But what is a Packaged Account?
‘Packaged’ or ‘Premium’ bank accounts as they are commonly known are current accounts where you pay a monthly fee to enjoy extra features such as car breakdown cover, travel and mobile phone insurance, improved rates on other financial packages.
We can look at claiming for you if you had an account you paid over £10 per month with the following banks:
- Lloyds TSB
- RBS Royalties Gold
- Clydesdale Bank
- Co-Operative bank
- Yorkshire Bank
So how do I know if I have been mis-sold my packaged bank account?
Well, were you aware of the features on the account? Are the extras even suitable for you? If not then you may be able to claim. Examples of what to look for are:
- You were never told about an increase in the monthly fee on the packaged bank account you have been sold
- You were told that you would not be eligible for a free account and had to have a packaged bank account
- You were given a packaged bank account without even knowing about it.
- You were told that you had to keep the packaged bank account when you tried to cancel the account
- You were told that you were a privileged customer and that your account was being ‘upgraded’, but it was not explained to you that it was a packaged bank account and there was a cost to upgrade.
- You were not asked if you had any pre-existing medical conditions that may have stopped you claiming against the insurance policy
- You were never told that you had to register certain items for them to be covered under the insurance policy
- You were told you could claim against the insurance policies when you could not
- You were told you had to sign up for the packaged bank account in order to obtain or make changes to another financial product such as a mortgage, loan or overdraft
- You were told that you would be eligible for large discounts on other insurance products if you took out a packaged bank account
- Our fee is 30% inclusive of VAT we will look to claim back all relevant fees dating back to account inception, all historic bank charges and standard interest at 8% per annum on all fees / charges recovered. Where appropriate you can approach the Financial Ombudsman Service or Financial Services Compensation Scheme for free.
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