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Check for PPI on your Barclays:

  • Barclays Loan PPILoans
  • Barclays Credit Cards PPICredit Cards
  • Barclays PPI Claims
Our Simple Process
  • PPI Claim Step 1
    STEP 1Complete Our Simple 2 Step Claim Form
  • PPI Claim Step 2
    STEP 2Receive Free Pre-filled Forms In The Post
  • PPI Claim Step 3
    STEP 3Sign The Letter Of Authority & Return To Us
  • PPI Claim Step 4
    STEP 4If you've paid PPI, we can process your claim & retrieve your refund*
*There is no pressure, if you decide to handle the claim yourself that's absolutely fine.
 

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      What happens now?

      We’ll post you a FREE pack with all of your forms pre-filled

      Sign & date the Letter of Authority and return the pack ASAP

      Once we receive your pack, we will process your claim to identify if you have a PPI refund due.

      Barclays PPI Claims

      In the last few years it’s been nearly impossible to avoid Payment Protection Insurance and the furore that has surrounded it. We’ve all seen seen the news and heard the advertisements and it’s very difficult to avoid what has garnered national media scrutiny.

      The PPI scandal is the biggest and costliest scandal to ever hit the UK financial sector and we’re here to inspect everything PPI and how we can help those who may have been mis-sold claim back the cash that the banks took unlawfully from hard working people.

      5 biggest banks in the UK have set aside a further £32.6 billion to deal with the total compensation bill.
      What is Payment Protection Insurance?

      To fully understand the various factors that built PPI into such a large scandal, it’s important to break it down. Payment Protection Insurance was an optional insurance policy that was attached to financial products like mortgages, loans, credit cards and car finance policies. The idea is that this covers re-payments on any of the above products if the holder was for some reason unable to do so.

      There are numerous reasons that could prevent a policy holder from being able to meet their monthly repayments, these are typically:

      Who Are Barclays?

      Barclays traces its history back almost 300 years back to 1690, when John Freame and Thomas Gould started out as Goldsmith Bankers. In 1736, following John Freame’s retirement, the familiar name of James Barclay became partner, turning it to Freame and Barclay.

      In 1819 the Stockton and Darlington Railway was built with funding from Barclays, becoming the world’s first industrial steam railway.

      Barclays, Bevan, Tritton & Co. joined 19 other banking businesses in 1896 to form Barclay & Company Limited.

      In 1966, Barclays launched Barclaycard, starting a trend that made money more accessible than ever before. Barclaycard got going in Northampton, where a small team of under 10 converted a shoe factory into Barclaycard HQ.

      The evolution of the debit card was continued in 2007 when Barclays launched the UK’s first contactless card, an idea which has gone on to be used for 1.1billion payments totalling over £9bn.

      PPI Barclays Chart

      Source: FT Graphic

      5 biggest banks in the UK have set aside a further £32.6 billion to deal with the total compensation bill.
      How Did PPI Mis-Selling Become Common Knowledge?

      In 1998, Which? Magazine highlighted the dangers of the financial product known as Payment Protection Insurance and spoke about how PPI came to be. The main concerns that were published included the price of the product and the fact that many people who were in possession of one weren’t eligible to claim on the product they’d been sold.

      Despite this being made public, PPI was still being peddled to unsuspecting customers along with financial products all across the country, and Barclays Bank were one of the biggest offenders. It took a further seven years for the relevant authorities to deal with what had been happening in front of them from the very beginning. The Financial Services Authority compiled a report on PPI and the poor practices that were being used to sell them to customers.

      In 2006, small companies were beginning to feel the pain of large fines for their role in the PPI scandal. The big banks such as Barclays, who thought themselves an untouchable force, were beginning to feel the authorities breathing down their necks and one bank after another started to receive unwanted attention in the form of fines reaching into the millions.

      Research conducted in 2008 exposed the startling truth that over 2 million people in the UK had been paying for policies that they were unable to claim on because they’d been sold a shoddy policy that was immediately defunct because of their circumstances.

      There were numerous circumstances that meant that some people were ineligible for PPI, and these were:

      How Was Barclays Affected by PPI?

      Barclays reported a 21% fall in half-year profits in 2016, this disappointing result was blamed because of PPI costs.

      The bank was forced to set aside a further £600m provision for covering all the associated costs that came with PPI. This is to add to the £5.9 billion that the bank has already set aside, including the cost of administration. This total is expected to raise even further, as money set for future claims currently stands at over £2 billion.

      What’s the Problem?

      The Financial Ombudsman Service revealed that banks all over the high street have been unfairly rejecting thousands of PPI complaints, which has forced customers to send their complaints to the FOS, the independent investigative body that assesses cases of banks rejecting PPI complaints and then decides whether the customer’s complaints are valid or not.

      Barclays have been complicit in this, and have had a massive 74% of claims upheld by the Ombudsman, this shows that the banks are dragging their feet on a lot of claims, attempting to buy time and it shows that even despite massive fines and reprimands, banks are still refusing to deal with customers fairly.

      This indicates there could still be thousands of complaints that have been unfairly rejected, and Barclays have set aside further provisions to deal with this eventuality.

      Millions of People Were Mis-Sold by Barclays?

      Some cases of mis-sold PPI date right back to the 1970’s, and from then until the mid-2000s PPI policies were mis-sold in a variety of different ways, and in order for any potential mis-sold customers to claim what is legally owed to them, they must understand what being mis-sold actually means.

      The banks figured out quite quickly that PPI was an easy source of profit, and big profit at that. They told their salesmen that in return for selling policies, they’d be entitled to big commissions, and this was in spite of the fact that they were fully aware that PPI wasn’t for everyone and they were peddling a product that was very expensive

      Opting In: In many situations, customers purchased a PPI policy without even knowing they were doing so, and the high monthly premiums were hidden away within the monthly payments.

      The Tough Sell: Salesmen would often use hard sales techniques to sell policies. This meant that when the customer told them they didn’t want or need it, the salesmen would then throw ‘what ifs’ at the customer until they were intimidated into buying the policy.

      Ineligible Customers: Some staff were told, that they had free reign to use whatever techniques they wanted to sell policies. This kind of encouragement led to millions of situations where people were intimidated and duped into buying policies that weren’t right for them.

      PPI Was Optional: Barclays either lied or failed to mention that PPI was optional. This technique meant that salesmen could make more PPI sales.

      PPI Map Statistics
      UK mis-sold PPI scandal statistics £10 Billion

      In payouts alone in the UK.

      By 2008, 20 million PPI policies existed in the UK that’s nearly 1 in 3 of the 2008 UK population

      Barclays PPI Percentages
      What Happened When PPI Came to Prominence?

      During the late 90s and early to mid-2000s PPI was completely unregulated and Barclays was earning millions upon millions. Once the authorities began to start properly assessing PPI, they forced the banks to pay back what they unlawfully took from customers.

      Barclays contacted customers they believed were mis-sold and let them know that they could be due a refund.

      People were then able to contact Barclays and provide them with the details of the circumstances surrounding the sale – this included any paperwork and account numbers.

      Barclays created a special section on their website to allow customers to find all the information they needed to process their refund claim. This meant that the bank had all the relevant information they needed to process the claim without going back and forth.

      Do You Need to Make a Claim Against Barclays?

      In order to claim what is rightfully yours, you must be prepared to hand over as much evidence as physically possible about the policy in question. Barclays will need the following information to process any claim quickly and efficiently:

      After you send over the claim and in the eventuality you receive correspondence rejecting the claim, then don’t give up. If you feel strongly that you were mis-sold and have evidence to prove it, then you have every right to contact the FOS and fight the decision.

      But let’s be honest: depending on when the policy was taken out, you may not have all the paper work available, but don’t fret, there’s another option available to you.

      Time Left PPI What's Next?

      It’s quite easy to procrastinate and put things off until tomorrow but more often than not, tomorrow never comes.

      So, if you believe that you have been mis-sold PPI, it’s important to act now before it’s too late.

      Free PPI Check

      Our standing in the industry has meant that we’ve been able to broker a deal with the major banks and lenders, which means that we’re not required to submit anything more than a name, date of birth and an address; doing away with the complicated account numbers and reams of paperwork. Once we’ve sent this to Barclays they can then start to process the information and correlate it with their database.

      This agreement is unique in that it is available to only the best companies in the industry.

      Start your claim today CLICK HERE!

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