Lloyds’ customers still suffering lengthy delays, and mounting frustration, in obtaining PPI refunds
Banks are expected to settle missold PPI complaints within eight weeks but this does not include the time taken to send out the cheques. The rules state that payment must be made promptly, without defining “promptly”, but could reasonably be taken as 28 days. Anyone who has already complained to the Financial Ombudsman about PPI can also object if they are waiting longer than this, but if they haven’t already complained they would be treated as new complainants and their complaint will take longer to process.
This is what Lloyds’ customers say: “There is an outrageous expectation that you should sit tight and just wait for a seemingly infinite timescale for money that you are due.”
“This claim to date has taken 234 days and seems to be no nearer to a conclusion than when I started.”
“In December I received a part payment of £8,290 from the £20,700 refund agreed. I am still waiting for the balance.”
“We are owed over £6,000 and have no idea when we will receive payment although it was promised in writing last August and within 28 days.”
“I was told I would not get the money by the date I had been given, they couldn’t give me a date. They had no idea when I would get my money.”