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Arnold is ‘Likeable Enough’ to be Blunt in His PPI Claims Commercial

It looks like an acerbic joke. Arnold Schwarzenegger’s young animatronic counterpart bursts out of a stall of apples to tell you that you need to make a claim for a wrongly-sold insurance policy you never meant to purchase. It grabs your attention, it is silly, but you have to admit that it is effective.


According to M&C Saatchi’s presentation of the idea to the FCA, as per their presentation deck, Arnold is a “doer, not a talker” and if he told you to do something you would. However, unlike other action stars during his time, Arnold is “likeable enough” to get away with his direct-to-the-point script.

There is no denying the Terminator star is familiar to anyone, even to children not born in the 80s. However, the use of Arnold’s animatronic equivalent is hilarious and bizarre, as many consumers have reacted towards the advertising campaign.

Saatchi said the campaign is not about liking the advertisement, but rather, the medium makes a mark and drives home its message that it is time to act upon the consumer’s mis-sold insurance product. According to the creatives group, Arnold’s character will continue to evolve in further commercials concerning reclaiming refunds from banks, and it will be hilarious and still bizarre, probably.

Three Things To Remember Before the PPI Claims Deadline in 2019

The FCA made good on their word… for the banks. The bank industry gets relief because after August 29, 2019, the UK watchdog will disallow or invalidate all future complaints for payment protection insurance. Before you dive in, make sure you still remember how to make a proper mis-sold PPI claim to get all your refunds in full.

Data Access Request

All UK consumers can ask for a data access request from banks. The data from a DAR goes beyond six years, which allows even mortgage payers to see whether they were mis-sold the notorious insurance policy. It also helps bypass the need to get all your physical receipts for payment protection insurance.

PPI Claim Form

The Financial Ombudsman Service has a PPI claim form. Users can write down the specifics of the financial product they own, the amount they pay for the insurance policy on a regular basis, and the manner the bank agent had mis-sold the financial product to the customer.

The Financial Ombudsman

In the event the bank’s final evaluation of the insurance policies are ineffective to the consumers point of view, they can challenge the judgement using the Financial Ombudsman Service. The banks will handle all administrative costs of the re-evaluation. Consumers have nothing to lose to have the FOS sort out the ongoing issues

Three Signs a Financial Product is Bound for a Gigantic Scandal Similar to PPI Claims

According to FT journalist Paul Lewis, there are tell-tale signs that help consumers and experts spot whether a financial scandal is on the horizon. Lewis points out that banks will always “lead the field” regarding financial products used for profiteering rackets similar to payment protection insurance in the United Kingdom. Citing studies, he unveils the three characteristics of future financial scandals.


Banks Will Lead

The CCP Research Foundation states that the PPI scandal is the result of banks using concealed tactics to suggest to consumers a product they wish they will not discover as wrongly sold. Banks will never stop using financial products in this manner in the future.

Guaranteed-Return Products

Any financial product or investment option given to consumers is always added with salt by banks. According to Lewis, any product that will suggest a risk-free and guaranteed return should be viewed with extreme scepticism. A 50% return, even if it seems reasonable, is not realistic. A better figure is 6% or even less.

Lack of Research

A shady market is not exactly hidden from the public, but it makes promises that sometimes investors do not understand. Lewis said that in the case of mis-sold PPI, consumers only knew their bank employees had knowledge of PPI and said it gave better chances of earning loan approval. A product or service not thoroughly explained is the biggest sign of an impending financial scandal.

FCA Advertising Campaign for PPI Mis-Selling Begins

An animatronic Arnold Schwarzenegger hilariously greeted TV viewers in the last few days in the FCA’s latest advertisement that advertising agency M&C Saatchi had developed specifically for payment protection insurance claims. According to observers, the FCA is hoping to “annoy” consumers into making a complaint or inquiry regarding their insurance policy before August 29, 2019, the appointed PPI claims deadline.

Arnold Schwarenegger’s real voice was used in the advertisement. However, his representation is a funny, sketchy version that pops out of nowhere with a message: “Do it now.”

The message reflects the FCA’s call to all consumers nationwide to process their enquiries at the soonest possible time. The City watchdog believes UK’s consumers do not find it compelling to process their PPI claims because there is no deadline or deterrence for them to do it without trouble.

However, consumer groups rebut the FCA’s statement, stating that consumer morale to make a complaint is low because of the incompetence of the banking industry to make the complaints system integrated and simple.

The City watchdog has called on the financial sector to improve its services for customers complaining about their wrongly-sold financial products. However, the banks have yet to show signs of improvement in the system to have them do the complaints by themselves and not with CMCs.