Published on November 15th, 2012 | by Pete0
Banks Not Playing Fair Shocker!
I doubt you will be stunned to read the title of this post. What am I complaining about then? Well, it’s that old chestnut, PPI. Not only have the banks seen fit to mislead, connive and separate people from their hard earned money, now that they have been caught with their hands in the proverbial cookie jar, they have decided that they are not going to play fair in reimbursing their ill gotten gains to their victims. At a time when you might expect banks to be more desperate for good publicity then tax dodging Amazon and Starbucks are keen for a distraction, they have made the incredible decision to unfairly reject perfectly good PPI claims willy nilly. Their poor handling of PPI complaints make the design and building of the Millennium Dome look like a ‘how to’ guide for building a national monument quickly and efficiently.
The Financial Ombudsman, who are tasked with making sure that the banks are doing what they should, have told MPs, who have complained in the House of Commons, that legitimate and justified complaints are not being correctly investigated. In some circumstances, banks are rejecting genuine complaints from customers. Banks are blaming this situation on being flooded by fake and unjustified claims, with this making up to a third of the total claims. It is reported that the main culprit for this type of behaviour is our old friend, the claims management company. So, another reason to avoid claims management companies – remember, they are often just charging you to pop a stamp on an envelope and complete a reasonably straightforward form, or write a letter.
Now that the Financial Ombudsman are on the case, let’s hope the banks are forced to sort themselves out. In the meantime, my advice is to steer clear of claims management companies, you can do it all yourself, and then you get 100% of your compensation.