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Advice on insurance I've been paying for the last 17 years

horrgakx
horrgakx Posts: 8 Forumite
Part of the Furniture Combo Breaker
edited 3 June 2020 at 12:26PM in Reclaim PPI & other insurance
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.

Comments

  • brettcta
    brettcta Posts: 4,693 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    edited 3 June 2020 at 2:05PM
    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.
    helpful tips
    it's spelt d-e-f-i-n-i-t-e-l-y
    there - 'in or at that place'
    their - 'owned by them'
    they're - 'they are'
    it's bought not brought (i just bought my chicken a suit from that new shop for £6.34)
  • dunstonh
    dunstonh Posts: 119,888 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    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.  

    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Hasbeen
    Hasbeen Posts: 4,404 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    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.
    The world is not ruined by the wickedness of the wicked, but by the weakness of the good. Napoleon
  • DCFC79
    DCFC79 Posts: 40,641 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    You can always try a complaint, cant guarantee it will get anywhere though.
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