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teacake44 | 13:24 Wed 03rd Mar 2021 | Business & Finance
20 Answers
Just had mail from my bank saying that from the 1/5/21 Purchase protection insurance on card purchase will no longer be in force. Has this been in the pipeline for sometime, and has your bank cancelled it to? This is Santander.


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Nothing from my bank.

Is it a debit or credit card?
I did a quick
google and came up with nothing. Nationwide removed its hundred day post purchase damage insurance in 2019 but the loss or fraud at purchase stuff is still there
This must be a special insurance specific to your card provided by your bank.
What bank are you with?
Question Author
I only have a debit card, but I would think that this is aimed at credit card more so. It is Cahoot, On line banking only, but owned by Santander. Its not in any way a scam mail, because I can only access the mail by logging into my account.
Doh - Santander
This is an extra insurance perk offered by some card providers on some products. Nothing to do with Section 75 or Chargeback if anyone was worrying.

It is nothing to do with s.75 of the Consumer Credit Act which gives credit card holders protection in certain circumstances.
I've heard nothing from Nationwide and we both have accounts, debit cards and a credit card.
This from a couple of weeks ago, don't know if it's relevant? -
Question Author
I will look into that barry about it being special to my bank, but to be honest never bothered to read all the terms and conditions, and never buy high value items on the internet, were you may get scammed.
Cahoot closed their credit cards to new applicants in 2006 so you must have had it a long time
teacake, if you just use major stores you will not be scammed online.
You won't get scammed if you use a reputably site.

I mainly use the CC for large purchases....always on the internet. It gives you extra protection.
I think this is probably what they are cancelling:
Cover of goods paid for with the card against loss, theft or accidental damage, usually for up to 90 days, or three months, after purchase.
If you don't use the card for high value items it's not worth worrying about.
I would like to add that you should always use your credit card for purchases of goods and services over £100, even if you only use it to pay a small deposit. That way, if there is a a problem or the company goes bust you will usually get your money back from the credit card company. Makes no difference if you pay online or in person. Many holiday makers have been grateful for s.75 this last year with so many companies going bust
Question Author
Thanks for the link lie in king, seems to explain things. Don't have credit card Barry, and yes Major stores are the safe bet always.
Why not ask BBC4's Money Box programme they have Martin Lewis. This is nonsense they were discussing it this week ie the £100 limit. But this thing of yours smells like a scam my friend. Change banks.
dance to trance, it is not a scam, there is no reason to report it to Martin Lewis or change bank.
LIK has linked to Martin Lewis and the explanation behind Teacake's query.
//Why not ask BBC4's Money Box programme they have Martin Lewis. This is nonsense they were discussing it this week ie the £100 limit.//

Thats Paul lewis rather than Martin Lewis dance2trance. Both worth listning to though

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