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Unfair Bank Charges Letter Template

Many banks in the United Kingdom have been criticised by financial regulators like the Financial Services Authority (FSA) for selling payment protection insurance (PPI) policies to consumers that were ineligible for coverage. When a lender or credit card issuer fails to disclose the terms, conditions, and cost of a PPI policy, or recommends a policy to an individual that does not meet coverage eligibility criteria, this is known as PPI mis-selling. Fortunately, by taking advantage of the following information it is possible to claim back PPI payments with relatively little effort on your behalf.

Submitting an Unfair Bank Charges Letter Vs Utilizing the Services of Belmont Thornton

Upon discovering that they have been paying for a PPI policy unknowingly, many borrowers choose to seek retribution by submitting an unfair bank charges letter to their financial institution or one of several prominent financial authorities. However, the majority of complaint letters are ultimately disregarded after being reviewed only once by a low-level employee, so it is highly unlikely that writing a letter will allow you to receive a PPI refund. Adversely, the majority of our clients are able to receive total compensation for all of the funds spent on their PPI policy within a matter of weeks, without putting forth the effort to write a lengthy unfair bank charges letter. In a fraction of the amount of time it takes to write an unfair bank charges letter you could fill out a quick claim form and initiate the PPI reclaim process.

Can an Unfair Bank Charges Letter Template Improve Your Chances of Success?

Some frustrated consumers attempt to expedite and simplify the process of filing a complaint by using an unfair bank charges letter template to make the letter look more professional. However, it is unlikely that the template or appearance of your letter will improve the chances of having it read by the necessary party so that your complaint can be resolved. In fact, using a template may actually decrease your chances of success, as there have probably been hundreds or even thousands of other customers that have submitted complaint letters using the same template. Ultimately, claiming back bank charges independently will be just as difficult regardless of whether you use an unfair bank charges letter.

The Disadvantages of Unfair Bank Charges Letter

Aside from the amount of time it will take to write the letter, it will also take several days for the letter to arrive, and then another week or two for the complaint to be processed, depending on the protocol of your financial institution. Furthermore, there is no way of knowing what type of compensation will be provided by the bank, if any. Alternatively, by filing a PPI claim against your lender with the help of Belmont Thornton you can attempt to reclaim all of the funds spent on the PPI policy.

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