Current Account Fees, Concern at HSBC and FTSE Struggles

Unfortunately, despite the JR being decided clearly in the customer's favour, we are yet to see clear strategy from any of the banks on how they intend to deal with the backlog of complaints. Many of the big banks appear to still be locked in meetings about how they intend to deal with the cases. Furthermore, they appear to have yet to analyse their strategies fully about how they intend to deal with future claims.

We hope to begin seeing our clients claims settling very soon so we can get them the money they rightly deserve!

In the meantime, there are many more stories surfacing about account fees and charges. It is becoming much clearer now that because the banks have set aside so much money to potentially repay PPI to customers that they need to recoup that lost money elsewhere. It surely wont be too long before we are all paying monthly account fees to our banks as non-fee paying accounts reduce month by month.

A story surfaced about HSBC's liability to repay PPI to their customers. Although they had set aside some £250 million, they admit that the overall cost may be different as they take into account many 'other factors'. These factors include the nature and volume of customer complaints, the extent to which HSBC may be required to take action, and the facts and circumstances of each individual customer's case.
Accordingly, bosses admitted there was currently a "high degree of uncertainty" around the ultimate costs of dealing with the matters.

Finally, the FTSE took a small tumble as a result of the banks' confirmation of their PPI liabilities. This was to be expected as the nations biggest institutions forecast poor results for the coming years as a result of PPI compensation.

If you think you have been mis-sold PPI, please get in touch with us at www.ppireturn.co.uk