Payment Protection Insurance information
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Barclays announced on 9 May 2011 that it would not appeal the outcome of the judicial review on the matter of handling payment protection insurance (PPI) complaints. We are working to resolve PPI complaints for our customers as quickly as possible. We know this is important to you and that is why we are focused on resolving these complaints.
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Background
In October 2010, the British Bankers’ Association (BBA) filed for a judicial review against the Financial Services Authority (FSA) and Financial Ombudsman Service (FOS) on the matter of handling Payment Protection Insurance (PPI) complaints.
The principle of the judicial review was about the ability of the FSA and FOS to apply new standards to old sales. The BBA believed the FSA was effectively creating a precedent that permitted it to apply new rules to previous sales – even where those sales were regulated by other FSA rules.
On 20 April 2011, the outcome of the judicial review was announced and the BBA’s judicial review challenge has been dismissed in its entirety. The BBA has announced that it does not intend to appeal the ruling.
Complaints
If you wish to make a complaint
If you wish to make a complaint about your PPI you can do so in several ways. There is no need to use a claims management company to complain - it is easiest to make complaints directly to Barclays. Claims management companies usually take a fee or percentage of any compensation you are paid and your complaint is not dealt with differently or any more quickly.
You can call us 2 on 0845 755 5555 or write to us at:
Barclays PPI Dept
Leicester
LE87 2BB
We will ask you to complete a PPI consumer questionnaire form (below) from the Financial Ombudsman Service. Sending us this form will ensure we have the information needed to process your complaint efficiently and as quickly as possible.
If you have already made a complaint
If you have already made a complaint about PPI you do not need to do anything. We will be writing to you with an update as quickly as possible. There is no need to resubmit your complaint or make a new one. We are now working hard to resolve these complaints as soon as we can. Although we are unable to give specific timescales at present, we will provide an update as soon we have more information.
Frequently asked questions
| Q. What was the outcome of the judicial review? |
| In April the High Court announced that it had dismissed the British Bankers Association (BBA) judicial review challenge of Payment Protection Insurance (PPI) complaint handling. The Court dismissed the judicial review challenge in its entirety. |
| Q. What has Barclays decided to do? Will it appeal? |
| We have accepted the judgment following the High Court’s decision and we will work closely with the Financial Ombudsman Service and the Financial Services Authority to make sure we deal with all our PPI complaints appropriately. Barclays announced on 9 May 2011 that it would not appeal. |
| Q. Why has Barclays taken so long to respond to the outcome of the judicial review? |
| Following the High Court’s announcement we reviewed the judgment thoroughly to understand the details, and consider what this means for Barclays and our customers. |
| Q. Why has Barclays made a provision of £1bn? |
| We have made a provision of £1bn in relation to the anticipated cost of redress in respect of PPI complaints. |
| Q. Will Barclays now process those PPI complaints that are on hold? |
| Yes. We will work closely with the Financial Ombudsman Service and the Financial Services Authority to make sure we deal with all our PPI complaints as soon as possible. |
| Q. When am I likely to get my complaint resolved? |
| We will write to customers with existing complaints to update them as quickly as practicable. There may be a short delay while we work through the details. Although we are unable to give specific timescales at present, we will provide an update as soon we have more information. |
| Q. If I have an existing PPI complaint what do I need to do? |
| Customers with existing PPI complaints do not need to take any action. We will now write to update those customers and work hard to resolve all complaints as soon as practicable. |
| Q. I have been approached by a claims management company. What should I do? |
|
Our customers can complain to us directly and don’t need to use a claims management company (CMC). A CMC will typically charge an up-front fee or take a proportion of any financial redress. We will assess all complaints sent directly to us in exactly the same way that we treat complaints sent in by a CMC – your complaint is not dealt with differently or any more quickly. For independent guidance on how CMCs work visit the
Which? website
. |
| Q. How can customers find out more information? |
|
We’ve set up this dedicated website for customers who would like more information about the PPI judicial review and complaint handling. The site will be updated as more information becomes available. The Financial Ombudsman Service (FOS) also provides an independent source of information. Visit them at www.financial-ombudsman.org.uk . For independent guidance on PPI visit the
Which? website
. |
| Q. I have an existing PPI complaint, how can I get an update? |
| If a customer has already made a complaint about PPI we will be writing to them with an update as quickly as practicable. These pages will be updated as more information becomes available. |
| Q. Can I log a new PPI complaint? |
| Yes. If you wish to make a complaint about your PPI you can do so in several ways. There is no need to use a claims management company to complain - it is easiest to make complaints directly to Barclays.You can call us on 0845 755 5555 or write to us at Barclays PPI Dept, Leicester, LE87 2BB. We will ask you to complete a PPI consumer questionnaire from the Financial Ombudsman Service. Sending us this form will ensure we have the information needed to process your complaint efficiently and as quickly as possible. PPI questionnaire form |
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