Barclays Bank PPI Claim
PPI Claim Form
Have you ever had PPI with Barclays Bank?
If you answer "No" to any of the below questions, there's a very good chance Barclays Bank mis-sold you PPI:
Barclays Bank should not have added PPI to your agreement without your permission.
Barclays Bank should have given you the unpressurised option of having PPI.
PPI would not have been needed from Barclays Bank if you had pre-existing PPI cover elsewhere.
Barclays Bank should have explained the cost of PPI to you at the point of sale.
If over 50% of your PPI premiums were paid in commission to Barclays Bank and this was not explained to you, the "Plevin" ruling means you were mis-sold.
Again, Barclays Bank should have given you the option of having PPI or not.
Your right to cancel PPI within the cooling off period should have been explained to you by Barclays Bank.
To start your Barclays Bank PPI claim, follow our simple 4 step guide above.
My Claim Solved have had great success in reclaiming PPI for customers against Barclays Bank and so far we have reclaimed over £42m* for our clients in PPI mis-selling.
If you were mis-sold PPI by Barclays Bank, and the claim is successful, you would be entitled to a full refund of PPI premiums you paid to Barclays Bank, a full refund of interest charged and compensation interest at 8% per annum on the above sums.
Don't Delay! If you would like to start your PPI Claim against Barclays Bank, complete the form at the top of this page.
* PPI refunds obtained through our claims service, amount is prior to our fees plus VAT and any income tax.
Many consumers were mis-sold PPI (Payment Protection Insurance) by Barclays Bank, PPI was usually added to a customer's policy by Barclays Bank, in some cases without their knowledge. Barclays Bank were known to disapprove a credit application if PPI was refused by the customer.
Barclays Bank PPI wasn't all bad, it was intended to protect borrowers' from being unable to make repayments if they were unable to work due to illness or injury. The problem was how PPI was mis-sold by Barclays Bank.
There are many examples of Barclays Bank mis-selling PPI, some consumers were not even made aware by Barclays Bank that PPI was attached to their policy, and if the customer was made aware that PPI had been attached, they were not informed by Barclays Bank that it was optional.
A new PPI mis-selling factor called "Plevin", which means if over 50% of the PPI premiums you paid were set out as commission to Barclays Bank, and this was not disclosed to you at the point of sale, then you would be due PPI compensation from Barclays Bank.
Back in 1690, two bankers by the name of Mr John Freame and Mr Thomas Gould started trading as goldsmith bankers, working from their shop in Lombard Street in London, UK. This continued through to 1736 when Mr Freame's son, Joseph Freame, employed his brother-in-law as a partner in the company, Mr James Barclay. This is where the name Barclays came into effect, as still stands to this very day.
Moving on to the 19th Century, 20 other small, family run banks decided to merge to form Barclay and Company Ltd in order to be able to compete with the much larger banks. Many of the other 19 banks who merged, were members of the "Society of Friends", also known as Quakers. As a result of this, they already had a very strong network of contacts and business links, further strengthened by several marriages that occurred between numerous different members of the society. Quakers were well renowned for their trustworthiness, therefore making them ideal in the banking industry.
The Gurneys were originally woollen merchants in the textiles industry. They founded their first bank in 1775 in Norwich, UK and by the late 1800s were spread across the majority of the East Anglian area of the UK. This merger accounted for 8 of the 19 banks which merged to form Barclay and Company Ltd.
Similar to the Gurneys, Backhouses of Darlington were founded in 1774 and were originally linen manufacturers. It was them, along with the Gurneys and Barclay that formed the majority behind the large merger.
In 1896, Barclay and Company Ltd had in excess of 180 branches and over 800 employees with the majority based in the South Eastern area of the UK, with over 190 of the staff based in London alone. With the majority being in the South East of the UK, Barclay and Company could not yet claim themselves to be a "Nationwide" bank. This issue was fixed by numerous additional mergers over the following 20 years.
By 1920, the Treasury announced that no further mergers were to be allowed by larger banks, although Barclays (who changed their name in 1917 from Barclay and Company Ltd to Barclays Bank Ltd) were already ranked the 3rd largest bank by the time this announcement was made. This didn't bother them at all, as they had a bigger vision than just the UK. With Frederick C Goodenough at the helm, Barclays acquired Colonial Bank in the Caribbean and West Africa, Anglo-Egyptian Bank in Palestine, Egypt and Cyprus and the National Bank of South Africa. Frederick decided to merge the 3 newly acquired banks into Barclays Dominion, Colonial and Overseas, who later changed their name to Barclays Bank international.
In 1962, due partially to both of the World Wars, Barclays had more female employees than Male. Improvements in technology also meant that banks had started to advertise on a much larger scale for the first time, therefore further increasing their client base.
Further changes to the Barclays name were made in 1982, when their name was changed to Barclays Bank PLC, and again in 1985 when the international and UK businesses were merged forming what we now know as Barclays PLC.
Barclays PLC expanded in the mid-1980s to offer investment banking, now known as Barclays Capital. This part managed the larger businesses and corporation accounts.
Numerous other acquisitions and mergers have taken place in the years since then, making Barclays PLC one of the largest financial services providers in the entire world. They offer their numerous financial services to over 45 different countries in the world and employ in excess of 120,000 staff worldwide. That's an extremely large overheads bill!