Help Needed. MBNA redress calculations Do you have two spare stamps

[ken100464]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

As Oscar says on a monthly basis I am sure this would happen

But surely the bank (because it suits) the regulator and the ombudsman are missing the cumulative effect. The effect that PS10/12 so clearly sets out they should be compensating.

So this bank is so correct but all the other banks are wrongly applying PS10/12 to the loss of these banks?????

Default sums are not what we are on about but the bank seems to be happy to muddy the water with them

Both the FCA and FOS need a good looking into by the press IMO.

The maths is actually simple once you get your head around the method. It reduces the claims. Its the reason the bank uses it. And FCA and FOS have fallen hook line and sinker for it.

Hope if we get eventual success the FCA fine this disgraceful bank millions and kicks its sorry ass all the way back across the atlantic.

[oscar]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Bullshit.

I saw many an account where the application of PPI caused the account to go over limit, and trigger the over limit (or default fee as they prefer) to be applied.

Of course PPI can cause an account to go over limit!! - If your balance say £1950, and you have a £2000 limit, the interest, and then the PPI would cause that account to go over limit - saw it several times.

And as for working "with" he FOS - that must be a change in stance from trying to pull the wool over their eyes!!

[Angry Cat]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Sounds just like MBNA;
they fined me 22 times, whilst I had a claim in place and yes they do like to blame the insurer, who in turn blames Chester Towers. But IMHO both London & Edinburgh (part of the disgraced Norwich Union) and MBNA Europe Bank /MBNA Limited were/are totally incompetent...!

So, which insurer were they blaming; London & Edinburgh or, St Andrews? (MBNA changed their PPI insurer from London & Edinburgh to St Andrews in early 2005)?

Well, here is an interesting turn of events;

I recently sent a letter chasing my request for a recalculation of my PPI redress to Chester Towers and;
bearing in mind that I am one of the mass complainants who contributed to the presentation being sent to both the FCA and FOS. I was sent the FOS Vicki McAusland letter dated 26 September 2014, in which Ms. McAusland totally missed the point contained within our mass complaint...!

Ms. McAusland, stated within her letter dated 26 September 2014:

"The issue of credit card charges and whether some of them should be refunded as part of the PPI redress has been raised recently. Although that wasn't part of your original query, I though it might be helpful to summarise the position. We have been clear that all credit card fees that were caused by the mis-sale of the PPI should be refunded to consumers.
MBNA has argued that there are circumstances where fees were not caused by the mis-sale of the PPI but by a consumer's own behaviour. We are working through these issues with MBNA..."
Not half, I bet they (FOS) are; cosy, cosy!

So, you can just imagine how my eyebrows raised when I read the following MBNA missive dated 02 October 2014, (but received yesterday 08 October 2014); sent out via 3rd class contract mail UKMail and;
a strangely worded template letter, which has obviously been strung together in order to pull the wool over the eyes of both FCA and FOS;
almost as though the letter is being directed towards Vicki McAusland's eyes:-

MBNA Limited 02/Oct/2014

Thank you for your recent correspondence regarding your redress payment and the suggestion that the exclusion of default fees in our calculation, has resulted in your request for your redress payment to be reviewed.

(I didn't mention Default fees!)

I would like to clarify MBNA's position on this matter. We are confident that our Payment Protection Insurance (PPI) redress is correct; we have considered our methodology carefully and in detail. Our confidence is reinforced through external independent reviews which supported the way we approach default fees. I didn't mention default fees)

Fees of this nature are required to b e refunded when they are "caused" by the mis-sale of PPI. Not all credit card fees are the same between lenders. There are aspects of MBNA's fees and charges and the way they are charged (or not charged) which are highly relevant to whether MBNA might be able to refund them. For example, our system operates so that the cost of PPI is only applied after the customer has gone over limit and after the over limit fee has been applied. As such, in our view PPI could never cause our customers to be over limit or cause the fee to be applied.

MBNA has always worked to ensure its PPI redress calculations and the payments it makes to customers follows guidance issued by the Financial Conduct Authority (FCA) and are informed by the decisions of the Financial Ombudsman Service (FOS).

If MBNA were to find that an error was made regarding calculations, then consideration of previous complainants would be made. MBNA would inform all impacted customers of our actions and decisions.

If any subsequent redress payment was due, this would be provided along with a full explanation. The relevant regulator would then require an open communication channel and evidence of our compliance to their request. This should give you the comfort that if a redress payment was calculated outside of the expectations of the FCA or the FOS you would be compensated appropriately.

Yours sincerely,

Paul Wyn Williams - MBNA Case Manager."

Answers on a postcard!!!

[Bill-K]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

I agree thoroughly, TC. The problem is that the regulation system is working - but for the wrong people, and for all the wrong reasons. I reckon that's what will make reform a difficulty.

[The Tech Clerk]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

says it all!!!!!!!!!!!!!

the whole parliamentary question needs overhaul = outdated and lost its way!!! regulators & self regulation doesn't work!X

[Bill-K]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Despite our efforts to make it as clear as possible what MBNA are up to in our detailed submission to the FCA (who requested it, I hasten to add) - and despite theirs and the FOS's assurances that this would looked into fully - it is now quite clear that our submission to the FCA has been completely ignored. I agree with AC that neither the FCA nor the FOS are fit for purpose, as they are clearly protecting their paymasters the banks and not the consumers.

[The Tech Clerk]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Sounds just like MBNA;
they fined me 22 times, whilst I had a claim in place and yes they do like to blame the insurer, who in turn blames Chester Towers. But IMHO both London & Edinburgh (part of the disgraced Norwich Union) and MBNA Europe Bank /MBNA Limited were/are totally incompetent...!

So, which insurer were they blaming; London & Edinburgh or, St Andrews? (MBNA changed their PPI insurer from London & Edinburgh to St Andrews in early 2005)?

was london & edinburgh then the actual one at the time was St Andrews.

[The Tech Clerk]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Sounds just like MBNA;
they fined me 22 times, whilst I had a claim in place and yes they do like to blame the insurer, who in turn blames Chester Towers. But IMHO both London & Edinburgh (part of the disgraced Norwich Union) and MBNA Europe Bank /MBNA Limited were/are totally incompetent...!

So, which insurer were they blaming; London & Edinburgh or, St Andrews? (MBNA changed their PPI insurer from London & Edinburgh to St Andrews in early 2005)?

was lon & edinburgh then the actual one at the time was St Andrews.

[Angry Cat]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Is it the same Vicki that is the Lead Adjudicator @ FOS?

Yes, the very same individual who clearly has not done her homework!

We have also had a letter from an oily rag in the Chief Ombudsman Office; Ms. Caroline Wayman. But this individual also clearly didn't have a dickybird about our original submission;
the FCA informed us that they had asked the FOS to investigate our concerns and then report back to the PPI math geek in the offices of the FCA.
Unfortunately, it has now become clear that bods within the FOS appear to have gone off at a tangent...?

[Angry Cat]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

But of course the other possible issue was;-
my O.,H. was made redundant and the fuss over payments to her , Insurer say MBNA problem and vice versa = They were demanding monthly PPI fees during claim and pestering via RMA also telephone harassment (wish I had known at the time?

she ended paying about £50-60 out of her unemployment monies no other Company I know charge fee during a claim period, anybody know my O.H. knows how nervous she is as a person, pity I found out to-wards end of the unemployment period,

I spoke to the insurer who stated nothing to do with them but MBNA and vice versa.

Sounds just like MBNA;
they fined me 22 times, whilst I had a claim in place and yes they do like to blame the insurer, who in turn blames Chester Towers. But IMHO both London & Edinburgh (part of the disgraced Norwich Union) and MBNA Europe Bank /MBNA Limited were/are totally incompetent...!

So, which insurer were they blaming; London & Edinburgh or, St Andrews? (MBNA changed their PPI insurer from London & Edinburgh to St Andrews in early 2005)?

[ken100464]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Same letter I have Niddy so no point sending you

[The Tech Clerk]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

But of course the other possible issue was;-
my O.,H. was made redundant and the fuss over payments to her , Insurer say MBNA problem and vice versa = They were demanding monthly PPI fees during claim and pestering via RMA also telephone harassment (wish I had known at the time?

she ended paying about £50-60 out of her unemployment monies no other Company I know charge fee during a claim period, anybody know my O.H. knows how nervous she is as a person, pity I found out to-wards end of the unemployment period,

I spoke to the insurer who stated nothing to do with them but MBNA and vice versa.

[The Tech Clerk]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

[The Tech Clerk]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

[The Tech Clerk]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Tech clerks O.H. MBNA has it on there