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expert-wilson, small business owner
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When you make a PPI claim through a broker, does the bank

Resolved Question:

Hi There,
when you make a PPI claim through a broker, does the bank send a cheque to the agent made out to them, or is the cheque made out to you.
Submitted: 1 year ago.
Category: General
Expert:  expert-wilson replied 1 year ago.

Hi George,

I've been through the PPI process twice now myself, on both occasions, through two seperate PPI companies, the check/settlement is originally sent to the PPI company, they then issue you a check from themselves, with their share removed (anywhere from 10-40% or more)

The lowest cut I found was around 30%, but supposedly there are other companies which offer lower rates

It's a good idea to shop around.

Let me know if you have any further questions.

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Expert:  expert-wilson replied 1 year ago.

Also, be sure to read this page, before claiming - http://www.fscs.org.uk/your-claim/claim-management-companies/