We delve into the RBC Credit Card Purchase Security Claim Form, exploring its significance, the process involved, and how it can help you safeguard your purchases.
In an age where financial transactions have become increasingly digital, credit cards have become an indispensable tool for consumers.
With the convenience of making purchases with a mere swipe or tap, credit cards offer a wide array of benefits, including purchase security. One prominent financial institution that provides this feature is the Royal Bank of Canada (RBC).
RBC Credit Card Purchase Security Claim
This is a benefit that helps to protect your purchases from accidental loss, damage, or theft for up to 90 days from the date of purchase.
This coverage is provided by RBC Insurance Company of Canada and is secondary to any other insurance you may have, such as homeowners or renters insurance.
Also Read: RBC Bill Payment
When to Fill RBC Credit Card Purchase Security Claim
You should fill an Purchase Security Claim as soon as possible after the loss or damage occurs. You must file your claim within 90 days (about 3 months) of the date of loss or damage, or your claim may be denied.
To fill the form, follow the below steps
- Fill your personal details like Name, phone number, Address, postal code, email.
- Fill in the information about your claim like product is damaged/ lost/ theft.
- Fill the date of incident, purchase date, purchase price.
- Fill the information about Purchase Security Information like police report, policy number etc.,
- Fill in the declaration form and signature.
- Print the form.
Documents require to submit along with claim form
- Original sales receipt of your lost product.
- Xerox of your credit card statement for the proof that you have paid for the lost product.
- Details of police report.
- If item is repairable, mention the estimated price along with required documents
- If the product is not reparable attach the photos of the product.
Also Read: RBC Online Banking
Where to Submit RBC Credit Card Purchase Security Claim
You must submit the RBC Card Purchase Security Claim within 90 days of the date of loss or damage.
If it is not reasonably possible to provide such information within 90 days, you must do so within one year of the date of loss or damage or your claim will not be reviewed.
You can submit the RBC Credit Card Purchase Security Claim in one of the following ways:
- Online: Visit the RBC Insurance website at https://www.rbcroyalbank.com/credit-cards/cardholders/additional-documents/rbc-purchase-security-claim-form.pdf and complete the online claim form.
- By mail: Send the completed claim form and supporting documentation to the following address:
- P.O.BOX 97
- Station A
- Mississauga, ON, L5A2Y9
- By fax: Fax the completed claim form and supporting documentation to 905-813-4701 or 18882986262
If you have any questions about how to submit the RBC Card Purchase Security Claim, you can contact RBC Insurance at 18005114607.
NOTE: Once you have submitted your claim form and supporting documentation, RBC Insurance will investigate your claim and decide. If your claim is approved, RBC Insurance will reimburse you for the cost of the item, up to the maximum coverage limit of $50,000 per year.
Here are some tips for filing an RBC Credit Card Purchase Security Claim:
- Be complete and accurate when filling out the claim form.
- Attach all supporting documentation.
- Be prepared to answer any questions that RBC Insurance may have about your claim.
- Be patient. It may take some time for RBC Insurance to investigate your claim and decide.
In some cases, claims may be denied. Common reasons for denial include:
- Inaccurate or incomplete information on the claim form
- Failure to meet eligibility criteria
- Insufficient supporting documentation
- The loss, theft, or damage is not covered under the terms of the credit card agreement
Also read: RBC Rewards
Tips for a RBC Credit Card Purchase Security Claim
Here are some essential tips to ensure a successful RBC card Purchase Security claim:
- Read and Understand Your Credit Card Terms and Conditions:
- Before making any claims, take the time to thoroughly read and understand the terms and conditions of your RBC credit card.
- Different cards may have varying coverage and eligibility criteria.
- Keep Detailed Records:
- Maintain organized records of your purchases, including receipts, credit card statements, and any relevant documentation.
- These records will serve as evidence to support your claim.
- Act Promptly:
- In case of loss, theft, or damage to an eligible item, report the incident to RBC as soon as possible.
- Delay in reporting may lead to complications during the claims process.
- Document the Incident:
- If your item is stolen or damaged, consider documenting the incident with photographs or videos.
- This visual evidence can help substantiate your claim.
- Review the Eligibility Criteria:
- Ensure that your purchase meets the eligibility criteria for RBC Credit Card Purchase Security coverage.
- Not all items or circumstances may be covered.
- Fill Out the Claim Form Accurately:
- When completing the claim form, provide accurate and truthful information.
- Any discrepancies or inaccuracies can lead to claim denial.
- Include All Required Documentation:
- Double-check that you’ve included all the necessary documentation with your claim form.
- This may include original purchase receipts, police reports (in the case of theft), repair estimates (in the case of damage), and any other relevant paperwork.
- Keep Copies:
- Make copies of all documents submitted, including the claim form itself.
- This ensures that you have a record of what you provide in case it’s need later.
- Follow Up:
- After submitting your claim, follow up with RBC to ensure its processing.
- This can help expedite the review and evaluation process.
How long does it take to receive a refund for a Purchase Security claim with RBC
The time it takes to receive a refund for a Purchase Security claim with RBC can vary depending on the complexity of the claim and the availability of supporting documentation. However, RBC aims to process all Purchase Security claims within 10 business days of receiving all required information.
If your claim approved, RBC will issue a refund directly to your RBC credit card account. The refund will typically appear on your next statement, which usually generated within 3-5 business days.
What items covered by RBC Credit Card Purchase Security claim?
RBC Credit Card Purchase Security covers a wide range of items, including:
- Clothing and accessories
- Sporting goods
What items not covered by RBC Credit Card Purchase Security?
RBC Credit Card Purchase Security does not cover the following items:
- Real estate
- Gift cards
- Perishable items
What happens if my RBC Credit Card Purchase Security claim is denied?
If your RBC Card Purchase Security claim is denied, you will receive a letter from RBC Insurance explaining the reason for the denial. You have 60 days from the date of the denial letter to request a review of your claim.
What is the maximum coverage limit for RBC Credit Card Purchase Security?
The maximum coverage limit for RBC Credit Card Purchase Security is $50,000 per year.
Do I have to pay a deductible to file an RBC Credit Card Purchase Security claim?
Yes, there is a $50 deductible for RBC Credit Card Purchase Security claims.
Can I file an RBC Credit Card Purchase Security claim for an item that I purchased with my RBC Rewards points?
Yes, you can file an RBC Card Purchase Security claim for an item that you purchased with your RBC Rewards points. However, you will need to provide documentation to support your claim, such as a copy of your RBC Rewards statement showing the purchase.
Can I file an RBC Credit Card Purchase Security claim for an item that I purchased on sale?
Yes, you can file an RBC Credit Card Purchase Security claim for an item that you purchased on sale. However, you may reimbursed for the amount that you paid for the item, not the original retail price.