Complaints and compliments

 

What is PPI?

Payment Protection Insurance (PPI) provides cover for the monthly repayments of your loan(s) if you are made unemployed, have an accident, become sick or die.

HSBC stopped selling Payment Protection Insurance in its branches in December 2007 and throughout the rest of its business during 2008. Prior to that time, 5 main products had been sold:

  • Personal Loan Protection Plan
  • Cardholder Repayment Plan
  • Flexiloan Repayment Protection
  • Mortgage Repayment Protection
  • Small Business Loan Protection

Regulatory and Media interest has been focused on PPI products for the last few years due to concerns that some of these products may have been mis-sold when customers took out Loans, Credit Cards or Mortgages.

Following a legal ruling in April 2011, rules set out by the Financial Conduct Authority (FCA) regarding how firms, including HSBC, should deal with PPI complaints have been adopted.

  • If you believe you were mis-sold PPI, there is no need to use a claims management company.

    We're sorry that you have a concern about Payment Protection Insurance (PPI) and we promise to do our best to investigate your complaint as swiftly as we can.

    If you feel you need to make a complaint, we would like to stress that there is no need to use a claims management company. While you are of course free to do so, the claims management companies (CMC) usually take a fee or percentage of any compensation you are paid.

    If you contact us direct we will assess your complaint in exactly the same way that we treat complaints sent in by a CMC and you won't have to pay them a fee or any percentage if we do end up compensating you.

    You should write to us at:
    HSBC, PPI Complaints
    PO BOX 6177
    COVENTRY
    CV3 9HP

    Please provide full details of why you believe you were mis-sold PPI. You may find it helpful to complete and send us the questionnaire available on the Financial Ombudsman Service website. Sending us this form should ensure we have all the information we need to process your complaint efficiently and as quickly as possible, however it is not mandatory for it to be completed.
  • How long will I have to wait before I receive a response? Clearly, we always want to be able to resolve any concerns you raise with us. We expect to resolve your complaint within eight weeks. In any event, we will be in touch within eight weeks to update you on our investigation. If you have not received a reply from us within eight weeks of raising your complaint, you have the right to refer your case to the Financial Ombudsman Service.

    The FCA has published details of the timescales for the handling of complaints relating to PPI, these are available on the FCA website .

    If you have already made a complaint, there's no need to do anything further. We will review it as soon as possible and then write to you confirming the outcome of our investigation.

HSBC PPI Complaint Process

Process flow chart

Frequently asked questions

To make the whole process as straightforward as we can, we've listed below some frequently asked questions about PPI and further independent sources of information for you if you have any further questions.

A claims management company has offered to handle my complaint for me. What should I do?

We will assess complaints sent directly to us in exactly the same way and in the same timescale as complaints sent in by a CMC, so there is no need to use their services. For independent guidance on how CMCs work visit the Which? website.

What else do I need to know about the process?

If you need more information you might find it helpful to consult the Financial Ombudsman Service (FOS), which provides an independent source of information. Visit it at www.financial-ombudsman.org.uk.

I would like to complain about a PPI policy that was sold to me in the past, what do I need to do?

There is no need to use a claims management company to complain - it is easier if you make complaints directly to HSBC and we will handle your complaint in exactly the same way. You should write to us at:

HSBC, PPI Complaints
PO BOX 6177
COVENTRY
CV3 9HP

In your letter, please provide full details of why you believe you were mis-sold PPI. You may find it helpful to complete and send us the questionnaire available on the Financial Ombudsman Service website.

Sending us this form will ensure we have the information we need to process your complaint efficiently and as quickly as possible.

I cancelled my policy early, can I still make a complaint about PPI?

Although you may have cancelled your PPI policy early, you can still make a complaint by following the process outlined above.

My circumstances have changed, can I still make a complaint about PPI?

Although your circumstances may have changed, you can still make a complaint by following the process outlined above.

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

After receiving our decision if you remain dissatisfied you have the right to refer your complaint to:

Financial Ombudsman Service
South Quay Plaza,
183 Marsh Wall,
London
E14 9SR

You can telephone them on 0845 080 1800 or visit www.financial-ombudsman.org.uk for further information.

What was the outcome of the Judicial Review?

In April the High Court announced that it had dismissed the British Bankers Association's (BBA) Judicial Review application, which challenged the way the Financial Ombudsman Service and Financial Conduct Authority said banks should handle complaints about the sale of Payment Protection Insurance (PPI). The Court dismissed the Judicial Review application in its entirety.

What is HSBC's position with the High Court judgment?

HSBC accepted the High Court's decision and we are working with the Financial Ombudsman Service and the Financial Conduct Authority to ensure we handle all Payment Protection Insurance (PPI) complaints in accordance with the new FCA Dispute Resolution (DISP) rules.

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