Card and identity protection policyholders invited to claim compensation

Published: 03/02/2014   Last Modified : 03/02/2014

If you bought a card and/or identity protection policy from a bank, credit card issuer or a firm called CPP, you may receive a letter and compensation claim form(s). Find out whether you can claim compensation and how to submit a claim.

Seven million card and identity protection policyholders will receive a letter from Card Protection Plan Limited (CPP) during February 2014. This will include a compensation claim form, or two forms if you purchased both the card and identity protection policies.

The card and identity protection policies were often sold when customers called to register or activate a debit or credit card. You can see a list of the banks and credit card issuers that have agreed to the compensation scheme below.

What you have to do next

Step 1: Consider whether your policy was mis-sold

If you receive a letter from CPP and claim form(s) in February 2014 you should consider whether your policy was mis-sold and whether you want to claim compensation.

Some examples of when a policy might have been mis-sold are included in the claim form as a guide to completing it.

You will not have to use and pay a company to claim compensation on your behalf. You should complete the form yourself, following the guidance on the claim form.

If you claim compensation you will have cancelled your policy, so you will lose the benefits and protection it provides.

If you are still a policyholder and find some or all of the features useful, before you claim compensation you should think carefully about whether you want to keep the policy. Your existing policy will continue if you decide not to make a claim for compensation.

Step 2: Complete the claim form(s)

If you believe you were mis-sold a card and/or identity protection policy, you should complete the relevant claim form(s). This includes section B of the form, where you have to write a short statement explaining why you believe you were mis-sold your policy.

You should then sign, date and return the form(s) using the envelope provided by CPP. The original form has to be used as photocopies will not be accepted.

You do not have to provide any documentary evidence to support your claim.

Step 3: Submit your claim before the deadline

We recommend that you return your claim form(s) as soon as possible. The deadline for claim forms to be received by the CPP Scheme Administrator is 30 August 2014.

This will be your only chance to claim compensation for CPP card and/or identity protection policies sold and renewed since 14 January 2005.

If your claim form(s) are not received by 30 August 2014 you will lose your right to make a claim, or complain to the Financial Ombudsman Service, even if you think your policy was mis-sold.

This is because the compensation scheme that was voted for by a majority of policyholders provides full and final settlement of all claims for CPP card and/or identity protection policies sold and renewed since 14 January 2005.

However, if you believe your compensation claim was not handled correctly under the scheme, you would be able to complain to the Financial Ombudsman Service on that point. 

Step 4: Find out why you have not received a claim form

If you think you have a card and/or identity protection policy from CPP, and you have not received a claim form(s) by the end of February 2014, you should contact CPP on 0800 083 4393 (outside the UK call +44 1144 520 800).

Why policyholders may be entitled to compensation

Policyholders bought and renewed about 23 million policies from CPP, a bank or credit card issuer.

We found widespread mis-selling of card protection and identity protection policies which were provided by CPP and sold by several banks, credit card issuers and directly by the firm. We fined CPP £10.5m for mis-selling the products, as announced on 15 November 2012.

You may be entitled to compensation if you were given misleading or unclear information when you were sold your card and/or identity protection policy, and you purchased the policy based on this information.

If you are entitled to compensation you will have the premiums you have paid since 14 January 2005 returned to you, less any sums paid out under the policy, plus interest. This date is used because it is when we started regulating insurance products like these.

You can get further information about the scheme by calling the dedicated helpline on 0800 083 4393 (outside the UK call +44 1144 520 800) or on

Banks and credit card issuers in the scheme

  • Bank of Scotland Plc (part of Lloyds Banking Group)
  • Barclays Bank Plc
  • Canada Square Operations Limited (formerly Egg Banking Plc)
  • Capital One (Europe) Plc
  • Clydesdale Bank Plc (part of National Australia Group Europe)
  • Home Retail Group Insurance Services Limited
  • HSBC Bank Plc
  • MBNA Limited
  • Morgan Stanley Bank International Limited
  • Nationwide Building Society
  • Santander UK Plc
  • The Royal Bank of Scotland Plc
  • Tesco Personal Finance Plc

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CPP compensation scheme

More information about the scheme