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Found 27 results

  1. Having successfully reclaimed PPI for son-in-law from both a loan and credit card from these chancers now I would like to reclaim the packaged account fees they fleeced from him over the years. Have all the information for claim from a SAR - appears to have have one for years with the fees increasing over the years - no letters or information in the SAR relating to benefits/selling process - was just told and accepted he need one - was very naive financially and has paid lots in fees over the years - all under control now with help from CAG. I would like to know which spreadsheet to use. In addition any links to threads or information relating to reclaiming would be greatly appreciated - have looked at the FOS case studies which are somewhere on the site. Thanks in advance, Intend.
  2. Hi everyone. First time for me posting so be gentle. I have read this thread with interest as I've just been time barred for my packaged account complaint by the bank and FOS as they say the bank has told them they "would have" sent me 'refresher packs' in July 2009 and March 2010 so I should have complained within 3 years from then. My complaint is that they upgraded my account without my knowledge in 2003 and at a time when I was in financial difficulty and would not knowingly pay more in bank charges. I'm keen to know what is a CCL letter that is mentioned earlier in this thread? Thanks
  3. Hi folks, How do I go about reclaiming packaged bank account charges? is there a letter template I can use? The bank in question is Ulster Bank. My account is a U-First account and the monthly payment was £9,99. How do I go about reclaiming please? I would appreciate your help. Regards, Johan
  4. Financial firms delivered fair outcomes in just 44 percent of complaints about mis-sold packaged bank accounts, the Financial Conduct Authority (FCA) has announced. The FCA published findings from its thematic review of packaged bank accounts on October 20. It said firms are “well below the required standards” when it comes to complaint handling. Less than 50 percent of these mis-sold packaged bank account complaints being dealt with resulted with a fair outcome, the regulator said. http://creditstrategy.co.uk/article/18545/online-news/financial-services-failing-on-packaged-bank-account-complaints
  5. Hi all. Is there a time limit on attempting to reclaim packaged account fees? I was charged for a packaged account with HSBC between November 2008 and December 2010. They continued to charge the fee even when the account went into an unauthorised overdraft and closed due to default in December 2010. I believe I took the account having been told it would mean I could have an overdraft - which I never actually got. It also provided breakdown cover but I do not drive. I do not know what the other benefits were - I was suffering from mental illness at the time. The delay on me looking into this is due to my illness - I only obtained statements at the end of April this year. Over £350 of packaged fees, but most of them are over 6 years old. Does a time bar apply?
  6. Hi, I have received a final response letter from Lloyds in regards to claiming back packaged bank account fees. Lloyds are saying that because I applied online and there was no physical person to give advise then the onus was on me for checking the box to the t&c's. Admittedly, I did not read these however the reason I upgraded my account was because I thought travel insurance was included which apparently never has been on the Select Account. My question is, do I accept this response ? Many Thanks
  7. Packaged accounts are current accounts that have ‘benefits’ attached. Such as Travel Insurance. It is a good way to obtain Travel, Mobile or breakdown insurances. However, you might be able to get these cheaper elsewhere and those included in the packages were not always beneficial to the customer. However, for this type of account, a monthly fee is charged, usually about £10 - £25.00 per month. – Doesn’t sound too much when you say it like that, but say £120.00 - £300.00 per year and that could be quite substantial. If you made a decision to take a packaged account for these benefits then all well and good. If you didn’t, and were advised that this was the only way you could have a mortgage or other type of loan, credit card or overdraft with your bank or it simply appeared – then you were mis-sold. If you were mis-sold, then you can reclaim:- Reasons for mis-selling You didn’t know you were paying for this type of account and don’t remember ever agreeing to having this account. You were upgraded without your knowledge. You were told you would be eligible for travel insurance but later found out this wasn't correct. You weren't told you wouldn’t be eligible for one or more of the insurance policies. You were told you had to get the account in order to take out a loan / overdraft / mortgage. You were told you wouldn’t be eligible for the Banks' fee-free accounts and had to get one. You weren't told there was an alternative, free account. You tried to cancel the account but the bank wouldn't let you . There is a draft reclaim letter in the CAG library. HERE Ideally you should fill out a copy of the statint.xls sheet HERE Please start your own thread in the appropriate Bank Forum to chart your progress and to ask any questions we might not have covered. This is not to be used for Bank Charges and/or unfair interest
  8. I've been away from the forum for some years and GOD how things have changed. I've just discovered that my old (premier 50 currant account) was packaged and contained an element for ID protection, which, naturally enough, I would like to claim back. Is there a template or procedural advice that I might be able to use - please?
  9. My Dad is 75 years old and in a conversation with him the other day he told me that Nat West were closing his account. He said it was one of those where he paid a monthly fee but never got anything out of it, he said he'd never used any services that it offered and when I asked how long he'd had it and why he'd taken it, he said that he'd had it probably 20 years (although his memory is a little hazy) and he said he hadn't asked for it, they just told him he was getting it.....I want to try to claim back his monthly PBA fees, should I start with a SAR request and take it from there? If so, which SAR letter do I use? Any help would be greatly appreciated.
  10. It's bothered me for some time that I pay for a packaged account with Lloyds. I've had more than my fair share of financial problems and one of the few plus points on my credit score is that I've had my bank account for a long time. I was investigating "free" accounts and came across a number of sites claiming that packaged accounts may have been mis-sold, hence my visit here. I originally signed up to a Gold account in the late 90s because I had asked for an overdraft increase (£2,000) and was told this was the way to get it. I hadn't realised the full "benefits" of the package (probably still don't) although I did use the breakdown service a few times around 2005/6. In 2009, after a period of unemployment and temp employment I went back to University to retrain as a teacher. As the account I had was more expensive than a "student account" and the overdraft was long gone, I applied to Lloyds to change the account to a student account but was told that because I hadn't got the best financial history (returned payments etc during unemployment period) they couldn't change my account. I was, therefore, trapped into continue to paying the £12pm. Do I pursue this for the original mis-selling, or just from the 2009 point where I was trapped into the paying the increased amount? Is there a 6 year limit on this?
  11. More than one million customers with RBS and NatWest will soon be forced to pay up to £2 extra a month for their packaged current accounts. From January 17, customers with the bank’s Black account must pay £26 a month for their deals. Those with the bank’s Platinum account will have to fork out £1 more, totalling £16 a month. RBS Black account offers worldwide travel insurance and access to airport lounges. The Platinum account includes travel and phone insurance and UK breakdown cover. Read more: http://www.thisismoney.co.uk/money/saving/article-3322929/One-million-customers-RBS-Natwest-face-price-rises-packaged-current-accounts.html#ixzz3rwIxQmWD
  12. I wrote to HSBC on 22nd July 2015 saying that I had a packaged bank account and highlighted the areas that I believed it to be mis-sold. I received a letter back 1st August 2015 which confirmed the following. It started as a HSBC Plus Account October 2007 in February 2010 this was rebranded as HSBC Advance, in September 2010 I downgraded the account so no further fees were charged after this time. It also added that the bank has rejected my complaint on the basis that more than six years have elapsed from the date I converted to an HSBC Plus account which is the event you are complaining about and more than three years have elapsed since you knew or could reasonably have known that you had potential cause for complaint. I must admit that I just accepted that was the outcome and put it to one side. I came back on here to see how things had progressed with packaged bank accounts to find that HSBC had been economical with the truth, what a surprise. I have drafted the following reply to the letter and would appreciate someone having a look at it and advise. "I refer to your letter dated 1st August 2015, it has actually took this long to reply as I believed and trusted what was actually said in the letter, in that you say there are time limits for a customer to complain. But, along with many millions of other people we have learned that this trust is not always the case, on this basis I have taken to use the information available on the internet and other media sources. As you are fully aware the FOS did not even publish they were reclaimable until January 2014, what was I supposed to do, look into the future from 2010. The time starts from when I became aware that I had grounds for a mis-sell which started from my letter dated 22nd July 2015, I did not 'become aware' of the reclaiming of these fees until then. It was only at this time, due to media coverage and research of the issue around these accounts that I realised that this had been a clear case of mis-selling that was when I raised the complaint at the time that I did. Your active encouragement not to go to the Ombudsmen " The Ombudsman might not be able to consider you complaint if what you're complaining about happened more than six years ago, and you're complaining more than three years after you realised ( or should have realised) that there was a problem." I find this quite disconcerting that a bank like HSBC has taken a policy to deliberately mislead customers and further dismiss the complaint out of hand. I certainly do not recognise that your letter is the Final Response on the matter. I am sure we can come to a mutual resolution and closure of this issue." Apologies for borrowing a couple of lines from individuals on this forum but I am not the best of letter writers. Thanks in advance.
  13. My boyfriends Ex-wife took out a bank account before she left him in 2009. My boyfriend was a joint account holder and signed to say he was happy with this. The account was then changed to a packaged bank account (called a Gold Account) without my boyfriends knowledge. The account was never used and it went overdrawn with charges until Natwest closed the account and added a Default to my boyfriends Credit File in April 2010 which we have only just found out about. My boyfriend wrote to Natwest asking them to remove the default from his Credit File. Natwest replied with a straight NO saying they had the paperwork signed by boyfriend and he had agreed to it. He does not remember signing for a packaged account and I know they were regularly mis-sold (Natwest tried it with me until I changed bank). What do we do next?
  14. Having reclaimed the PPI on my RBS overdraft earlier this year see here It recently became aware that perhaps I had a claim regarding a miss sold packaged account as I was told that I had to have this account to have the overdraft facility that I wanted..... dropped a letter in the post a week last Friday, today I received a letter agreeing that was the case and approx £1600 in fees and interest will be in my account within 3 days of the date of the letter.... Quickest, easiest reclaim ever, one letter, 2 weeks, done and dusted.......
  15. Morning All . Have started looking into the packaged account /fee paying account i had a few years ago . It was from Bank of Scotland . Looking through the info pack they sent to me i see that part of the monthly fee was for Card protection insurance .there are a few other insurances such as basic travel ,emergency home repair etc ,rac / aa road side assist . my question is as it was a single fee for a number of different products and one of these bundled products have being ruled to be fraudulent (card protection ) would that be sufficient grounds to reclaim the premiums paid as ultimately one of the insurances (never used any of them) was miss-sold so would mean they all are miss sold . any and all opinions appreciated regards
  16. Hi all again, I'm currently trying to put a bank charge claim for my friend, I've stop because I need to find out if he can claim hardship. When looking at his statements, I found he has paid a lot for his Halifax account. I asked him why does he pay? He said he was told he had to get the "Ultimate Reward Monthly Account" to get an overdraft. I've found online that this is textbook miss-selling, he also doesn't use and has never needed any of the insurances with the account. I'd like some advice on if I'm going the right way on this. I've drafted the moneysavingexpert letter for claiming back the charges and worked out the 8% simple interest. Not sure if you can claim the 8%, but i found a few sites saying you can. I'm sure my letter needs a bit of work, I'll upload it with the spreadsheet. My Letter: Account Name: Ultimate Reward Monthly Account No: 0000000 Dear Sir/Madam I have had the above account since 07/10/2009 but believe it was mis-sold to me on the basis that, I was told at the time I had to get the account in order to take out an overdraft. I calculate that you have taken £704.74 in fees, in addition to which I also claim 8% simple interest of £169.47 which totals £874.21. I am enclosing a copy of the schedule offees which I am claiming. I look forward to your response within eight weeks, otherwise I won’t hesitate taking my complaint to the Financial Ombudsman Service. Yours Sincerely Friends Signed Friends Name Printed Thanks Andrew
  17. Hi again So here you go again another copy and paste of my brief story .. Enjoy ..Oh and my 3rd alleged debt.. Please help So my story.... I used to work for HBOS plc (Halifax) as an IT specialist. In July 2007 During my time at HBOS I became severely ill with encephalitis (similar to meningitis) which left me disabled and stuttered and completely inaudible amongst other symptoms. As a result In 2008 I was let go by HBOS after 8 months of SSP - due to my long term sickness. Debt 3 - Halifax Packaged Account Defaulted in 2007/2008 - one of those pay £15 a month for perks you never use. Debt now owned by Lowells. I worked for Halifax they signed me up as staff and I didn't really get much information about the account other than internal IM comm's. Last Payment I made to this account must have been 2007/2008 as I was in a coma after that and there was no money going into that account. My overdraft was £1000 - so the extra £468 must be charges and unpaid monthly fees. Debt has been sold to Lowell who have just sent me an annual statement of account.. From what I have read on the Forum I believe this debt is now Statute Barred? My next steps... Not to acknowledge the debt? CCA request? Statute Barred Letter and removal from credit file? Advice and help and comments and sticks and stones and the kitchen sink... Let me have it Please Thank you Beautiful People
  18. Whilst at University in the mid to late 90s I held a graduate account with Lloyds which on graduation had to be changed to a standard account. As with most students I had built up quite an overdraft and was told by the gentleman I spoke to in my branch that a standard account wouldn't be suitable unless I could reduce my overdraft to a level which would be allowed. Clearly I didn't have the funds to make such a payment so was 'offered' a gold account as that would allow me to service the overdraft without a problem. Fast forward to now and I have recently written to Lloyds to complain about being mis-sold the gold account, in my opinion I was not given any other options due to my status and felt that I was pretty much pushed into taking it out. I have just spoken to a complaints manager who has pretty much turned down my complaint. The reasons for being turned down is their lack of account information previous to 2001 and that I downgraded the account to (I think) a classic account in 2010 before closing my account in 2011 meaning that (in their opinion) they don't need to uphold the complaint and do not need to investigate further. What are your thoughts on this? If I can find statements going back to the opening of the account do you think I will be able to pursue it further? Thanks in advance.
  19. What do you reckon my chances are of getting anything back by sending the attached? Been paying £9 a month for well over 10 years for no apparent 'benefit'. TIA
  20. Hi, My Premium Account is being scrapped and I rely on the following features of it: 1.) The fee-free overdraft 2.) The mobile phone insurance 3.) The breakdown cover 4.) The travel insurance Now they are closing the account, I will be switched to the every day account which means I'll be charged £1/day for being in my authorised overdraft up to a maximum 20 days in any one month. Due to the way I'm currently running my account, this means I'll end up being charged £20/month for my overdraft, but get none of the "perks" For this reason I'm looking to move my account elsewhere, however due to my credit rating, I'm unable to get the overdraft matched elsewhere. I'm interested to find out if it is possible to ask Santander to freeze the charges on my overdraft while I pay it off? I'll instead have to pay another bank £10/month for similar features, but I begrudge paying Santander £20/month for nothing. I would accept paying up to £10/month until the overdraft is cleared - do you think this is something they would accept?
  21. Hi all I'm hoping that some of the people around here may be able to help on this. I'm after details of the packaged bank accounts that Lloyds (and Lloyds TSB) has sold. I know that in the past these have included Select, Silver, Gold, Platinum and Premier but I would like more information: Does anybody know when Lloyds introduced packaged bank accounts? Does anybody have any details (such as what they offered, etc.) of these packaged accounts from when they were first introduced, etc. or after? Is there anywhere to obtain this information that anybody knows of (other than from Lloyds!) Any help appreciated! Thanks.
  22. Can anyone advise whether CAG is advocating the reclamation of Mis-sold Packaged Account Fees?
  23. Lloyds TSB has placed a temporary ban on the sale of controversial "packaged" current accounts, which will not be sold in branches or over the phone from January 1. These accounts, which can cost up to £300 a year, have been widely sold in recent years, and offer a range of additional perks, including travel insurance, breakdown cover and mobile phone insurance. But the regulator has been concerned that many people paying for such accounts do not always make use of the benefits, either because their age or a medical condition disqualifies them from cover or because they may already have bought such insurance separately. Last year concerns were raised that some banks were incentivising staff to sell these "premium" accounts, which could lead to unsuitable sales. New rules, due to come into force in March, will require banks to check whether customers can claim on the insurance products included before recommending a packaged account. A spokesman for Lloyds TSB denied that the temporary ban was because of concerns about mis-sold accounts. He said it was to "harmonise the way these accounts are sold between Halifax and Lloyds TSB branches" - both are now part of the Lloyds Banking Group. Currently Lloyds TSB will recommend one of the packaged accounts in its range. The bank offers four different packaged accounts, with prices ranging from £9.95 a month to £25 a month. In contrast, Halifax staff don't recommend a particular product but provide information on the various current accounts; the customer will then decide which one they want. Link; http://www.telegraph.co.uk/finance/personalfinance/consumertips/banking/9756771/Lloyds-calls-a-halt-to-packaged-account-sales.html
  24. Banks offering insurance and other perks as part of paid-for 'packaged accounts' will be forced to send letters to their customers telling them whether they are eligible for the benefits that they are paying for. The Financial Services Authority (FSA) said that from March 2013, banks will have to send eligibility statements to these account customers, separately from other information about their accounts. "This will make the statements more prominent," a spokesman said. Packaged accounts are current accounts which come bundled up with a range of insurance policies and other features. The fees can be as high as £25 a month and one in five of the UK adult population has one of these accounts. The FSA has been investigating the sale of these accounts after complaints that some people are paying for insurance that they cannot use. A particular problem is where people are too old to use the travel insurance that comes with their account- which usually has an upper age limit. The Financial Ombudsman, which deals with complaints from the public about financial companies, said that it receives around 30 complaints a week about packaged accounts. "We do receive a significant number of complaints about the products 'packaged' with the accounts, from mobile phone insurance to travel insurance," a spokesman for the ombudsman service said. "These problems tend to arise when people come to make a claim – only to find that their policy offered only limited cover or pays out only under the most particular of circumstances". Other complaints about these accounts include people not realising that they had a packaged account or how much it would cost. Link: http://www.telegraph.co.uk/finance/personalfinance/consumertips/banking/9746271/Packaged-account-holders-to-get-eligibility-statements.html
  25. As the FSA publishes new rules on packaged accounts, we ask what is the point? It never rains but it pours. This truism doesn't seem to just apply to the weather this summer, but the problems the banking industry has mired itself in. After the shocking revelations from Barclays, following on from the catastrophic computer problems at RBS and NatWest, bank chiefs - well, those still in their jobs - are now braced for another grilling from the regulators, this time it is about how they sell current accounts. In the spotlight are so-called "premium" bank accounts, where customers pay a monthly fee for their account in return for a ragbag of freebies and perks. These can include travel insurance, breakdown cover, mobile phone insurance, discounts on overdraft fees, as well as less tangible benefits, such as free will-writing services, or access to business-class lounges at airports. But the fees can be substantial. The top of the range will cost £300 a year, with the average "packaged" account setting customers back almost £200 a year. Despite this cost, millions have signed up. Latest estimates suggest every other new account opened is "premium"; in total, more than 10million people now pay for the service, around one in five of all current accounts. Of course, there aren't millions of people marching into bank branches, or phoning call centres, demanding to pay for banking services which they previously had for free - even if they do include European travel insurance. More: http://www.telegraph.co.uk/finance/personalfinance/consumertips/banking/9431788/Packaged-accounts-What-exactly-are-customers-paying-for.html
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