Which? calls for more consumer refund claims

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Which? calls for more consumer refund claims

Thu 22nd Oct 2009

Which? has advised people to make their own claims if they are trying to get a refund from a banking product, rather than go through a third party.

Martyn Hocking, editor of the organisation's magazine, pointed out that many claims management companies are actually breaking the law, because they distort their success rates and the benefits of using their services.

He made his comments following research by Which?, which tested 38 companies of this type over getting refunds for mis-sold payment protection insurance (PPI) or excessive bank charges.

The organisation found only ten companies passed the test in terms of honesty and accurate information, even though these businesses typically charged 25 per cent commission.

"Making a claim for mis-sold PPI or bank charges is a simple process and you can do it yourself for free," said Mr Hocking.

This week, Which? commended the Financial Services Authority on the new mortgage regulations it has proposed, although it wants to see stricter rules imposed in the future.

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