Is it necessary to take out “means of payment” insurance?

Often offered when opening a bank account, means of payment insurance covers the customer against fraudulent use of his card or checkbook. If such insurance could be used fifteen years ago, a 2009 law makes it almost useless today. This law in effect requires banks to reimburse their customers in full in the event of payment fraud.

“Bank card fraud can be illustrated by code theft at retailers or online, for example, points out Adeline Fortesa, LeLynx’s commercial director. In this case, either the bank is responsible and will compensate the user, or the consumer is already protected from piracy. This insurance is therefore quite useless for a normal use of its means of payment. Only a serious misdemeanor committed by the customer, such as giving his code to a third party, is liable. »

The insurance company still needs to prove it.

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Does the proliferation of Internet fraud imply the usefulness of this insurance? Again, the answer is no, because the bank must, in all cases, repay its customers.

“Sometimes you buy a consumer good that you don’t pay to the right person, reports Guillaume Aksil, associate lawyer at Lincoln Avocats-Conseils. A pirated site came to intervene at the time of presentation of the invoice for payment and it is to him that the buyer makes a transfer. How could he have known? Insurance sometimes goes back to reimbursement… but they end up submitting to it if the naked customer does not drop it, because they are obliged to do so. »

The only real interest of this means of payment insurance, the part of its guarantee attached to the theft or loss of identity documents (and sometimes even keys). “And again, points out Luka Payras, of Selectra, a number of home insurance companies already cover these concerns. But it is true that some exclude a flight outside the house… »

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