HSBC CardGuard


What is CardGuard?

HSBC CardGuard is an optional protection product that provides assistance and cover for your debit and credit cards, store cards, membership cards and some of your belongings, should they be lost or stolen. Although this product is no longer on sale to new customers, customers may still hold an active policy. A typical policy includes:

  • The facility to cancel lost or stolen cards and order replacements in one phone call
  • Replacing locks and keys if your keys are lost or stolen (this includes car hire/travel expenses, costs of vehicle immobilisers or alarms being reset and costs of replacing vehicle infrared handsets), providing loss or theft is reported within 24 hours
  • Emergency cash advance, replacement travel ticket advance and hotel bill advance. You must be away from home when your cards are lost or stolen to be eligible for replacement travel tickets and emergency cash advances
  • Replacement passport and driving licence. You must be abroad when your passport or driving licence are lost or stolen to be eligible for replacements
  • Replacement of lost handbag or wallet. You must be away from home when your handbag or wallet are lost or stolen to be eligible for replacements and the loss or theft must be reported to the police as soon as possible
  • Any cash that is lost or stolen along with any cards which are lost or stolen. You must be abroad when your cash is lost or stolen to be eligible to claim on the cover and the loss or theft must be reported to the police as soon as possible
  • The cost of retrieving lost or stolen personal items. You must be away from home when your personal items are lost or stolen to be eligible to claim on the cover and this does not cover the cost of replacing lost items which cannot be returned

Who are CPP and what has happened?

Card Protection Plan Limited (CPP) administered the CardGuard protection policy on behalf of HSBC. CardGuard is not a Payment Protection Policy (PPI).

The FCA has confirmed that some policies may have been mis-sold.

The FCA has undertaken a review of CPP's sales practices of card protection and identity theft insurance products. This has resulted in the FCA fining CPP and a customer redress programme being set up.

In most circumstances a customer would not be asked to pay for any fraud committed on their cards. In explaining the Card Protection product offered by CPP the fraud protection information may have been misleading or overstated. Examples of this included;

  • Some more recent policies provided cover for up to £100,000 of unauthorised transactions that occur after you inform your bank or card issuer that a card was lost or stolen

    However, you did not need this cover, as your bank or card issuer takes responsibility for any transactions after you tell them your card has been lost or stolen
  • Some more recent policies offered cover for you for up to £5,000 of unauthorised transactions that occur before you inform your bank or card issuer that a card was lost or stolen.

    However, CPP did not fully explain that you are only liable for unauthorised transactions in limited circumstances, as each of your bank or card issuers will usually cover you for anything over the first £50 of those transactions.

CPP agreed with the FCA, to proactively contact customers whose policies may have been miss-sold to them. The focus of this exercise is for policies which have been sold or renewed since 14 January 2005.

Do I need to take any action?

CPP will write to all customers affected with details of the proposed compensation scheme (over a period of 3 weeks) from 10 February 2014. If you believe you are affected but have not received a letter by 20 March 2014 please contact CPP on 08000 834 393

Any other concerns regarding a CPP policy purchased from HSBC but not covered under the CPP compensation scheme above can be raised by writing to:

PO Box 314
DL98 1AG

Please provide full details of your concerns. Please also inform us of any cards you registered with the service in the past, claims made on the policy and any use of the 'one call' service to notify card companies of your cards being lost/stolen. If we have insufficient information we may send you a questionnaire. Although it is not compulsory for you to complete and return the questionnaire, by doing so it will assist us to better understand your complaint and therefore respond efficiently and quickly.

Claims Management Companies

If you feel you need to make a complaint, we would like to stress that there is no need to use a claims management company. While you are of course free to do so, the claims management companies (CMC) usually take a fee or percentage of any compensation you are paid.

If you contact us direct we will assess your complaint in exactly the same way that we treat complaints sent in by a CMC and you won't have to pay them a fee or any percentage if we do end up compensating you.

For independent guidance on how CMCs work visit Which?.

How long will I have to wait before I receive a response?

If your complaint is about a policy that is covered by the CPP compensation scheme, this will be dealt with by the scheme and you will receive details of the timescales involved from them. Please be aware that the CPP compensation scheme is not bound by the requirement to respond within eight weeks, although they will process your complaint as quickly as they can.

Details regarding the handling of complaints relating to CPP are available at

For any other complaint, we expect to resolve your complaint within eight weeks. In any event we will be in touch within eight weeks to update you on our investigation. If you have not received a reply from us within eight weeks of raising your complaint, you have the right to refer your case to the Financial Ombudsman Service.

Frequently asked questions

To make the whole process as straightforward as we can, we've listed below some frequently asked questions about CPP and CardGuard and further independent sources of information for you if you have any further questions.

Q: What happens to my policy?
Q:If I didn't vote can I still claim compensation?
Q: When will I get my money back?
Q: I have seen in the media that I could be entitled to a refund of my Card Protection premiums but I haven't had a letter from CPP, what do I need to do?
Q: What else do I need to know about making complaints?
Q: I would like to complain about a CardGuard policy that was sold to me in the past, what do I need to do?
Q: A claims management company has offered to handle my complaint for me. What should I do?
Q: I cancelled my policy early, can I still make a complaint about CardGuard?
Q: What can I do if I am dissatisfied with your decision?

Do you have a question?

Sorry, our 'Virtual assistant' only works if you have javascript enabled. If you have a question for us and can't view this tool, please call us on 08457 404 404. Lines are open 8am to 10pm everyday.

Calls may be monitored or recorded for quality and training purposes.

Need to speak to us?

Give our friendly team a call on:

08457 404 404

Textphone 18001 08457 125 563
Lines are open from 8am to 8pm every day except for Christmas Day, Boxing Day and New Year's Day. Calls may be monitored or recorded.

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