Ppi Recalculation.

[alb0679]

Hello all.
My wife and I received a PPI settlement a couple of years ago. We heard nothing more until recently, when we received a letter to say that their review process had highlighted we were initially underpaid. We have since received a further refund amount from them. After the initial refund we did not dispute the amount or ask for a review, they appear to have reviewed it themselves. Are all banks obliged to carry out reviews of PPI repayments?

[EDDIE51]

I think so. I was offered a refund of £1450 which I thought was fine and accepted. When the cheque actually arrived it was for £4050 !
The letter with it said they had recalculated what was due.

[granny grump]

Yes banks were instructed to recalculate payments that they had made - We got an extra £400. It was part of previous job to investigate these claims

[alb0679]

OK, thanks, appreciate your replies.