VakıfBank Added Unauthorized Insurance To My Loan
On November 10, 2020, I took out a personal loan of ₺100,000 through internet banking at VakıfBank’s Van branch. During the loan process, without my knowledge or consent, a “Daima Güvende Personal Accident Insurance” policy (No. 120359***) and a life insurance policy costing around ₺1,100 were issued. Immediately after the loan was deposited into my account, ₺5,000 was automatically deducted for the Daima Güvende policy. However, the policy terms clearly state that it is not linked to the loan and that I have the right to withdraw or cancel it. When I tried to cancel the insurance, I contacted both VakıfBank and Türkiye Katılım Sigorta customer service, but both redirected me to the branch. Since I live in a different city, I cannot visit the branch. Customer representatives claimed that the policy could not be canceled because it was tied to the loan, even though the policy itself explicitly states that I have a right to cancel. Türkiye Katılım Sigorta, on the other hand, said that only VakıfBank could handle the cancellation but could not explain under which regulation this applied. I keep being redirected between the bank and the insurance company with no clear solution. My loan and insurance transactions are still ongoing, and I have not yet made the first installment payment. This ₺5,000 insurance fee was added without my consent, even though it was not part of the loan terms, leaving me financially wronged. I believe this entire process is unlawful and request that my grievance be resolved. I demand a refund of the ₺5,000 Daima Güvende Personal Accident Insurance fee from VakıfBank and Türkiye Katılım Sigorta.
