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Co-operative PBA bill increases
The much troubled Co-operative Bank has always attempted to set itself apart from the rest by being the bank with morals.
Whilst claiming to have a strict policy in not placing investments with, or offering banking facilities to companies it deems to be harmful or against it’s ethos, it doesn’t appear to have the same moral standing when it comes to it’s own customers.
Having already been caught up in the huge PPI mis-selling scandal, setting aside £108m in compensation to date as well as receiving a £113,00 fine for mis-handling complaints, it appears it’s shoddy treatment of customer did not stop there.
Packaged Bank Accounts
Co-operative Bank, like almost all other UK banks, sold Packaged Bank Accounts (PBA’s) to it’s customer in huge volumes.
Why did they do this? Plain and simple really…..PROFIT!
In this relatively new, but fast growing scandal, banks are having to set aside millions in compensation for this latest mis-selling scandal.
Co-operative have recently announced they have set aside £16.8m, which takes the overall figure for UK banks so far to £730m.
Whilst this is small scale compared to PPI, it is following in the same footsteps and gathering momentum as more and more people become aware of the issue.
About PBAs & Our Service
There are approximately 10 million PBA’s that remain active today, and with potentially millions more that have been closed.
Packaged Bank Accounts attract a regular monthly fee, generally between £5 – £30, in exchange for various products such as mobile, travel and breakdown insurance, to name a few.
Much like PPI, it appears banks have abused their position to mis-sale these accounts in order to generate obscene profits at the expense of their customers.
Not sure whether you qualify? Check here to see whether you may.
Start your Co-operative PBA claim…
Option #1: Fill in the ‘Start Your Claim’ form on this page. We’ll send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we provide, we’ll make a start on your Co-operative Packaged Bank Account claim.
Option #2: Click the ‘Download Claim Pack’ button. Simply print out the form, complete it and send it back to us. Our address and email address can be found here.
Our experts are on hand to answer any questions you have via telephone, email or our live chat facility.
