HomeHelpUseful informationPPI

Payment Protection Insurance (PPI)

PPI has been in the media spotlight a lot in recent years, because of concerns that some of these products may have been mis-sold when customers took out Loans, Credit Cards or Mortgages.

On 2 March 2017 the Financial Conduct Authority confirmed that the deadline for making a complaint about mis-sold PPI or unfair commission will be 29 August 2019.

Customer complaints will need to be received no later than 29 August 2019. This is the deadline even if we've invited you to complain previously.

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

What is PPI?

PPI is designed to cover the monthly repayments of your loan or credit card, if you are made unemployed, have an accident, become sick or die.

We stopped selling PPI in April 2008 - but before that we sold 4 main products:

  • Personal Loan Protection Plan
  • Balance Protector
  • Flexiloan Repayment Protection
  • Mortgage Repayment Protection.

How to complain about PPI

We're sorry if you think you were mis-sold PPI - we'll do our best to investigate your complaint as quickly as we can. In any event, we'll be in touch within eight weeks.

If you have already made a complaint, there's no need to do anything further, unless we advise you otherwise. We'll review your complaint and then write to you confirming the outcome of our investigation.

You can tell us about your complaint in the following ways:

By Post

Complete our PPI questionnaire and sent it to us at:

first direct

40 Wakefield Road

Leeds

LS98 1FD

By Phone

03 456 100 100 (Text phone 03 456 100 147)

Using our online form:

Using our Online PPI form is an easy and convenient way to submit your PPI mis-sell or non-disclosure of unfair commission complaint to us.

The form takes up to 30 minutes to complete, however if you don't have all the information to hand, don't worry, you can still submit your complaint. You can't save your progress, so you'll need to make sure you have plenty of time to complete it.

You'll need information about your PPI, including the policy or account number.

Commission complaints

When a bank, lender or other provider sold a PPI policy, the PPI provider would pay them 'commission' for arranging or making the sale. The money for this commission would come out of the payments you made for the PPI policy.

The FCA have introduced new rules that mean customers can complain that their lender earned a high level of commission from the sale of PPI but didn't make this clear when it was sold.

A 'high level of commission' typically means it was more than half of what you've paid for your PPI policy, but you do not need to know how much was earned from the sale of PPI.

The new rules on the sale of PPI mean you can:

  • complain even if PPI was not mis-sold or you don't think it was mis-sold
  • complain again if you have had a PPI complaint rejected

You can submit a complaint about non-disclosure of unfair commissions, even if you've had a PPI mis-sell complaint rejected previously, by using one of the methods in the How to complain about PPI section above.

If you've already complained about PPI and had a refund of some or all of the money you've paid for PPI, we will not consider a complaint about the commission we earned. This is because there is no remaining loss that you need to be compensated for, and you don't need to complain again.'

Our PPI complaint process

Step Action

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 will be sent directly to them

Step 3

We 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 4a

A mis-sell decision is made based on all of the evidence

Step 4b

Any complaint that is rejected for mis-sell will automatically be assessed for unfair commissions

Step 5

If your complaint is rejected for both mis-sell and unfair commission: A response will be sent to you (or your representative) to inform you of our decision.

If your complaint is upheld for either mis-sell or unfair commission: we will pay your refund into your first direct account directly and send you (or your representative) a letter with a breakdown, or if you no longer bank with us we'll send you (or your representative) an offer letter.

Step 6

Once you accept the offer, we will make the payment straight into your nominated bank account, or issue a cheque.

FAQs

    Open all
  • What information do I need to provide?

  • A claims management company (CMC) has offered to handle my complaint for me. What should I do?

  • I cancelled my policy early, can I still make a complaint about PPI?

  • Will complaining about PPI affect my relationship with first direct?

  • How long will I have to wait before I receive a response?

  • What can I do if I'm dissatisfied with your decision?

  • Other brands within the HSBC Group:

  • Where else can I get more information and help on PPI complaints?

Useful documents

Return completed questionnaires to first direct, 40 Wakefield Road, Leeds, LS98 1FD

I don't know if I had PPI, how can I find out?

You can contact us using the details provided, or simply complete our free and easy to use PPI enquiry form and we will respond to you within 40 calendar days.

The key information we need you to provide is:

  • Your full name
  • Date of birth
  • Current Address
  • Previous Address (if applicable)
  • A contact number
  • Whether you're an existing customer

Giving us as much information as possible will help us locate your details.

If you don't bank with us anymore and your details have changed, we may need to verify your identity using a credit reference agency. It will only be visible to you, and won't affect your credit rating.

Accessibility

For more information on additional assistance for our customers please visit the Accessibility section of our website.

If you feel you need some extra support or have any specific needs either call us on 03456 100 100 (Text phone 03456 100 147) or let us know when you submit your complaint/enquiry.

Additional support and information is also offered by the following bodies: