Doggone Posted March 11, 2016 Report Share Posted March 11, 2016 I've received an email from a no win no fee outfit, suggesting the monthly charge for a current account, which includes stuff you didn't ask for, eg breakdown cover etc is not legal and the banks have to repay such charges. Anyone know anything about this? Andy Quote Link to comment Share on other sites More sharing options...
robbiep Posted March 11, 2016 Report Share Posted March 11, 2016 I've received an email from a no win no fee outfit, suggesting the monthly charge for a current account, which includes stuff you didn't ask for, eg breakdown cover etc is not legal and the banks have to repay such charges. Anyone know anything about this? Andy Can I correct your initial post : I've received some email spam. Quote Link to comment Share on other sites More sharing options...
Doggone Posted March 11, 2016 Author Report Share Posted March 11, 2016 I know it's spam, ie unsolicited. What I was asking was, is there any truth in it? Andy Quote Link to comment Share on other sites More sharing options...
robbiep Posted March 11, 2016 Report Share Posted March 11, 2016 None at all. Think about it. If it had been declared illegal then refunds would have been made automatically, and your bank wouldn't still be charging you for a packaged account. Quote Link to comment Share on other sites More sharing options...
Doggone Posted March 11, 2016 Author Report Share Posted March 11, 2016 Might be a complete coincidence, but within 2 hrs of receiving the spam email, I received a communication from my bank asking me to check that I was still registered for the free perks, which I didn't register for in the first place. Andy Quote Link to comment Share on other sites More sharing options...
LondonLuke Posted March 11, 2016 Report Share Posted March 11, 2016 Here we witness why never to take PW advice. Unfortunately roddiep has just given you totally incorrect advice. Martin Lewis and others have been talking about this quite a lot and people have been reclaiming against charges which were from bundled bank accounts. Details here -http://www.telegraph.co.uk/finance/personalfinance/bank-accounts/11630332/Packaged-bank-accounts-could-you-get-a-1500-refund.html Quote Link to comment Share on other sites More sharing options...
Doggone Posted March 11, 2016 Author Report Share Posted March 11, 2016 (edited) Thanks Luke, just looked it up in moneysavingexpert.com, and it sounds much the same as the ppi scam. Just got to decide whether to try myself or get someone to act for me. Don't know if I could stand the stress doing it myself. Andy Edited March 11, 2016 by Doggone Quote Link to comment Share on other sites More sharing options...
arjimlad Posted March 11, 2016 Report Share Posted March 11, 2016 Stand the stress ? It's easy - don't fall for the touts.. Read this http://www.financial-ombudsman.org.uk/publications/technical_notes/packaged-bank-accounts.html and fill yer boots. Quote Link to comment Share on other sites More sharing options...
BangBangNik Posted March 11, 2016 Report Share Posted March 11, 2016 I've just put a claim in for this with a website called resolver, it is something to do with money saving expert and was effortless. Just select your bank, type of account and answer a few question and it generates the email and sends it off for you. I got a letter from my bank within a week saying they had received my complaint and will investigate. Quote Link to comment Share on other sites More sharing options...
Rewulf Posted March 11, 2016 Report Share Posted March 11, 2016 Ive been getting unsolicited emails ,phone calls and texts for over a year now regarding this. They dont actually know you have this type of account unless you tell them. Heres the rub. I actually like my Barclays active account at £15 per month. The RAC cover ,holiday cover,mobile phone cover,gadget cover and appliance cover are all top notch products that would cost more than £15 per month. So, thats what I tell them when they call. A little perplexed,they usually ask if I still want to claim against the bank? I cant stand a hypocrite though. Quote Link to comment Share on other sites More sharing options...
Cranfield Posted March 11, 2016 Report Share Posted March 11, 2016 I have had a "packaged" bank account for about 5 years, I pay £10 per month and part of the benefits I receive are breakdown cover for any vehicle I own, or am travelling in (UK and Europe) and Worldwide Travel Insurance for up to 30 day trips (no limit on how many pa) and longer trips can be added for a very small supplement ( extra 12 days in USA, making it a 6 weeks trip, cost £10). As we have a joint account, these benefits apply to my wife as well. There are loads of other things regarding mobile phone/tablet insurance, identity theft, cheap overdrafts/loans, etc., which don't really interest me. The first two benefits cost me £120pa, to get them in the open market would cost me over £300 (I have looked), so I consider it a good deal. I asked for this account, had no pressure from the Bank, had to specifically sign paperwork, so I can't really understand how it can be "missold". Quote Link to comment Share on other sites More sharing options...
Aled Posted March 11, 2016 Report Share Posted March 11, 2016 Ok, I agree with those above who suggest caution. However I kept getting txt's, email and phone calls regarding PPI. So in the end I had a look myself, they were correct, and off my own work, I've had over £2500 back it gives me great satisfaction to tell the PPI cold callers that they were right, and that I had now had all my PPI money back! Take from that what you will. Cheers Aled Quote Link to comment Share on other sites More sharing options...
CharlieT Posted March 11, 2016 Report Share Posted March 11, 2016 Somewhat like Cranfield, I have had a Lloyds "packaged" account ever since they came out. I requested it and it suits my needs and saves me money. For the past few years (since the ombudsman ruling), Lloyds writes to me every year asking if I still wish to maintain the account. Being happy with the arrangement I have always replied yes. Therefore, I, like anyone else who requested such an account or has confirmed they wish to continue with it, will not qualify to make a claim for misselling. However, those who were genuinely mis-sold can and should make a claim. Quote Link to comment Share on other sites More sharing options...
davewh100 Posted March 11, 2016 Report Share Posted March 11, 2016 just had this myself then right at the end they wanted £499 pounds from a card said you would get this back if your successfully to big a risk Quote Link to comment Share on other sites More sharing options...
CharlieT Posted March 11, 2016 Report Share Posted March 11, 2016 just had this myself then right at the end they wanted £499 pounds from a card said you would get this back if your successfully to big a risk There's a scam if there ever was one ! Quote Link to comment Share on other sites More sharing options...
LondonLuke Posted March 11, 2016 Report Share Posted March 11, 2016 I have had a "packaged" bank account for about 5 years, I pay £10 per month and part of the benefits I receive are breakdown cover for any vehicle I own, or am travelling in (UK and Europe) and Worldwide Travel Insurance for up to 30 day trips (no limit on how many pa) and longer trips can be added for a very small supplement ( extra 12 days in USA, making it a 6 weeks trip, cost £10). As we have a joint account, these benefits apply to my wife as well. There are loads of other things regarding mobile phone/tablet insurance, identity theft, cheap overdrafts/loans, etc., which don't really interest me. The first two benefits cost me £120pa, to get them in the open market would cost me over £300 (I have looked), so I consider it a good deal. I asked for this account, had no pressure from the Bank, had to specifically sign paperwork, so I can't really understand how it can be "missold". I think the misselling comes in when people won't be covered, or are told they must sign up to this account to be approved for a loan application, don't understand the benefits, don't know that there are other free accounts - and all this. Those not mis-sold have no issue and need not claim but those who have, can. Quote Link to comment Share on other sites More sharing options...
Doggone Posted March 11, 2016 Author Report Share Posted March 11, 2016 Just to clarify a bit. I've had this personal current account since May 1997, when it cost £5 a month. The only perk was £100 free overdraft and interest paid on credit balances. Over the years it has crept up to £13.50 a month. I was never asked if I wanted the so called perks or offered an account which I didn't have to have them. In fact they gave the impression they were free perks added on to your account. I've always been in the AA, had saga holiday insurance when I could afford holidays, I look after my phone etc etc So, if I'm paying these insurances, I don't need, want or indeed ever asked for, then yes, I think they are having my leg up and I deserve some recompense. Andy Quote Link to comment Share on other sites More sharing options...
AVB Posted March 11, 2016 Report Share Posted March 11, 2016 The fee for a standard account at the Bank I work for is £120/month. You wouldn't want to know what you (don't) get for that amount! Quote Link to comment Share on other sites More sharing options...
oldypigeonpopper Posted March 11, 2016 Report Share Posted March 11, 2016 I've received an email from a no win no fee outfit, suggesting the monthly charge for a current account, which includes stuff you didn't ask for, eg breakdown cover etc is not legal and the banks have to repay such charges. Anyone know anything about this? Andy hello, there was a report on the news today and from what i gather have 7 days to apply. i had an account with Lloyds for over 10 years and paid £5 per month breakdown/holiday insurance etc, maybe i can apply? Quote Link to comment Share on other sites More sharing options...
NorfolkAYA Posted March 11, 2016 Report Share Posted March 11, 2016 On this, I bank with natwest so I sent them an email saying that I beleive I was miss sold a package account which I was, they agreed and 5 days later they refunded me £980. Quote Link to comment Share on other sites More sharing options...
Doggone Posted March 11, 2016 Author Report Share Posted March 11, 2016 On this, I bank with natwest so I sent them an email saying that I beleive I was miss sold a package account which I was, they agreed and 5 days later they refunded me £980. Great result, I'm going to write to my bank initially and hope I get a similar result. Andy Quote Link to comment Share on other sites More sharing options...
NorfolkAYA Posted March 12, 2016 Report Share Posted March 12, 2016 Great result, I'm going to write to my bank initially and hope I get a similar result. Andy They told me I had to upgrade my account for a loan which was not true. Can't fault them really, they new they had done wrong and re funded me with no hassle. Top service from natwest 👍 Quote Link to comment Share on other sites More sharing options...
guest1957 Posted March 12, 2016 Report Share Posted March 12, 2016 The fee for a standard account at the Bank I work for is £120/month. You wouldn't want to know what you (don't) get for that amount! Hoare? Quote Link to comment Share on other sites More sharing options...
spanj Posted March 12, 2016 Report Share Posted March 12, 2016 Hoare? No, hes a banker Quote Link to comment Share on other sites More sharing options...
BRYAN3 Posted March 13, 2016 Report Share Posted March 13, 2016 This is very interesting to me. I have been paying £6 + every month for years for Barclays Additions. When I tried to register over the phone years ago,going through all the options ad pressing numbers on the phone etc,I gave up. The system just would not let me set it up. Now,two days ago I received a letter stating the account is to be re-named and they will take £9 each month unless I cancel. So I intend to cancel next week. I do wonder if the original + thing was miss-sold. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.