Reclaiming overdraft protection insurance?

moogdroog

My husband received a letter and welcome small cheque the other day from his bank Natwest, due to them ovecharging overdraft protection insurance (Credit Zone, I think it's called).
It was news to him that he even had it - and a quick phonecall to Natwest revealed that he'd been paying it since 2003, almost £5 per month, totalling nearly £600. He didn't know he had it, wouldn't have signed up for it anyway, and probably would have had reason to use it in the intervene in years if he'd know about it. Any paperwork relating to it is long gone, if it existed.
Anyway, he of course now wants to know if he can reclaim it - has anyone done this? Furthermore, is it the standard PPI form that he needs to complete or is that just for credit cards and loans?
Any ideas what he might get back if his claim was upheld?
And any tips?

[Deleted User]

moogdroog wrote: »

It was news to him that he even had it - and a quick phonecall to Natwest revealed that he'd been paying it since 2003, almost £5 per month, totalling nearly £600. He didn't know he had it, wouldn't have signed up for it anyway,

If this has been on every statement he's received since 2003, why hasn't he queried it before now? More likely is that he's forgotten all about agreeing to it-this is what the Bank's records will show.

If you want a refund of this money, you need to show that it was mis-sold to you with a robust complaint complete with evidence of any allegations of wrong-doing by the Bank. Certainly, never having been in overdraft would strengthen his case, but just saying "he never would have used it" is not valid unless supported.

The fact that they've refunded an "overcharge" does not indicate any mis-selling on the policy itself.

moogdroog

Yes, I realise it's a fair point as to why he's never noticed it. However, my husband isn't the type to look at bank statements, as much as he's not the type to sign up for anything that might be considered financially responsible.
He simply didn't know he had it.
I'm guessing it was added to his account at some point, I'm sure they notified him, but I'm guessing this letter remained unopened along with much of his mail. :mad: