Packaged account mis-selling victims can claim compensation

iesous23 wrote: »

I currently pay for my hsbc advanced account, i have no problems paying and i will say that when i did enquire about it, the staff explained everything to me in detail, i was also pushed very hard by lloyds to open a packaged account with them, they did try very hard even when i flat out said no they carried on.

The thing i am going to say is that i think a lot of people nowadays know what they are signing up for, they just have no interest in spending ages in the bank and ignore bits of it. I've seen it before and then they complain because they want something for nothing. Nearly all people know what they pay for, shame that so many people will see they can make money from this and jump on the "i got mis-sold the account" bandwagon

Sounds like you're happy to pay for the insurance element sold with packaged account "benefits"

No way should packaged accounts be forced onto customers, we are not asking for "something for nothing". It is the banks getting "something for nothing" by using our deposits (earning a miserly rate of interest) to lend out or invest with

I have no problems with the bank using our money to make money, that's business. But I do have a problem with all the BS so-called benefit package they force on us.

If a customer wants to pay for all that, fine but let them just ask for it. Travel insurance policies and the like can be bought much cheaper elsewhere if you don't have to fund the huge amounts of commission the banks make when selling these.

I contacted Lloyds in January about this. I heard nothing so I followed it up with another letter. I then received a letter rejecting my claim but was advised to contact them again if I had further information. Since the person who handled my complaint completely mis-read what I had written and did not address any of the points, I telephoned the number given and spoke to someone. He assured me that he would pass it to his colleague. I then followed it up with a letter. This was in February and I've heard nothing since so I have now sent my complaint to the FOS. I doubt if they will come back to me anytime soon due to the large number of PPI claims being received by them. Given that I did not ask for the account, was told that my account was changing and then the payments rose from £8 to £25. I then learnt that I should not have been told that I had to take on the Gold then Premier Account with them. None of the services provided by this "expensive" account were of any use to me. I will update you if I ever get a satisfactory response or a conclusion.

hollow333 wrote: »

Mine was done in branch back in the late 90's, I had my meeting with the branch Manager to talk about a loan when I left the bank,

Does anyone think I have any recourse to this?

If I read this correctly, you were working for the bank when sold these accounts? If so, that fact together with the time that has elapsed is certainly going to work against you, unless you worked in a non-financial role.

OK, I knew you remained a customer so employment was the only meaning of left I thought appropriate!

People need to know that all bank staff nowadays are salespeople. They aren't authorised to give financial advice, but when they spend 15-20 minutes telling yuou how you need a product it is disingenuous for banks to then hide behind a form saying you've not had advice from them.