Banks wrongly reject 1,500 PPI compensation claims each day

 
Tim Wallace
Follow Tim
CUSTOMER complaints about mis-sold payment protection insurance picked up again in the last three months, the Financial Ombudsman Service (FOS) revealed yesterday.

Overall the financial referee received 159,197 new complaints, up 179 per cent on the year.

And 83 per cent of those were PPI complaints, up from 56 per cent a year ago.

That means it is getting 2000 complaints about banks mis-selling the products each day – and 78 per cent of those complaints are upheld.

Customers can go to the FOS when they feel their application for compensation has been wrongly rejected by their bank.

The job of resolving many thousands of complaints can only be more difficult when there is an atmosphere of universal suspicion and distrust,” warned FOS chief Natalie Ceeney.

“It will undoubtedly affect our ability to handle complaints as quickly and smoothly as we would like.”