Business Account PPI ?

[Chris P]

Hope someone may have come across this or might know someone that has.

 

Roughly ten years ago i opened a business bank account with a large high street bank, At the time i was told i would need insurance to cover any time of sick, or overdraft payments which they would provided, I recall saying that i did not want it but was told i couldn't have the account if i did not have it.

 

It has been paid for a number of years and i really want to know if any one else has had the same thing. I would like to see if i am owed anything back.

 

I don't like jumping on a band wagons but for the possible amount this is something that i may well do.

 

Any one had any success with reclaiming money?

 

Thanks all

 

Chris

[csservices]

Am in the process of trying to do it with mine now, have a look here The Consumer Forums , the guys on there have given me lots of advice on various subjects and you can also find the letter templates etc you need

[Chris P]

Great Stuff! Thanks for that link, I'll be looking after dinner

[skyhuck]

Did you qualify for the insurance, could you have made a claim?

 

Thats the crux of the whole PPI situation, it was sold to people who could never claim, hence the "miss selling".

 

I have borrowed about £100K over the last 15 years, but I always refused PPI as I knew that being self-employed I would not be able to claim on it.

 

I would imagine that the PPI for a business account would be designed for the self-employed and that under the correct circumstances you could have claimed, which would mean it was not miss sold.

[csservices]

Did you qualify for the insurance, could you have made a claim?

 

Thats the crux of the whole PPI situation, it was sold to people who could never claim, hence the "miss selling".

 

I have borrowed about £100K over the last 15 years, but I always refused PPI as I knew that being self-employed I would not be able to claim on it.

 

I would imagine that the PPI for a business account would be designed for the self-employed and that under the correct circumstances you could have claimed, which would mean it was not miss sold.

 

It all depends on the wording in the t's and c's I have already managed to reclaim some off Natwest due to the wording in their terms not covering self employed although they were fully aware that I was when I took it out, trying to get Lloyds to cough up the relevant paperwork for me to look at at present.