What is a Packaged Bank Account (PBA)?

A packaged or premium bank account is a bank account that incurs a monthly fee in exchange for various benefits such as travel insurance, car breakdown cover and mobile phone insurance.

How was the PBA Mis-Sold?

There are several reasons as to how you may have been mis-sold a PBA which include:

– You were told that you had to get a PBA in order to get other financial products such as an overdraft, loan or credit card.

– You were told that a PBA was the only account available.

– You were given a PBA without even knowing it.

– You were never provided with a full explanation of the PBA or advised about the monthly fees.

– You were not asked if you had any pre-existing medical conditions that may have stopped you claiming against the insurance.

– You were told that you could claim against the insurance policies when you could not.

– You were never told that you had to register certain items for them to be covered by the insurance policies.

– You were never told about an increase in the monthly fees on the PBA.

– You were pushed into opening the PBA by a representative who would not take no for an answer

What Information Do I Need to Provide?

The minimum we require is the name of the account and account number to be able to pursue a refund.

How Much Will I Receive?

If your claim is successful, you will be entitled to a refund of the full amount of fees paid plus interest at a rate of 8%.

How Much Will it Cost Me to Pursue?

Should your claim be successful, we charge a fee of 30% plus VAT of the compensation. For example, if we recover £1,000 compensation, our fee would be £360.  This means that you keep the majority of the refund awarded.

When Will I Receive My Compensation?

The process of reclaiming your money can take as little as eight weeks. However, this can sometimes take longer depending on issues such as the nature of your case and which bank we are claiming from.

Can I Claim if I No Longer Have the PBA?

Yes, you can claim even if the PBA has been closed.

Alternatives to Our Service?

You are of course free to make the complaint yourself however our service has been specifically designed to take the hassle and stress out of doing this by yourself. Our process will help you to present a complaint that reflects all your key complaint points to assist you recover any potential redress. Please note that the Ombudsman Scheme could be used or any other mechanism such as legal expenses insurance to pursue a claim. If on the other hand you feel daunted by the process or don’t have the time to fill in all the forms and liaise directly with the bank you are complaining to, we offer a hassle free alternative.