RBS PPI charge increases by £600m

It never rains but it certainly does pour for the troubled RBS / Natwest banking giant.

An eighth consecutive annual loss has today been reported, including news of a further RBS PPI charge of £600m.

This latest addition sees the bank, still majority owned by UK taxpayers, having set aside £5.1bn for their part in the biggest consumer financial scandal ever to hit these shores.

Total UK PPI bill

With UK banks having already set aside £3.65bn, and HSBC still to announce their figures, there is still a chance we could see £5bn added this quarter.

At £35.2bn when taking into account lenders outside ‘the big four’, the current bill has already smashed through the initial £25bn estimation by so called experts, and is edging ever nearer to £42.5bn, the figure we believe the scandal will finally cost the industry.

Millions yet to claim

There are still potentially millions of people yet to stake their claim, with the majority of these people being unaware they were a victim of the abhorrent tactics employed by bank staff in adding PPI without the knowledge of the customer.

The doors are slowly starting to close however, with the toothless Financial Conduct Authority, bowing to pressure from the banks and looking to bring in a deadline.

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 PPI Claim

Option #1: Fill in the ‘Start Your Claim’ form on this page. We’ll send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we provide, we’ll make a start on your PPI claim.

Option #2: Click the ‘Download Claim Pack’ button. Simply print out the form, complete it and send it back to us. Our address and email address can be found here.

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

RBS PPI charge