Sentence examples for selling payment from inspiring English sources

British banks selling payment protection insurance (PPI) products on an industrial scale were doing what a street vendor in a bazaar might try.

Last month, the FSA announced that companies selling payment protection insurance alongside loans and credit cards would have to review 185,000 complaints they had rejected since July 2007.

DealBook » Barclays Sets Aside $1.1 Billion More for Insurance Claims  |  The British bank has earmarked an additional £700 million to compensate clients who were inappropriately sold payment protection insurance.

To be sure, some of the increase could be the result of people cashing in their windfalls from compensation for wrongly sold payment protection insurance (PPI).

Lloyds had admitted that it sometimes sold payment protection insurance, which would cover mortgage or other payments in case of unemployment, to customers who were not eligible for it.

The loss resulted from a 3.2 billion provision the bank made last August after it inappropriately sold payment protection insurance, which covered customers if they were laid off or became ill.

The British bank said it had made a new provision of £400 million to reimburse clients who were sold payment protection insurance, which covered customers if they were laid off or became ill.

The bank also recently faced a $1 billion bill to compensate clients to whom it inappropriately sold payment insurance, and it might yet have to compensate some customers that had bought a certain interest rate-hedging product.

The majority of Britain's largest banks, including HSBC, Barclays and Royal Bank of Scotland, have been required to set aside more than a combined £10 billion to compensate clients who were inappropriately sold payment protection insurance, which covered customers if they were laid off or became ill.

"They are stung once when sold payment protection insurance, and they will be stung again if a claims management company charges them a fee of 25% of more for doing something that they can do themselves".

In addition, he adds that Poynt aims to leverage the thousands of sales reps who today sell payment processing in the U.S., who could now sell software.