Terms and Conditions (PPI & PBA)

PPI Terms and Conditions

What WILL My PPI Refund do for you?

PPI Check

We will carry out a PPI check. Due to the new imposed FCA deadline for submitting PPI claims, once we identify that you have PPI we will submit your complaint along with any supporting evidence to your lender(s) automatically.
We will deal with all areas of your claim, including all correspondence and negotiations where required with relevant companies and/or institutions. It may be necessary for us to obtain further signed documentation to make this possible.
By completing and returning the Letter(s) of Authority you agree to appoint My PPI Refund to provide the PPI check and claim service. You acknowledge that you could undertake a PPI check and claim directly to the lender yourself but you have chosen to use My PPI Refund.

Claim Service

These are the terms on which My PPI Refund agrees to provide the claim services and you agree both to be bound by them and to acknowledge them.

You acknowledge that you are aware that you could complain directly to your creditor(s) at no cost and, if necessary, pursue your complaint with the Financial Ombudsman service (FOS), Financial Services Compensation Scheme (FSCS) or via a County Court.

By signing a letter of authority you will be bound by this agreement.

Where we identify PPI, we will prepare a detailed claim and present it to your creditor(s). Thereafter, we will correspond and negotiate with your creditor(s) to endeavor to obtain compensation for you, consisting of a reimbursement of any PPI premiums paid on those agreements plus statutory interest.

However, in establishing the existence of PPI, we do not warrant that your creditor(s) have necessarily mis-sold any PPI to you.

Once we have identified that you have PPI and proceed with your claim, you agree to be bound by both the Letter of Engagement and the Terms and Conditions giving My PPI Refund authority to claim on your behalf if needed, we will pursue your claim with the FOS, FSCS (or other regulatory body) at no additional cost to you.

What WON’T My PPI Refund do for you?

Guarantee to win a claim we accept and pursue.
Give/offer you financial and/or legal advice.
Pursue a claim that in our opinion has no realistic chance of success, and we reserve the right to cancel this agreement if we form this opinion.
Tell you to accept an offer we consider insufficient or to reject an offer we consider adequate. We reserve the right to cancel this agreement if you decide to accept an offer of compensation we consider insufficient or to reject an offer we deem to be adequate.
Not to mislead us or ask us to act in an improper or unreasonable way. Take your case to court (although we will inform you if we think you should).

What do we require you to do?

Provide all relevant information we may request without delay, to enable us to pursue your claim efficiently.
Provide us with clear instructions.
Fully cooperate with us.
Not to mislead us or ask us to act in an improper or unreasonable way.
Read all claims documentation carefully and retain them.
To provide us with, and ensure that we have, exclusive authority for the duration of the contract (a) to pursue your claim, (b) to enter into correspondence and negotiations on your behalf. (c) to receive, process and provide valid receipts for any remuneration made.
To refer to us immediately, any direct or indirect communication with yourself from the responsible party and/or lender or any other 3rd party such as the FOS, FSCS.
If payment is made directly into your bank account, you must pay our invoice within 14 days of receipt of cleared funds in your account.
Once you sign the Letter of Authority, any further information sent to you must be returned to us, where applicable, within 14 days of receipt to ensure we have all of the relevant information to pursue you claim. This includes but is not limited to; new Letters of Authority, Questionnaires, Further Information letters and requests to update details with the bank.
You must inform us of any decision the bank makes within 14 days of your knowledge. If you withdraw our authority with the bank during the claim, you are still bound by this contract and must disclose any information the bank relay to you regarding your claim unless you have cancelled this agreement as set out below.

Data Protection

The privacy and security of your personal information is very important to us. Any personal information submitted to us will be subject to the provisions of the General Data Protection Regulation 2016/679 (“GDPR”) and any legislation enforced within the UK in order to comply with GDPR, unless required to do so by law or a professional body, we will not disclose any personal data to any other person or organisation without the required consent.

We want to assure you that the claimant information will be properly managed, protected and respected. You can be assured any information you provide us will be used strictly in accordance with the terms laid out in this statement.

Our privacy statement explains how we collect and use your personal information, what choices you have and other important information. You can find our full privacy notice on our website: www.myppirefund.co.uk

Our Fees

Our fee is 20%+ VAT (24%) of the redress which we obtain for you as a result of a successful claim.
We will not charge you if your claim is unsuccessful.
If the financial company pays you the redress, we will send you an invoice for the amount equal to 20% + VAT (24%) of the redress.
We charge 20% + VAT (24%). The current rate of VAT is 20%, with a total of 24% Without exception all invoices must be paid in full within 14 days of receipt of cleared funds. See fee examples in Section 7.
If you go over the 14 day period we reserve the right to charge you additional administration costs charged at £50 + VAT (£60) per hour, up to a maximum fee of £250 + VAT (£300) per invoice.
Once we have started your claim and if you receive an offer you will be liable to pay our fees.
Any payment received to you due to our complaint process e.g PPI, commission payments will also be subject to My PPI Refund’s full fees at 20% + VAT (24%).

How will My PPI Refund collect our fees?

You are responsible for the payment of our fees within 14 days of receipt of cleared funds in your account. Your award could come in several different ways.

Fee Example 1

Settlement amount: £2,000 (payable in cash). Amount of our fee at 20% (net of VAT): £400. Amount of VAT payable on our fee (assuming prevailing rate of 20%): £80. Total amount payable by client including VAT: £480. Amount of redress paid in cash to client after total amount payable: £1,520.

Fee Example 2

Settlement amount: £2,000 (£1,000 payable in cash and £1,000 account balance or arrears reductions). Amount of our fee at 20% (net of VAT): £400. Amount of VAT payable on our fee (assuming prevailing rate of 20%): £80. Total amount payable by client including VAT: £480. Amount of redress paid in cash to client after total amount payable: £520.

Fee Example 3

Settlement amount: £2,000 (£0 payable in cash and £2,000 account balance or arrears reduction). Amount of our fee at 20% (net of VAT): £400. Amount of VAT payable on our fee (assuming prevailing rate of 20%): £80. Total amount payable by client including VAT: £480 (note this amount would be payable out of the clients existing funds as there has been no cash settlement amount). Amount of redress paid in cash to client after total amount payable: £0.

Debt Recovery

The costs of any County Court action (£30-£108) will be added to the outstanding debt together with statutory interest, pursuant to Section 69 of County Court Act 1984 until the debt is paid in full.

Cancelling this agreement

We can cancel this agreement at any time either by phone, email or in writing. There will be no fee payable if we tell you your claim is unlikely to succeed and you have fulfilled your obligations (as laid out in section 4 of this agreement).

You can cancel this agreement at any time by confirmation in writing, either by letter or email to customercare@myppirefund.co.uk or by telephone on 0113 493 1501. A cancellation form should you wish to use it can be requested by phone or email or downloaded from our website.

If this agreement is cancelled (by either party) when a reasonable offer of payment has been made, which is consistent with the FOS, Financial Conduct Authority or the FSCS guidelines, our charges of 20% + VAT (24%) will remain payable.

You have the right to cancel this contract within 14 days without charge. If after the 14 day cooling off period you cancel this agreement prior to any offer of settlement being made, we reserve the right to invoice you for administration costs charged at £50 + VAT (£60) per hour for each claim we handle for you.

Complaints Procedure

You can make complaint about our service via My PPI Refund's complaints procedure, you can register by emailing: complaints@myppirefund.co.uk, by telephone on 0113 493 1501 or by post to 'The Complaints Department', Unit 20 Bradford Chamber Business Park, New Lane, Laisterdyke, Bradford, BD4 8BX.

You can also find a copy of our complaints procedure at www.myppirefund.co.uk. Once you have received our final response letter and should you remain unhappy you may refer your complaint, within 6 months of the date of our final response, to the Financial Ombudsman Service, by email: complaint.info@financial-ombudsman.org.uk, by phone on 0800 023 4 567 or post to Financial Ombudsman Service, Exchange Tower, Harbour Exchange Square, London E14 9SR. You can find their website at: www.financialombudsman.org.uk.

Further Information

We always act in your best interest when pursuing your claim and achieving for you the best results realistically obtainable.
We must inform you that if your claim is successful, your Payment Protection Insurance will be cancelled.

This agreement and any dispute or claim(s) arising out of or in connection with it or its subject matter or formation (including non-contractual dispute or claims), shall be governed by and construed in accordance with English Law and the parties irrevocably submit to the exclusive jurisdiction of the courts of England and Wales.

PBA Terms and Conditions

What WILL My PPI Refund do for you?

We will review the information you provide regarding your Packaged Bank Account (PBA) and assess the likelihood of your claim being successful. Once we identify that you have a valid claim we will contact you to submit your complaint.
If, after we have reviewed your information, it is our opinion that your claim is unlikely to be successful, we may decline to act for you; we will notify you of this fact by phone/email or in writing.
My PPI Refund will never charge you if we are not successful in making a claim for you.
Deal with all areas of your claim, including all correspondence and negotiations where required with relevant companies and/or institutions. It may be necessary for us to obtain further signed documentation to make this possible.
If needed, and with your consent we will pursue your claim with the Financial Ombudsman Service (FOS), the Financial Services Compensation Scheme (FSCS) or other regulatory body at no additional cost to you.
Always act in your best interests when pursuing your claim and achieving for you the best results realistically obtainable.
If the payment is made directly to you, we will forward an invoice to you for payment within 14 days of receipt of cleared funds
By completing and signing and returning the Letters(s) of Authority you agree to be bound by this agreement and appoint My PPI Refund to pursue a claim or claims against the financial company for mis-selling of PBA.

Claim Service

These are the terms on which My PPI Refund agrees to provide the claim services and you agree both to be bound by them and to acknowledge them once we have received your Instruction to proceed with your claim(s).

You acknowledge that you are aware that you could complain directly to your creditor(s) at no cost and, if necessary, pursue your complaint with the FOS, FSCS or via a County Court.

If our claim for mis-selling of PBA, indicates that it was mis-sold to you, we will contact you to discuss the circumstances surrounding the sale of the PBA

We will not process your claim(s) until we receive your consent. Consent is the point were we received your signed Letter of Engagement (LOE).

Upon doing so you will be bound by this agreement.

Where we believe that PBA may have been mis-sold to you, we will prepare a detailed claim and present it to your creditor(s). Thereafter, we will correspond and negotiate with your creditor(s) to endeavour to obtain compensation for you, consisting of a reimbursement of any PBA premiums paid on those agreements, plus statutory interest.

However, in establishing the existence of a mis-sold PBA, we do not warrant that your creditor(s) have necessarily mis-sold any PBA to you.

What WON’T My PPI Refund do for you?

Guarantee to win a claim we accept and pursue.
Give/offer you financial and/or legal advice.
Pursue a claim that in our opinion has no realistic chance of success, and we reserve the right to cancel this agreement if we form this opinion.
Tell you to accept an offer we consider insufficient or to reject an offer we consider adequate. We reserve the right to cancel this agreement if you decide to accept an offer of compensation we consider insufficient or to reject an offer we deem to be adequate.
Accept an offer of compensation on your behalf without your agreement.
Take your case to court (although we will inform you if we think you should).

What do we require you to do?

Provide all relevant information we may request without delay, to enable us to pursue your claim efficiently.
Provide us with clear instructions.
Fully cooperate with us.
Not to mislead us or ask us to act in an improper or unreasonable way.
Read all claims documentation carefully and retain them.
To provide us with, and ensure that we have, exclusive authority for the duration of the contract (a) to pursue your claim, (b) to enter into correspondence and negotiations on your behalf. (c) to receive, process and provide valid receipt for any remuneration made.
To refer to us immediately, any direct or indirect communication with yourself from the responsible party and/or lender or any other 3rd party such as the FOS, FSCS.
If payment is made directly into your bank account, you must pay our invoice within 14 days of receipt of cleared funds in your account.
Once you sign the Letter of Authority, any further information sent to you must be returned to us, where applicable, within 14 days of receipt to ensure we have all of the relevant information to pursue you claim. This includes but is not limited to; new Letters of Authority, Questionnaires, Further Information letters and requests to update details with the bank.
You must inform us of any decision the bank makes within 14 days of your knowledge. If you withdraw our authority with the bank during the claim, you are still bound by this contract and must disclose any information the bank relay to you regarding your claim unless you have cancelled this agreement as set out below.

Data Protection

Our Fees

Our fee is 39% plus VAT (46.8%) of the redress which we obtain for you as a result of a successful claim.
We will not charge you if your claim is unsuccessful.
If the financial company pay you the redress, we will send you an invoice for the amount equal to 39% + VAT (46.8%) of the redress.
We charge 39% + VAT(46.8%). The current rate of VAT is 20%, therefore total 42%. Without exception all invoices must be paid in full within 14 days of receipt of cleared funds.
If you go over the 14 day period we reserve the right to charge you additional administration costs charged at £50 + VAT (£60) per hour, up to a maximum fee of £250 + VAT (£300) per invoice.
Once we have started your claim and if you receive an offer you will be liable to pay our fees.

How will My PPI Refund collect our fees?

You are responsible for the payment of our fees within 14 days of receipt of cleared funds. Your award could come in several different ways.

Example A:

All compensation in 'cash in hand'

Total Compensation: £1500 of which cash is £1500.

Fee charged at 39%: £585.

VAT at 20%: £117.

Total Fee: £702.

Consumer receives: £798.

No reduction in debt as is already paid off in full.

Example B:

Compensation includes 'reduction in existing debt' and 'cash in hand'.

Total Compensation: £1500 of which cash is £800.

Debt reduction: £700.

Fee charged at 39%: £585.

VAT at 20%: £117.

Total Fee: £702.

Consumer receives: £98.

Reduction of £700 in existing debt.

Please note that all figures quoted are subject to VAT.

Debt Recovery

The costs of any County Court action (£30- £108) will be added to the outstanding debt together with statutory interest, pursuant to Section 69 of County Court Act 1984 until the debt is paid in full.

Cancelling this agreement

You have the right to cancel this contract within 14 days without charge. If, once the claim process has started, after the 14 day cooling off period if you cancel this agreement prior to any offer of settlement being made, we reserve the right to invoice you for administration costs charged at £50+ VAT (£60) per hour for each claim we handle for you.

Complaints Procedure

How can I make a complaint?

You can make a complaint about our service via My PPI Refund’s internal complaints procedure, by email: complaints@myppirefund.co.uk, by telephone on 0113 493 1501 or by post to ‘The Complaints Department’ Unit 20 Bradford Chamber Business Park, New Lane, Laisterdyke, Bradford, BD4 8BX. You can also find a copy of our complaints procedure at www.myppirefund.co.uk. Should you remain unhappy you may refer your complaint, within 6 months of the date of our final response to the Financial Ombudsman service, by email: complaint.info@financial-ombudsman.org.uk, by phone on 0800 023 4 567 or post to Financial Ombudsman Service, Exchange Tower, Harbour Exchange Square, London E14 9SR. You can find their website at: www.financial-ombudsman.org.uk

Further Information

You acknowledge that you could undertake a claim against the mis-selling of PBA yourself but you have chosen to use My PPI Refund.
We must inform you that if your claim is successful, your Package Bank Account will be cancelled. Please speak to the Lender on this matter.