Payment Protection Insurance (PPI)

The Financial Conduct Authority (FCA) confirmed that the deadline for PPI complaints is 29 August 2019. If you make a compliant after this date we may not be able to consider it. This is the deadline even if we’ve invited you to complain previously.

What is PPI?


Payment Protection Insurance (PPI) is designed to cover payments on your borrowings, if you are not able to work due to accident, sickness, unemployment or death.

 

We stopped selling PPI during 2009, but before then we sold it with the following five products:

  • Personal loans
  • Asset finance loans
  • Personal credit cards
  • Mortgage loans
  • Overdrafts

Unsure if you’ve had PPI with First Trust Bank?


The easiest way to ask about PPI is to call our dedicated team on 0345 450 7935* or write to us at the address below or, email us on custcare.ppi@aib.ie giving us the information we set out below. We will respond to all enquiries as quickly as possible.


PPI Team
First Trust Bank
92 Ann Street
Belfast
BT1 3HH


Information we require for enquiries:

 

  • Full name, date of birth, address and contact details, including any names or addresses you used in the past with us.
  • If possible, any account numbers held with us.

 

Checking if you have ever had PPI with us will not affect your relationship with us or your credit score.

Making a possible mis-selling complaint


You can complain directly to us about the possible mis-selling of PPI and avoid paying a Claims Management Company (CMC). CMCs may charge a fee which can be 30% or more of any amount awarded if the complaint is successful.


We investigate complaints sent directly to us in exactly the same way as complaints sent by a CMC, so although you may choose to there is no need to use their services.

 

Phone

Write

Email

 

If you’ve had PPI with us and would like to make a complaint about the possible mis-selling of the policy the easiest way is to call our dedicated team on 0345 450 7935* or write to us at the address below or, email us on custcare.ppi@aib.ie giving us the information we set out below. You can also fill out the Financial Ombudsman Service (FOS) PPI Complaint Form by clicking the link below and posting it to us at the following address or leave the completed questionnaire into your nearest branch.


PPI Team
First Trust Bank
92 Ann Street
Belfast
BT1 3HH

 

Information we require for complaints:

 

Don’t worry if you cannot remember or don’t know any of these details, simply let our team member know or mark this on the form.

 

  • Full name, date of birth, address and contact details, including any names or addresses you used in the past with us.
  • As many details about the PPI policy/policies as possible, such as loan account number and when the account opened.
  • As many details about your employment at the time the loan/loans were opened, such as employer’s details, hours worked per week and any employer benefits which could have been received.

Checking if you have ever had PPI with us will not affect your relationship with us or your credit score. 

What happens next?

 

Step 1

We acknowledge receipt of your complaint by letter within 5 working days – if the complaint has been raised through a complaints management company (CMC) we send the acknowledgment to them.

Step 2

We gather all background information about your complaint; this may include a phone call to you if we need more information – remember, calls from us will appear as unknown or withheld numbers; we will always say we’re ringing from First Trust Bank and will always leave a voicemail (if available) if there is no answer.

Step 3

A mis-selling decision is made based on all evidence available to us. We automatically assess any rejected complaint for undisclosed high level of commission earned by us from the sale of the PPI policy (commonly known as the Plevin issue) if applicable.

Step 4

If we reject your complaint for both

mis-selling and undisclosed high level of commission we will send a letter to you or the CMC within 56 days to tell you about our decision.

 

If we uphold your complaint for either

mis-selling or undisclosed high level of commission, we will pay the refund directly to your First Trust Bank account or, if you no longer bank with us, we’ll send a payments letter to you, or the CMC, along with a cheque; we aim to do this within 28 days from receipt of your signed acceptance.

PPI commission complaints


In August 2017 the FCA introduced new rules that mean customers can complain that the Bank earned a high level of commission from the sale of the PPI but didn’t make this clear when it was sold. This is commonly known as the Plevin issue.


If you’ve already complained about PPI and had a refund of some or all of the money you’ve paid for PPI, your complaint about commission we earned will not be considered. This is because there is no remaining loss that you need to be compensated for, and you don’t need to complain again.


First Trust Bank has written to customers who had a previously rejected complaint that fell within the new FCA rules, however if you feel that you have been affected by this ruling and have not received a letter please call our dedicated team on 0345 450 7935*.

Supporting your needs


We want to make sure everyone can access the products and services we offer. For more information on additional support we offer please visit the Accessibility & Disability section of our website.


If you feel you need some extra support or have any specific needs call us on 0345 450 7935* or Text Relay 18001 0345 6005 925*.

--------------------Start of Accordion Container---------------------------

Click on edit button to enter Accordion Header

Frequently asked questions

  • Should I use a claims management company (CMC) for my complaint?

    Claims management companies may charge a fee which can be 30% or more of any amount awarded if the complaint is successful.


    We investigate complaints sent directly to us in exactly the same way as complaints sent by a CMC, so although you may choose to there is no need to use their services.

  • Will complaining about PPI affect my relationship with First Trust Bank?

    No, your PPI complaint will be assessed separately to any other element of your relationship with us. Enquiring or making a complaint about PPI will not affect your credit score either.

  • How long will I have to wait before I receive a response?

    We always want to be able to resolve any concerns you raise with us. We expect to reply to enquiries as quickly as possible and expect to resolve your complaint within 56 days. If you have not received a Final Response Letter within this time, you have the right to refer your case to the Financial Ombudsman Service.

     

    The FCA has published details of the timescales for the handling of complaints relating to PPI, these are available on the FCA website here.

  • How do I get in touch about an existing complaint?

    The quickest way to get an update is for you to call us on 0345 450 7935*. Lines are open 9am-5pm Monday-Friday except bank holidays. Call charges may vary – refer to your service provider.


    Please have your complaint reference number handy when you contact us.

  • What can I do if I’m dissatisfied with your decision?

    After receiving our decision if you remain dissatisfied you have the right to refer your complaint to:


    Financial Ombudsman Service
    Exchange Tower
    London
    E14 9SR


    You can telephone them on 0300 123 9123 or visit www.financial-ombudsman.org.uk for further information.


    The Financial Ombudsman Service is a free, independent service which helps resolve disputes between financial businesses and their customers, in a fair and impartial way. They deal with complaints about a wide range of financial issues, including PPI.
    You will still be able to complain to the Financial Ombudsman Service after the 29 August 2019 deadline if:

    • we received your complaint before 29th August 2019
    • you complain to the Financial Ombudsman Service within 6 months of receiving your Final Response Letter from us
  • I have a complaint that has been referred to the Financial Ombudsman Service. What will happen now?

    We will work with the Financial Ombudsman Service and provide them with all of the relevant information to allow them to complete their investigation. We will also liaise directly with the Financial Ombudsman Service to deal with complaints as quickly as we can.


    While the complaint is under investigation with the Financial Ombudsman Service, we will be unable to discuss it further with you.

  • Is there tax payable on any refund I might receive?

    From October 2013, tax laws changed and HM Revenue & Customers (HMRC) requirements means we must deduct income tax at the basic rate (currently 20%) from any interest paid. HMRC treat the additional payment which relates to the 8% compensatory interest as taxable income.


    If we deduct more tax than you have to pay you may be able to reclaim some or all of the tax deducted from HMRC, however if you pay tax at rates higher than the basic rate any additional tax due on this should be discussed with your tax office.


    For more information or help on PPI tax advice please call the HMRC tax helpline on 0300 200 3300.

  • Where else can I get more information and help about PPI and PPI complaints?

    The following websites provide information relating to PPI:

     

    Financial Conduct Authority

    Financial Ombudsman Service

    Money Advice Service

    Money Saving Expert

-------------------End of Accordion Container---------------------------

Protecting you from Fraud


Avoid PPI fraud scams – check out information on the FCA website here.

 

*Lines open 9am-5pm Monday-Friday except bank holidays. Call charges may vary – refer to your service provider.