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FREE PPI CHECK *

PPI CLAIMS DEADLINE
29th Aug 2019

Royal Bank of Scotland Bank Loan PPI Check

What is Royal Bank of Scotland PPI?

There are many ways of referring to Royal Bank of Scotland payment protection insurance (PPI), these include credit insurance, credit protection or loan repayment insurance. The purpose of PPI was to help a borrower make their repayments to Royal Bank of Scotland if they couldn’t due to an unforeseen event, such as sickness, injury or redundancy.

PPI is often confused with income protection insurance. They are two completely different products. PPI provides short-term cover and is provided alongside loan and credit products. Any pay-outs under PPI go straight to the loan provider instead of the policyholder.

Income protection insurance is designed to cover 70% of the policyholder’s income if they can’t work due to accident or sickness. This is long-term protection and can cover a person until they retire if they are too ill or injured to work.

Many PPI policies sold by Royal Bank of Scotland were added on to a loan, credit/store card, mortgage or an overdraft.

The duration of Royal Bank of Scotland PPI usually covers a period of 12 months allowing the borrower to time to seek employment or return to work, if appropriate.

How was Royal Bank of Scotland PPI mis-sold?

Some customers were sold Royal Bank of Scotland PPI without knowing it had been added to their loan. Consumers say that Royal Bank of Scotland advised them their loan, mortgage or credit card application would not be approved if they didn’t buy Royal Bank of Scotland PPI. This meant borrowers took out the Royal Bank of Scotland PPI, even though they may not need it because they didn’t want to risk losing the deal.

Were you mis-sold PPI by Royal Bank of Scotland?

It is possible PPI may have been mis-sold by Royal Bank of Scotland if any of the following facts occurred at the point of sale:

    • Were you unemployed, self-employed or retired at the time Royal Bank of Scotland sold you the PPI policy?
      • Had you been unemployed, self-employed or retired when you were sold your PPI policy by Royal Bank of Scotland, you would not have received any benefit from it as you would not have been covered.
    • Did you know that PPI had been added to your agreement by Royal Bank of Scotland?
      • If you had no idea that Royal Bank of Scotland had added PPI to your agreement, it could have been done without your consent. Alternatively it could have been an opt-out box that wasn’t clearly visible.
    • Had the Royal Bank of Scotland explained the total cost of Royal Bank of Scotland PPI to you at the time of sale?
      • All costings relating to the PPI should have been explained to you by Royal Bank of Scotland. This will be a major mis-selling factor if it wasn’t done.
    • Did Royal Bank of Scotland make it known that that some of the PPI premium may have been paid as commission?
      • If more than 50% of your PPI premium was paid as commission to Royal Bank of Scotland, this is classed as high commission under the Plevin rule. You were mis-sold and due a PPI refund.
    • Were you made aware by Royal Bank of Scotland that you could cancel the PPI policy?
      • Royal Bank of Scotland should have explained that you had a cooling off period and could exercise your right to cancel the PPI policy within that time.
    • Were you made aware by Royal Bank of Scotland of any circumstances or exclusions where you would not be successful in making a claim?
      • If Royal Bank of Scotland had not made clear any exclusions or circumstances that would prevent you from claiming, you may have been mis-sold Royal Bank of Scotland PPI policy.
    • Were any enquiries made by Royal Bank of Scotland if you had other PPI cover that would cover repayments?
      • Royal Bank of Scotland has a responsibility to find out if you had sufficient PPI cover elsewhere.
    • Were you pressured into purchasing the Royal Bank of Scotland PPI policy?
      • Royal Bank of Scotland should have looked at your personal situation to assess if you would benefit from having PPI without any pressure or hard-sell.
    • At the time of taking out the PPI policy with Royal Bank of Scotland, did you have any pre-existing medical conditions?
      • If you had any pre-existing medical conditions that meant you could not have worked for the duration of the Royal Bank of Scotland PPI term, you would not be covered by the Royal Bank of Scotland PPI policy.
    • Was it implied to you that Royal Bank of Scotland PPI was necessary to get the finance?
      • If the finance sought was such that required a PPI policy, Royal Bank of Scotland should have let you know that you could shop around to find and compare PPI cover or if you already had PPI in place, Royal Bank of Scotland should not have sold you their PPI policy.
    • Did Royal Bank of Scotland PPI have an upper age limit, if so, were you older than it?
      • If Royal Bank of Scotland PPI specified an age limit for cover and you were older than this, you would not be covered by the policy.
    • How long was the term of Royal Bank of Scotland PPI, was it was shorter than the term of finance agreement? Did Royal Bank of Scotland explain that there would also be a period of no cover towards the end of the finance agreement?
      • If Royal Bank of Scotland didn’t explain that you would have a period of no protection during the term of the finance agreement, you Royal Bank of Scotland PPI policy was mis-sold to you.

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What could you claim from Royal Bank of Scotland?

If your claim against Royal Bank of Scotland is upheld, you may receive a full refund of PPI paid to Royal Bank of Scotland, including any interest charged on the PPI. Statutory interest of 8% per year would also be payable on the premiums and any interest charged.

How to Make a PPI Complaint to Royal Bank of Scotland?

The Financial Conduct Authority (FCA) has set a deadline of 29 August 2019, by which time all PPI complaints will need to have been submitted. After this date, customers will lose the right to have their complaint assessed by us, or the Financial Ombudsman Service.

If you have previously received a letter from Royal Bank of Scotland outlining potential concerns about the way PPI may have been sold to you, then you may have less time, so it is important to act as soon as possible.

Please be assured that by checking or complaining about PPI to Royal Bank of Scotland, neither your relationship with, nor your credit score will be adversely affected in any way.

If you have a concern about how your PPI Policy was sold, it’s easy for you to contact us directly to discuss and start your check PPI for FREE.

We understand consumers may require different levels of assistance and are committed to making your check PPI** and claim process as simple as possible. Our process has been designed to make it as easy as possible for everyone wishing to make a complaint.

We’d like to discuss the details of your case with you so your complaint can be lodged as quickly as possible with Royal Bank of Scotland to find out if you had any PPI charges on your loan or finance agreement.

If you had a loan, Credit Card, Store Card, car finance, Mortgage or a catalogue account between 1988 - 2014?

You May Be Owed £1000's

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PPI Check Process Steps

1. We call you to start your PPI Check & Complete Forms

For us to proceed with your FREE PPI Check**, we will need to speak with you to confirm some details, including your FULL NAME, DATE OF BIRTH, and ADDRESS DETAILS (CURRENT AND PREVIOUS). We will also discuss which lenders we can investigate for you.

Once we have set up your PPI Check, we will post forms out for you to read, sign and return to us. You can call us on 0333 443 2500 if you notice any details need changing.

2. You Sign, Date Documents & FREEPOST Back to Us

Sign and date the forms and return to us in the free post envelope provided – no stamp required!

3. Your PPI Check(s) are Registered with Lender(s)

We register your PPI check with your lender.

On average, a response will be issued within 6 weeks from your PPI information check being sent to your lender, although timeframes vary dependent upon the lender.

4. The Lender(s) Locate & Verify Account Information

If your lender cannot locate you or requires verification in order to release details, we will be in contact to obtain some further details of you in order for us to return them to complete the check.

5. Account(s) & PPI Status Confirmed by Lender(s)

Once you have been located/verified, your lender will return to us with confirmation of all accounts you have held with them for as far back as their records go. They will also confirm the PPI status of each account.

6. PPI Check Outcome(s) & Options Are Discussed With You

  • If you have not paid PPI, we will contact you to advise you of the same.
  • If your lender is unable to confirm whether PPI is on a particular account – we will contact you to advise you of your options moving forward on the possibility of presenting your claim for your refund.
  • If PPI is located on your account – we will again contact you to advise you of your options moving forward on presenting your claim for a refund.

  • A Special Note For Multiple PPI Checks

    If you have multiple checks with us for multiple lenders, the time-frames of responses from lenders may vary, however we will always ensure that we advise you of which lender correspondence refers to and be available for support and guidance throughout this process on 0333 443 2500, should you so require.

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