Payment Protection Insurance (PPI)
On 2 March 2017, the Financial Conduct Authority (FCA) announced new rules and guidance about handling PPI complaints.
The FCA has said the cut-off date for making a PPI claim is 29 August 2019.
We are currently reviewing the new guidance, and will be working closely with the FCA to implement its updated rules and guidance on handling complaints by 29 August this year. In the meantime, you can continue to submit your complaints over the telephone, in writing or in your local branch.
What is PPI?
PPI provides cover for the monthly repayments of your card(s) and loan(s) if you become unemployed, have an accident, become ill or die.
M&S Bank (previously trading as M&S Money) stopped selling PPI/Personal Loan Protection (PLP) during 2008. Prior to that time, mortgage payment protection (MPP) was sold, and PPI was available with the following products:
- M&S Credit Card
- M&S Personal Loan
- M&S Car Buying Plan
- M&S Buying Plan
- M&S Chargecard
- M&S Budgetcard
- M&S Personal Reserve
How to complain about PPI
We're sorry that you have a concern about PPI and we promise to do our best to investigate your complaint as swiftly as we can. In any event, we'll be in touch within eight weeks.
If you've already made a complaint, there's no need to do anything further, unless we advise you otherwise. We'll review your complaint as soon as possible and then write to you confirming the outcome of our investigation.
You can tell us about your complaint in the following ways:
Download and complete our PPI questionnaire and return it to:
PO Box 3843
Monday to Friday, 8am–6pm, please call 0800 633 5817
At any other time, please call 0345 900 0900
Via our online form:
Using our online PPI form to submit your PPI complaint is an easy and convenient way to submit the form to us.
The form takes around 30 minutes to complete. You'll need to make sure you have plenty of time to complete it, as you can't save your progress.
Before you start, you'll need to have information about your PPI, including the policy or account number, to hand.
Please be aware your information will only be used for the purpose of your PPI claim. If you wish to know more about how your information may be used, please look at the Privacy Notice.
Our PPI complaint process
|Step 1||PPI complaint received, reviewed and logged onto our systems|
|Step 2||We'll acknowledge your complaint by letter – if you have raised a complaint via a Claims Management Company (CMC), this letter will be sent directly to them|
|Step 3||We'll gather all the background information regarding your complaint (this may include a phone call to you if we need any further information about the sale of your PPI)|
|Step 4||A decision will be made based on all of the evidence|
If your complaint is rejected:
1. A letter will be sent to inform you of our decision
2. The complaint will be closed
If your complaint is upheld:
1. An appropriate offer will be calculated
2. An offer letter will be sent to you
3. Payment of the offer will be made
4. The complaint will be closed
Providing as much information as possible about the sale of your PPI will assist us in conducting a thorough investigation of your PPI complaint.
If you can't remember all the information, you can still complain. We might need to contact you if we have a question about the information you've given us or we need more information.
If during the complaint process you remember some further details, or find a document that you think will help us with our investigation of your complaint, please send us the details as soon as possible.
We will assess complaints sent directly to us in exactly the same way, and in the same timescales, as complaints sent in by a CMC, and the process isn’t complicated, so there is no need to use their services. For independent guidance on how CMCs work visit the Which? website.
Although you may have cancelled your PPI policy early, you can still make a complaint by following the process outlined above.
No, if you feel you were mis-sold PPI we are happy to investigate your concerns. Your PPI complaint will be assessed separately to any other element of your relationship with us.
Although your circumstances may have changed, you can still make a complaint by following the process outlined above.
You can contact us using the above details, or simply complete our free and easy to use PPI enquiry form and we will respond to you within 40 calendar days.
We'll acknowledge your complaint within five working days and be in touch within eight weeks to update you on our investigation. If you've not had a reply from us within eight weeks, you have the right to refer your case to the Financial Ombudsman Service.
We are also working closely with the Financial Ombudsman Service (FOS) to ensure that any PPI complaints that have been referred to them are resolved as quickly as possible.
If you want an update at any stage, just give us a call.
The FCA has published details of the timescales for the handling of complaints relating to PPI, these are available on the FCA website.
After receiving our decision if you remain dissatisfied you have the right to refer your complaint to:
Financial Ombudsman Service
You can telephone them on 0300 123 9123 or visit www.financial-ombudsman.org.uk for further information.