The FCA has published a new webpage reminding those who bought certain card security products of the deadline to claim compensation. Anyone who received an AI Scheme Limited compensation claim pack in the post in August or September last year who wishes to claim compensation must return their completed form by 18 March 2016.
The scheme was voluntarily set up by Affinion International Limited and eleven card issuers to provide redress to those who bought the products, which included insurance to cover fraudulent use if the card was lost or stolen. This was in certain respects unnecessary because the customer’s bank or card issuer was typically responsible for any transactions after the cards were reported as lost or stolen and, before reporting the matter, customers were only liable for unauthorised transactions in limited circumstances.
Forms received after the deadline will not be considered so it is important that people who wish to seek compensation do so without delay. The FCA recommends that completed claim forms are posted well before the deadline.