Packaged Bank Account Claims

Packaged Bank Account Claims Lawyers

Packaged Bank Accounts are known as ‘paid-for’ or ‘privilege’ accounts. A Packaged Bank Account is a bank account for which you pay a monthly fee sold as an upgraded account. If you have a similar bank account – or have had one within the past three years, you could be one of the many people who have been sold such an account improperly. Figures suggest that the majority of Packaged Bank Accounts fall into a category where the people were not informed about the monthly/annual fee charges.

Packaged Bank Accounts are highly profitable for the bank and sales staff. It is because the staff generously get rewarded for signing customers up.

In 2012, The Financial Conduct Authority (FCA) found that many of the banks incentivized their staff in such a way that they disregarded the welfare of the customer in favour of receiving bonus payments and rewards. Packaged Bank Accounts are highly profitable for the bank and sales staff.

Some of the instances of mis-selling are:

  • You were not aware of your packaged bank account
  • You were not completely explained about the product
  • Misguidance of the information such as you were
  • Told you were eligible for the claim when you were not
  • Misguided you about your credit scoring
  • You were not informed of the entire cost involved
  • Involved or aware of the increase in cost
  • Misguided about your application acceptance
  • Until you have an account opened with the bank
  • Bank not accepting your refusal

How to reclaim bank account fees?

There is no limit as to how far back you can claim; it could be even a year ago. To claim back bank account fees, we need the name of the bank your account was held with and the bank account number. In case your packaged bank account claim gets successful, you are entitled to a refund of all the monthly/annual fees you have paid for your account and the interest at the rate that is recommended by the Financial Services Ombudsman. Even if you’re mis-sold packaged bank account for a short duration, with small monthly payments, the overall cost can quickly add up and result in getting a higher amount. So get in touch, we can often still help you recover your monthly or annual payment.


How can we help you with the packaged bank account claims?

We will help you to investigate your claims on a no-win-no-fee basis. You will not have to pay any money up-front until the case is completed. We will cover the costs of the lender fees, for the copies of their records until we complete all the investigation procedures. And we will make the payment only if you are awarded compensation from the bank.

It means that you have potentially nothing to lose, and if you are awarded the compensation, gain of money.


R & A Solicitors

Have a question to ask? 


We help people to reclaim bank account fees from mis-sold packaged accounts. Our services are no-win no-fee.