Reclaim Packaged Bank Accounts Article Discussion...

[MSE Sally]

This discussion relates to the new

Reclaim Packaged Bank Account Article

Please click reply to discuss, comment and report any successes and failures.

[Kilcaff]

So, you mention mis-selling of overdrafts, I've had an account with a premier tag and a charge for a number of years which if I remember rightly was due to a preferential overdraft rate. Would this put me in a position to reclaim.

In fact thinking on I think the bank first shunted me to an account of this type after not honouring my student account once I graduated (even though it was a 'graduate' account) and I had to move to keep the overdraft or risk a massive charge. Will have to dig about in my memory and see if I have my old statements to double check.

This is RBS by the way. I wondered why they told me they were stopping doing the insurance and mobile stuff on the direct banking call the other day...

[arcoiris81]

This is the exact same problem I had! I must dig through my old statements to work out how much and when, and find out what was supposed to be included... I didn't want or need any of it, I just didn't want to lose the overdraft facility. I'm not even sure I was using it at the time. It was presented to me as the only option to keep the overdraft, which was definitely not true as I later cancelled the fees and they didn't cancel my overdraft. I never asked for a refund though, this would be brilliant, as it was £100s wasted!

Fingers crossed for everybody who was sold a useless and unnecessary package to get your fees back...

[bidston]

hi, new to te forum so hope this is in the right place, i have a current account with the natwest which has a monthly charge of 12.95, had it for years don't even know how i got put on to it

now it does have a lot of perks but i am retired and living in thailand and have not been to the u.k. for over six years so it is not a lot of use

all my mail from the natwest goes to my u.k. address which is my sister's home were i stay when i return, do i have a claim do you think, appreciate any replies

[DominicM]

I had a First Direct "First Directory" subscription as part of my current account, does it qualify as a packaged bank account?

[lippy1923]

I think there is already a similar thread about this
http://forums.moneysavingexpert.com/....php?t=3719029

[Poor 40 Something]

I have two accounts - one a current, normal one and one a Graduate Additions, packaged account. This second account was pushed onto me (I was in tears during the conversation on the phone) back in about 2003 when I'd stopped being a student. The account has been in overdraft since then and I am only able to pay the minimum payment which means it's never going down with fees and interest taking up most of what I can afford to pay in. I cannot afford to pay off the overdraft of £2000 so I'm trapped really.
I have had a 'hypothetical' chat with the bank over the phone giving out no personal details and was told that I'm in the cheapest place and a loan, were it given, would cost more per month than I'm able to pay.
Anyone got any ideas as I really would like this stone cut away from my neck. Thanks

Edit to say ....seems like a lot of graduates are pushed into these types of accounts because they cannot afford to lose the overdraft.

[joanne13]

I have been a Natwest customer for 20+ years, but have a bad credit rating score.

However, Natwest allowed me to have an overdraft on my then basic account of £1200, I had difficulty paying this back, so Natwest advised me to take out a loan to pay the overdraft.

I agreed to this, but was told I would have to upgrade to an advantage gold account for the loan to go ahead, which again I agreed to, as I felt this was the only option to pay of the overdraft.

The loan was paid off in Feb 2010, but I still have an advantage account, as the £13 monthly charges have become the norm that I have never thought to question it until I read the comments in this thread.

I have never used any of the benefits as none of them apply to me, and when I recently applied for an overdraft of £100 I was refused because of my credit rating.

So, did Natwest miss sell this card to me, and if so what is the best way to complain?

Help from anyone in the know would be much appreciated

[naomi1010]

Hi. I'm just wondering, can we only go back 7 years or from when the account was opened? I have a Natwest account since 15 years old and was pushed onto the advantage Gold account as soon as I turned 18 - i'm now 33 but managed to cancel it a few years ago but has to have a good 8 years or so of paying the fees.
TIA

[BugsyBrowne]

Just waiting for the 'have you been misold a packaged account' adverts to start appearing on TV.

[DJ Walkers]

i had an account with barclays for around 10 years, last september i took out a debt relief order which included that account, can i claim back on that account?

[buffness]

I wrote a letter and sent it to Lloyds TSB via email stating that the added value accounts I have had with them have been mis-sold.

This was sent today at around 1pm.

They have just called (I'm surprised at how quickly this has happened) and said because they have paperwork signed by myself, they won't be able to refund the premiums. I explained the reasons as to why I said it was mis-sold and he said thats our final decision.

I asked for the decision to be sent to me via letter and include it as a final response so it can be taken to the FOS.

I'll keep you all updated as to what happens

[iainscomputer]

Originally Posted by bidston

hi, new to te forum so hope this is in the right place, i have a current account with the natwest which has a monthly charge of 12.95, had it for years don't even know how i got put on to it

now it does have a lot of perks but i am retired and living in thailand and have not been to the u.k. for over six years so it is not a lot of use

all my mail from the natwest goes to my u.k. address which is my sister's home were i stay when i return, do i have a claim do you think, appreciate any replies

I definately think you have a claim, but I would keep quiet about living in Thailand, as they are likely to shut your account for not being a UK resident. The fact you are retired & didnt want or use the perks should be good enough.

[adama1988]

In reference to Buffness' post I too wish to make a complaint to Lloyds however I can't find the email address on their website. Can anyone help me out?

[ses6jwg]

Here we go, not long before the ambulance chasers come along.

[JuicyJesus]

Originally Posted by ses6jwg

Here we go, not long before the ambulance chasers come along.

My actual response after opening this thread: "Oh for f*cks sake, here we go."

[ses6jwg]

I don't doubt that there are people out there who have been mis-sold these accounts.

But as someone who used to sell them I believe there are customers who have also mis-bought them as well.

Yes, we used to be targeted on these and actively promote them to customers. However, when sold properly and correctly as many were, we had to make customers aware of the exclusions of limitations, the requirement to register for certain benefits, excesses etc.

Now I now for FACT that I did all this, yet customers come in a year later and still haven't bothered to register etc, even though they've been advised to do so.

[innovate]

Originally Posted by ses6jwg

but as someone who used to sell them i believe there are customers who have also mis-bought them as well..

lol
.................................................. .....................

[mrs_brown_2011]

Originally Posted by adama1988

In reference to Buffness' post I too wish to make a complaint to Lloyds however I can't find the email address on their website. Can anyone help me out?

I'm with Lloyds too, I went to their website, chose a-z and looked for contact us. On there you can get a link to email them via their website. I actually was using the page to get the address, I'm going to send this via post. We have had an account since 2007.... fingers crossed....

[KezzaBodill]

When i took out a loan with HSBC, they said that to get a discounted interest rate on my loan, i had to upgrade to the plus account, this is now the advanced account.

Therefore since June 2006 i have been paying £12.95, the beneifits included have been no benefit at all.

I have a letter from HSBC stating that i would be refunded £1400 once my loan is paid off at the end of the term.

Would this account be classed as miss-sold and should they also pay me the interest gained on said money paid.

Any advice would be helpful