Rules/time limit on double pay out, incorrect payment from bank etc

[topoftherock]

Hi guys, I’m not sure if this is correct but I’ve read somewhere that if a bank pays you twice in error (e.g double PPI payout ) or makes an incorrect payment (e.g an overpayment of PPI In error ), the bank has up to 6 years to get the money back. If it’s more than 6 years, then the bank can not get their money back. Is this correct? Kind regards

[dx100uk]

if you bank with them..there is no time limit as such.

anyone else ......yes statute of limitations applies.

[topoftherock]

Hi dx, thanks for the reply.

 

In regard to “statute of limitations”, it’s a 6-year rule then is it?

 

In my situation,

I’m helping my mother with her PPI complaints/enquires and she had around £10k back from a bank in 2012 (I didn’t help her with this at the time; it was via a simple call she made to the bank).

 

However, she doesn’t  remember what the PPI payout was for exactly  (she thinks it was for loans) and doesn’t remember if she signed anything.

 

However, with the 29th August 2019 deadline approaching, I decided to write to the same bank again and ask if PPI was sold (because she had a credit card with them, loans and she still banks with them I.e current account).

 

They have written back and said they are looking into several items (I wouldn’t be surprised  if they are the same ones as back in 2012).

 

Initially, I was thinking this could be a win-win situation

e.g they may pay more money

(e.g they may have paid comparative redress instead of full redress),

they may find additional PPI which was not located in 2012 e.g on her current account, credit card etc.

 

However, Now, I’m starting to worry that they could say the 2012 payout was a miscalculation and that my mother needs  to pay it back.

 

My mother no longer has the money , so she  couldn’t pay it back.

What do you think?

Am I looking into this too deeply? It’s definitely worrying me.

 

Thanks

[dx100uk]

6 minutes ago, topoftherock said:

Am I looking into this too deeply?

[topoftherock]

Hi dx, yes i May be thinking too deeply, but what if it happened?

 

Although she doesn’t remember signing anything (her memory is not the best) I’m pretty sure there would have been something to sign right?

E.g letter for her to sign confirming  she is happy/she agrees  with the offer?

 

After reading this article, I started to get a little worried:

 

https://www.thisismoney.co.uk/money/news/article-3833245/Banks-snatching-PPI-payouts-ve-paid-25bn-years-mis-selling-say-mistakes.html

[dx100uk]

2yrs old

never heard of it

 

dx

 

[topoftherock]

What is 2 years old? Are you referring to the article? The article was written in October 2016 so it’s almost 3 years old. Please can you help me out with my questions? Thanks

[dx100uk]

so irrelevant

never heard of anyone being forced to give moneyback since the date of that article.

 

 

[topoftherock]

Well, I hope so. Perhaps it’s just a news story to sell more papers/get more online readers.