Advice on insurance I've been paying for the last 17 years 3 June 2020 at 11:25AM edited 3 June 2020 at 11:26AM in Reclaim PPI & other insurance 4 replies 201 views

horrgakx

I've been paying Barclays "Overdraft PPI" every month.  I called Barclays to ask what it was for but they told me I need to contact their underwriters (Monument Insurance) which I did, I was told it was for exactly that - overdraft protection - for me and a (now) ex-girlfriend, we split up in early 2003. They also had an old address for me which again I've not lived there since 2003. 
Although I've stopped the debits now I've not needed this insurance and I don't remember requesting it.  I'm aware the PPI claims thing has now finished but is there anything I can do?  I feel I've been paying for something completely unnecessary for a long time which is really frustrating.
Thanks in advance.

brettcta

You’re too late to complain about the PPI aspect of it. You not updating your address so that you’d receive statements and other correspondence isn’t the bank’s fault. The insurance would only have been charged if the account was overdrawn, so there’s that.

what can you do now? Take comfort in the fact you’re not paying it any more and move on with your life.

dunstonh

I feel I've been paying for something completely unnecessary for a long time which is really frustrating.

Indeed, you should be frustrated with yourself.   However, there is nothing you can do about it except to learn about managing your money better.  

Hasbeen

horrgakx said:

I've been paying Barclays "Overdraft PPI" every month.  I called Barclays to ask what it was for but they told me I need to contact their underwriters (Monument Insurance) which I did, I was told it was for exactly that - overdraft protection - for me and a (now) ex-girlfriend, we split up in early 2003. They also had an old address for me which again I've not lived there since 2003. 
Although I've stopped the debits now I've not needed this insurance and I don't remember requesting it.  I'm aware the PPI claims thing has now finished but is there anything I can do?  I feel I've been paying for something completely unnecessary for a long time which is really frustrating.
Thanks in advance.

You have being paying this every month for the past 17 years? and did not know what it was for.??? OK then.

Suggest you look through all your other payments going out for any other transactions you have ignored or do not know about.

The only thing you can do is manage your money better and keep your address up to date with all.

DCFC79

You can always try a complaint, cant guarantee it will get anywhere though.