Hsbc not repaying cpp pre 2005

Rotti

There has been a lot of success with customers getting repayments of charges from CPP paid since 2005 but pre-2005 seems to be very much more selective and a very grey area.

Some banks are reportedly paying out but HSBC are saying they won't pay as the scheme had "other benefits" besides card protection. They say that they sent out renewal notices which detailed the main benefits of the policy and provided the opportunity to cancel if we felt it was no longer required. BUT we had it purely to protect the card as advised at the time and didn't really need all the other things that came with it, plus we never claimed in the 11 years we paid them.

They went on to list all the other benefits it gave but then say that the potential fraud liability per credit, debit and store card without it was only £50 prior to notifying the bank - we only had the one card so could simply have called the bank in the event of a mishap. In those days it was only £1000 cover anyway but has been increased to £20,000 over the years. So their argument is that it was mis-sold as protection after 2005 but not before.

Interesting then that a CPP (part of HSBC) manager told me that HSBC should pay for the first 10 years. A case of everyone not singing from the same hymn sheet even within the same organisation. But if HSBC are right why are other banks choosing to pay out?

Jamesw_2

I also got the same letter response yesterday after writing to the HSBC and also filling in a form they sent me which I again stated all the things which was mis-sold using the templates here on MSE.

Here is the letter I received:

pdf-archive.com/2014/05/04/doc040514

Please add the www. to the start of the above web address as this site wont let me post direct links.

Does anyone have pre 2005 HSBC CardGaurd letters as I am struggling to find mine or documents for the policy pre 2005?

Rotti

This week I received the refund of tax paid from HMRC and to put the cherry on the Bakewell I have just had a call from the Financial Ombudsman's office with whom I logged a complaint about non-payment from HSBC for the first 10 years of the policy. It seems they have been swamped with complaints and have now decided they WILL pay those 10 years so I would suggest anyone who has not already approached them should set the wheels in motion ASAP as the closing date for claims is the end of this month. Not only are they going to refund the premiums but also are adding 8% interest. That's what I call a result and they don't call me Rotti for nothing - dog with a bone and all that!:beer:

[Deleted User]

Oh Lord, my eyes...

Rotti

Should have gone to Specsavers!
Made it big as it needed to stand out - sorry if you've got a problem with that!