HSBC PPI compensation pot at £3bn

Following on from recent news over the course of the last week that Barclays and RBS/Natwest had increased their provisions to compensate customers for mis-sold PPI, yesterday saw the turn of HSBC.

The £60m addition to the HSBC PPI compensation pot, which also includes HFC and First Direct, sees the combined increases in this latest set of banking figures released total £310m.

HSBC have also announced £31m has been set aside for the mis-sale of Packaged Bank Accounts, becoming the second back to set aside money specifically for this relatively newly uncovered scandal, after RBS/Natwest revealed they were putting £257m into a compensation fund just a few days ago.

HSBC threatens to leave UK

You may have heard recently of HSBC considering moving their headquarters out of the UK.

Their reasons for potentially doing this are akin to a child threatening to run away from home because they’ve been told off by their parents.

The scandal ridden bank are blaming tougher regulation which includes the following….

• Separating the investment (risky) side of the bank from the retail (safe) side to protect consumers
• Holding more cash reserves to safeguard against any future economic crash
• A bank levy against their astronomical profits, to invest for the good of the UK
• Tougher penalties for malpractise and rule breaches

So, the bank that has been guilty of rigging the foreign exchange rate, money laundering for Mexican drug barons, mis-selling PPI, mis-selling Packaged Bank Accounts, providing high rate earners the opportunity to defraud HMRC for tax purposes and rigging LIBOR is threatening to leave?

May I suggest we all club together and buy the cheating bank a one way ticket to wherever they wish to relocate.

Have you had PPI?

PPI was sold on all forms of credit, such as mortgages, loans, car finance, hire purchase agreements, credit cards and store cards.

Not sure whether you’ve been sold PPI?

Our fast and comprehensive checking systems that have been set up with almost all banks allows us to find out whether you’ve been one of the millions who have had PPI.

Not sure whether you qualify? Check here to see whether you may.

Our average successful customer award is £3,332**!

Want to know how much you may be owed? Why not try our PPI calculator.

Making a HSBC PPI Claim

If you have had a loan, mortgage, car finance or credit card with HSBC within the last 25 years there’s every chance you’ll have been paying for PPI.

We’ve made claiming easy, taking the stress out of you having to deal with the paperwork, the stress, and the tactics employed by the bank to try and wriggle out of paying.

So….how do you start your claim?

#1: The first option for you is to fill in the form which can be seen on every page. By doing so, we will send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we send you with your form, we can make a start on your HSBC PPI claim.

#2: The second option for you is to download our form, which again can be found on every page by clicking the ‘download pack’ button. Simply print it out, complete it and send it back to us, our address can be found here. Once we receive is back we’ll let you know and make a start.

Our team of experts are on hand to answer any questions you have via telephone, email or our live chat facility.

So….why wait, let’s get started!

HSBC PPI compensation pot reaches £3bn