The Terminator helps fire up a £10bn last dash for PPI refunds as the crunch deadline looms

  • Customers claimed £334 million in April forward of the August 29 deadline 
  • An FCA marketing campaign is being fronted by the head of Terminator
  • It was launched to remind clients to complain earlier than time runs out 

An FCA campaign is being fronted by the head of Terminator actor Arnold Schwarzenegger

An FCA marketing campaign is being fronted by the head of Terminator actor Arnold Schwarzenegger

Banks are braced for cost safety insurance coverage (PPI) claims costing billions of kilos as a crunch deadline looms.

Customers claimed £334 million in April forward of the August 29 deadline, in response to new figures from the Financial Conduct Authority (FCA).

More than £35.three billion has now been claimed and the banks are mentioned to have put one other £10 billion apart for the last few months.

An FCA marketing campaign fronted by the head of Terminator actor Arnold Schwarzenegger will remind clients that in the event that they have not complained to their supplier by August 29, they will be unable to assert a refund.

PPI, designed to cowl funds on bank cards and mortgages in case of sickness or redundancy, was mis-sold to tens of millions of individuals. 

The insurance policies had been usually bought by individuals who weren’t eligible for cowl, reminiscent of the self-employed or these with pre-existing medical circumstances.

Russ Mould, funding director at AJ Bell, mentioned: ‘Banks suppose they’re ready for a rush however we’ll see if the £10 billion they’ve put apart is sufficient.’

Those wishing to test if they’ve a declare can search FCA PPI or name the helpline on 0800 101 88 00.

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