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June 8, 2015 
Daniel Lee Speaking to friends and family regarding the new mis-selling scandal sees me being asked many questions, and much as the same as the PPI scandal was, people initially feel they are satisfied with the cover they have.
Unlike PPI which was hidden, buried within contracts for many, Packaged Bank Account fees are generally easy to spot. If you pay a monthly fee for your account then you have a Packaged Bank Account.
So, onto the dilemma of being happy with your Packaged Bank Account cover, and not knowing whether making a claim that it was mis-sold, is worth it.
The first question you need to ask is what exactly are you covered for? Are you aware of the restrictions in cover?
I’ll start with my own circumstances, and that of my partner, to give you two examples.
Firstly, my partner. She was sold a Packaged Account that included travel insurance, mobile phone insurance, and vehicle breakdown cover. These are three of the most common insurances that are included.
My partner didn’t drive at the time she was sold the account with the insurances!!!
We travelled outside of Europe, and the travel insurance on the account only covered European travel.
She does have a tendency to lose her mobile so I’ll give her that one!
However, two out of the three insurances were completely useless. We made our claim through Your Money Claim and received compensation of just over £600.
My account had the same policies included on my Packaged Bank Account cover. I do drive, and travel within Europe, and I also have a mobile phone, so I could use all three policies within reason. Having said that, I hadn’t checked the small print so there may be many hidden exclusions that I was unaware of.
Nevertheless, let’s assume that I’m able to use the policies. I pay £14.99 per month for these ‘perks’, or £179.88 per year.
Using simple comparison sites I’m able to obtain the same level of cover for just £78.12, a saving of over £100 per year.
When you also take into account that the insurance excess fees on the Packaged Bank Account policies range from £50 – £200 more than the stand alone comparable options it becomes clear that by spending just a few minutes of your time can save you money.
There are many reasons for a mis-sale, and these can be found via our blog here.
The average compensation amount we are recovering for our customers at present is over £1,000. With over 10 MILLION Packaged Bank Accounts still active, and millions more that are not, we estimate the final bill will run into £BILLIONS.
The simple, and resounding answer is NO NO NO NO NO.
No bank or lender is allowed to treat their customer any differently for bringing a complaint to them. If any bank were found to have done this they would open themselves up to huge fines.
Banks must adhere to strict guidelines when it comes to Treating Customers Fairly (TCF) and any bank found to be acting outside these guidelines would face the harshest of action from the regulator.
So, to summarise, if you’re paying for a Packaged Bank Account cover it’s almost certain you’re paying over the odds. The bank have, pure and simply, ripped you off in order to generate profit. Moreover, your bank cannot treat you differently for you raising a complaint regarding the sale of the account.
Claiming couldn’t be simpler. Your Money Claim deal with the case every step of the way.
Your Money Claim beats the banks so you don’t have to. With tens of thousands of customers receiving MILLIONS in compensation, Your Money Claim is used to beating the banks on a daily basis.
Packaged Bank Account cover
October 14, 2014 Daniel Lee If ever there was a prime example of the attitudes of people at the top level in major banks, this is it!
With the long overdue, and I mean LONG overdue, rules being introduced by regulators which could see criminal prosecutions being brought against banking executives for failings, it appears the water has become too hot for some.
Alan Thomson and John Trueman, HSBC Directors, have decided enough is enough, and are quitting in protest of the new rules.
HSBC, amongst most other UK lenders, have systematically mis-sold products such as PPI and Packaged Bank Accounts, and offered terrible advice on mortgages and investments, purely to line their own pockets and that of it’s shareholders.
As if bringing the country, and the rest of the world, to it’s knees wasn’t bad enough, these people would rather run than put right their clear failings.
No doubt Mr Thomson and Mr Trueman’s will be able to enjoy a long and luxurious retirement whilst the rest of us have to pick up the pieces.
Reckless behaviour by senior bank staff will soon become a criminal offence, if regulators get their way.
However the banking industry have claimed that such rules would struggle to attract high quality directors!!!!
If we weren’t still feeling the affects of the huge recession brought about by bankers greed, that would almost be laughable. It’s abundantly clear that the banking industry must start to attract a completely new type of director, people who put customers first instead of their own filthy pockets.
In addition to criminal charges for reckless behaviour, the regulator also has the power to claw back bankers bonuses up to seven years after they have received them.
Unfortunately the new rules mean that bonuses cannot be clawed back for past misdemeanours as this would start with a line in the sand, so to speak.
We have reservations regarding how exactly this will be done, given the history of broken promises by the regulator, but we must remain hopeful they will stand by their new claims of stronger action.
With an estimated 7 million people yet to stake their claim for compensation for mis-sold PPI, and millions more who are entitled to compensation for the new Packaged Bank Account scandal, there are BILLIONS in compensation waiting to be claimed.
Account numbers are not needed, as fast-track systems have been set up between Your Money Claim and most banks which sees lenders provide account details and whether any insurances were added to the account, whether it be a current account, mortgage, loan, credit card or even a store card.
Your Money Claim deals with, and beats, the banks on a daily basis, recovering MILLIONS in compensation for thousands of customers.
So why not start your claim today, it’s your chance to make the banks pay for their past greed.
HSBC Directors
October 13, 2014 Daniel Lee Clydesdale Bank has, in one fell swoop, almost doubled it’s PPI bill.
With a new PPI compensation fund standing at over £1.2 BILLION, a whopping £425 MILLION increase, it’s yet more evidence that the banks and lenders have hugely underestimated what the final PPI bill will be.
With a new wave of claims against mis-sold Packaged Bank Accounts, in addition to the PPI scandal, it’s hardly a good time for UK banks, who are finally starting to face the music for their greed.
The bank, which is owned by National Australia Bank, has had to issue a profit warning on the back of this new addition to the Clydesdale PPI bill.
Further misery was heaped on the bank, which also owns Yorkshire Bank, as it stated this latest increase should see it through this financial year. This clearly indicates that more is to come, much more.
Indeed, only two months ago the bank set aside a further £75 MILLION, hoping this would be an end to it.
Clydesdale Bank and Yorkshire Bank have followed in a long line of banks who have added to the compensation fund over the last few months.
With UK banks adding over £3 BILLION within a 6 week period just a few short months ago, this addition to the Clydesdale PPI bill pushes the overall cost to the financial sector beyond the £25 BILLION mark that they had hoped would be the final figure.
We stated months ago that our estimation was of a final figure between £25 BILLION – £42.5 BILLION.
This is based on basic maths, but is entirely dependant on the estimated 7 MILLION people who have yet to make a claim doing so. Furthermore, with banks and lenders continuing to handle complaints unfairly, our figures suggest that they’ve saved themselves a cool £17 BILLION, simply because of the sheer number of people who accept the banks telling them that their PPI wasn’t mis-sold.
By placing your claim in the hands of the experts, you don’t have to deal with the tactics and hurdles that banks often put up in order to try and wriggle out of paying compensation where it’s due.
Your Money Claim are the experts. From checking to see whether you’ve been sold PPI, to dealing with your lender throughout the claim process, you can relax, safe in the knowledge that your claim is being dealt with by a company that is used to beating the banks every day.
It’s what we do, it’s what we love, so why not start your claim today.
Clydesdale PPI bill
October 23, 2014 Daniel Lee MBNA was founded in 1982 and was initially known as Maryland Bank N.A, hence the initials MBNA. The letters N.A. stood for National Association. Maryland Bank was renamed MBNA officially in 1989. The founders of MBNA were a group of MNC Financial executives, with MBNA’s first offices being housed in a reformed supermarket in Ogletown, Delaware.
MBNA, like most banks and lenders, saw an opportunity to take advantage of the good nature of it’s customers in order to make vast amounts of profits by mis-selling PPI. Luckily for them however, it appears they may come through the new Packaged Bank Account scandal as MBNA do not currently offer current accounts.
MBNA PPI Claims have been consistently high since the scandal hit the media in the mid 2000s!
Bank of America acquired MBNA in 2006, and you could be forgiven in thinking that Bank of America may have regretted their purchase given the impact on it’s reputation since the PPI mis-selling scandal came to light.
Forbes magazine listed Bank of America the worlds third largest company in 2010, and in 2008 they became the worlds largest wealth management corporation by acquiring Merrill Lynch.
Such was the size of MBNA that the company held 12.2% of all bank deposits in America in 2009! They also have almost 50 MILLION customers across the globe.
On 21st August 2014, Bank of America found themselves facing a huge fine after the US Justice Department filed several lawsuits and countless investigations involving both mortgages and financial disclosers. The fine was reported at an eye watering $16.65 BILLION!
MBNA have been one of the front runners in mis-selling of Payment Protection Insurance in recent times.
It’s also clear that MBNA have not been handling claims fairly. This is evident via checking the number of initially rejected complaints regarding MBNA PPI, that the Financial Ombudsman Service overturn.
A staggering 80% of MBNA PPI claims that the bank reject are decided to have been unfairly rejected. This is yet more evidence that banks such as MBNA continue to treat their customers unfairly, and why we insist on escalating rejected cases to the Financial Ombudsman Service!
MBNA, along with the other major mis-sellers have already set aside almost 25 BILLION in compensation. With our estimations suggesting that the majority of UK consumers have been affected, why not see if you’re entitled to thousands.
If you don’t want to be mis-treated by banks anymore then get your MBNA PPI Claims pack today! Need any help with filing it out? Click Here.
You can download it yourself in seconds or you can apply for one via the post today! With our simple process you could be on your way to compensation in minutes!
Our No Win No Fee* policy always puts you first.
Claim now with our hassle free system that is designed for you! Enjoy a simple and easy journey to receiving MBNA PPI Claims Compensation!
MBNA PPI Claims – The Story
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October 23, 2014 Daniel Lee NatWest or National Westminster Bank, as it is officially called, was founded in 1968 following a merger between the century long established pair of National Provincial Bank and Westminster Bank. In doing so, NatWest became the largest retail and commercial bank in the United Kingdom.
Today Natwest finds itself as part of the The Royal Bank of Scotland (RBS) Group, something it has been since 2000.
With over 1,500 branches and over 7 million customers NatWest is a huge contender in the banking industry. NatWest’s famous three arrowhead logo is thought to represent the circulation of money in the financial system.
NatWest has long been considered as one of the ‘Big Four‘ in the UK banking industry, cemented by it becoming part of the Royal Bank of Scotland Group.
The Royal Bank of Scotland Group owns banks across the globe, including Citizens Financial Group, the 8th largest bank in the US, and as from 2004 to 2009 RBS was the second largest shareholder of the largest bank in China.
It’s sheer size has ensured it’s prominence as a global player which has been of huge benefit, but has also led to the bank becoming embroiled in some very unsavoury business which has seen it receive huge fines for financial wrongdoings.
Whilst the group appear very particular when choosing which bank can become part of the group, they have not been so particular in who they generate their profits from, with it’s customers always being their first port of call.
The mis-selling scandal of Payment Protection Insurance (PPI) has seen the bank con BILLIONS from it’s customers. With mis-sold Packaged Bank Accounts following hot on the heels of PPI, it’s further evidence if needed that this banking group continue to treat it’s customers with sheer disdain.
On the 11th of January 2011 The Royal Bank of Scotland and NatWest where fined £2.8 MILLION for poor complaint handling by the Financial Conduct Authority (FCA). In particular mishandling their own NatWest PPI claims.
On February 6th 2013 RBS where fined £87.5 MILLION as they significantly failed to report misconduct in relation to the London Interbank Offered Rate (LIBOR).
More recently RBS took another hit from the FCA as they received a fine of £14.5 MILLION for failings in their mortgage sales.
These are just a few examples in the clear failings of the RBS Group, which includes Natwest. How many chances does this bank require?
NatWest PPI claims continue to flood in at a huge rate, and we are also seeing a steady rise in Natwest Packaged Bank Account Claims. Dealing with Natwest on a daily basis, we’ve become accustomed to dealing with various tactics they try to employ to try and wriggle out of paying compensation that is due, and there’s nothing we like doing better than beating the banks, it’s what we do!
NatWest PPI Claims – The Story
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September 30, 2014 Daniel Lee Earlier this year, Lloyds banking group began selling off a 38.5% stake in its TSB banking arm and they’re going to be left with a 50% share in TSB after kick starting their latest spate of share sales.
The bank was bailed out by the Government in the midst of the banking crisis in 2008 and since then, they’ve been fined for a number of different things such as mis-selling payment protection insurance so it should come as no surprise that they’re trying to generate funds.
The bank is now planning on selling a further 11.5% of its shares in TSB at 280p per share and it’s estimated that the bank will raise around £160m with the sale.
The reason for the sale of the TSB shares being kick-started is due to Lloyds revealing that they have handed out £1.2m worth of shares to 11 of their most senior staff, including their chief executive, António Horta-Osório. This has been done in order for the bank to try and sidestep the new EU rulings on bonus caps.
This just goes to show the lengths that the banks will go to in order to get their own way. All of the major banks are starting to hand out their top staff members “allowances” in ways of shares so that they can get around the bonus cap.
The cap that has been put in place is meant to stop bankers receiving absurd amounts of money for their bonuses. It’s meant to cap the bonuses that the bankers receive and restrict them to one times the salary of that banker at an absolute maximum, unless shareholders approve a pay-out that is twice the size of a salary.
Something that isn’t new to the banks in the UK is the fact that they’re used to cheating money out of the general public.
The PPI mis-selling scandal, which Lloyds was deeply involved in, has cheated the UK public out of billions of pounds and there are millions of people who have been affected by the saga. If you’d like to know more then this post about the facts and figures of PPI should come in handy.
If you think you’re one of the millions of people who have been cheated by the banks, why not start your claim with us today? You can download a PPI claim pack here and get things going today. Alternatively, you can fill in our online form and we’ll send you a pack out in the post with a pre-paid envelope so that you can get it filled in and sent back to us as soon as possible.
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Lloyds Sell TSB Shares
