Mis-sold Packaged Bank Accounts
These types of accounts are also known as ‘premium’ accounts. They are current accounts where you pay a monthly fee in return for a variety of insurances which usually include mobile phones, travel, and car breakdown. They also entitle you to preferential rates on overdrafts, loans and other financial products.
They can cost up to £25 per month, however, many people have found it impossible to claim when they needed to, for example, age or medical conditions mean travel insurance does not cover them, or householders without a car are paying for a useless breakdown policy.
In many cases customers took these accounts without realising they would not be able to use them due to hidden catches in the terms and conditions which branch staff failed to explain. They often felt pressurised into taking them as they were led to believe there was no alternative ‘free’ account.
If you have been mis-sold a Packaged Bank Account, get in touch so we can start your claim today.
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