Frequently Asked Questions

If you have any questions about our Reclaim Services, please see our list of Frequently Asked Questions below. If none of these answer your query or you would like further information, you can email us at help@moneymt.co.uk or give us a call on 0800 106 2631

PPI Claims

  • What is a PPI Claim?

    If you took out a credit agreement you may have been offered Payment Protection Insurance. This was an insurance designed to cover your repayments if you could not make them under certain circumstances. You may have been mis-sold PPI if the lender added it without permission, giving you the wrong information, not checking your eligibility or adding it even if you said no.

  • How will Money Management Team help me claim PPI?

    First, we’ll take a look at the credit agreements you’ve taken out in the last few years and assess whether we think you have a claim. You might not realise you can – so it’s worth checking with us. Following this, we will help you sort out the paperwork and liaise with your loan company on your behalf. There are a lot of other services we can offer you too dependent on your individual circumstances.

  • How can I apply for a PPI claim?

    You can do it yourself, or engage an authorised PPI claims company like Money Management Team to handle the process for you.

  • I'm in arrears with my lender, can I still apply?

    Yes, PPI can be claimed back if you are in arrears. However, this may not result in a cash refund – if the amount you stand to receive is less than what you owe your creditors, it could be offset against the outstanding balance of the arrears on your account. The good news is that this reduces your debt.

  • Will Money Management Team charge me fees?

    If you choose to enter into any of our reclaim services our fee for a successful claim is 25% +VAT. We work on a No win No fee basis.

  • How can I pay Money Management Team's fees if I'm in debt?

    If we’re successful on reclaiming PPI for you, and the money is used to offset against your arrears, our fees can be spread out with a payment plan based on your circumstances. Reclaiming your PPI could put you in a better financial position overall too, as it can be used to pay off existing loans.

  • Will I have a dedicated adviser?

    Yes, all part of our service at MMT. On your initial call, you will be allocated a Reclaims Adviser who will discuss and advise you on any potential reclaims you have. Once you return your Welcome Pack you will be allocated your own Claims Manager who will be your dedicated point of contact throughout the whole claims process. They will take full responsibility for managing your case.

Read more about PPI reclaims on our dedicated product page

Payday Loan Refunds

Read more about Payday Loan Refunds on our dedicated product page

Packaged Bank Accounts

  • What is a PBA Claim?

    Many people pay a monthly fee for their bank account. The fee usually includes certain benefits such as phone insurance, holiday insurance, break down cover and much more. These accounts are sometimes called ‘Gold’ or ‘Privilege’ accounts.

  • How can Money Management Team help me claim back fees for my Packaged Bank Account(s)?

    We will discuss which account(s) you have and we'll check if there is a fee attached to it and then we will discuss further details including if the additional benefits were applicable or useful to you and how the account was taken out. Following this discussion if we feel you have a potential claim we will help you to arrange the paperwork and we will liaise with your bank on your behalf.

  • How do I make a Packaged Bank Account (PBA) claim?

    You can do it yourself or, like our clients, you can choose to engage an authorised claims company like MMT (Money Management Team Ltd.) (CRM 34681) to handle the process for you.

  • How will my account be affected if I make a claim?

    If your Packaged Bank Account is still in place, there is a possibility that your account could be downgraded to a free current account during/after the complaint process. Your account details will remain the same, but you would no longer receive the benefits that come associated with the account. It is possible that your account may be downgraded to a free account regardless of the outcome of your complaint.
    If you have already downgraded from the package, your account will not be affected

  • Will making a claim affect my overdraft?

    If your overdraft is connected to your Packaged Bank Account, the bank may cancel the overdraft or they may remove any preferential interest rates that you have received from having this overdraft on your Packaged Bank Account

  • Will Money Management Team charge me fees?

    If you choose to enter into any of our reclaim services, our fee for a successful claim is 25% +VAT. We work on a ‘No Win No fee’ basis.

Read more about Packaged Bank Accounts on our dedicated product page