HSBC CPP Claim Help

[Bohdi007]

Hello

I have been going through the PPI process with HSBC regarding my credit card. I have recieved a letter saying that they will uphold my complaint and have therefore made me an offer.

However the offer they are making is from 2005 - 2012 and not from 2003 from when the PPi or credit card payment protector was added by them. HSBC have confirmed that the policy did start in 2003 however they do not hold statements past 6 years so unfortunately this will be their full and final offer

I have spoken to the FOS who are surprised that HSBC have not made an estimated offer, I have complained to HSBC saying that as a loyal banking customer of 20+ years they have not even attempted to estimate this even though they have confirmed the policy start date of 2003.

Unfortunately I only have one CC statement from this time and the PPI is of the smallest amount something like £12 however I know that the card was a lot higher than this in those 2 years something like £4500k so £0.79 for every £100


has anybody else had this problem and if so is there anything I can do about this. I feel gutted as I feel that this is money that I am owed. Anybodys advice would be very much appreciated.

I know I could appeal through the FOS but have heard that this could mean I could lose the initial payment HSBC has offered and also it could take a considerable amount of time, so would prefer to avoid that route if I can

Regards

B

[EXC]

Re: HSBC CPP Claim Help

Have you had a response from HSBC to your complaint about not including an estimate?

[Bohdi007]

Re: HSBC CPP Claim Help

Hi EXC and thanks for your reply. I spoke to the FOS who said that they are surprised that HSBC have not even attempted at at an estimate when they have confirmed they can see the policy started in 2003. I phoned HSBC on 0800 881155 who advised me that this is because they dont hold any information. I said that I cant believe that they have not ed into this for me as it is money owed.

They said that they would pass the complaint over to the PPI team who will respond within 14 days. Just feels like they are fobbing me off the whole time. The offer letter I did recieve whch doesnt include the full PPI refund beyond 6 years says it has to be returned within 6 weeks from the date of the offer. I am not sure what happens to the offer if I go past this deadline

[MIKE770]

Re: HSBC CPP Claim Help

Quote from HSBC letter to me:-

We are unable to access the information required to support an investigation prior to JULY 2006.

This is because we are only required to keep statements and similar information for a period of 6 years.

This is part of the HSBC policy on information retention which has been guided by the Financial Services Authority Conduct of Business Handbook; section 16.3 !Periodic Retention!.


So there you have it, they say they do not keep records etc after 6 years, so any complaint on a subject beyond that period cannot be proved??? Well Peeps make sure you keep all correspondence from HSBC, as you will need it if the statement above is correct.

[Bohdi007]

Re: HSBC CPP Claim Help

Quote from HSBC letter to me:-

We are unable to access the information required to support an investigation prior to JULY 2006.

This is because we are only required to keep statements and similar information for a period of 6 years.

This is part of the HSBC policy on information retention which has been guided by the Financial Services Authority Conduct of Business Handbook; section 16.3 !Periodic Retention!.


So there you have it, they say they do not keep records etc after 6 years, so any complaint on a subject beyond that period cannot be proved??? Well Peeps make sure you keep all correspondence from HSBC, as you will need it if the statement above is correct.

Hi Mike, Thanks for your response. My quesry however is that they can see on ther systems that the policy was added in 2003 and have confirmed in writing, they do however say they would need statements. I think I only have one statement going back this far. FOS have said that HSBC should be making an estimate if they can see is that the policy started in 2003. They are saying however that they can not and do not have records of statements

[MIKE770]

Re: HSBC CPP Claim Help

FOS are correct in that HSBC needs to make an estimate, which is not hard work, for HSBC muppetts well enough said.

So why not quote FOS to HSBC and see if they come up with anything constructive? If they do not, escalate complaint further thru FOS.

Being a Bank of course that will be hard to calculate, unless in their favour, another limitaion to save on losses on their part, no doubt..

Point out the figure on the statement you have & give them and a figure of the latest statement you have, surely they can make a mean figure out of that. No wonder their Corporate letters contradict themselves between departments.

Others will also comment no doubt??

[EXC]

Re: HSBC CPP Claim Help

I would get back to the FOS and ask them to clarify exactly what their policy is regarding estimating the portion of a claim for which data isn't available and if it's favourable, ask them to put it in writing to you. If they won't, resquest it under the Freedom of Information Act.

Banks have an obligation to account for FOS policy in their complaints handling decisions.

[Bohdi007]

Re: HSBC CPP Claim Help

EXC, Mike Thank you both for your advice I will certainly escalate this to the FOS and request this information, I'll let you know how i get on.

Thanks again

B

[Bohdi007]

Re: HSBC CPP Claim Help

So I have had a letter from HSBC today stating that they will not be taking my complaint any further and that the previous offer is the full and final offer. I have banked with HSBc for 20 years and find this treatment disgusting. Basically they are not willing to make an estimate for the years 2003 - 2005 and that If I am not happy with this then to take my complaint further I should contact the FOS. In my eyes they should be paying back all PPI which was mis sold. Bringing me back to a posistion I should have been if PPI hadnt been added.

Im not sure what to do now, some people have said I should email the CEO chiefexecutivehsbcbank@hsbc.com do you know if this would work, I am really no good with this stuff so dont know what to write in an email , Any advice guys?

[MIKE770]

Re: HSBC CPP Claim Help

So I have had a letter from HSBC today stating that they will not be taking my complaint any further and that the previous offer is the full and final offer. I have banked with HSBc for 20 years and find this treatment disgusting. Basically they are not willing to make an estimate for the years 2003 - 2005 and that If I am not happy with this then to take my complaint further I should contact the FOS. In my eyes they should be paying back all PPI which was mis sold. Bringing me back to a posistion I should have been if PPI hadnt been added.

Im not sure what to do now, some people have said I should email the CEO chiefexecutivehsbcbank@hsbc.com do you know if this would work, I am really no good with this stuff so dont know what to write in an email , Any advice guys?

You are finding out like 112,000+ other people that HSBC are the pits, the C.E.O. IS:- Mr Staurt T GULLIVER , for your info, any complaints keep pestering him, ignore others who may respond to your letters as you end up dizzy with different replies from different offices, they do it on purpose I believe. so concentrate on the CEO each response (Recorded Delivery)

And yes ignore a letter which states I can be contacted on such a such telephone number, it is a joke, you never get that person only a run around for nothing. HSBC seem to train their complaints staff etc to listen or put the phone down have a cup of tea and say nothing.

[Bohdi007]

Re: HSBC CPP Claim Help

Thanks Mike

Should I send an email to that address or write directly. Do you have any letter templates I could use.

Appreciate your help and quick response

Regards

B

[MIKE770]

Re: HSBC CPP Claim Help

Thanks Mike

Should I send an email to that address or write directly. Do you have any letter templates I could use.

Appreciate your help and quick response

Regards

B

Personally I write to him, as all I want is a letter trail or any responses, all so far get passed around, but the trail is there Recorded Delivery, no E.mails as I do not get pestered by his Pestering department.

Just plain letters straight to the point, unless of course there is a relevant subject in the letters area of this site for which you can amend to suit your circumstances, as far as HSBC goes they are the world local Bank (The word LOCAL meaning the opposite of what they try to tell the World).

[EXC]

Re: HSBC CPP Claim Help

Im not sure what to do now, some people have said I should email the CEO chiefexecutivehsbcbank@hsbc.com do you know if this would work, I am really no good with this stuff so dont know what to write in an email , Any advice guys?

Before you contact the CEO I would be tempted to get some clarification from the FOS on HSBC's obligation or otherwise to estimate the portion of your claim for which they don't hold data. I'd also send a Freedom of Information request to the FSA for their policy on the matter too.

That way you will hopefully have something to bargain with.

[MIKE770]

Re: HSBC CPP Claim Help

Before you contact the CEO I would be tempted to get some clarification from the FOS on HSBC's obligation or otherwise to estimate the portion of your claim for which they don't hold data. I'd also send a Freedom of Information request to the FSA for their policy on the matter too.

That way you will hopefully have something to bargain with.

Good point Exc.

[Bohdi007]

Re: HSBC CPP Claim Help

HI Mike / EXC

I sent the letter through to the CEO last week and also sent in an email. I have received a call today from HSBC confirming that they will now make payments back to 2003 by making an estimate based on PPI they have already calculated. I should have an amended offer by the end of the week. So some success at last. Thank you both for all of your assistance and advice.


Best Regards

B