Two years ago, 29-year-old Robert Gray had his wallet stolen on an under-ground railway in Valencia, Spain.
Within about 20 minutes he put a stop on the Laser card which was in the wallet. But not before the thief had managed to withdraw €700 cash from his bank account.
"Just before I got on the train I used the card to withdraw money. I don't remember anyone being close to me at the time but I'm assuming I was watched and then followed," he says.
When he returned, Gray first contacted his bank to see if they would cover the cost of the €700 withdrawal. But after several months the bank declined.
"Their argument was that I was responsible for keeping my PIN number safe so they wouldn't pay out," he says.
Gray then went to his insurance company. He took out travel insurance when he booked the holiday and the policy covered him for up to €600 on card fraud.
"It was an extremely long and difficult process," he says. "The insurance company refused at first using the same argument as my bank. But I persisted. At the end of the day I was the victim of fraud.
"I finally threatened to go the financial ombudsman and that seemed to do the trick. In all it took six months to get my money."
If you have an issue with your insurance company and believe you have been treated unfairly you can take a case to the financial ombudsman. For more information on making a complaint check out: www.financialombudsman.ie.