A new report by Which? has revealed that UK banks could owe millions more in PPI refunds for mis-sold payment protection insurance (PPI), as they have failed to investigate all claims.

The consumer group carried out an investigation, which found that banks are dodging potential PPI refunds by failing to check all of the policies sold to a claimant.

Which? noted all the big high street banks, including RBS Group, Barclays, HSBC, Lloyds Banking Group, Santander and Nationwide, said that they limit their investigations to the policy reference.

All policies are checked only when a customer makes a general complaint or specifically requests the bank to verify all of them.


Which? said: “With the deadline set for 29 August 2019, you might hope that firms are doing everything they can to repay customers who were mis-sold PPI.

“But, following a report in May that the complaints process can discourage legitimate claims, we can reveal that firms are also doing the bare minimum to compensate victims – by failing to investigate all possible policies sold unless they are specifically asked to do so.”

The firm is urging consumers to resubmit their claims or make a general complaint to claim their compensation before the deadline, which was set by the Financial Conduct Authority (FCA).


 “It is important that consumers are able to check easily whether or not they have had PPI and then decide whether they want to complain. A key objective of our advertising campaign is to make sure that consumers understand that they may have had PPI on a broad range of products.

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