Santander could owe you money for mis-sold PPI. Don’t lose out before the PPI deadline.
Santander PPI is owed to thousands of customers in the UK. The newly announced PPI deadline from the Financial Conduct Authority (FCA) means that time is running out to make a claim, with a cut-off date for making PPI claims is 29th August 2019. You must start your claim before this date in order to receive any money you might be owed.
Since 2011, the banks have paid out over £25 billion due to the misselling scandal. Even with the upcoming deadline, banks are still putting aside money to pay for refunds. The final figure before the deadline could be nearly £30 billion.
If you believe that you were mis-sold PPI from Santander, it’s not too late to make a claim. Read our information below to find out what products Santander PPI was sold on and how you can make a claim. Canary Claims is here to help you every step of the way.
How Much Has Santander Paid for Mis-Sold PPI?
Santander has paid out £1.7 billion due to the PPI scandal. Last year, the bank set aside another £450 million for PPI refunds. It’s one of the most high-profile instances of a high street bank having to heavily compensate customers for the misselling. It’s hit the bank hard and has put a lot of financial strain on the company.
In 2015, a claim which was previously rejected by Santander resulted in a £25,000 payout. This case demonstrates that it’s not too late to try and make a PPI claim which could see you compensated with a large sum of money. Cases which were once closed could be reopened and investigated again. This particular case was related to a Debenhams store card.
What Products Was Santander PPI Mis-Sold on?
For Santander customers, PPI was mis-sold on mortgages, credit cards and loans. If you bought one or more of these products, you could have been mis-sold PPI. Many people were sold PPI on multiple products, which is why it’s important to check everything.
Store cards have also been known to be charged with PPI. Many store cards in the 1990s and 2000s were owned by Santander. Regarding the case above, the company at the time that owned Debenhams store cards was GE Capital Bank. In 2008, they were charged a fine for misselling PPI with store cards. The following year, Santander bought out GE Capital Bank.
There has been some confusion about who to contact regarding PPI complaints and store cards owned by GE Capital Bank. However, as we can see from the above case, Santander is paying out for these store cards.
How Can I Claim Back Santander PPI?
Canary Claims has been helping customers claim back PPI for nearly a decade. The first step is to find your paperwork from the account you set up with Santander. Your paperwork will indicate whether PPI was added onto your sale. It may be labelled as some other kind of insurance.
If you cannot locate your paperwork, Canary Claims will still be able to find out this information for you. If we discover that PPI was sold onto your product, we will contact the bank and find out if you are due compensation.
We will keep you informed during every step of the process. Making a claim can take three or four months, which is why it’s important to start as soon as possible.
Canary Claims are regulated by the Claims Management Regulator and provide a low service fee of 15% + VAT. Offering a no win no fee service [Cancellation charges may apply only if the claim is cancelled after the 14 days cooling off period. The fee would be based on the work done at the time of cancelling at a rate of £120 per hour and up to a maximum total of £180] we are the best PPI claims company to handle your Santander PPI.