Sentinel (AI Scheme) compensation help guide

[Deleted User]

I don't recommend anyone go to the Ombudsman over the lack of a breakdown of the interest calculation! The Ombudsman cannot award you any more money unless the calculations are somehow wrong. All you will succeed in doing is delay receiving the money.

Interest is 8% simple, not compound, so £75 sounds right.

If however, you have documentary proof that you paid more than is being offered then that significantly changes the situation.

mum2one

We've just had a 2nd cheque for nearly £300 I know my parents were with them pre 2005 which would be right have to say it was a nice surprise x

peteduk

Hello
I contacted Credit Card Sentinel today about their goodwill payment. They said it was Goodwill because banks were not liable for credit card fraud pre 2005. Doesn't sound right to me but I can't find an applicable reference by searching.
And, other posts here report getting paid out for pre 2005 claims including interest.
What do you think? I calculate 8% a year on £89 for 10 years is £71.
Is that worth contacting the Ombudsman for? IE Am I likely to win?
Thank you for your advice

CAROLEANN21

I received payment from Barclaycard pre 2005 plus interest. I too would like to know how they worked out the interest as even working on the basis that it's been paid as simple interest I can't get the same figures as they do. They won't even give me a breakdown of how they arrived at their figure. Personally I think they're hiding the fact that it's not being calculated properly but then what do I know? I WILL contact the ombudsman as I think it's unfair practice not to give full information when requested.

[Deleted User]

CAROLEANN21 wrote: »

Personally I think they're hiding the fact that it's not being calculated properly

Any such "conspiracy" would be quickly and easily revealed and would cause far more trouble for the financial institution concerned than any (temporary) benefits.

While I agree you deserve to have a full breakdown of how they have calculated your restitution, referring your complaint to the Ombudsman will only delay the payment of your redress.

Cash the cheque and then put in a formal complaint that they have failed to provide any breakdown of the calculation. Then, if they subsequently still refuse to co-operate, you can refer that complaint to the Ombudsman. If the Ombudsman finds the calculation was wrong (unlikely), you'll still be paid any amount owing but will already have had the main body of cash.

You won't get any extra if this turns out to be a "goodwill" payment.

JonEBoy

Just remembered that I posted in October that I was claiming and would update any progress. A little late perhaps, but in November I received a cheque for £77.85.

Thanks for the information and help from everyone on these boards.

Jon :beer:

marybishop

I completed the form saying I knew we'd been sold this via our bank but had no records of when and how much, etc - it was literally as basic as that! That was about two weeks ago.


Today a cheque arrived for £303!


Thanks Martin!!

Yasminakash

Hi All
I haven't used this site for a while, so have forgotten how to use it. I need help with Al Scheme Limited's letter.
My hubby re'd a letter. He vaguely remember having one of these products in the past. He can't remember the card issuer or the Bank name. Therefore we don't know what to write to section B - Why you Want to be considered for compensation?
Could you help me please? I tried reading all the posts in the forum. I'm very confused.
Thanks

marybishop

Are you completing the form that's part of the letter they sent? If they've sent you a communication then you must have been sold a product. I knew which bank it was but had no idea when it was sold and how long for so I simply put that. It obviously worked as I got a cheque!

redundantmanager

After watching the show I contacted the AI scheme as I had paid for sentinel card insurance through my credit card since 1996. I was told that they would send a claim form out straight away. Great I thought. . How easy! After 8 days nothing came so I rang again and was told that I could not claim as my bank, Yorkshire bank was not in the scheme and I should contact my bank. So, I wrote to yorkshire bank using the template letter on here. In the meantime I got a letter from AI confirming that I was not eligible to claim as my bank was not a member of the scheme. I received a letter from Yorkshire bank telling me they will investigate my claim prior to 2005 but I should contact the AI scheme for a claim form for 2005-2013... here we go again!! On the bottom of the letter from the bank it said Yorkshire bank and clysedale bank are trading names of clysedale bank plc! Bingo! They are in the scheme! I phoned AI yet again to ask for a claim for and that my bank is part of clysedale who are in the scheme. My response this time was that yes the bank is in the scheme but I need proof that I purchased the product through Yorkshire bank! I need a certificate to say this?! What?! They have all my details, know the exact date the product was purchased but still need proof! I really don't think the advisors understand themselves what they are doing. This was last week, I've given up for now; waiting to see what the bank says....