Barclays Overdraft Insurance

Einstien

Hi,

I've had a Barclays overdraft for about 15 years, but it was always around 5k overdrawn - somehow I ended up with some form of PPI insurance for around £8.00 per month (Think this was a bank error, and it remained like this for a number of years)

Anyhow back in around 2005/6 I extended this overdraft to £8,000 and at the time I was focred to take out further PPI as Barclays stated the account already had it in place.

Obviously my premiums went to around £60.00 per month, plus around £40.00 for overdraft interest.

Does anyone think that I am eligable to reclaim this Overdraft PPI insurance as it was effectively forced upon me?

Thanks, Einstien.

Consumerist

If the PPI was added without your consent then it seems to me that it was certainly mis-sold. Accordingly you should be able to reclaim your PPI premiums and compensation.

You will need to download the FOS questionaire, complete it and send it to the bank concerned. Keep a copy in case you need to refer to it later.

di3004

Hi and welcome

I agree with Consumerist, give it a go with your reasons you have by completing the questionnaire posted in Consumerist's post above, they have 8 weeks to give a decision, some may ask for more time, that is okay just as long as you know where you are.

Good luck.

maxdp

Einstien wrote: »

Hi,

I've had a Barclays overdraft for about 15 years, but it was always around 5k overdrawn - somehow I ended up with some form of PPI insurance for around £8.00 per month (Think this was a bank error, and it remained like this for a number of years)

Anyhow back in around 2005/6 I extended this overdraft to £8,000 and at the time I was focred to take out further PPI as Barclays stated the account already had it in place.

Obviously my premiums went to around £60.00 per month, plus around £40.00 for overdraft interest.

Does anyone think that I am eligable to reclaim this Overdraft PPI insurance as it was effectively forced upon me?

Thanks, Einstien.

Hi There

I have claimed Business Loan Insurance from Lloyds. They may well state that because it was a Business Loan then they have a right to basically cover their backs. They should have given you the option of finding alternative cover for this loan. Good Luck