Reclaim fraud protection insurance?

trenchwars

I found out recently that my father has been paying Barclays a not insignificant sum for their Card Protection Insurance (not PPI) for a number of years now.


He agreed to take this insurance in the erroneous belief that he would be liable for any losses if his card was stolen or used fraudulently.


I don't know the exact details of how he was sold this policy but I doubt that he was given the full facts about his liability for losses incurred by credit/debit card fraud (which is zero I believe unless he was negligent), and that if he had he would not have agreed to take the policy.


Has anyone had any success in reclaiming this type of insurance? Is the route the same as for PPI - i.e. letter to bank, followed by letter to banking ombudsman?

di3004

trenchwars wrote: »

I found out recently that my father has been paying Barclays a not insignificant sum for their Card Protection Insurance (not PPI) for a number of years now.


He agreed to take this insurance in the erroneous belief that he would be liable for any losses if his card was stolen or used fraudulently.


I don't know the exact details of how he was sold this policy but I doubt that he was given the full facts about his liability for losses incurred by credit/debit card fraud (which is zero I believe unless he was negligent), and that if he had he would not have agreed to take the policy.


Has anyone had any success in reclaiming this type of insurance? Is the route the same as for PPI - i.e. letter to bank, followed by letter to banking ombudsman?

Hiya
I believe a reclaim can still be made, unless someone states otherwise, but if your dad did not want this or its worthless to him, I believe you can put in a reclaim.

You can of course put a letter together and request they refund the amount paid of the premium back plus interest etc, and give reasons as well.
If this is an ongoing account you can request they cancel at the same time.

If your not happy with the final decision, then its the same procedures, you can make a complaint to the FOS.

They normally have 8 weeks to make a decision.

There is a reclaim questionnaire which replaced the template letter, but maybe in this case a letter of your own words would be sufficient enough.

Hope this helps, good luck.