Sep 26, 2018

Barclays admits PPI compensation error

Since 2012, Barclays has provided an online PPI checking tool where these firms can submit requests in bulk for up to 50 customers at a time. The bank said that in "Less than 1.1%" of those cases where requests came via claims management companies, customers were wrongly told that they did not have PPI. Barclays has put it down to an error which meant that those bulk requests were not always checked against some of the records they hold. It submitted a bulk request through Barclays' system and received the same response - that Stephen Pearce did not have PPI. It was only after his claims management company then complained that Barclays finally wrote back to say that he had held PPI after all on a credit card. FCA. Barclays said it had been unable to find any record of the initial telephone call which Mr Pearce says he made and so concluded that "There is no evidence to suggest that any customers received an incorrect PPI decision when they contacted us directly". In relation to the problem with its bulk request tool, Barclays said "We identified through our own review that a very small percentage of customers were given the wrong information when they contacted Barclays via a Claims Management Company to find out whether they had ever held a PPI policy on their account".

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