A new survey by Which? published on 19 June 2019, titled 'Widespread misconceptions over PPI claims process' highlights just how much confusion there still is about PPI, the claims process and who can claim. The damning report reveals that after all the publicity and awareness about PPI, the public is still not clear on who can claim and how much of a form, sent by a bank needs to be completed at the initial stage.
The report focuses on bereaved families and the lack of awareness that a claim can be made for a deceased relative.
Out of the 2084 sample surveyed, only one in six knew that a claim could be made for deceased relatives, whereas two in three said they didn't know and one in five answered incorrectly.
A surprising revelation was from people who had already made a successful PPI claim, 55% didn't think they could make a claim for a deceased relative and 23% thought this was untrue.
Banks tend to send out long and sometimes complicated forms for customers to complete. Only one in seven people knew that the entire form doesn't need completing to progress a claim, however nine in ten people didn't know that this was the case.
There seems to be general consensus that claiming mis-sold PPI is a complicated process. It is worrying that as the August 2019 deadline approaches,those who are entitled to claim are not doing so because of a lack of knowledge of how the process actually works.
The questions asked in the Which? misconceptions survey are reproduced in the table below. All questions were asked with 'true', 'false' or 'don't know' answer options.
|Statement||% that answered true||% that answered false||% that answered don’t know|
|I can claim mis-sold PPI on behalf of a deceased relative||17%||19%||64%|
|The process for claiming mis-sold PPI requires me to complete all forms sent by the bank or provider in response to my initial claim||36%||15%||50%|
|I can request the provider to access my personal information to see if they mis-sold PPI across any of my products||56%||4%||40%|
|If I make a claim for PPI to my bank or provider for a specific product, it will automatically check against all products I had with them||28%||19%||53%|
|I can take a claim to the Financial Ombudsman even if the bank or provider says I cannot||52%||5%||42%|
|If the Financial Ombudsman has rejected my claim, the only option is to go to the small claims court||22%||11%||67%|
|If a bank or financial provider has failed or ceased trading, I cannot make a claim for mis-sold PPI||10%||33%||57%|
|If you have made a successful PPI claim, you may also be entitled to claim back for taxes you were not meant to pay and that was automatically taken off||27%||9%||64%|