Sentinel (AI Scheme) compensation help guide

t.i.c.h.

Just received a cheque for £288 and it only took about 4 weeks.

Ian73

To all those who have had a cheque, what did you put on yor claim form?
I have the form at home,and for the life of me i can't remember having this product.
Do i put something along the lines of " I would like to claim for a product that i was mis-sold & did'nt need" ?

Cheers

t.i.c.h.

I used the MSE template for the £5000 option but added that since this was about my credit limit for the card I knew that if a thief got hold of it I'd be covered as they could only max out the card.

ShowUsTheMoney

Anyone help with what to put on form if you have no idea ?

trixiepix

If you search for 'AI template' on here it gives you 2 statements to copy onto the form (whichever is relevant to your circumstances) - I literally copied both statements word for word and 4 weeks later had the cheque for £377!

ShowUsTheMoney

Thanks I am going to use both statements. Worth a shot. THANK YOU

medindexer

What are people doing about getting alternative cover for cards? At the moment, I suddenly have no coverage. After claiming and getting paid or not paid can one rejoin. Solutions please!

FunkyD

Hi All,

I have been reading this forum since I received the claim form and saw Martin talking about it on GMB (Good Morning Britain) a good few weeks ago. Like everybody - I have had a couple of questions which, having now having successfully received my cheque today, I can answer and I hope it helps more of you out there, so here goes:

Q1) Which template do I use?
A1) I read that if you rang AI from the number on the letter, they would tell you which cover you had and therefore you could choose the correct template from the two that Martin had prepared. AI couldn't (or wouldn't) tell me what cover I had had, but could only confirm the dates I had the product which, in my case, was from 2007 to 2013 (2013 is when the cover was removed from the Sentinel product for everyone) for a Capital One Card I had. So all I wrote was this (and it worked):

"The product said it'd cover me for any unauthorised transactions if my card was lost or stolen. I didn't need this element of the product’s cover because my bank/card issuer (delete as appropriate) covers me for any transactions that may be made frauduently."

Q2) How long does it take to hear back about my claim?
A2) I posted my claim form with the above written in it on September 11th and I got my cheque today (October 8th), so just under 4 weeks - although I have heard/read others getting theirs back quicker.

Q3) How much will I get?
A3) Tricky this one - but I think the general rule of thumb is you get back whatever you paid into the scheme plus 8% interest for
every year the period your product ran for. Please don't take this as concrete - as there is an official wording that, to me, is a
little confusing, but this is what my letter states: "Gross interest is calculated as interest on payments made since 14th January
2005 at 8% simple per annum (calculated from the date of payment to the date falling 6 weeks after the Scheme Effective Date (28th September 2015) less interest on payments received since 14th January 2005 at 8% simple per annum (calculated from the date of payment to the date falling 6 weeks after the Scheme Effective Date (28th September 2015)." For those cleverer than me - that might explain it more fully. Now as with anything in this country - you do have to pay tax on what you get - which the letter states is "Tax deducted on interest at 20%". So even though you get some interest on what you paid in - you lose 20% of it to the Tax Man. So all in all - I received a little over £238! - which was more than I was expecting. :-)

Q4) What do I do for claims prior to 2005?
A4) This didn't apply to me, but I believe you contact whoever you paid the cover with directly and looking at other posts - it seems
to be quite a successful and worthwhile process if you stick with it.

Q5) I have no idea what dates I paid into the AI Scheme - what do I do?
A5) Ring Sentinel on the number on the top of the letter - they can - and should tell you. It doesn't matter too much as they will
calculate what they owe you from 2005 (or whenever you started paying into Sentinel) to 2013 once you return the form.

I hope this helps answer a few questions and good luck with getting your hard earned cash back. Thanks again to Martin and MSE for the advice and tomorrow I'm depositing my cheque into my account with a smile on my face! Happy Days!!

Hezzawithkids

Got my cheque for £79 today - not a fortune but a nice boost to my bank balance and should cover off an Xmas pressie or two. Not bad for 5 minutes work and a product I only vaguely remember having taken out once.

DG1947

My experience of claiming has been one of complete frustration. 5 months of phone calls and correspondence with AI Scheme Limited before they decided it was Lloyds Banks problem.
3 telephone calls with Lloyds (all recorded)-the last ending less than 1 hour ago, which was interspersed with 3 requests to be put on hold while they checked things. The stumbling block has been being I could not remember the post codes of 3 London addresses I lived in 12-15 years ago! (However told there were 6 payments and then the policy was cancelled on a previous call. Do not remember doing that at all!)
The last call today then told me I had made no payments at all!- Then it focused on the post code for one address, which Lloyds seemed unable to track-I turned it up in 10 seconds on my computer via Google. Then they wanted the house number-I queried that saying they had just told me they only needed the postcode-" oh I should have told you we needed that as well" was the response! When I said I could not supply it as I had forgotten-I was not there long- I was told my claim was refused
All this is despite I used at a Lloyds bank in the area at the time and always updated them on my address in case of loss of debit and credit cards!
Finally after they refused my claim. I asked for details of the ombudsman. They could not even give me that!:mad:
The only bit of satisfaction here is that Lloyds have not been my bank for some time now.
So I await their refusal letter and will go to the ombudsman-thanks to the useful form and claim details I quickly found here on "money saving"