MBNA could owe you thousands of pounds due to mis-sold PPI. With our no win, no fee PPI claims, we can guide you through the process and make it stress-free.
MBNA isn’t a bank or credit card provider you’ll see on the British High Street. Until December 2016, MBNA was owned by an American credit card provider, under the umbrella of the Bank of America. However, Lloyds Banking Group bought MBNA for nearly £2 billion and all British accounts were transferred to Lloyds.
With 7 million customers in the UK, MBNA was involved in the PPI mis-selling scandal. So far, the banks have collectively paid out over £27 billion for PPI claims. Some customers were sold PPI without enough information about the insurance or felt obliged to buy it. MBNA hasn’t paid out as much as some of the banks. However, many customers are still owed money.
Operating on a no win, no fee basis, Canary Claims can help you make a claim against MBNA to receive any money you are rightfully owed. Read through all of our information below to find out about how much you could be owed from MBNA and how to make a hassle-free claim.
Is it Still Possible to Make a PPI Claim Against MBNA?
Despite the takeover from Lloyds, it is still possible to make a claim against MBNA. The bank has taken responsibility for the PPI claims from MBNA.
During the buying process, Lloyds bank was seeking compensation from Bank of America for the payouts that it would have to offer MBNA customers after the takeover.
How Much Money Am I Owed from an MBNA PPI Claim?
It’s always difficult to know exactly how much money you could be entitled to from a PPI Claim. However, one of the biggest success stories came from an MBNA PPI claim. One customer received payments of £65,000. This was from two credit cards with the bank. The customer wasn’t even eligible to use the PPI insurance she had bought, as she was self-employed and the insurance covers loss from a job.
Some industry experts believe that due to being an American company, MBNA pays out less than high street banks. If you are unhappy with a payout from MBNA and feel that more money is deserved, it is possible to take the case to the financial ombudsman. Due to a backlog of PPI complaints, the ombudsman can take up to two years to review a case.
This is one of the many reasons that the Financial Conduct Authority (FCA) has set a PPI deadline. PPI claims now need to be made by August 2019. The FCA is hoping that the deadline will motivate people to start claiming if they have been putting it off.
How Can I Make an MBNA PPI Claim?
As one of the best PPI claims companies, Canary Claims can help you make a PPI claim against MBNA. When you discuss your case and details with our dedicated team, we will be able to make a claim on your behalf.
All you need to make a claim is your paperwork from when you had an account. However, if you no longer have the paperwork, this isn’t necessarily a problem. With sufficient details such as name and contact details of when you had an account with MBNA, we can find out the information you need and make a claim.
Start your MBNA PPI claim now with Canary Claims. Offering a no win, no fee policy, Canary Claims offer an incredibly low rate of 15% + VAT. Why wait? Call us today on 0800 634 8668.