PPI (Payment Protection Insurance) calls have been one of the most common types of spam calls in the past few years. Companies have been mass calling people, either using automated messages or calling in person.

The Financial Conduct Authority (FCA) announced you can’t claim any PPI back from before 2019. Many PPI companies sprung up out of nowhere looking to make some fast cash by telling people they can claim back their money from the banks on their behalf. They will tell you it doesn’t cost you anything for them to do this. Of course, if you are entitled to any money back they will take a hefty cut.

The irony of this is that these companies are irrelevant, as you can claim back PPI free of charge directly from your bank. Unfortunately, the banks have been keeping quiet about this, as have the PPI companies. This is going against the FCA’s Treating Customers Fairly principle.