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Identity Fraud Protection Insurance

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Can anyone please advise me on whether or not it is worth paying out for Insurance against Identity Theft? I have recently cancelled my Barclaycards after 25+ years due to several issues/problems with them and have opened a new credit card account with Natwest where I bank. When validating the card over the 'phone I was offered this from an organisation called CPP (Card Protection Plan) as a safety feature at a cost of £79+ and said I'd consider it. I had been told in the conversation that I had a 14-day "cooling off" period during which I could cancel the protection with no cost. I was told to hang on at the end of the call and listen to a pre-recorded message outlining the T&Cs. In this I heard the price of £79+ broken down as something like £12 to the actual Insurance company and £67 to CPP and am now wondering:-

A) Is it worth paying for?

B) Can I go direct to the Insurance Co. and cut out the middle-man?

Am out of work (age 63) and very little income until State Pension in 2 years time so every penny helps! Any helpful advice would be much appreciated :confused:

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Hi Rafob,

 

This is just a big CON as far as I'm concerned. I wouldn't pay it in a million years and it seems the activation call is used to sell this unnecessary nonsense.

 

You are already protected if your card is used fraudulently, unless you have been negligent by keeping the card and PIN No. together.

 

If the a/c is used fraudulently without the card, you are also limited as regards liability.

 

Recent regulation changes have come in over the last month, forcing the banks, etc to return customers' money quickly after a suspected fraud incident. The bank should not now wait until they've finished their own inquiries, unless there is evidence that the customer was part of the fraud.

 

This so-called insurance from the bank is just another means of parting you from your money after frightening you about fraud.

 

Don't take it - that's my advice. :)

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Don't take it - that's my advice

 

And very good advice too spot on

 

PF


If I have been of help to you please feel free to click my scales to the left Thanks.:)

I have no legal training and the advice I offer is what I have learnt here and offered as a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner.

 

Finally if you succeed with your claim please consider a donation to consumer action group as those donations keep this site alive.

 

CARTER V Co-Op

BANK CHARGES

REFUNDED £3567

 

POMPEYFAITH V Co-Op PPI

OFFER MADE BUT REFUSED

ONGOING AND STILL ONGOING

NOW WITH THE OMBUDSMAN

 

R.I.P BOB aka ROOSTER-UK you have always been a Gent on these boards and you will be remembered for that.

 

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Thanks a lot slick132! I do appreciate your advice and will act on it. The trouble is these people trade on people's fears and probably exaggerate the dangers. Also many thanks for responding so quickly!:)

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Absolutely,

 

They are sewing seeds of doubt and then reaping the rewards. :eek:

 

:)


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                                            Have we helped you ...?  Please Donate button to the Consumer Action Group

 

Please give something if you can. We all give our time free of charge but the site has bills to pay.

 

Thanks !:-)

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