Package bank account reclaim

Markcarter49

My bank have turned me down saying I have left it too long, apparently I should have claimed within six years of being told the holiday insurance rules were changed. Is this true? Or should I take it to the ombudsman?

dunstonh

Markcarter49 said:

My bank have turned me down saying I have left it too long, apparently I should have claimed within six years of being told the holiday insurance rules were changed. Is this true? Or should I take it to the ombudsman?

Yes, it is true.  Timebars exist in law and are replicated in financial services (but to a more consumer friendly level).   
The FOS cannot look at your complaint unless the timebar is being incorrectly applied (e.g. it was 5 years ago and not 6).

[Deleted User]

Markcarter49 said:

My bank have turned me down saying I have left it too long, apparently I should have claimed within six years of being told the holiday insurance rules were changed. Is this true? Or should I take it to the ombudsman?

There are 2 rules that count
6 years from opening the account
3 years from when you knew, or could reasonably have known, that you had a reason to complain

If the bank sends you a letter advising what the benefits are, the costs and any changes and advise on free accounts then that triggers the 3 year rule.