Hsbc Insurance Premium On Mastercard Statement

[Bill-K]

Re: Hsbc Insurance Premium On Mastercard Statement

LOL - we each have our talents, M !!!

You can post them here, by adding them to a post as attachments - BUT - make sure you have blanked out personal details & ref. no's. etc.

If you're not sure how to do this, you can email it to Simiantics@gmail.com, where either Turboman or I can do it for you.

[mbtstars]

Re: Hsbc Insurance Premium On Mastercard Statement

Good morning Bill,
My network went down last night, so I have just sent the letter to e mail address you provided. when I finally worked how to attach file to thread, it came back with 'UPLOAD ERROR' I'm hoping it isnt going to be one of those days!!..lol

M

[Turboman]

Re: Hsbc Insurance Premium On Mastercard Statement

Yep--its ok--we got it (me & Bill)--very comprehensive and useful to us btw

I'll let Bill deal directly with you --as you been conversing with him as opposed to me (we tend to work individually with different people-but we can both look at what the other is doing behind the scenes to support each other)

[mbtstars]

Re: Hsbc Insurance Premium On Mastercard Statement

Great, thank you

M

[Bill-K]

Re: Hsbc Insurance Premium On Mastercard Statement

Hi M - Sorry - only just had a chance to look at the offer letter. If you hadn't already cancelled the PPI, then they would automatically assume that you wanted to cancel it if it had been mis-sold. Hence that confirmation of PPI policy cancellation.

As usual, they don't show how they calculated the offer, just the totals of each element. They do point out that they don't keep data for more than 6 years, in which case, we don't know whether that offer is based ONLY on the past 6 years PPI - or if it includes an estimated amount for the period prior to this as well.

If you have your own records, then we should use these. If not, then we should get the data via a DSAR. This should then be put into the spreadsheet I posted earlier, and compared with their offer.

Until such time as you can do this, you cannot make an informed choice as to whether to accept the offer or not. As I said earlier, as the DSAR was returned to you, then they have caused a delay in your ability to decide on acceptance, and I think you should write to them explaining this, and asking for more time to evaluate the offer.

I think it would also be worth asking them for a more comprehensive explanation of how their offer was calculated - particularly how the earlier PPI was estimated, or if it was simply ignored. You may want to quote these guidelines from the FSA Handbook on PPI Redress contained within PS 10/12:

DISP APP 3.7.2 Where the firm concludes that the complainant would not have bought the payment protection contract he bought, and the firm is not using the alternative approach to redress (set out in DISP App 3.7.7 E to 3.7.15 E) or other appropriate redress (see DISP App 3.8), the firm should, as far as practicable, put the complainant in the position he would have been if he had not bought any payment protection contract.

DISP APP 3.9.4 The firm should make any offer of redress to the complainant in a fair and balanced way. In particular, the firm should explain clearly to the complainant the basis for the redress offered including how any compensation is calculated and, where relevant, the rescheduling of the loan, and the consequences of accepting the offer of redress.

[mbtstars]

Re: Hsbc Insurance Premium On Mastercard Statement

hi Bill, thank you so much for your reply. I am now going to write a letter to them including the information you have given me. Keep you posted, thanks again, dont know what i would do without your help & guidance.
M

[mbtstars]

Re: Hsbc Insurance Premium On Mastercard Statement

Hi bill, This is the letter I have drafted to HSBC in reply to the letter of redress, what do you think???? lol, is it too demanding????

:tinysmile_hmm_t2:
Thanks M

Thank you for your letter of 19th April 2012.

At present I feel I am unable to make an informed choice as whether or not to accept your offer of redress for the following reasons. I also ask that time is given for me to evaluate the offer.

DSAR (5th March) I requested was returned to me by Kamila Mikulska of Data Privacy Compliance, this caused an unnecessary delay.
Therefore, I enclose the fee of £10.00 and request this for a second time and assume it will be processed as a matter of urgency as the period of 40 days I’m sure you’ll agree, passed some time ago.

I would also appreciate a more comprehensive explanation of how your offer has been calculated, as you have just provided me with the totals of each element.

You have pointed out that HSBC only retain information for the last six years, therefore have your calculations been made using solely the period 21 February 2005 -22 March 2012. If so, then has the period prior to this containing PPI been estimated, or has it been simply ignored.

With regards to ‘HSBC only retain information for the last six years’
It appears that this relates to the date of the last transaction of closed accounts. Therefore as my account(s) are still open and active, all data is surely must be available for my use.

I would also like to quote these guidelines from the FSA Handbook on PPI Redress contained within PS 10/12:

DISP APP 3.7.2 Where the firm concludes that the complainant would not have bought the payment protection contract he bought, and the firm is not using the alternative approach to redress (set out in DISP App 3.7.7 E to 3.7.15 E) or other appropriate redress (see DISP App 3.8), the firm should, as far as practicable, put the complainant in the position he would have been if he had not bought any payment protection contract.

DISP APP 3.9.4 The firm should make any offer of redress to the complainant in a fair and balanced way. In particular, the firm should explain clearly to the complainant the basis for the redress offered including how any compensation is calculated and, where relevant, the rescheduling of the loan, and the consequences of accepting the offer of redress.

I look forward to your reply in the very near future.

[mbtstars]

Re: Hsbc Insurance Premium On Mastercard Statement

Hi Bill,

Ignore that previous letter, We telephoned Hsbc mastercard, and innocently asked them the date on which the card account was opened...August 1990...I dont know if you agree, but I feel that the offer that has been made and the lack of cooperation given in regards to DSAR has sparked some frustration this end. therefore i made a few amendments to the letter...your thoughts???

Thanks M

:tinysmile_hmm_t2:

Thank you for your letter of 19th April 2012.

At present I feel I am unable to make an informed choice as whether or not to accept your offer of redress for the following reasons. I also ask that time is given for me to evaluate the offer.

DSAR (5th March) I requested was returned to me by Kamila Mikulska of Data Privacy Compliance, this caused an unnecessary delay.
Therefore, I enclose the fee of £10.00 and request this for a second time and assume it will be processed as a matter of urgency as the period of 40 days I’m sure you’ll agree, passed some time ago.

I would also appreciate a more comprehensive explanation of how your offer has been calculated, as you have just provided me with the totals of each element.

You have pointed out that HSBC only retain information for the last six years, therefore have your calculations been made using solely the period 21 February 2005 -22 March 2012.
If so, then has the period 17 August 1990 (Mastercard Account opened) to 21 February 2005 containing PPI premiums paid simply been ignored. If this is the case, then I think the offer of redress figure of £4920.85 is somewhat undercompensating.

With regards to ‘HSBC only retain information for the last six years’
It appears that this relates to the date of the last transaction of closed accounts. Therefore as my account(s) are still open and active, I’ve been advised that all data must be available for my use when requested.


I would also like to quote these guidelines from the FSA Handbook on PPI Redress contained within PS 10/12:

DISP APP 3.7.2 Where the firm concludes that the complainant would not have bought the payment protection contract he bought, and the firm is not using the alternative approach to redress (set out in DISP App 3.7.7 E to 3.7.15 E) or other appropriate redress (see DISP App 3.8), the firm should, as far as practicable, put the complainant in the position he would have been if he had not bought any payment protection contract.

DISP APP 3.9.4 The firm should make any offer of redress to the complainant in a fair and balanced way. In particular, the firm should explain clearly to the complainant the basis for the redress offered including how any compensation is calculated and, where relevant, the rescheduling of the loan, and the consequences of accepting the offer of redress.
I look forward to your reply in the very near future.

Your sincerely

[Bill-K]

Re: Hsbc Insurance Premium On Mastercard Statement

Soz, M. Been a bit busy with other stuff. Letter looks good to me

Hi Bill,

Ignore that previous letter, We telephoned Hsbc mastercard, and innocently asked them the date on which the card account was opened...August 1990...I dont know if you agree, but I feel that the offer that has been made and the lack of cooperation given in regards to DSAR has sparked some frustration this end. therefore i made a few amendments to the letter...your thoughts???

Thanks M

:tinysmile_hmm_t2:

Thank you for your letter of 19th April 2012.

At present I feel I am unable to make an informed choice as whether or not to accept your offer of redress for the following reasons. I also ask that time is given for me to evaluate the offer.

DSAR (5th March) I requested was returned to me by Kamila Mikulska of Data Privacy Compliance, this caused an unnecessary delay. Please be aware that the return of the fee does NOT excuse you from complying with a lawfully-served DSAR, and you are thus now in breach of the DPA. Nevertheless, I enclose the fee of £10.00 and request this for a second time and assume it will be processed as a matter of urgency as the period of 40 days I’m sure you’ll agree, passed some time ago.


I would also appreciate a more comprehensive explanation of how your offer has been calculated, as you have just provided me with the totals of each element. This is not sufficient to make an informed decision as to whether the offer of redress is acceptable, as I have no idea how you arrived at these totals.

You have pointed out that HSBC only retain information for the last six years, therefore have your calculations been made using solely the period 21 February 2005 -22 March 2012.
If so, then has the period 17 August 1990 (Mastercard Account opened) to 21 February 2005 containing PPI premiums paid simply been ignored. If this is the case, then I think the offer of redress figure of £4920.85 is somewhat undercompensating.

With regards to ‘HSBC only retain information for the last six years’
It appears that this relates to the date of the last transaction of closed accounts. Therefore as my account(s) are still open and active, I’ve been advised that all data must be available for my use when requested.
I'm not sure about this bit. They must keep certain essential data, such as original agreements - but other account data such as statements MAY be destroyed. The real problem is whether they GENUINELY do not have the data, or they are just being lazy or reticent with it. We only have their word for it, so our best course is to give them one last opportunity to 'find' it, or to clearly confirm that they don't have it. Then, if they try and argue with estimated figures later on, they can't refer to this data. How about:
If you genuinely do not have any data older than 6 years, then I must insist that you clearly and unambiguously confirm this, as I may need to base my claim on estimated figures - which will of course not be as accurate as original data.
I would also like to quote these guidelines from the FSA Handbook on PPI Redress contained within PS 10/12:

DISP APP 3.7.2 Where the firm concludes that the complainant would not have bought the payment protection contract he bought, and the firm is not using the alternative approach to redress (set out in DISP App 3.7.7 E to 3.7.15 E) or other appropriate redress (see DISP App 3.8), the firm should, as far as practicable, put the complainant in the position he would have been if he had not bought any payment protection contract.

DISP APP 3.9.4 The firm should make any offer of redress to the complainant in a fair and balanced way. In particular, the firm should explain clearly to the complainant the basis for the redress offered including how any compensation is calculated and, where relevant, the rescheduling of the loan, and the consequences of accepting the offer of redress.
I look forward to your reply in the very near future.

Your sincerely

[mbtstars]

Re: Hsbc Insurance Premium On Mastercard Statement

Hi Bill, how are you keeping? well I hope.

Here's an update to this horrible, frustrating claim.....

I telephoned Hsbc on Wednesday for an update as we hadn't had anything from them in reply to our last letter. I had to call complaints department to complain that I couldnt get anybody on the number they had supplied haha...anyway's the lady told us NOTHING..only that she would put a request on the system for someone to update us, if we dont hear anything then call back next thursday. I have just tried to attach the documents but seem to be unable to, therefore I have sent you them via email...ARGH!!! why is everything proving to be difficult today? lol x

[Turboman]

Re: Hsbc Insurance Premium On Mastercard Statement

Hi Mbtstars

We got it--as Bill is dealing with your case-I'll leave it to him

But I think the reason why you can't upload the file is cos its a ".docx" file from 2010 Microsoft Office but the allowed types at the moment only allow ".doc" files from Mocrosoft 97-ish

You could load the .docx file and resave as a .doc file--(but we got it anyway)--EDIT--think this is because most people got 97 but not 2010 version yet-so its like a commomon denominator to use .doc or even in excel .xls

Turbs

[mbtstars]

Re: Hsbc Insurance Premium On Mastercard Statement

Hiya, Thanks for replying, i'll have to try and get my head round that for next time. Have a nice bank holiday

M

[Bill-K]

Re: Hsbc Insurance Premium On Mastercard Statement

Just trying to upload the letter here. As Turbo says, it had the file extension " .docx " - which is not currently recognised by the forum. I have changed this to " .doc " - so I hope that will work...Reply from Hsbc May 2012.doc

No, it doesn't. Trying this:-

[Bill-K]

Re: Hsbc Insurance Premium On Mastercard Statement

Hi M. I hope the letter is visible to others - I can read it OK.

From what I can tell, they appear to have sent you the info you needed from the DSAR - ie., copies of your statements going back over the last 6 years, showing PPI payments, account interest, and account balances. With that, you should be able to use the spreadsheet I posted earlier to calculate the reclaim for that period. So, I doubt if you need to re-send the DSAR.

The CCA s.77-79 request is for a true copy of the original agreement you signed. As long as the card account is still 'live,' then they must keep this original agreement, as they will be required to produce it if they need to legally enforce payment. Under the CCA, you are entitled to a copy of this agreement and until such time as they provide you with this, you are entitled to place the account formally in dispute because the existence of an enforceable agreement is in question. One reason why we need this is to establish when the card account was opened, so that we can make a fair estimate of the PPI for the period which there is no data for.

I think what you will now have to do is remind them that you are still waiting for the clear breakdown of how the offer was calculated, including a clear statement of how they have estimated any amounts for which they no longer have records. Until such time as they supply this, they have not made the offer in line with the FSA guidelines.

[mbtstars]

Re: Hsbc Insurance Premium On Mastercard Statement

Hiya Bill, Thanks for reply. I managed to attach the details they sent me of insurance, the policy started on activation of credit card which opened on 17 August 1990. I cant help but feel that HSBC are dragging this out just a little.
It appears our request for a comprehensive breakdown of how offer was calculated' has been passed over to the 'Regulated Sales Complaints Team', I believe that this is whom the PPI complaint went to in the first place...lol deary me, what a pass about. I am now going to get on with letter chasing them up with a copy of my original complaint, dated March!! If I can manage too attach it, I again, would be grateful of your opinion.

Many thank, have a fab weekend
M