Mikey25 v HSBC

[citizenB]

Please do continue to update.. when you finally receive the letter and perhaps if they do provide calculations for you.. one of our PPI guys can have a peek for you.

[mikey25]

Please do continue to update.. when you finally receive the letter and perhaps if they do provide calculations for you.. one of our PPI guys can have a peek for you.

 

Thanks. I will do. Hoping it will come today but HSBC don't seem to do anything by the book so I'll be amazed if there are any figures included.

[mikey25]

My letter finally arrived today and they have included some calculations. At first glance they look ok to me but if anyone would like to take a look they are as follows:

 

1) Refund of the premiums paid between 25/4/2003 and 10/1/2006 including average balance calculations where electronic records are missing = £1393.11

2) Interest that was debited to my credit card in respect of these premiums = £660.38

3) Simple interest at 8% = £1358.22

4) Less basic rate of tax = £271.65

 

Total Redress = £3140.06

 

To be honest I'm quite happy with the offer but I am happy to listen to peoples thoughts on this.

[ims21]

We have no way of knowing whether it is right or not.

 

The items they have listed are correct but whether the figures themselves are right is not known.

 

The important thing is that you have done some calculations yourself and their offer appears to agree with the figures you came up with (or thereabouts). Only you can decide whether to accept or not.

[mikey25]

OK thanks. The figure that they have supplied for premiums paid is actually quite a bit more than I had worked out based on the statements that they sent me so either they have found the other statements or their average has been worked out differently to mine. Either way this is at the upper end of what I was expecting so I am going to accept to finally put an end to it. Thanks for all your help.