Payment Protection Insurance
Important update - deadline to make a PPI complaint
The Financial Conduct Authority (FCA) has set a deadline of 29 August 2019, all PPI complaints need to have been received by Ikano Bank by this date. If we receive your complaint after this date you will lose your right to have your complaint assessed.
What is Payment Protection Insurance (PPI)?
Payment Protection Insurance (PPI) is an insurance product that enables customers to insure monthly repayments of credit products in the event they become ill or disabled, lose a job or face other circumstances that may prevent them from earning income to make their monthly payments.
Payment Protection Insurance does not extend to policies that cover you in the event of death or critical illness. These are classed as Life or Critical Illness policies and do not offer the same cover as a Payment Protection Insurance.
An easy way to check if you have taken out PPI with any of our loan or store card products is to check your statements for evidence of premiums paid. Also, you may have policy booklets and loan or credit agreements that show information on PPI.
If you have or had one of the store cards or loans with us listed below, you may have taken out PPI.
Please note we did not engage in any sales of new PPI policies after 23rd March 2009