In the world of finance, insurance is more than important. Indeed, when it comes to financing well, it is better to be well covered for possible fraud. It is with this in mind that means of payment insurance exists. Means of payment insurance is insurance that covers you when your bank card or chequebook are victims of fraudulent use. To subscribe to this insurance, you must understand the procedure as well as the guarantees available to you in addition to the means of compensation available to you.
Subscribe to means of payment insurance
Generally, means of payment insurance is offered to you by your bank when you apply for a bank card. As a result, from this insurance subscription date, you have 14 days to check whether your subscription is effective. And this, to avoid multi-insurance. Before the end of this date, you also have the option of waiving the insurance taken out. To renounce the means of payment insurance, certain procedures and conditions must be followed. These procedures and procedures are available and should be read in the information notice received when registering. However, it should be noted that with a free bank card, as is the case with the offers of online banks, means of payment insurance is often less well provided than with a paid card.
In addition, when you make your subscription online, you also have the same time as the physical subscription, that is to say, 14 days to verify and also to cancel the subscription.
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The means of payment insurance guarantees
The guarantees of the means of payment insurance are not fixed. They vary according to the banks and therefore according to the contracts offered by the bank. However, in general, contracts give certain frequent guarantees.
Indeed, there is a guarantee of the fraudulent use of the means of payment. In this case, the law obliges the bank to make a refund of the amount that has been stolen and this with the condition that your card has been used without your consent in situations such as online purchase, loss of CB, the stolen card or even fraud on your card, among others. However, a certain amount may be payable by you despite the bank having refunded a large amount of the stolen amount. In this case, it is the insurance which intervenes to supplement this amount. Among the guarantees, there is also the loss or theft of your identity papers or even your keys. In this case, the insurance guarantees the payment of the costs of replacing your keys or your identity papers. There is also another guarantee that is often offered. This is a reimbursement for the theft of cash withdrawn from the bank. In this case, the insurance intervenes directly on this inconvenience caused.
Compensation for your insurance
For the compensation of the means of payment insurance, a procedure must be carried out. The steps to take are available in the information documents of your contract that you received when you took out the insurance.
To do this, you have a duty to report the event to your manager or your insurer as soon as possible, which is five days after the incident or two days if you are the victim of theft.