Credit card payment protection

Discussion in 'Payment Protection Insurance claims' started by quinerty, May 15, 2012.

  1. quinerty

    quinerty Registered User

    Posts:
    20
    We are currently paying just over €15 per month Payment Protection Insurance on our credit card with Bank of Ireland (current balance €2,200). We have the card over 10 years now but do not recall opting for the insurance when we applied for the card. I'm just wondering where we stand on this. I note that UK banks have refunded customers in similar situations and am wondering if this is happening here?

    On the advise of the NCA we contacted BOI to ask them for a copy of our credit card agreement and a copy of the payment protection policy. They said they would send us out the credit card agreement but didn't seem to know what we were referring to when we asked about the payment protection policy???

    The NCA advice was:
    "If you think that you were not made sufficiently aware of the terms and conditions of the policy at the time of sale, you did not agree to this service, or you were not an eligible candidate for PPI, you may wish to consider making a complaint, seeking a refund of the policy premiums. Please note we cannot advice on any possible outcome of the complaint."

    We are waiting on the documentation from BOI to see what that holds but as a rule PPI is not something we would have opted for. Will be interesting to see the documentation.....

    Just wondering if anyone else is in the same situation?
     
  2. Gerry Canning

    Gerry Canning Frequent Poster

    Posts:
    2,514
    Have you cancelled the ppi yet ?
    See ongoing on ppi.
     
  3. kojak

    kojak Frequent Poster

    Posts:
    38
    Hi,

    Do you mind me asking how you got on with bank of ireland and the credit card PPI ?
     
  4. dereko1969

    dereko1969 Frequent Poster

    Posts:
    2,496
    My girlfriend was recently sent a letter from BOI stating that there was an issue since 2009 with the sale of Payment Protection Insurance for her credit card (as it was basically covered by law anyway there was no need for her to have had it) but she is obliged to give a reason as to why she should be refunded.
    Is this another typical Irish solution to an Irish problem?
    Should there not be a blanket refund to those who had purchased this useless insurance?
    Can anyone advise what type of response she should include on the form to ensure she gets the refund?
     
  5. Gerry Canning

    Gerry Canning Frequent Poster

    Posts:
    2,514
    Be very aware Card Protection Policies are not PPI policies. Payment Protection (PPI) is a very much more serious miss-selling that Banks are largely getting away with.
    .................................................................................

    On Card Protection Policies .................you now understand you neither require nor needed this Card Protection Policy and would not have purchased had you realised you did not need it and that you understood it was a requirement (if that was the case) ..
    Kojak, please read the ongoing on the PPI miss-selling.