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PPI Refund and Cancellation

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  • 12-11-2015 4:54pm
    #1
    Swampyjocks
    Registered Users Posts: 23 ✭


    Hi,
    I returned my PPI refund and cancellation letter during the summer. I received a significantly small amount of compensation/refund. However, the PPI company continues to withdraw funds from my credit card account. 

    I tried the Customer Services helpline but hung up after 16mins on hold. 

    Can somebody please address this with urgency as PPI company is withdrawing €15-30 per month from my account?


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    #2
    Bank of Ireland: Sarah
    Closed Accounts Posts: 1,640 ✭✭✭Bank of Ireland: Sarah


    Swampyjocks wrote: »
    Hi,
    I returned my PPI refund and cancellation letter during the summer. I received a significantly small amount of compensation/refund. However, the PPI company continues to withdraw funds from my credit card account. 

    I tried the Customer Services helpline but hung up after 16mins on hold. 

    Can somebody please address this with urgency as PPI company is withdrawing €15-30 per month from my account?
    Hi, 

    Thanks for contacting us here on Boards. 

    Just to clarify that Payment Protection Policy (PPI) and Card Protection Policy (CPP) are two separate insurances. Notification was issued this year by Bank of Ireland to some customers who may be due a refund for amounts paid on credit cards to Card Protection (CPP). 

    Refunds for CPP included the following:
    • All premiums paid by you for the policy since 1st August 2006
    • Less any successful claims you had under the policy or money refunded to you in relation to a previous Card Protection complaint
    • Plus fair value interest. Bank of Ireland are giving you a fair value interest payment to compensate you for the lost use of your funds during your policy period

    The average premium cost €30 per annum.

    Payment Protection Policy (PPI) would be a monthly charge on a credit card account and should you wish to cancel PPI on your credit card account, please send your signed instruction including your credit card number to the following address:

    Clerical, Bank of Ireland, Clerical Department, PO Box 1102, Dublin 2.

    If you need further information, please call our Credit Card team on 0818 251 251 and a representative will be happy to help you. 

    Thanks,
    Sarah


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