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PPI Complaints Information

It has been identified by the Financial Conduct Authority (FCA) that in a number of cases PPI may have been mis-sold to customers, meaning that a refund could be due on money paid for a PPI policy.

Following a Supreme Court decision and new rules and guidance from the FCA, customers can now make a new type of complaint about the sale of PPI.

Customers could now receive some money back if a high level of commission was earned on the PPI policy but this was not disclosed when it was bought. The PPI commission may have been earned by the intermediary selling the PPI policy and/or by us.

A high level of PPI commission typically means it was over half of what was paid for the policy. It was not then common practice to tell customers about PPI commission at the point of sale, as there was not a requirement at the time.

Are you eligible to make a claim?

To be eligible to make a claim with PSA Finance you must meet the following criteria:

  • You must have been sold a PPI policy for which PSA Finance UK were responsible under its previous trading styles, Peugeot Financial Services or Citroën Financial Services.
  • You must have paid more than 50% commission as part of your premiums (we'll tell you this).
  • You must not have had a previous PPI claim upheld by us and all premiums returned to you.
  • You must have taken your agreement out before 1st January 2011.
  • Your agreement was NOT Contract Hire or Finance Lease.
  • You did not cancel your PPI policy without paying any premiums.
  • If you took your policy out before 6th April 2007, it must have been running after 6th April 2008 to make a claim for undisclosed commission.

Please be assured that by checking or complaining about PPI, neither your relationship with PSA Finance nor will your credit score be negatively affected in any way.

How to make a claim

For PSA Finance to check whether you have an eligible claim, please email or write to us at the contact details below, including the following details:

  • Your full name
  • Your date of birth
  • Your finance agreement number and/or the vehicle registration number
  • Your address and post code at the time of your agreement
  • Your current address and post code (if different)
  • Whether you are contacting us under the FCA’s new rules about undisclosed commission or if you think your PPI policy may have been mis-sold to you

Please be aware that the more information you provide, the more quickly we will be able to locate your agreement and assess your eligibility to make a claim. If we are unable to locate you using the details you’ve provided, we will contact you for more information.

If your complaint is upheld following our investigation, any refund or redress will include interest at a statutory rate of 8%.

Before you apply, please note the following:

  • If you took out your finance agreement before 2002, we will not hold your finance details and won’t be able to accept your claim. You should contact Santander Consumer UK directly using the details below.
  • If you took out your finance agreement after 2011, PPI would not have been sold to you and therefore, you won’t be eligible to make a claim.
  • If your finance agreement was Contract Hire, Finance Lease or Personal Finance Lease, PPI would not have been sold to you and therefore, you won’t be eligible to make a claim.
  • If you took your policy out before 6th April 2007, it must have been running after 6th April 2008 to be eligible to make a claim for undisclosed commission. This does not affect your ability to raise a complaint about the mis-sale of your policy. 

PSA Contact Details

PSA Finance Ltd UK
61 London Road
Redhill
Surrey
RH1 1QA

ppiclaims@psa-finance.com

Santander Consumer Contact Details

Santander Consumer Finance
Santander House
86 Station Road
Redhill
Surrey
RH1 1SR

ppi@santanderconsumer.co.uk

When is the deadline?

The FCA has set a deadline of 29 August 2019 for all PPI complaints, including the new rules regarding undisclosed commission.

What is the role of the FCA and FOS in the complaints process?

The Financial Conduct Authority (FCA) regulate the financial sector and protect consumers. They provide information about PPI and they can help you understand it, but they cannot give you advice about your individual circumstances or complaint.

The Financial Ombudsman Service (FOS) is a free, independent service for settling disputes between financial businesses and their customers. They can deal with complaints about a wide range of financial issues, including PPI.

You might want to contact the Financial Ombudsman Service if you complain to us and aren’t happy with our response or don’t receive a response within 8 weeks.

Further information:

Further information and guidance can be found on the FCA website.