PPI News - GB’s Top 20 payments for August 2019 | Gladstone Brookes

PPI News – GB’s Top 20 payments for August 2019

GB’s Top 20 payments for August 2019

In the run-up to the deadline we continued to recover hundreds of thousands of pounds for our clients with the Top 20 payments totalling a massive £703,360.22.

Top payout was £77,597.19± to a Kent man with successful claims against HFC, Marks & Spencer and Halifax.

An even dozen were paid out on single claims, the highest being a Scottish man who received £59,048.65± after Royal Bank Of Scotland (RBS) admitted mis-selling the PPI on his credit card.

Total payout

The overall payout for PPI has now topped £36 billion – a total continuing to rise at a rate of £⅓ billion a month – and expected to soar even higher after the banks were swamped by last minute calls to beat the August 29th claims deadline.

Websites crashed under a deluge of attempts to register before midnight on the last day and consumers took to social media to complain about having to wait hours to try to register their claim by phone.

Millions of claims

It’s not known how many millions managed to beat the deadline, but with claims taking weeks to get a final decision under normal circumstances it’s anticipated it will be well into the New Year before the final payout is known.

Research from think tank New City Agenda has calculated it could be at least £48.5± billion, but other sources have claimed it could top £50 billion.

The Top 20

GB’s top 20 payouts for August were:

± prior to fees and taxes

RBS – ‘We need to add more money to pay for PPI’

Royal Bank of Scotland (RBS) is to add between £600 million and £900 million to its PPI pot because it fears it won’t have enough to pay out all of the successful claims against it.

RBS – ‘We need to add more money to pay for PPI’

Royal Bank of Scotland (RBS) is to add between £600 million and £900 million to its PPI pot because it fears it won’t have enough to pay out all of the successful claims against it.

Lloyds and Barclays to add £3.4 billion extra for PPI?

Lloyds Banking Group (LBG) and Barclays have both announced they may have to add over £1.5 billion extra to their PPI provision to make sure they can pay out on a massive spike of complaints leading up to the claims deadline.

Lloyds and Barclays to add £3.4 billion extra for PPI?

Lloyds Banking Group (LBG) and Barclays have both announced they may have to add over £1.5 billion extra to their PPI provision to make sure they can pay out on a massive spike of complaints leading up to the claims deadline.

PPI News – FCA fears another PPI-type scandal

Britain’s financial regulator is worried that a new recession could provoke another PPI-type scandal with the banks feeling pressure on their main sources of income.

News by month:

News by Category:


Menu