Can u help with this query please?

Question

I have cancelled my car insurance, to which i'm due £25 back. It's not much, but thats besides the point. However the insurer's said the monies will be deposited back into the account it came from.

This is where the problem lies ; i think i have shut down that bank account, and have fallen out with the bank. So i will not receive that money.

~The insurer's tell me the bank will forward it on to me. Well how can they when the bank don't have my new address, and i don't particular want to contact that bank? The insurer's won't tell me which account it came from, so i will not receive that money will I?

Do i hav no choice as such?

why can't they send it to me in a cheque form?

surely i have rights?

Answer 1

Try to have as much information as you could perhaps is one of the options,however it is labor consuming,here is the place i have ever had good experience with.http://car-insurance.bestips.info/car-in...

Answer 2

You have a fallout with the bank, but can you ask the bank? You still have a right to the money. It is yours.

Answer 3

As Glencat says I think you have been unfortunate enough to get caught up in the anti fraud and Money Laundering systems.

This isn't really the companies fault, they aren't being 'awkward' they are just complying with the law.

It's a well known way of laundering money to pay for insurance from one bank a/c ...cancel it ...and then get the 'refund' paid back into a different account.

This is exactly what you are asking them to do, so even though for 25 quid it should be obvious you aren't money laundering this is why you are having hassle.

Of course you have rights and ultimately you WILL get the money back, it's just with how much hassle that is the question.

One way to solve this is to get your point across to someone who has the authority (the poor clerk who answers the 'phone won't be allowed) to override the normal procedures. For a £25 refund I'm sure they will.

I'd say your best bet is to go via the company's formal complaints procedure, the company is obliged by law to tell you how to do this and they have to respond very quickly by law as well.

I bet you that the complaints office will take one look at your problem and say... we'll send you a cheque. It's just too much hassle for them not too.

Answer 4

some fraudsters no the floor limits of some brokers/insurers and will pay for their insurance with stolen credit cards and then cancel the policy to receive a cheque which they can then cash. paying by card and then cancelling to receive a cheque is also a way of laundering money!

Answer 5

Like all insurance companies they take your money easily enough but when it comes to paying out or returning money they come up with lots of excuses.

I suppose if the money came from a credit card the money needs to go back to that credit card company as they actually took out the insurance on your behalf. Get them to pay the money back to where it came from with the full details and then claim it from them. If it was acheque you should have no problem.

They will probably put it down to anti-money laundering. You could take out a policy and then cancel it just to get the money back, hardly likely but you know what insutitutions are like.

Answer 6

tell them you no longer have a bank account and you want it in a cheque if they wont then tell them you are going to citzens advice dont let the b*****ds win they have to give you your money back