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However, it is clear that the banks are unhappy with the decision made by the FCA. Most of the high street banks had been preparing their provisions for a 2018 deadline. This is not welcome news for the banks; with a PPI bill that currently stands at nearly £40bn it will mean further weaker profits, smaller dividends and a low share prices.

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  2. What is PPI? If you have taken out a mortgage, personal loan, or opened up a credit card in the last several years, you may have signed up for PPI and not even known what it is. But what exactly is PPI and do you really need it? PPI is short for payment protection insurance. Financial institutions sell it to their customers as an insurance that will protect them in case they lose their job or become ill and are unable to pay their loan. This type of insurance is sometimes called credit protection insurance as well as unemployment, accident or sickness coverage. Please Use URL

  3. How do I check if I have had PPI? If you are unsure if you have been sold PPI with any of your finances then our Free Check will help you get that peace of mind. We will confirm with your lender if you were sold PPI and once they return the results we will then inform you of the outcome. How much I can claim? The larger your loan was or credit card balance, the larger the PPI refund will be. We are talking an average of around £3000. In simple terms, you will not know until you are made an offer + interest, but it will most likely surprise you how big it is.If you are not sure whether you are entitled to file a claim, we can help. At iSmart all you have to do is complete the application on our Free Check page so we have the information we need to investigate this for you. You can either complete the application online Please Use URL

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