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PPI CLAIMS DEADLINE
29th Aug 2019

Royal Bank of Scotland Credit Card PPI Claim

royal-bank-of-scotland-credit-card-ppi
Did you have PPI with your Royal Bank of Scotland Credit Card?

YOU COULD BE OWED £1,000s IN PPI COMPENSATION ON YOUR ROYAL BANK OF SCOTLAND CREDIT CARD ACCOUNT


People who use credit cards can find themselves in situations where they cannot repay what is owed, so end up in debt. For this reason customers would want something like payment protection insurance (PPI) to protect their repayments.

The PPI would be payable as a monthly fee on top of the charges the customers pays each month.

PPI can be a useful product if sold in the right way, however, lenders took advantage of the situation and mis-sold the policy purely for boosting their profits.

Royal Bank of Scotland PPI on Credit Card Accounts

If you were one of the approximately 10 million people who took out a credit card with PPI between 1988 and 2011, you need to check if you were mis-sold the PPI.

Customers who signed up to a credit card with Royal Bank of Scotland also had PPI available to them but if the PPI was mis-sold, then compensation may be due.

However, there is a deadline from the Financial Conduct Authority of 29 August 2019. If you have a mis-selling claim with Royal Bank of Scotland about how PPI was sold to you, it must be received by Royal Bank of Scotland on or by 29 August 2019.

Royal Bank of Scotland credit cards were sold as a convenient line of credit for customers who could not or did not want to pay in full in one transaction.

Generally, many retailers made a profit on shoppers who failed to pay off the balance on the card each month, when outstanding balances would attract interest charges.

Grounds on Which Credit Card PPI May Have Been Mis-Sold By Royal Bank of Scotland

Lots of people took out PPI cover with their credit cards believing that it boosted their likelihood of being accepted, or that the policy was a necessity. There are a number of ways in which PPI may have been mis-sold:

  • Quite simply, did you know you Royal Bank of Scotland had included PPI with the credit card? If you have it and the sales staff never made you aware of this, it may have been mis-sold to you.
  • If you were unemployed, retired or a student, and you were advised by Royal Bank of Scotland to take out PPI, you may have been mis-sold the cover because it might not have been possible for you to ever claim on it.
  • Did Royal Bank of Scotland check if your employer provides full sick pay? If you have this cover with your employer there was no need for you to have PPI as you would not struggle meeting your card payments.
  • Did you already have PPI insurance in place? If so, there was no need for you to have a new policy.
  • Did you feelcompelled to have PPI by Royal Bank of Scotland to boost your chances of being accepted for the credit card? If so, you may have been mis-sold. PPI is an optional extra that should have no bearing on your chances of obtaining a credit card.
  • Was everything involved with the PPI explained properly to you? If you did not receive a full cost breakdown, or Royal Bank of Scotland failed to explain the exclusions to you, you may have been mis-sold.

What Do I need To Start a PPI claim with Royal Bank of Scotland?

Start by finding your paperwork with evidence of mis-sold PPI. You will need this to make a claim.

If you notice that your account had PPI attached to it, think back to when it was sold to you. Can you remember:

  • When or why you agreed to it?
  • If you were informed that it would be added?

If you can’t remember please don’t worry as this can be done during the PPI check with Royal Bank of Scotland.

How to start your PPI Claim with the Royal Bank of Scotland?

Please Note: The PPI deadline (29th August 2019) set by the FCA has now passed and we are no longer accepting any new PPI claims.

PPI DEADLINE FAQ’s

Is There Any Leeway In Deadline Timing?

No – the deadline is absolute. If the claim is not properly logged with the lender before midnight on August 29th it will be officially time-barred.

I already have a case(s) going through with you, what will happen to them?

The deadline is for new claims only. All existing claims will be investigated and decided normally.

I have had a case with FOS through you for ages – what will happen to it now?

All FOS investigations of current claims will be unaffected by the deadline. It is for new claims only.

Will the deadline cause any delays in my case?

No – existing cases will be processed as normal with a final decision expected within 8 to 16 weeks of acknowledgement of the claim by your lender.

What if the bank wants more information?

A request for further information from the bank means that it has been accepted and is under investigation. The usual timescale of 8 to 16 weeks for a decision will still apply.

Why is there a deadline?

The deadline was set in place by the Financial Conduct Authority (FCA), which is the UK’s financial regulator. It’s chief executive, Andrew Bailey, said at the time: “Putting in place a deadline and campaign will mean people who were potentially mis-sold PPI will be prompted to take action rather than put it off. We believe that two years is a reasonable time for consumers to decide whether they wish to make a complaint.”

“We have carefully considered the feedback we received and we still believe that introducing a deadline for PPI complaints and a communications campaign warning of the deadline will benefit consumers.”

What happens after the deadline?

The deadline is for new claims only. If your claim has already been lodged with your lender then it will be fully investigated.

What happens if my case is rejected by the lender?

If your claim is rejected then it will be passed to our specialist team who will evaluate the terms of the rejection to see whether an appeal to the Financial Ombudsman Service (FOS) might be possible and advise you of their findings.

Plevin Ruling – Making a High Commission PPI Claim with Royal Bank of Scotland?

If you have raised a previous PPI complaint with Royal Bank of Scotland which was not upheld, you are now be entitled to raise a further complaint relating only to the commission charged under the Plevin ruling on your PPI policy. Learn more about PPI High Commission PPI claims.

Credit card providers who are facing Mis-sold PPI queries:

American Express Credit Card PPI Claim

Aqua Credit Card PPI Claim

Bank of Scotland Credit Card PPI Claim

Barclaycard Credit Card PPI Claim

Capital One Credit Card PPI Claim

Clydesdale Bank Credit Card PPI Claim

Halifax Credit Card PPI Claim

HSBC Credit Card PPI Claim

Lloyds Credit Card PPI Claim

M&S Bank Credit Card PPI Claim

MBNA Ltd Credit Card PPI Claim

Nationwide Credit Card PPI Claim

NatWest Credit Card PPI Claim

Nuba Credit Card PPI Claim

Ocean Finance Credit Card PPI Claim

Post Office Credit Card PPI Claim

Santander Credit Card PPI Claim

Sainsbury’s Credit Card PPI Claim

Tesco Credit Card PPI Claim

The AA Credit Card PPI Claim

TSB Credit Card PPI Claim

Vanquis Credit Card PPI Claim

Virgin Money Credit Card PPI Claim

Yorkshire Bank Credit Card PPI Claim


IMPORTANT NOTICE!

WE ARE NO LONGER ACCEPTING NEW PPI CLAIMS!

The PPI deadline has now passed and we are no longer accepting any new PPI claims.

Please be assured, if you have already enquired about a PPI Claim with Money Management Team Limited we are processing your enquiry and will update you as your claim progresses. If you need an update in the meantime, please contact us.

You can pursue your own claim direct to the firm to obtain a refund. You can do this for yourself at no cost and then use the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) which are both FREE.

£Millions Remain Unclaimed!

Important Information


Your PPI Claim starts with a Free PPI Check service.
Our PPI Claim fee of 20% + VAT (so 24% of the total redress offered by your lender) is payable if your claim is successful. That means if we don’t recover you anything, you don’t pay us a penny.

You can submit a claim directly to the lender yourself for no charge. You can also approach the Financial Ombudsman Service and Financial Services Compensation Scheme for free to review your case, providing it falls within their remit and you have approached your lender first.

UK Expats & Non-British Nationals

Expat PPI Claim

Did you have a loan, credit card or mortgage in the UK between 1988 and 2014? As a British Expat or Non-UK National who has lived in the UK for a long period, it is likely that finances were arranged while you were a resident in Britain. This may include loans, mortgages or credit cards and, even though you are no longer living in the country you can still claim mis-sold PPI. You could be eligible to claim for mis-sold PPI!

Our Fees

Your PPI Claim starts with a Free PPI Check service. Our PPI Claim fee of 20% + VAT (so 24%° of the total redress offered by your lender) is payable if your claim is successful. That means if we don’t recover you anything, you don’t pay us a penny