How to apply for CPP compensation before Saturday's deadline
Millions of people could still be owed compensation after they were mis-sold credit card and identity fraud protection insurance.
Seven million people have been sent letters informing them they are eligible to apply for compensation but it's understood just 1.8 million people have made a claim.
And with the deadline for applications on Saturday, customers are running the risk of missing out on hundreds of pounds.
Here is a guide on how you can apply before Saturday.
What is CPP and why are customers due compensation?
Card Protection Plan (CPP) sold card and identity fraud protection insurance to millions of customers directly or through banks.
Card protection insurance cost around £30 a year and ID protection was £60 a year.
The Financial Conduct Authority ruled that many of these policies were mis-sold.
It said CPP misled customers by exaggerating the risks of the consequences of not having the protection.
How do I know if I am suitable for compensation?
At least 13 banks and card issuers were involved in selling the CPP insurance. Customers who purchased card protection or identity protection from the following firms could be in line for compensation.
The following high street banks and credit card companies have agreed to be part of the compensation 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
What if I purchased my policy before January 14th 2005?
If you took out your policy before January 14th 2005 you will not receive any compensation.
However, if you renewed it after the date you may be entitled to compensation.
How should I apply?
You should have received a letter with a claim form in February.
Separate letters would have been sent if you were mis-sold both card and identity protection.
You must return the completed original form in the envelope provided before Saturday to claim.
If you have been sent two letters, be sure to fill both out and send them back.
An example of the letter is seen below.
How do I need to fill in the form?
Black ink must be used with capital letters only.
The key section is why you want to be considered for compensation.
MoneySavingExpert.com founder Martin Lewis has published a useful guide to help you filling out the form.
Do I need any other evidence to support my claim?
No, just the original claim form will be sufficient.
I didn't get a form - what should I do?
If you have lost the form or did not receive one in the first place, you can request another one by calling 0800 083 4393.
Alternatively, you can fill in your name and claim reference number on a request page on the CPP Redress Scheme website and a form should arrive within 48 hours.
How much could I receive?
The average repayment has been £185 - but some could be entitled to hundreds more.
You will receive a cheque for money paid towards a policy since January 14th 2005.
Some 8% interest will be paid on top of what has been spent on insurance.
Will I have to pay tax on my compensation?
You will be taxed at 20% on the interest earned.
Will the compensation process cost me anything?
No - the process is free.
Is this redress scheme anything to do with Payment Protection Insurance (PPI)?
No - it has nothing to do with PPI.