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