March 2013 Newsletter The ABC Newsletter
Champagne Moment for Cleethorpes Couple
Welcome to ABC’s March newsletter. Each month we will be keeping our customers informed with all the latest from the world of PPI as well as news and offers from ABC and our partner organisations. We’ll also be running a monthly prize giveaway for all of our customers. We hope you enjoy the read and please visit us online for more information about ABC.
A couple are celebrating after receiving a refund of £24,000 for mis-sold PPI that they were not aware they had taken out. Ray and Christine Whitby of Cleethorpes, Lincolnshire, made their claim after visiting a neighbour who was with a consultant and in the process of checking her own PPI through ABC.
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Speaking after receiving the pay-out Christine Whitby said, ‘It came as a complete surprise, I was simply just talking to one of my neighbours and she was doing a PPI claim through ABC and she asked me to sit and accompany her during her consultation. Whilst there I filled a little card in and then a representative came around to see us. I actually put that off about three times because I definitely didn’t think that we had anything to claim.’ ‘We received £24,000. We started the process at the beginning of December and it’s all been paid by the end of January when the final cheque came through. ‘We had four agreements but at first we thought we only had two. We had our first letter come through, then another one. Then we received another letter from Black Horse which said we would get £11,000. We thought that was the total of the three offers together but then we checked the numbers and realised it was another one, so we opened a bottle of bubbly!’ Having now made their claim Mr and Mrs Whitby can look forward to enjoying the money they have received. Mr Whitby said, ‘I’m 60 next year so we’re looking forward to it, we’ll have a little cruise, well a big cruise now. It’s come in really well, we’ll make a few moderations to the house and treated the family. It’s money we wouldn’t have had and we didn’t know about.’ Click here to watch the full interview with Ray and Christine on the ABC YouTube channel. Mr Stewart of Lincolnshire who received £11,000 said: “I was more than pleased with the service ABC provided for me. I had the details for one loan which I thought I may be able to claim on but it turned out that ABC were able to find that I was actually entitled to claim on two others, even though I didn’t have the paperwork.
March 2013 Newsletter Lloyds Adds £1.4bn to Compensation Fund Lloyds has announced that it is setting aside a further £1.4billion to its fund to compensate customers who were mis sold payment protection insurance by the bank. The announcement will take Lloyds’ total provisions past £6billion and edge the total set aside by the major banks and lenders over £14billion. Last month Lloyds was fined £4.3million after the Financial Services Authority found that the bank was delaying payments to over a quarter of customers who had successfully claimed back mis-sold PPI. In some of the worst cases customers had waited over six months to receive their payments. Banking rules state that the banks must pay out the customer’s money within 28 days of offering compensation. The comes PPI compensation Makein atheir Referral to ABC RBSnews Adds tojust PPIa day after Royal Bank of Scotland set aside a further £450million fund as they announced annual losses of over £5billion.
Compensation Fund as Losses Announced
Royal Bank of Scotland has announced a £5.17billion loss for 2012, its fifth annual loss since the bank was bailed out by the taxpayer in 2008. The bank also added a further £450million to it’s PPI compensation fund, bringing the total amount set aside by RBS to cover the mis-selling of payment protection insurance to £2.2billion. As well as the money set aside to cover mis-sold PPI, the bank also added £650million to cover the interest rate swap mis-selling scandal. RBS had previously been fined £390million for rigging the Libor rate, the rate at which banks lend money to each other.
and earn £25
ABC are offering £25 as a thank you each time somebody you refer to us makes a claim. If you would like to refer one of your friends or a member of your family to us please email firstname.lastname@example.org with the details of the person you would like to refer. There is no limit on the amount of referrals you can make. You can help your friends and family and earn money for yourself at the same time.
Despite the loss RBS paid out £679million in bonuses during the year.
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RBS Chief Executive Stephen Hester said, ‘2012 saw landmark achievements for RBS. It was also a chastening year. Along with the rest of the banking industry we faced significant reputational challenges as we worked with regulators to put right past mistakes.
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‘We are determined to overcome the cultural and reputational baggage of pre-crisis times with the same focus we have applied to the financial clean-up from that era.’