LLoyds Premier bank account Package account fees mis sold? **WON**

[ZENTRIX9]

I have a LLoyds Premier bank account which I opened around 8 - 9 years ago.

There is an overdraft facility which we owe around £2000. The balance has been stuck at this amount for about 7 years I think due to me losing my job.

Each month it costs us around £50 in interest and account charge to keep it where it is. We asked about 4 years ago if we could change to a standard account to help get the balance down but were told that until the overdraft came down to £500 we couldnt, so we are stuck.

When I opened the account they sold me the whole insurance package with it and I told them I already had phone insurance, household insurance, holiday insurance and breakdown insurance etc and it was no use to me. I was told that this was the account I needed to get the overdraft.

 

Do I have a valid reason to put in a claim for mis selling and if so what can I claim for?

We are basically treading water and not able to reduce our debt due to the interest and account charge, we could have paid it off nearly twice in the time we have been paying for the account.

 

Would they have been better to change it to a personal loan and change the account so we could have paid it off?

Doesnt seem like it would have been an advantage to them to do this as they wouldnt make so much money off us.

 

Any help would be appreciated

[dx100uk]

go get it back

 

 

http://www.dailymail.co.uk/news/article-2547073/Backlash-rip-fee-paying-bank-accounts-Thousands-customers-complain-claims-widely-mis-sold.html

 

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?459427-Reclaim-Packaged-Current-Accounts-Deal-Fees

 

 

http://fca.org.uk/your-fca/documents/consultation-papers/fsa-cp12-17

[intend]

Definitely worth a shout - I am about to put in a claim. Read up on reasons for mis-selling before you put in a claim.

[ZENTRIX9]

Got £2000 back

[dx100uk]

well done

dx

 

 

 

 

 

 

 

 

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