What is PPI?
PPI stands for Payment Protection Insurance. Find out more information about PPI.
You may have heard that PPI wasn't always sold well by banks. In December 2010 the Financial Conduct Authority (FCA) brought in new rules which gave banks clear instructions in how to respond to complaints from customers about the mis-selling of PPI.
If you're concerned about the way PPI was sold to you by Capital One please read on to find out how we can help.
Should I complain about the way my PPI was sold?
If you're not happy with the way we sold your PPI, you can ask us to review your sale.
If you can't remember if you purchased PPI or how it was sold, you can also contact us. We'll review your account and, if you had PPI, look into the way it was sold.
We've always been committed to dealing with complaints fairly and properly. This means that you can expect us to investigate your complaint thoroughly and give you a response that takes into account all the facts of your case.
How do I complain about the way my PPI was sold?
If you're confident that you had PPI, please complete the PPI complaints form. This will ensure that we have all the information we need to process your complaint quickly and efficiently.
When completed, please send it to:
Capital One (Europe) plc
PO Box 5281
If you have any questions about completing the form, please call us on 0333 0001601*
You can also complain without using the form, but you'll need to ensure you include as much information as possible in your letter. We'll also need your Capital One account number so we can identify your account and the way your PPI was sold. If you no longer have all the documentation relevant to your complaint, we'll still be able to consider your complaint in full, but we may need to ask you for more information.
If you don't know if you had or have PPI on your Capital One account, please check any application documents or statements you may have. If you're still unsure, please call us on 0333 0001601*.
Should I use a Claims Management Company?
You may be considering using a Claims Management Company to complain on your behalf. There's no need for you to do so as your complaint won't be handled any differently if you use one of these companies or complain directly to us.
Many Claims Management Companies charge a substantial fee if they recover any compensation for you, typically 25% to 30% of the amount they recover. This will significantly reduce the amount of money you may receive. Also, by using a Claims Management Company, the process won't be any quicker than complaining directly to us yourself.
If you decide to use a Claims Management Company please read their terms and conditions carefully before going ahead, to make sure this is the best option for you.
We've always been committed to dealing with complaints fairly and properly. This means that you can expect us to investigate your complaint thoroughly and to give you a response that takes in to account all the facts of your case.
We work closely with the Financial Ombudsman Service to ensure that we make decisions that they agree with. In the majority of cases that are referred to the Financial Ombudsman Service about Capital One, they don't change our decision.
For independent advice about complaints about PPI, you can find information here:
The Financial Ombudsman Service
Money Saving Expert
What can I expect from Capital One?
We'll handle your complaint fairly and thoroughly. We'll treat your case individually and look in to all the facts. Our response to you will be individual and specific to your case.
When we receive your complaint we'll acknowledge receipt of it as soon as we can and within a reasonable timeframe.
We'll aim to complete our investigation within 8 weeks of receiving your complaint. Occasionally it may take longer than 8 weeks. We'll keep you informed if we expect this to happen.
If you're entitled to compensation, we'll tell you this and explain how we have calculated it. We'll ask you to sign an acceptance form and process the refund within 21 working days of receiving this.
At any time during the process you can call us on 0333 000 1601* for an update on your complaint.
Will my complaint be successful?
Each case will be considered in detail and will be decided on its own merits. We can assure you that your complaint will be handled in the same way, whether you complain directly to us or use a Claims Management Company.
If we reject your complaint we'll clearly explain why. If you disagree with our decision, we'll be happy to hear your reasons why.
How does Capital One calculate refunds?
If your complaint is upheld we will pay you redress. We work this out by refunding the PPI premiums you were charged and any fees or interest caused by the PPI premiums. If the payments you made were higher than those you would have made, and /or would have put your account into credit if you did not have PPI, then we will pay interest on these two sums.
If you have any questions about a refund offer you have received from Capital One, please contact us on 0333 0001601*
What if I don't agree with your response?
If there's anything you think we have done incorrectly or if there's additional information you think would benefit your case, please let us know straight away.
Alternatively, you can ask the Financial Ombudsman Service to review our decision. The Financial Ombudsman Service is a free to use service that resolves disputes between customers and financial services firms.