20,000 PPI complaints submitted via free toolWhich? helps you reclaim PPI for free

31 May 2012

Since the launch of our free PPI complaint tool more than 20,000 people have used it to submit a complaint to their lender over a mis-sold Payment Protection Insurance policy.

I have just been told that I will receive a refund of my PPI payment, plus the interest I paid on it, and a compensation payment. I'm delighted with this, and I just wanted to thank you for your excellent campaign.

PPI tool user


The tool allows you to reclaim PPI for free by tailoring a complaint letter for you to send to your provider.

With an average payout of £2,750, and claims management companies taking a fee of 25% plus VAT as standard, we want to help consumers avoid paying hundreds of pounds for something that they can easily do themselves.

PPI Summit

Which? and MoneySavingExpert.com held a PPI summit on 23 April to find ways to raise awareness that you don't need to use a claims management company (CMC) to issue a PPI complaint.

Representatives from all the major banks and credit card providers, regulators and the Financial Ombudsman Service pledged action to help improve the process by which PPI compensation is allocated.

Following the summit, Which? chief executive Peter Vicary-Smith wrote to the Justice Secretary Kenneth Clarke calling on the government to ensure that third party complaint handlers are properly regulated and bad practice surrounding PPI claims is stamped out.

The letter was co-authored by MoneySavingExpert.com founder Martin Lewis and chief executive of the British Bankers' Association, Angela Knight.  

Taking PPI to the Ombudsman

Last week the Financial Ombudsman Service reported it received a record 264,375 new cases, in the 2011-2012 financial year, up 28% on the previous year. 60% of the new cases were about the sale of Payment Protection Insurance (PPI) with the number more than doubling to 157,716 – the highest number ever received in a year about a single financial product.

If you've not heard from your provider within the agreed deadline - typically eight weeks - you can escalate the issue to the Financial Ombudsman Service (FOS). You can also take your complaint to FOS if you're not happy with the outcome of your complaint.

Which? executive director, Richard Lloyd, said: 'With over £9 billion set aside for PPI redress, barriers that prevent people getting redress must be removed, and quickly.'

More on this...

• Find out if you were mis-sold PPI and how to get your money back
• Read the Which? guide on how to complain to the Financial Ombudsman• Read our letter to justice secretary Kenneth Clarke