The Ultimate Mis sold PPI Facts & Figures List

Three of the UK’s biggest banks announced additional set-asides for their PPI refund provisions this week, HSBC is putting an extra £220m, RBS an additional £400m and Lloyds another £1bn in the pot. So to celebrate we’ve put together the ultimate list of PPI related facts and figures, enjoy…

£12.9bn – The amount set aside by the 14 biggest banks, building societies and credit card firms, Which? (as of 1 November 2012).

£5.3bn – The biggest amount being refunded by any one bank, Lloyds banking group

£2,750 -  The average refund received by a mis sold PPI victim

£52,851 – The largest single refund handed out by PPICo.org

1000 – The number of people employed by Lloyds Bank just on PPI claims

16m – The number of PPI policies sold since 2005

4.5m – The number of people that have or will be compensated

400 – The number of complaints the FOS receives about mis sold PPI every hour

UK Financial Institution PPI provisions as of 1 November 2012:

Lloyds: £5.275bn
RBS: £1.735bn
Barclays: £2.176bn
HSBC: £1.35bn
Santander: £821m
MBNA: £506m
Northern Rock and Bradford & Bingley: £293m
Yorkshire and Clydesdale banks: £275m
Co-op bank: £120m
Nationwide: £128m
Capital One: £66m
Tesco: £92m
Welcome Financial: £113m
Principality: £27m

Total: £12.9bn

Source: Which?

Mis sold PPI claims Uphold Rates

70% – The uphold rate for complaints made to the FOS

Complaints about PPI end up with the Financial Ombudsman when a bank takes too long to reply to, or refuses to refund, the customer. Here’s the highest uphold rates for each of the main lenders:

- Lloyds TSB: 98%

- MBNA: 97%

- Barclays: 93%

- CitiFinancial: 93%

- Welcome Financial: 92%

- Bank of Scotland: 90%

- HFC: 90%

- NatWest (89%)

So there it is, the most comprehensive and fascinating list of PPI facts you’ll ever read. Remember them all and wow your friends and family this evening, they’ll thank you for it!

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