18 firms, only 6 were performing well. One of the remaining twelve faces enforcement action and others face adjustment and questioning by the FCA.
According to the FCA, customers rejected their insurance claims will be refunded by intensive investigation.
If you were rejected a PPI claim by your bank, you could reclaim your refunds effectively by using claims management companies such as www.ppicalculatorco.co.uk here with their experienced claims experts.
The Financial Ombudsman also confirmed that the 26% increase in PPI complaints signify that banks are still not doing their jobs right. Chief Ombudsman Natalie Ceeney said that despite the example set by the Ombudsman, others are still delaying their customers unnecessarily.
According to the FCA, many PPI claim call centres failed to give a proper response talking about the date the refund is due, pay attention to the inclusions and exclusions of the PPI’s provisions and many do not pay attention to the customer’s circumstances during the time they purchased the insurance.
Anybody who is mis sold PPI could know the precise amount of compensation they could get by using a PPI claim calculator provided online by most claims management companies.
The FCA disagreed with 59% of the PPI judgments the firms made in terms of rejecting and approving claims.more...