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HSBC Packaged Bank Account


Will Silver
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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.

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I rather like your letter and hope that it obtains the result that you require. Do however, keep an eye on the date of their original Final Response letter, just in case you want to escalate to the ombudsman.

 

Please do keep us updated on your progress :)

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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HSBC are correct about the time limits for making a complaint.

 

However, what they may have gotten wrong is the date when you realised you had cause for complaint. But the circumstances around why you downgraded your account in September 2010 could be very important as HSBC could argue that you reasonably should have become aware that you had cause for complaint on this date.

 

I believe you may be wasting your time in writing to HSBC. I suppose there's no harm but they have already issued their final response and you only have 6 months (from the date of their final response) to escalate your complaint to the FOS.

 

(FYI: The FOS has never stated that packaged bank account fees are reclaimable).

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Thanks for your comments, I was made redundant 2009 so 2010 was when the money ran out and they closed the account was not anything on my part.

Will prepare the paperwork for FOS and make sure I keep it within the timescales.

I will take out the line about the FOS stating that packaged bank account fees being reclaimable if that is not correct.

When roughly was this recognised as another potential case of mis-selling?

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http://www.which.co.uk/consumer-rights/problem/i-think-ive-been-mis-sold-my-packaged-account-what-can-i-do

 

In answer to your question - 2013 was when it was recognised and the FCA produced new rules.

 

Have a read of the "Which" article linked above, it should provide some of the answers you require.

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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