Direct debit on Lloyds bank account - "Pinnacle Ins Plc" - what is it?

VincentVega

For as long as I can remember, I've had a direct debit on my Lloyds TSB bank account for the sum of £3.95 per month, paid to an organisation called Pinnacle Insurance Plc. The DD reference number is "POP" followed by my account number. If I look at my on-line banking, the earliest available entry of July 2002 shows an entry for this, so it's eight years at least.

I have no idea what this is - some sort of insurance for if I'm unable to work, perhaps? I suspect they foisted this on me when I was somewhat more naive about bank accounts and insurance policies.

Can anyone tell me what this is likely to be? I have no paperwork about it (probably went to the great filing cabinet in the sky many years ago). If I have no idea what it is and why I started paying it, I don't really want to continue to do so. Can I just cancel it from my on-line banking or should I write to Lloyds and ask for information on this thing?

8 * 12 * £3.95 = £379.20. A fair amount of money. Perhaps they should reimburse me.

simax

http://www.pinnacle.co.uk/

They provide things like unemployment cover etc etc.

Why should they re-imburse you? If you're daft enough to leave it running without even knowing what it's for, then you deserve to lose it.

jambosans

Contact Lloyds TSB, they should be able to provide a contact telephone number or address (at the very least) for the Direct Debit. You can cancel the Direct Debit through Lloyds TSB, however it's still worth contacting Pinnacle to query and advise you've cancelled the Direct Debit.

Top hit on Google for "Pinnacle Insurance Plc":-
http://www.cardifpinnacle.com/content/about-us.php

It will be something you've agreed to, and therefore not something you can reclaim. I say this with a degree of confidence because no one pays something for 8 years with no idea what it is for, without querying it before hand.

opinions4u

Pinnacle are an insurer. Ring them (with the reference number off the direct debit) to find out what you are insuring.

8 * 12 * £3.95 = £379.20. A fair amount of money. Perhaps they should reimburse me.

Or perhaps you should consider yourself a little bit foolish for ignoring it 96 times.

VincentVega

Hmm, so I post a genuine question about something I took out years ago and have now forgotten the original reason for doing so, and all people can do is insult me?

Some people really have no manners at all. Are you this rude in real life as well?

I humbly apologise for not being quite so awesome (or conceited) as simax or opinions4u [sic]. Though at least my spelling is better than this latter named individual.

opinions4u

VincentVega wrote: »

Hmm, so I post a genuine question about something I took out years ago and have now forgotten the original reason for doing so, and all people can do is insult me?

No, I provided you with the details of the company that you are doing business with and a suggestion as to how to contact them. If I was insulting you, I'd have done it with significantly more venom than merely describing your actions as "foolish" - which is exactly what you have been.

Some people really have no manners at all. Are you this rude in real life as well?

Only to people who believe that they should be reimbursed by somebody else for their own failings. Read back what you posted originally and explain how anybody could, hand on heart, respond with a "oh, poor little you, of course the bank/insurer should repay you 8 years' premiums for this insurance contract that you signed up for".

Though at least my spelling is better than this latter named individual.

It may well be. Feel free to identify the spelling error for me as I like to learn from my mistakes. (I think, grammatically, the word you should have used above is "Although", not "Though", but I won't lose any sleep over it).

pmduk

They make a good point though, why should anyone refund you? You have ignored this for 8 years. At least find out what it is and if appropriate cancel it now.

[Deleted User]

VincentVega wrote: »

Hmm, so I post a genuine question about something I took out years ago and have now forgotten the original reason for doing so, and all people can do is insult me?

To be fair, nobody's insulted you. By not keeping an eye on your bank statements for the last 8 years, you have made a foolish mistake. One that may cost you money, but hopefully you'll learn from.

There's no "easy route out" on this one, no "magic pill" to reclaim 8 years' worth of payments just because you feel like it.

I'd find out what it is, cancel it if necessary, and move on.

Alpine_Star

jambosans wrote: »

It will be something you've agreed to, and therefore not something you can reclaim

This is purely speculative - bearing in mind that a significant proportion of PPI mis-selling complaints are upheld precisely because the claimant didn't give true consent.

Danstar_2

VincentVega wrote: »

Hmm, so I post a genuine question about something I took out years ago and have now forgotten the original reason for doing so, and all people can do is insult me?

Some people really have no manners at all. Are you this rude in real life as well?

I humbly apologise for not being quite so awesome (or conceited) as simax or opinions4u [sic]. Though at least my spelling is better than this latter named individual.

To be fair if I read this and saw that you were being insulted for no good reason I'd probably feel inclined side with you, such is my boredom ATM, but 8 years EVERY month is a long time and some of the comments RE refund are right.

You could try for a refund, no harm in asking but it is pretty silly of you to just let it happen without question.

medic1978

VincentVega wrote: »

8 * 12 * £3.95 = £379.20. A fair amount of money. Perhaps they should reimburse me.

Clearly not much money to you, otherwise surely you'd have noticed it.

Perhaps you should take some responsibility