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1.5 million people reclaim PPI from Barclays

Over 1.5 million customers have made claims against Barclays for mis-sold payment protection insurance (PPI), with the average pay out worth £1,808, according to the bank’s end of year accounts, published today

Barclays’ accounts state that it has tried to proactively contact 680,000 customers regarding PPI policies, but only a quarter of customers (28%) have replied.

And don’t think the issue just affects Barclays’ customers. Lloyds and RBS published their 2015 PPI claims figures last week, revealing they’ve put aside more than £20 billion to repay customers – equivalent to more than £300 for every person in the country.

Source: Tom Wilson


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