PACKAGED BANK ACCOUNTS (PBAs)
Was your Packaged Bank Account (PBA) mis-sold?
- Are you paying a monthly fee for your bank account?
- Was your bank account "upgraded" from a free account?
- Were all benefits explained to you?
- Were you told you could have a free bank account instead?
- Were you told you had to have it to improve your credit score?
PBAs are the most complained about financial product after PPI. Millions of these accounts have been sold over the last 15+ years, and whilst some people have seen the benefits of having breakdown cover, travel insurance and mobile phone insurance included in their monthly account fee, others have felt they were a waste of money. Many people weren't even told their account was being "upgraded" having held a free account for many years. If your bank did not provide you with clear and fair information for you to make an informed decision, your bank account could have been mis-sold and you could be entitled to a refund.