09 Mar 2015

A question about : Monument Payment Break Plan Refund

I had a Monument credit card (Raphael Bank) account which I closed (settled) back in November 2012 after 10 years.

Before I closed the account, I tried to claim back the Payment Break Plan Protection which I was paying. I was told that I could not claim it back after writing to them.

Long story short, I claimed on the protection back in 2005 for a couple of months until I closed the account to new spending as they increased my APR. They continued to add the PBP to my account for the next 7 years and it was this period I was claiming for.
They stated as I made a claim, I could not get a refund.

I just received a statement nearly 2 months ago saying that my account was now in credit by Ј1707 and that the credit was:-

Payment Break Plan refund = Ј560
Interest Refund = Ј1147

I called up Monument and they said that a cheque for the refund would be with me within 8 weeks. It been nearly 8 weeks and no cheque yet.

My question is, Has anybody else received a refund statement recently from Monument? and does that interest refund look kind of big compared to the Payment Break Plan refund, how do you think they worked that one out?

Many Thanks in advance

Best answers:

  • Hi, I have paid off my monument account a year or so ago by claiming back the payment break plan, I have now had two statements saying I'm in credit. So I've phoned them today and they told me they are sending me out a cheque for the amount I'm in credit for and should receive it In 14 working day, now I'm a bit miffed because I have already claimed the payment break plan back once.
    Have you received your payment yet??
  • I had to ring Monument back again to complain that it had been longer than the 8 weeks needed to process the refund. The rep apologized and said he would have the cheque issued within the next 2 weeks.
    I received the cheque 4 days later for the full amount.... Result.
    I had initially tried to claim the payment break plan when I closed the account about a year ago but was told I already made a claim on it and that the case was now closed and no payment would be refunded.
    I'm still no sure how the interest came to twice the amount of the payment break plan (Ј500ish for the PBP and Ј1100ish interest refund).
    Thanks for the reply though grunner2009
  • Hi
    I was interested to know how you went about claiming this back.
    I had this payment break plan with monument from about 2002 to 2012. I was a housewife at the time when I had the card so didn't work. I remember the woman on the phone being very pushy. I told her I didn't want it as I wasn't working but she said that it covered me if our household income fell by 25% and I felt cornered into taking it out.
    It really was a rubbish product as all it did was freeze the account.
    My Monument account was taken over by Barclays, I phoned them up to find out about reclaiming and they told me I can't as its not Ppi.
    Were your accounts still with Monument or with Barclays ? Did they just write to you or did you put in a complaint for a refund ?
    Any help would be appreciated.
    Thanks , Tangerina
  • Hi Tangerina,
    My Monument account was never transferred to Barclays, instead it went to Raphaels Bank Plc.
    I decided to try my luck by sending a letter to them stating I was mis-sold the Payment Break Plan, It was up to them to prove that I wasn't mis-sold it and as it was more than 10 years back and in your case 12 years back, they would have to delve deep in order to prove if mis-selling occurred.
    I started another thread a while back titled "Monument Credit Card PPI Claim" (search for it) which has all the details of what I and other people have done.
    The gist of it was, I went to the Which website (which.co.uk) which had a template for claiming back PPI. (When you get to the which website, there is a search bar, type in ppi template, it will be the first link that comes up).
    I filled out the template and sent it to the following address:-
    Complaints Manager,
    Monument Customer Services,
    51 Saffron Road,
    LE18 4US
    Another person (Rodsbaby) sent it to a specific person there:-
    Carole O'Neill
    Customer relations
    51 Saffron Road
    LE18 4US
    Contact info:-
    Monument Customer Services Contact Number - 0870-333-5487
    As I said in my previous post, The reply to my template letter was that I had already made a claim on it and that the case was now closed and no payment will be made. It then went onto say that I was welcome to go through the financial Ombudsman if I felt hard done by.
    That it what I did, An exact copy of the template letter was sent to the Ombudsman.
    A year later I received a statement as did grunner2009 showing that my account was now in credit with a Payment break refund...Hoooray
    I think they are now required to go through everybody's past accounts and automatically issue refunds as it seems that in the last month or so, a few people have received automatic refunds on their statements, even if the account was closed long ago, like mine was.
    Hope this info was helpful to you.
    Remember, Payment Break Plan and ppi are the same thing just reworded.
  • I just successfully claimed my pbp refund but a word of caution. Everything was plain sailing including a final offer letter promptly despatched within two weeks of the claim (by phone, they acknowledged I was still paying pbp and would be in touch). I then received a statement on my active account showing refund going in, then the balance removed - a final transaction "pbp credit balance refund". I called standard call centre to check that this was them withdrawing to process a cheque to me and the call centre op swore blind on repeated occasions that no, this was them taking further historical charges due to me using the account over 12 years. It made no sense as I had paid on time each month and nothing showed as charges. I sort of knew that it could only be a customer service transaction sending me a cheque but the call centre made it as clear as day this was not the case and I was due nothing. Sleepless night followed by very efficient chap at uk customer services allaying my fears the next morning. Don't call standard call centre for clarification. They do not know what is actually happening!! If you get a letter you'll get your due refund.
  • I was in a similar boat myself.
  • I rang today to check my balance,as I had payed most of it off using my last statement. I was told my balance was 11p and as a"GOOD WILL" gesture it would be quashed I was also informed that, although I didn't have ppi, i did have a payment break plan which I knew nothing about and isn't mentioned on my statements. Apparently it is going to be shown to the superiors, who will work out what I am owed and I will receive a cheque,in 8 weeks. Don't know how much, but very surprised to be told about it without asking
  • I too have received a letter informing me I am due a refund within 28 days but it hasn't arrived. A tel call to the number given is an answer service. Anyone else had this???
  • hi yes ive had letter saying they refund me within 28 days nothing try phoning always answer service,they wanted to check i owe no money to dca which i dont so wrote to them last week giving them til tomorrow for cheque so will go onto the next stage which is financial ombudsman now i have even sent proof i owe nothing o well i can wait just more interest applied the longer they dont pay out.
  • have you got your refund now tigert1?
  • I received a letter from monument that I would receive a refund Ј952 in 28 days which was on the 28/07/2014. I have managed to speak to someone, she told me the cheque would be in the post, to date I have no cheque the last I heard was yesterday it was in for signing with the finance department.to be honest you can ring and ring these people it will either be engaged or answer phone, strange
  • hi lottya i would hand it over to fos now thats what im going to do once 28days are up,there excuse to me making sure i owe no money ccjs etc,yes i know what you mean ring either engaged or answer phone damn annoying,they doing there upmost to delay payment i think once fos involved think they will send money.
  • I received a call today from the Barclays dept that handles the payment break plan for my old Monument card, they thanked me for filling in the paperwork and asked me the same questions over again, IE... why do I think i am owed a refund for my pbp yadda yadda yadda, he then stated that he would be passing it on to his superior to work out how much refund I would be awarded and told me that I should see a cheque before 13th Oct... fingers crossed...
  • I called Barclays this morning to check on any update for the claim of the payment break plan... the lady said they had issued and sent a cheque for Ј890.00 on the 25th... well happy with that, fingers crossed it comes now, Many thanks for your help and advice on here
    Edit: Just to add, refund came in the form of a cheque this morning..
  • Been having regular telephone conversations with monument re- the payment break plan refund that i am due.
    In 2007 my credit card debt was sold to another company.
    But i recently received a letter informing me that i am due a refund of Ј1200 for the pbp payments that i have made prior to selling the debt.
    Monument are now saying that they will not pay me the refund cheque but instead they will send the refund amount to the debt company to reduce the debt.
    I have argued that monument owe me that money based on the fact that i made those pbp payments for years prior to the debt being sold to another company.
    I have spoken to the financial ombudsman and they will send a letter to monument.
    Does anyone know what the legal position is on monuments refund please?
    Any suggestions what i should do would be appreciated.
  • Did you get further with your claim hellywelly65? Thanks