Payment Protection Insurance (PPI) Information

 

If you think you have been mis-sold Payment Protection Insurance through First Trust Bank, for example with a mortgage, loan, overdraft, asset finance (hire purchase) agreement or credit card you can make a complaint directly to us.

 

On 2 March 2017 the Financial Conduct Authority (FCA) published their final rules and guidance for PPI complaints which looks at two important issues.


Firstly, a deadline of 29 August 2019 has been set for making a PPI mis-selling complaint – you will not be able to complain after this date.


Secondly, undisclosed high commission which relates to the bank earning more than 50% commission from your PPI policy.

 

 

Previously rejected complaints


The bank will be reviewing previously rejected complaints that fall within the new FCA rules relating to the undisclosed high commission and we will send you a letter no later than the 29 November 2017. This letter will advise what steps you need to take.
 

Making a complaint

 

Make a complaint yourself

 

You can complain directly to us about the sale of PPI and avoid paying a Claims Management Company (CMC). Claims Management companies may charge you an upfront cost but many charge a fee which can be up to as much as 30% of the amount refunded if your complaint is successful.
The bank will investigate complaints sent directly to us in exactly the same way and within the same timescale as complaints sent in by a CMC, so although you may of course choose to there is no need to use their services. 

 

When you make a complaint about PPI, here's what will normally happen:

 

  • We will send you an acknowledgement letter and to fully understand your complaint we will also ask you to complete a PPI Questionnaire Form. If you fill this form in with as much detail as possible it will ensure we have the information needed to process your complaint as efficiently as possible. However if you do not return the PPI Questionnaire we will continue to investigate your complaint.
  • If we have not completed our investigation within four weeks we will write letting you know when it is likely to be finished.
  • We expect to be able to write to you with the outcome within eight weeks (this will be our final response).
  • If this is not possible, we will advise you why there is a delay and when you can expect our final response. Click here to view our complaints procedures.
  • If we offer you a refund we will aim to make the payment to you within 28 days of receiving your signed acceptance.
 

If you have already made a complaint:

 

We are working hard to resolve your complaint as quickly as possible. You do not need to do anything further once you have contacted us to make your complaint and received our acknowledgement letter. We will be in touch with you to provide a progress update. Thank you for your patience while we review your complaint.

 

If you wish to make a complaint about your PPI, call us on 0345 4507 935†  or alternatively complete the PPI Questionnaire and send to us at:


Customer Care
First Trust Bank
92 Ann Street
Belfast
BT1 3HH

 

†  Lines open: 9am to 5pm Monday - Friday (except on bank holidays). Calls may be recorded. Call charges may vary - refer to your service provider. 

 

 

More about PPI

 

You can visit the FCA website www.fca.org.uk/ppi or call them on 0300 5008082 for further information.