# Got PPI refund and now they took it back?



## pete330 (Apr 18, 2006)

Got £7500 into my account today from lloydstsb for ppi refund and i transferred it in to my savings account

I have just checked my account and there is -£7500 in it now lol

Says contra payment

Called lloydstsb and they dont know whats going on and took all my details,but the ppi department is closed until tomorrow now

Anyone had any of the same?


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## adf27 (Mar 14, 2012)

you actually got some money!?!?!?!? 
I keep getting texts telling me I have unclaimed PPI money, but I just delete them


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## zsdom (Aug 30, 2011)

Was the product you had the ppi on still open as they may have used that to clear or reduce the balance of that


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## pete330 (Apr 18, 2006)

zsdom said:


> Was the product you had the ppi on still open as they may have used that to clear or reduce the balance of that


no old loans from years ago


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## Ben_ZS (Sep 28, 2008)

This sort of happened to me with the Hailfax. It shown up on my 'Recent Transactions' on my online banking, but didn't seem to come off my balance. 

When I phoned they said it would come as a cheque through the post. :wall:

Did it register on your 'Available Balance' or you Recent transations?


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## pete330 (Apr 18, 2006)

Ben_ZS said:


> This sort of happened to me with the Hailfax. It shown up on my 'Recent Transactions' on my online banking, but didn't seem to come off my balance.
> 
> When I phoned they said it would come as a cheque through the post. :wall:
> 
> Did it register on your 'Available Balance' or you Recent transations?


It was on my balance in my current account today
I then moved it to my savings account
and then during the day sometime they made a Contra Pay for all the same amounts as they put in

So the account was then -7500 and i will now get shafted big time for over draft interest on that as i don't have an over draft so they will of opened up an emergency over draft

I am in bits hear with worry now and the ppi department does not open until tomorrow
Great


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## pete330 (Apr 18, 2006)

Another thing is my account has text alerts when i go below £400 and you then have a certain period to get the money back into account to avoid any charges and that message was never sent today or i would of said hold on a min ealier and transferred the money back over sharp

Over draft interest on 7500 is about £1500 lol
i dont even have that much


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## zsdom (Aug 30, 2011)

I wouldnt worry, if they do start faffing you about just get a little arsey with them


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## Huw (Feb 16, 2007)

Had you been told you would be getting a refund of £7,500 or did it just appear in your account? 

I don't think you will get any answers tomorrow, payment departments are usually Mon-Fri, the PPI dept will need to speak to them to see what has happened. In the meantime, transfer the money from your savings account back into the current account to avoid the chance of any charges. LTSB should cover any charges you get from their error. Take the name & note times of anybody you speak to. 

From memory, LTSB will charge about £10 per for unplanned overdraft charges, plus a one off £5 monthly charge.


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## pete330 (Apr 18, 2006)

Huw said:


> Had you been told you would be getting a refund of £7,500 or did it just appear in your account?
> 
> I don't think you will get any answers tomorrow, payment departments are usually Mon-Fri, the PPI dept will need to speak to them to see what has happened. In the meantime, transfer the money from your savings account back into the current account to avoid the chance of any charges. LTSB should cover any charges you get from their error. Take the name & note times of anybody you speak to.
> 
> From memory, LTSB will charge about £10 per for unplanned overdraft charges, plus a one off £5 monthly charge.


Yes i have all the paper work stating i was getting the ppi refund
I am not concerned about a £5 charge,its interest on an un planned over draft for £7500 i am concerned about,i guess i will just have to wait to see what they say tomorrow if i get hold of anyone
I have already transferred it back


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## Huw (Feb 16, 2007)

If there is any interest for the unplanned it will be £10 per day. Check out page 5. http://www.lloydstsb.com/media/lloydstsb2004/pdfs/banking_charges_brochure.pdf

Pretty sure the PPI line is open from 9-1, but i would be very surprised if they could give you any answers tomorrow.


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## CliveP (Feb 1, 2009)

pete330 said:


> Yes i have all the paper work stating i was getting the ppi refund
> I am not concerned about a £5 charge,its interest on an un planned over draft for £7500 i am concerned about,i guess i will just have to wait to see what they say tomorrow if i get hold of anyone
> I have already transferred it back


Pete, if you're worried just transfer the money back from your savings account into your current account then that's sorted (although I don't think you'll have an issue). Then you can separately chase up the payment.....
Irrespective if the bank have made a mistake and you took action in reasonable knowledge it was your money (that action being transferring it to your savings account) then they'd have to pay you back any charges they may try to impose...

Conclusion, no worries!

Regards,
Clive.


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## pete330 (Apr 18, 2006)

Huw said:


> If there is any interest for the unplanned it will be £10 per day. Check out page 5. http://www.lloydstsb.com/media/lloydstsb2004/pdfs/banking_charges_brochure.pdf
> 
> Pretty sure the PPI line is open from 9-1, but i would be very surprised if they could give you any answers tomorrow.


£10 fee per day for un planned over draft used
£5 charge

19.3% interest
Not sure how much interest would be 7500 for 1 day


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## mattsbmw (Jul 20, 2008)

pete330 said:


> £10 fee per day for un planned over draft used
> £5 charge
> 
> 19.3% interest
> Not sure how much interest would be 7500 for 1 day


about £4.00


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## pete330 (Apr 18, 2006)

So i called the PPI department today and explained the situation to a not so helpful lady,she will pass the details on to her manager to investigate the complaint
I asked what is a Contra Payment and why have you taken it?
Contra payment means we have taken the money back from (No ****)but this should not of happened and we will get it refunded to you,so please keep checking your bank balance

FFS how can you be so happy one day planning your future and bang the next day they take it all away from you


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## Huw (Feb 16, 2007)

Frustratingly, this sort of thing can be caused by the smallest mistake, someone mis-reading a spreadsheet or pressing the wrong button. If you have had a letter stating that you are owed £7,500, then you will get it, it may just take a few more (working) days to get it to you. Not a great situation, but you will get it.


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## andy monty (Dec 29, 2007)

Kick up a stink ask for their complaints departments details get in touch play the very upset and worried customer card they are next to useless (LTSB) we was getting debt collectors letters from people working for them our "please dont ring the FSA" we will compensate you was more than the debt then they did it again.... and we got even more money..... Stick at it,......


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## Phil H (May 14, 2006)

this might be a long shot as i've had similar situations, it could be because its a friday then weekend (non business days)
I've had money go into my account on a friday, i have moved things around then over the weekend or on the following monday i have -£*** on my statement then it seems to sort itself out without any bank charges. 

As said above just transfer it back and do it again on monday or tuesday. The bank told me in the past that some systems dont like a transaction close to a weekend. 

Like i said this could be a long shot


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## k9vnd (Apr 11, 2011)

pete330 said:


> So i called the PPI department today and explained the situation to a not so helpful lady,she will pass the details on to her manager to investigate the complaint
> I asked what is a Contra Payment and why have you taken it?
> Contra payment means we have taken the money back from (No ****)but this should not of happened and we will get it refunded to you,so please keep checking your bank balance
> 
> FFS how can you be so happy one day planning your future and bang the next day they take it all away from you


But how can they refund this money into your nominated bank account, then find out what your savings account number is to take it back?... thats fraudulent!!!!
Just a banking error mate.


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## pete330 (Apr 18, 2006)

k9vnd said:


> But how can they refund this money into your nominated bank account, then find out what your savings account number is to take it back?... thats fraudulent!!!!
> Just a banking error mate.


No they took the money back out of the account they put it into hence why the account then went into - ££

I have now transferred it back from savings to the account to make the balance + but still missing the 7500


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## Huw (Feb 16, 2007)

Any updates?


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## pete330 (Apr 18, 2006)

Huw said:


> Any updates?[/QUOTE
> 
> Still no money
> Will give them till wed then call back


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## pete330 (Apr 18, 2006)

Ok its just went back in to account
Not touching it this time,so will see how long it stays there this time lol

Now to just wait for that letter from lloyds saying i am due them money for un planned overdraft them i will be calling them to tell them straight

Oh and that payment included interest upto 13th April and its now 17th,so should i call them and ask for more or just leave as is haha


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## Huw (Feb 16, 2007)

You won't get any more interest I'm afraid. When calculating the refund they follow FSA guidelines, then add four weeks extra interest as they realise it will take time to get the payment to you, if you get it after a week they don't remove three weeks interest.


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