Wednesday, October 08, 2008

Just a small-time renegade vigilante

I just recieved a $1,839.02 adjustment to my VISA bill today for simply writing the following letter.

You too may want check if you been paying for this optional service.


C/O Lisa P.
Canada Life Insurance
Balance Protector Department
Fax: (416) 552-6633

Dear Lisa, September 4, 2008

I am writing to you to request a full refund of my Balance Protector Insurance on my RBC Visa card. Without my clear understanding of what this insurance is, or that is was optional, I have been paying for it since my very first statement from my very first Visa card in 2001. Since the insurance charge shows up alongside the interest charges on my monthly bill, I had no reason to question it, or to consider it a hidden charge.

It wasn’t until after a self-imposed Visa ban last month that I noticed a continuing charge to my Visa. The Balance Protector Insurance. I phoned Visa today, to find out what it was. To my horror, I was told it is an optional service that apparently I verbally agreed to sign up for seven years ago. There is, however, no signed contract and I have no recollection of verbally agreeing to this insurance.

In 2007 alone, I paid $424.47 toward the Balance Protector Insurance. To think of how much it has cost me since its instigation– with no return on this ‘investment’ – I can’t help but feel betrayed by my bank, which has otherwise treated me wonderfully. By my estimation, I have been charged over $2,000 for services I do not want on account of this misunderstanding.

I therefore request that this hidden charge be retroactively revoked in its entirety.

Thank you very much for your consideration and attention to my request. I look forward to your response and encourage you to contact me if you have any further questions.



Ms. Jody O. Lightfoot