What is a packaged bank account, and could you be owed money?
If you have ever paid a monthly fee for your current bank account, which is usually called a packaged bank account, or if it has insurances linked to it such as mobile phone cover, breakdown cover or travel insurance – you may be owed a substantial amount of money back.
These types of accounts have been predominantly mis-sold in a multitude of ways, meaning banks now owe hundreds and even thousands to their customers.
How much do packaged bank accounts cost?
Typically, packaged bank accounts cost between £5 and £35 a month. The price for a packaged bank account varies depending on the benefits and which lender/bank you chose.
How could I have been mis-sold?
There are many ways a packaged bank account may have been mis-sold to you, from the terms and conditions not being fully explained, to even being misled by the bank.
Many have been told they needed a packaged bank account to qualify for an overdraft, mortgage or their account was “upgraded” without their consent.
How do I know if I have a claim?
The first thing to do is to check your bank statements for any outgoing account fees. If you notice any monthly costs, it could be the fee for a packaged bank account, and you may be entitled to make a complaint.
How much could I be owed?
The amount you could be owed depends on how much you were paying and how long you were paying it for.
We aim to get you back 100% of what you have paid and a further 8% interest for each year you were mis-sold which can build up substantially over time. Our largest win to date is more than £10,600.
How can Legal UK Services help me?
We have helped people get back over £5 million for mis-sold packaged bank accounts.
At Legal UK Services, we have a trained team of legal experts who will be able to make the process as simple as possible and guide you every step of the way. We also operate on a strict ‘No Win, No Fee’ policy, so if we are unsuccessful, you pay absolutely nothing.
How do I start my complaint with Legal UK Services?
The first step is to complete the following online form: https://www.pba-checker.co.uk/
We ask that you answer all of the questions to the best of your ability. However, we do appreciate your account(s) may have been opened some time ago so you might not be sure of all the details.
The more information you can provide from the point of sale will help us to strengthen any potential complaint.
Once you have submitted the online form one of our legal experts will then review your case and submit a complaint to the bank based on the information you have provided.
After you have filled out the form, if you find you have additional information to submit, you can email it directly to [email protected].
If you need any further information or would like to know more about packaged bank account loan mis-selling, feel free to contact our friendly team today on 0161 5180 980.