Were you mis-sold PPI from Egg? Egg PPI has affected thousands of people in the UK — and you could be one of them.
In 1998, Egg was the first of its kind: an internet bank. The only way to operate an account was via the internet or through the call centre. Since then, however, Egg bank was taken over and rebranded as Canada Square Operations. In 2011, Egg was sold to Yorkshire Building Society and Egg credit cards were taken over by Barclaycard. Egg mortgages, however, are now under control from Citibank. This means that depending on what product you had with Egg, you may need to contact different lenders.
Like many of the prominent banks in the 1990s, Egg mis-sold PPI to a great deal of its customers. In 2011, Egg was fined £721,000 for its misselling of PPI. The misselling occurred on 40% of all telephone sales. Employees actively encouraged people to purchase PPI by over-emphasising its benefits or even applying it to customers’ credit cards without them agreeing.
Egg is one of the many companies that purposely mis-sold PPI to millions of customers in the UK. Since the scandal came to light, banks have been paying back billions of pounds to customers who did not want PPI or were unaware that PPI was added to their products.
Since the scandal came to light, banks are paying back billions of pounds to customers who did not want PPI or were unaware that PPI was added to their products. To date, over £33 billion has been collectively repaid to customers. It is believed that over sixty million PPI policies were bought in the UK — this means that some consumers had more than one policy.
To put an end to the mis-selling scandal, the Financial Conduct Authority (FCA) announced that 29th August 2019 will be the deadline for making PPI Claims. This means it’s time to act now. With just seven months left to make a claim, the clock is ticking.
Canary Claims wants to help you reclaim your Egg PPI. If you were mis-sold PPI from Egg, we can contact the bank and find out if you could be owed money. If you have any questions, read on to find out how you can claim Egg PPI.
Can I Still Make an Egg PPI Claim?
Despite the handover of the company, it is still possible to make a claim against Egg. Any queries regarding Egg PPI mortgage claims now need to be sent to Canada Square Operations Ltd, part of Citigroup. If you have an Egg credit card PPI claim, this should be directed towards Barclays.
There have been many successful claims against Egg and there is still time to make a claim before the PPI deadline in August 2019. It’s important to make your claim against Egg well before the deadline as the process can easily take a few months. It’s also possible that claims may take longer the closer it gets to the deadline.
What Products was Egg PPI Sold with?
Egg credit card PPI was commonly mis-sold. This means if you bought a credit card from the bank, there is a good chance you could be entitled to compensation. Egg also sold PPI on loans and mortgages.
You will be able to check if PPI was added to your products by looking at previous statements and bills. If you no longer have this, you will still be able to make a claim. It’s possible to reclaim PPI with no paperwork, but it will make the process longer. If you don’t have the paperwork, you will need to contact the bank and ask whether it has a record of PPI on any previous product.
There are numerous reasons why you may have been mis-sold PPI from Egg. In some cases, the terms and conditions were not stated clearly, you may have felt pressured or been told it was necessary. In other cases, Egg employees told customers that the first month would be free and then they could cancel afterwards.
How to Make an Egg PPI Claim
If you need advice or assistance to make a PPI claim against Egg, Canary Claims can help. Egg credit card PPI still affects so many customers who never realised that it was added to their product.
You can make a PPI claim yourself or use the services of a claims management company, such as Canary Claims. We’ll happily assist you in finding all the details relevant to your account and handling all communication with Citigroup or Barclaycard. We aim to make all claims stress-free and strive to make sure you receive any money you are owed.
With the deadline fast approaching, we urge everyone to start their claim as soon as possible. Even if you don’t remember having PPI, it’s worth checking as you could be due a large windfall of compensation.