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Page last updated at 17:28 GMT, Friday, 6 May 2011 18:28 UK

PPI - What will the final bill be?

cash tug of war
BBC Radio 4's Money Box
Saturday, 07 May 2011 at 1204 BST On Radio 4 and Online

Lloyds Banking Group has thrown in the towel in the fight to avoid paying compensation for possible Payment Protection Insurance mis-selling.

It has set aside £3.2 billion to meet the costs of compensation and administration and is opting out of any further legal action. So will other banks follow suit?

And what will the final bill be to compensate customers? Some analysts say the figure could be as high as £8 billion - making it one of the UK's biggest financial mis-selling scandals.

Money Box has raised concerns about the selling of PPI for for over a decade. The programme looks back in its archives and asks why it's taken so long for customers to be able to seek redress.

It also hears from Guy Anker, from Money Saving Expert and from Peter Tutton from Citizens Advice.

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Sony Playstation customers offered fraud protection

Around three million British customers of Sony's playstation 3 are to be offered some form of fraud protection after hackers stole their personal details last month.

Many have complained about being kept in the dark following what could have been the world's biggest ever data breach.

This week the company announced that a second branch of the firm, Sony Online Entertainment, had also suffered a serious compromise, including the loss of thousands of UK customers' bank card details.

Bob Howard reports.

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DWP taking money from deceased people's accounts

Money Box hears from listener, David Smith, who is concerned that the DWP used their powers to recover money from his deceased brother's bank account even though it had been frozen. Under what legal provision can government agencies recoup monies paid after death?

Solicitor Andrew Kidd, Partner at Silverman Sherliker explains your rights and responsibilities if you find yourself in a similar position.

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Foreign currency charges anger listeners

Buying foreign currency and paying for goods abroad can often result in the consumer paying charges - whether it be a currency conversion charge, a foreign transaction fee or a credit card cash advance.

But some Money Box listeners have been in touch to complain that they've been charged a fee for simply paying for their currency in sterling on a debit card.

BBC Radio 4's Money Box is broadcast on Saturday at 1204 BST and repeated on Sunday at 2102 BST.

Money Box



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