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Overdraft protection - miss sold?
edwardbear_2
Posts: 1 Newbie
Any one out there know if the insurance that the banks make you have when you take out an overdraft could now be construed as miss selling similar to loan protection??
Any one else in a similar situation or perhaps been successful at reclaiming?
I have overdraft protection , but have no idea what it covers or indeed why I have it! have been paying it for in excess of 6 years.
Its on a business acct overdraft - am self employed and already had/have my own personal accident insurance so am non plussed as to why I have paid 6yrs worth of protection against I have no idea what!! the bank is disinclined to be of any help.
any comments........
Any one else in a similar situation or perhaps been successful at reclaiming?
I have overdraft protection , but have no idea what it covers or indeed why I have it! have been paying it for in excess of 6 years.
Its on a business acct overdraft - am self employed and already had/have my own personal accident insurance so am non plussed as to why I have paid 6yrs worth of protection against I have no idea what!! the bank is disinclined to be of any help.
any comments........
0
Comments
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Yes as you are not forced to have it.Any one out there know if the insurance that the banks make you have when you take out an overdraft could now be construed as miss selling similar to loan protection??I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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