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Packaged Bank Accounts complaints being handled unfairly

The next mis-selling scandal is upon us, and just as PPI before, the banks have been found not to be acting fairly when dealing with valid Packaged Bank Account complaints raised.

The product may be different, but the rules have been broken in the same way.

Packaged Bank Accounts will be the all over the news soon, and we’re already seeing a huge increase in customers approaching us to deal with their cases.

Banks tactics

Just as with Payment Protection Insurance complaints, banks appear to be blanket rejecting Packaged Bank Account complaints in the hope that they will go away.

Unfortunately, in far too many instances, UK customers accept a decision by the bank and take the matter no further.

However, if they were to escalate the complaint to the Financial Ombudsman Service, they stand an 80% chance that the rejection is overturned, and compensation is paid.

So why do banks reject valid complaints?

Simple really, we estimate the banks have saved £17 BILLION in compensation pay-outs simply based on customers not sending their rejected complaints to the Financial Ombudsman Service.

It’s our belief that banks and lenders should be facing far greater fines for their frankly disgusting tactics, but the City Watchdogs and regulators appear to be under the spell of the banks.

Do you pay for your bank account

Do you pay a monthly fee for your account, or have you in the past?

If the answer is yes then you may be one of the estimated 1 in 5 UK customers who have been sold a Packaged Bank Account.

Over 10 million of these accounts are currently active with potentially millions more that are no longer.

A Packaged Bank Account generally costs between £5 – £30 per month and includes various so called ‘benefits’ that commonly include things such as vehicle breakdown cover, mobile phone cover, travel insurance, life insurance amongst other things.

Were you mis-sold a Packaged Bank Account

There are various reasons why a packaged bank account may be deemed as having been mis-sold.

Choosing Your Money Claim means we look after your case.

We’ll deal with the banks on your behalf every step of the way.

We know the tactics that the banks try to use, and we know how to overcome them.

We beat the banks every day of the week, and there’s nothing we enjoy more than being able to contact our customers and give them the good news that they’re thousands of pounds better off.

So, why not put your claim in the hands of the experts?

Simply fill in our online form, or contact us via phone, email or our live chat facility. We’d love to hear from you.

 

Packaged bank account complaints

Packaged bank account complaints

About the author

Daniel Lee

Company Director

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