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February 16, 2017 
Daniel Lee Cattles plc is the parent company of Welcome Financial Services Limited. It was founded by Joseph Cattle in Hull in 1927 and they were listed on the London Stock Exchange in 1963. During the 1960s and 70s they bought up other home collected credit companies to establish a wider UK presence. During the next 20 years, they rebranded and expanded even more.
In 1994, they acquired the Welcome Financial Services Limited. In 2003, Welcome Car Finance was launched as a direct distribution motor finance business and in June 2009, was eventually closed in an effort to improve liquidity.
Welcome Finance is a trading name of Welcome Financial Services Limited (WFSL). WFSL is a private company limited by share and has been since January 1914.
There were hundreds of thousands, if not millions, of Welcome Finance PPI policies sold to customers, as well as selling various other types of, generally useless, insurances in order to generate profits at the expense of it’s customers.
Welcome Financial Services hit major problems in the late 2000’s due to accountancy manipulation finally catching up with them.
How were WFSL manipulating their finances in order to appear to still be profitable?
Well, if a customer was unable to meet their monthly payment, WFSL took that missed monthly payment and added it to the end of the agreement term, thus making the customer appear to be up to date with their payments. However, as the payment itself wasn’t made, and Welcome Finance were reporting the customer was up to date with their loan, there was a huge overestimation of the amount of money they had actually collected and reported!
Finally, in 2011, the company was declared in default by the regulator. A major factor behind the company being declared in default was their inability to cope with the sheer number of Welcome Finance PPI complaints and compensation payouts.
In 2012, two former directors of WFSL and Cattles were fined and banned by the City regulator for publishing misleading information that had a “devastating” impact on the company shareholders who lost almost all of their investment in the company.
The two who received the fines were James Corr, who was the former finance director at Cattle and he was fined £40,000 which was reduced from £750,000 on ‘hardship’ grounds, while Peter Miller, Welcome’s finance director was fined £200,000 which was reduced from £400,000. Both men have been banned from working in regulated financial services again.
Another member of the Welcome Finance board who has been banned is John Blake, the former managing director. He has also been fined £100,000 which again, was a reduced fee from £400,000.
So, you may be forgiven for thinking there is no way to get your compensation money from Welcome Finance PPI claims? Thankfully this isn’t the case.
The Financial Services Compensation Scheme (FSCS) is a government body set up to protect consumers in events such as this.
Welcome Finance entered into agreement with the FSCS in a deal that saw Welcome Finance continue to deal with a certain number of PPI complaints, and the FSCS would take over the rest.
Since 2011, Welcome Finance continue to deal with complaints about mis-sold PPI on accounts that were opened between 27th February 2003 and 14th January 2005.
The FSCS take care of any complaints being brought about mis-sold Welcome Finance PPI claims on accounts opened from 14th January 2005 onwards.
Did you take your loan out before 2003? We can still help by looking to file a case against the underwriter of the insurance.
Sound confusing? Don’t worry, Your Money Claim deal with Welcome Finance PPI claims, and the FSCS on a daily basis, and know exactly what is required for each type of claim.
The policies that have been sold by Welcome are worth a staggering amount of money, well into the hundreds of millions and with the recent news that banks are set to re-open more than two and a half million PPI complaints, why not start your claim with us today?
There are also millions of people who are yet to even make a PPI claim. Statistics suggest that there are still around 7 million people who have yet to make a claim and there is a pot of at least £10 billion still to be claimed in compensation.
We operate a no win, no fee* policy which means that you will always be put first; you can read more about that here. What are you waiting for, start your claim today!
Welcome Finance PPI Claims
June 8, 2015 Daniel Lee Tesco bank was founded in 1997 in a joint venture with The Royal Bank of Scotland. The RBS shares were later purchased by Tesco so now it is a wholly owned subsidiary which operates under its own banking license.
They offer a wide range of insurance and also offer loans, savings, credit cards, mortgages and travel products and they also launched a current account in June this year.
The bank has a unique selling point for their banking products as their customers can earn Tesco Clubcard points when they purchase finance products which enables them to cross-sell their products.
Tesco are a company that have thrived in the last 10 years and one of the key factors in that was their strapline, “Every Little Helps”.
Well, it turns out that maybe they’re not all that helpful. Earlier this year, the bank was forced to shoulder a £63 million bill for customer compensation which hindered their efforts to become a new challenger among high street names prior to the launch of their long-awaited current account which, as mentioned previously was unveiled in June of this year.
This £63 million fine breaks down in to two separate charges. The first being a £43 million charge where they were ordered to refund interest and charges to 200,000 credit card customers who received a number of late and/or inaccurate statements during the last 5 years.
The other £20 million has been set aside to cover the costs for those customers who were mis-sold payment protection insurance. The customers would have unknowingly been paying for PPI alongside their credit card repayments, loans or mortgages and the Tesco PPI claims bill already stood at £220 million but with the further £20 million, that has now risen to £240 million.
Have you had a mortgage, loan or credit card from Tesco bank? If you have, you could have been unknowingly paying for PPI alongside your repayments.
You can start your claim with the experts today. Fill in the form on the right hand side of this page and leave the rest up to us.
Tesco PPI Claims
June 8, 2015 Daniel Lee The Barclays PPI Claims story started of many years ago, even before they became a household name.
However, Barclay’s origins date back way before the PPI mis-selling scandal. So, how did this once much loved bank become the most complained about bank in the United Kingdom?
Barclays beginnings go way back to 1690, when two friends, John Freame and Thomas Gould started trading as goldsmith bankers. Barclays later got their household name when John’s son-in-law, James Barclay became a partner of the business in 1736.
Over the years Barclays have become a worldwide name. It is now a British multination banking corporation, and a universal bank with operations in retail, mortgage lending and credit cards! As of December 31st 2011, Barclays had assets reaching $2.24 TRILLION , the seventh largest of any bank worldwide.
Between 1905 and 1916, Barclays wanted to spread their horizon. They extended their branch network by making acquisitions of smaller English banks.
In the following years Barclays extended their enterprise even further by opening their first over-seas operation trading as ‘Barclays DCO’ (Dominion, Colonial and Overseas).
1966 saw Barclays release there first credit card in the United Kingdom. Following this Barclays installed the worlds first ever cash machine on June 27th 1976!
In 1987 Barclays introduced there first connect card, the first debit card in the United Kingdom.
2004 saw Barclays take over sponsorship to the Premier League from Barclaycard.
More recently we’ve seen Barclays create there ‘Digital Eagles‘. Their idea being to create staff who would highlight the benefits of digital solutions, in which would make customers lives much easier.
Over recent years Barclays have found themselves receiving numerous fines for mis-treating or mis-selling to their customers, or manipulating figures to suit their needs.
In 2009, Barclays were given a fine by the Financial Services Authority (FSA) of £2.45 MILLION for failings in transaction reports.
The FSA again fined Barclays on the 18th of January 2011. A fine of £7.7 MILLION was given to Barclays as they gave inadequate investment advice to their customers. Also in 2011, a fine of £1.12 MILLION was issued by the FSA to Barclays Capital for breaching client money rules.
2012 saw Barclays receiving a fine of £59.5 MILLION! This time, for significant failings in relation for London Interbank Offered Rate (LIBOR) and Euro Interbank Offered Rate (EURIBOR).
Earlier this year on 23th of May 2014, Barclays where fined another £26 MILLION, as they failed to control conflict between themselves and their customers.
On the 23rd of September 2014 Barclays where hit once again by the FCA with a fine of £38 MILLION. They breached City rules regarding clients, as they failed to keep their clients funds separate to their own.
Receiving over 5 fines in the last five years, the total is a nail-biting £134 MILLION! A Financial Conduct Authority (FCA) member told The Times, ” We have fined Barclays more times then any other firm”.
‘The Big Bank’ received just shy of 280,000 complaints in the first six months of 2014, most regarding the mis-selling of Payment Protection Insurance (PPI) and Packaged Bank Accounts.
With 81% of PPI complaints that were initially rejected by Barclays being overturned by the Financial Ombudsman Service (FOS), it’s clear that Barclays continue to treat valid customer complaints fairly.
The FOS have received over 26,000 new complaints in 2014 alone, with 66% of these being found in favour of the customers.
Barclays, like most other banks and lenders have mis-sold PPI.
If you’d like to start your own Barclays PPI claim today, then claim now!
We have a No Win No Fee* policy with always puts you first.
In a matter of minutes you could be on your way to receiving THOUSANDS in compensation!
Barclays PPI Claims
June 8, 2015 Daniel Lee Speaking to friends and family regarding the new mis-selling scandal sees me being asked many questions, and much as the same as the PPI scandal was, people initially feel they are satisfied with the cover they have.
Unlike PPI which was hidden, buried within contracts for many, Packaged Bank Account fees are generally easy to spot. If you pay a monthly fee for your account then you have a Packaged Bank Account.
So, onto the dilemma of being happy with your Packaged Bank Account cover, and not knowing whether making a claim that it was mis-sold, is worth it.
The first question you need to ask is what exactly are you covered for? Are you aware of the restrictions in cover?
I’ll start with my own circumstances, and that of my partner, to give you two examples.
Firstly, my partner. She was sold a Packaged Account that included travel insurance, mobile phone insurance, and vehicle breakdown cover. These are three of the most common insurances that are included.
My partner didn’t drive at the time she was sold the account with the insurances!!!
We travelled outside of Europe, and the travel insurance on the account only covered European travel.
She does have a tendency to lose her mobile so I’ll give her that one!
However, two out of the three insurances were completely useless. We made our claim through Your Money Claim and received compensation of just over £600.
My account had the same policies included on my Packaged Bank Account cover. I do drive, and travel within Europe, and I also have a mobile phone, so I could use all three policies within reason. Having said that, I hadn’t checked the small print so there may be many hidden exclusions that I was unaware of.
Nevertheless, let’s assume that I’m able to use the policies. I pay £14.99 per month for these ‘perks’, or £179.88 per year.
Using simple comparison sites I’m able to obtain the same level of cover for just £78.12, a saving of over £100 per year.
When you also take into account that the insurance excess fees on the Packaged Bank Account policies range from £50 – £200 more than the stand alone comparable options it becomes clear that by spending just a few minutes of your time can save you money.
There are many reasons for a mis-sale, and these can be found via our blog here.
The average compensation amount we are recovering for our customers at present is over £1,000. With over 10 MILLION Packaged Bank Accounts still active, and millions more that are not, we estimate the final bill will run into £BILLIONS.
The simple, and resounding answer is NO NO NO NO NO.
No bank or lender is allowed to treat their customer any differently for bringing a complaint to them. If any bank were found to have done this they would open themselves up to huge fines.
Banks must adhere to strict guidelines when it comes to Treating Customers Fairly (TCF) and any bank found to be acting outside these guidelines would face the harshest of action from the regulator.
So, to summarise, if you’re paying for a Packaged Bank Account cover it’s almost certain you’re paying over the odds. The bank have, pure and simply, ripped you off in order to generate profit. Moreover, your bank cannot treat you differently for you raising a complaint regarding the sale of the account.
Claiming couldn’t be simpler. Your Money Claim deal with the case every step of the way.
Your Money Claim beats the banks so you don’t have to. With tens of thousands of customers receiving MILLIONS in compensation, Your Money Claim is used to beating the banks on a daily basis.
Packaged Bank Account cover
October 14, 2014 Daniel Lee If ever there was a prime example of the attitudes of people at the top level in major banks, this is it!
With the long overdue, and I mean LONG overdue, rules being introduced by regulators which could see criminal prosecutions being brought against banking executives for failings, it appears the water has become too hot for some.
Alan Thomson and John Trueman, HSBC Directors, have decided enough is enough, and are quitting in protest of the new rules.
HSBC, amongst most other UK lenders, have systematically mis-sold products such as PPI and Packaged Bank Accounts, and offered terrible advice on mortgages and investments, purely to line their own pockets and that of it’s shareholders.
As if bringing the country, and the rest of the world, to it’s knees wasn’t bad enough, these people would rather run than put right their clear failings.
No doubt Mr Thomson and Mr Trueman’s will be able to enjoy a long and luxurious retirement whilst the rest of us have to pick up the pieces.
Reckless behaviour by senior bank staff will soon become a criminal offence, if regulators get their way.
However the banking industry have claimed that such rules would struggle to attract high quality directors!!!!
If we weren’t still feeling the affects of the huge recession brought about by bankers greed, that would almost be laughable. It’s abundantly clear that the banking industry must start to attract a completely new type of director, people who put customers first instead of their own filthy pockets.
In addition to criminal charges for reckless behaviour, the regulator also has the power to claw back bankers bonuses up to seven years after they have received them.
Unfortunately the new rules mean that bonuses cannot be clawed back for past misdemeanours as this would start with a line in the sand, so to speak.
We have reservations regarding how exactly this will be done, given the history of broken promises by the regulator, but we must remain hopeful they will stand by their new claims of stronger action.
With an estimated 7 million people yet to stake their claim for compensation for mis-sold PPI, and millions more who are entitled to compensation for the new Packaged Bank Account scandal, there are BILLIONS in compensation waiting to be claimed.
Account numbers are not needed, as fast-track systems have been set up between Your Money Claim and most banks which sees lenders provide account details and whether any insurances were added to the account, whether it be a current account, mortgage, loan, credit card or even a store card.
Your Money Claim deals with, and beats, the banks on a daily basis, recovering MILLIONS in compensation for thousands of customers.
So why not start your claim today, it’s your chance to make the banks pay for their past greed.
HSBC Directors
October 13, 2014 Daniel Lee Clydesdale Bank has, in one fell swoop, almost doubled it’s PPI bill.
With a new PPI compensation fund standing at over £1.2 BILLION, a whopping £425 MILLION increase, it’s yet more evidence that the banks and lenders have hugely underestimated what the final PPI bill will be.
With a new wave of claims against mis-sold Packaged Bank Accounts, in addition to the PPI scandal, it’s hardly a good time for UK banks, who are finally starting to face the music for their greed.
The bank, which is owned by National Australia Bank, has had to issue a profit warning on the back of this new addition to the Clydesdale PPI bill.
Further misery was heaped on the bank, which also owns Yorkshire Bank, as it stated this latest increase should see it through this financial year. This clearly indicates that more is to come, much more.
Indeed, only two months ago the bank set aside a further £75 MILLION, hoping this would be an end to it.
Clydesdale Bank and Yorkshire Bank have followed in a long line of banks who have added to the compensation fund over the last few months.
With UK banks adding over £3 BILLION within a 6 week period just a few short months ago, this addition to the Clydesdale PPI bill pushes the overall cost to the financial sector beyond the £25 BILLION mark that they had hoped would be the final figure.
We stated months ago that our estimation was of a final figure between £25 BILLION – £42.5 BILLION.
This is based on basic maths, but is entirely dependant on the estimated 7 MILLION people who have yet to make a claim doing so. Furthermore, with banks and lenders continuing to handle complaints unfairly, our figures suggest that they’ve saved themselves a cool £17 BILLION, simply because of the sheer number of people who accept the banks telling them that their PPI wasn’t mis-sold.
By placing your claim in the hands of the experts, you don’t have to deal with the tactics and hurdles that banks often put up in order to try and wriggle out of paying compensation where it’s due.
Your Money Claim are the experts. From checking to see whether you’ve been sold PPI, to dealing with your lender throughout the claim process, you can relax, safe in the knowledge that your claim is being dealt with by a company that is used to beating the banks every day.
It’s what we do, it’s what we love, so why not start your claim today.
Clydesdale PPI bill
