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PPI: Lloyds and RBS won't follow Barclays and payout all customers
Originally posted by 5corpio
Unlike Barclays, the two taxpayer-backed banks will not automatically compensate customers who bought payment protection insurance (PPI) policies.
A spokesperson for Lloyds Banking Group said that it "will not be replicating" Barclays by paying out all PPI customers and that it will handle complaints regardless of when they are received. It added that it expects that the majority of customers to receive a payout in due course.
It said that around 20pc of complaints will be rejected because they will be from people who do not bank with Lloyds, Halifax or the Bank of Scotland, or do not actually have a PPI policy.
The spokesperson added: "“We are handling all PPI complaints fairly and consistently regardless of when they were received. We will ensure that we provide a clear response to every customer that has submitted a complaint to us before the 6 May by the end of August. For customers that have submitted a complaint on or after 6 May, will we provide a full response within 16 weeks of receiving the complaint.”
A spokesperson for RBS and Natwest said that it will be treating complaints in accordance with FSA guidelines and that it has no plans to compensate all customers who have complained by a set date.
On Monday morning, Barclays said that PPI customers, who made a complaint before April 20, will be reimbursed the total value of all premiums plus 8pc interest.............Click HERE to read more
A spokesperson for Lloyds Banking Group said that it "will not be replicating" Barclays by paying out all PPI customers and that it will handle complaints regardless of when they are received. It added that it expects that the majority of customers to receive a payout in due course.
It said that around 20pc of complaints will be rejected because they will be from people who do not bank with Lloyds, Halifax or the Bank of Scotland, or do not actually have a PPI policy.
The spokesperson added: "“We are handling all PPI complaints fairly and consistently regardless of when they were received. We will ensure that we provide a clear response to every customer that has submitted a complaint to us before the 6 May by the end of August. For customers that have submitted a complaint on or after 6 May, will we provide a full response within 16 weeks of receiving the complaint.”
A spokesperson for RBS and Natwest said that it will be treating complaints in accordance with FSA guidelines and that it has no plans to compensate all customers who have complained by a set date.
On Monday morning, Barclays said that PPI customers, who made a complaint before April 20, will be reimbursed the total value of all premiums plus 8pc interest.............Click HERE to read more