PPI FAQ - Help and Support | Ulster Bank

Payment Protection Insurance (PPI) FAQ

If you have any queries about completing the form or on PPI more generally please refer to the frequently asked questions below or contact us directly using the details provided.

Once we have received your complaint we will work through it and provide you with a decision as soon as possible. We may also contact you for further information if we need this to process your complaint.

Making a complaint directly is easy and may save you money compared to seeking advice from a CMC.


Icon expand What is Payment Protection Insurance?

Payment Protection Insurance (PPI) is an optional insurance policy often taken with loans, mortgages or credit cards that could provide cover if you can't meet your repayments in the event of involuntary unemployment, illness, accident, disability or death.


Icon expand What happens after I make a complaint?

We are committed to investigating your complaint fully and fairly and ensure each complaint is dealt with in the same way.

Here are the steps we take on receipt of your complaint:

Step What we do Timescale
Acknowledgment Record your complaint and issue an acknowledgment letter which will include your unique PPI complaint reference Within 5 working days of receiving your complaint
Investigation Collect all relevant information relating to your complaint and conduct our investigation This could take up to 8 weeks
Final Decision Write to you to explain our final decision in detail and if appropriate, make an offer of compensation Within 8 weeks of receiving your complaint


If you make a complaint and it is upheld, your PPI policy will be cancelled in order to calculate your refund. This means that all of the benefits and cover offered by the plan will cease


Icon expand If an offer has been made, how long does it take for payment?

Payment will be made within 28 days. If you have an Ulster Bank account, payment will be made directly to your account. If you no longer bank with Ulster Bank, payment will be made to your nominated bank account. We will need identity and address verification to make the payment.


Icon expand How do you calculate the offer of compensation?

We calculate our offer based on a refund of the PPI premiums you paid, interest on those premiums and statutory interest.

This offer of compensation will take into account any arrears outstanding on the account/s the policy relates to.


Icon expand What can I do if I am dissatisfied with your decision?

If, for any reason, you are dissatisfied with our decision you can contact the Financial Ombudsman Service (FOS) for further investigation. Their contact details are:

The Financial Ombudsman Service 
Exchange Tower 
E14 9SR

Telephone: 0800 023 4567

Email: complaint.info@financial-ombudsman.org.uk

Website: www.financial-ombudsman.org

Please note that the FOS cannot consider a referral from you until we have issued a Final Response Letter or the 8 week period has lapsed.


Icon expand I was sold a PPI policy but cancelled it. Can I still make a complaint?

Yes, even if you have cancelled your PPI policy you can still make a complaint about how your PPI policy was sold using the process above.

Please approach us directly about any PPI claims.


Icon expand Will I be compensated for any delays in resolving my complaint?

We are committed to resolving complaints within 8 weeks. If there has been a delay in processing your complaint we will make sure any interest is back dated so you are not disadvantaged if we uphold your complaint.


Icon expand Can I still buy PPI?

Although we no longer sell PPI products, if you have protection needs please visit one of our branches and we will be happy to discuss how you can best protect yourself.


Icon expand I still hold a PPI policy, is my cover affected by this?

No, your cover is not affected by this.

If you make a complaint and it is upheld, your PPI policy will be cancelled in order to calculate your refund. This means that all your benefits and cover offered by the plan will cease.

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