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Banks continue to set aside further money to refund customers
PPI was mis-sold for decades, and the sheer scale of the mis-selling means that thousands of people who were mis-sold PPI are yet to claim back what is rightfully theirs.
PPI was designed to cover repayments in the event of sickness, injury or unemployment. However, PPI was mis-sold because:
Barclays have recently set aside a further £400m (inc Administration costs) to compensate customers who were mis-sold PPI.
If you have or have had a loan, credit card, mortgage or car finance, then you should check whether you had PPI with it. It really is surprising how many people are sure they never had any PPI.
Topics in this post:PPI Personal Finance Money Credit Cards Loans Banks