Packaged Bank Account.
dickeggsy
Posts: 1 Newbie
hi all,
i recently put in a claim against Barclay's for the fees my wife and i had been paying on a packaged account going back to 2000. we believe the packaged account was mis-sold as we were told we had to take it out in order to get an increase on an overdraft.. the total amount claimed for was 6018 GBP.
The packaged account has been renamed twice since 2000 and Barclays upheld our claim on the faccount but only until it changed names the first time and offered us 660 GBP, but they have withheld payment on the rest of the account saying we agreed to the changes which i explained to them we hadn't.
In effect they are saying it is three separate accounts but i am saying it is one account as it has the same account number. i hope that makes sense.
I am after some advice on what to do now. Do i put in a claim for the rest of the money or go to the ombudsman to try and get a better offer.
Any advice would be appreciated.
i recently put in a claim against Barclay's for the fees my wife and i had been paying on a packaged account going back to 2000. we believe the packaged account was mis-sold as we were told we had to take it out in order to get an increase on an overdraft.. the total amount claimed for was 6018 GBP.
The packaged account has been renamed twice since 2000 and Barclays upheld our claim on the faccount but only until it changed names the first time and offered us 660 GBP, but they have withheld payment on the rest of the account saying we agreed to the changes which i explained to them we hadn't.
In effect they are saying it is three separate accounts but i am saying it is one account as it has the same account number. i hope that makes sense.
I am after some advice on what to do now. Do i put in a claim for the rest of the money or go to the ombudsman to try and get a better offer.
Any advice would be appreciated.
0
Comments
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The response from Barclays is typical of what is expected as the previous changes are effectively timebarred (if the bank chooses to).
You have 6 years from the sale of the product or three years from being reasonably aware of an issue to raise a complaint (whichever gives longer). A change in packaged account time has been used by the banks successfully to trigger the three year clock.
it makes sense but you are wrong. The account number is not relevant. Each package account sale stands alone. So, after moving from one package account to the next, there is a window of 3 years to complain about that previous package account.n effect they are saying it is three separate accounts but i am saying it is one account as it has the same account number. i hope that makes sense.I am after some advice on what to do now. Do i put in a claim for the rest of the money or go to the ombudsman to try and get a better offer.
You have already put your complaint in and it was part upheld, part rejected. Your only choices now are to accept or go to the FOS. We know the FOS has been accepting change of package account dates as a trigger for the 3 year time bar. So, your odds of success are limited. However, we have no access to any of your files or any other information that may be applicable. So, we cannot say you would be rejected as there may be something else we dont know about. However, the odds are certainly against you.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
i wrote to RBS on1December 2016. My complaint went back to 1999 when my bank manager advised a Royalties Gold account was best for us ( joint account with my wife) This account was then changed to Royalties Premier then Platinum all on the advice of the bank and we were stupid enough to go along with it. My complaint was that we were never made aware of alternatives to fee paying accounts and believed that any accounts had to be paid for.
I kept the letter very simple. On 27 January my wife took a phone call from RBS Complaints Department. She said the lady was extremely persistent in suggesting the bank had done no wrong and it was us who wanted these accounts. My wife stuck to her guns stating she knew exactly what was said by our local bank and did not like the suggestion she was lying. She made the point it would appear the days of trusting the bank was acting in the interests of their customers was long gone.
On 3 February we received a letter from RBS ...."Following my investigation and taking into consideration the information that you provided us, I am able to agree with the complaint that you have raised". The next paragraph was the important one if you are reclaiming Packaged Account fees.
" I FOUND THAT YOU MAY NOT HAVE BEEN AWARE OF FEE FREE ALTERNATIVE ACCOUNT......"
"To put matters right I have credited your account with £4,132.95
My advice is if you are writing, keep it simple, if they phone you, stick to your guns. After hearing of my success my mate phoned in his complaint. Good luck and remember you are only asking back for what is yours.0 -
hi I am new to this, i need to ask a question, I applied for my package bank account online as it was offering me an overdraft, I have never used the extras on the account, can is till claim even though I was not missold?
your help would be greatly appreciated.0 -
I don't think you can claim mis selling if you weren't mis sold.0
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Never_give_up wrote: »i wrote to RBS on1December 2016. My complaint went back to 1999 when my bank manager advised a Royalties Gold account was best for us ( joint account with my wife) This account was then changed to Royalties Premier then Platinum all on the advice of the bank and we were stupid enough to go along with it. My complaint was that we were never made aware of alternatives to fee paying accounts and believed that any accounts had to be paid for.
I kept the letter very simple. On 27 January my wife took a phone call from RBS Complaints Department. She said the lady was extremely persistent in suggesting the bank had done no wrong and it was us who wanted these accounts. My wife stuck to her guns stating she knew exactly what was said by our local bank and did not like the suggestion she was lying. She made the point it would appear the days of trusting the bank was acting in the interests of their customers was long gone.
On 3 February we received a letter from RBS ...."Following my investigation and taking into consideration the information that you provided us, I am able to agree with the complaint that you have raised". The next paragraph was the important one if you are reclaiming Packaged Account fees.
" I FOUND THAT YOU MAY NOT HAVE BEEN AWARE OF FEE FREE ALTERNATIVE ACCOUNT......"
"To put matters right I have credited your account with £4,132.95
My advice is if you are writing, keep it simple, if they phone you, stick to your guns. After hearing of my success my mate phoned in his complaint. Good luck and remember you are only asking back for what is yours.
I'm afraid the bit in bold is completely wrong. You are COMPLAINING about the account, saying it was miss-sold to you. You have no right to any money, no money is due to you.
Each case is judged on the individual merits and if the bank agree, they will refund, if not, they won't. You then have the right, within 6 months, to refer the case to the FOS for an independent review.
Do note that in cases like yours it comes down to the bank deciding not to fight it. It would take seconds in branch to find out about the fee free accounts (of which each bank will offer normally 2 or even 3 as well as different tiers of premium accounts) so people who wish to complain need to focus on stronger complaint reasons like benefits being useless (e.g. if you have breakdown cover but no car or travel insurance but you have medical reasons why it would never pay out)0 -
K_WILLIAMS wrote: »hi I am new to this, i need to ask a question, I applied for my package bank account online as it was offering me an overdraft, I have never used the extras on the account, can is till claim even though I was not missold?
your help would be greatly appreciated.
Unfortunately this is a case where you miss-bought - if you upgraded online you weren't sold anything so it is unlikely a complaint would succeed0 -
K_WILLIAMS wrote: »hi I am new to this, i need to ask a question, I applied for my package bank account online as it was offering me an overdraft, I have never used the extras on the account, can is till claim even though I was not missold?
your help would be greatly appreciated.
How do you think it was missold to you?
No staff member was involved. No-one at the bank told you to do it. You chose to have it.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
K_WILLIAMS wrote: »I have never used the extras on the account, can is till claim even though I was not missold?Deleted_User wrote: »I don't think you can claim mis selling if you weren't mis sold.
zx81 is correct.How do you think it was missold to you?
Dunston, the OP quite clearly admits that he doesn't think he was mis-sold.
Simply not using the benefits associated with the account would not automatically entitle you to a refund as that is your own choice. Only if the benefits were unsuitable or unavailable to you would you stand any chance of making a successful complaint.0 -
Hi, I'm new to the forums but after a bit of help. Back in 2005 I entered into a DMP through gregory pennington (no longer with them!) who told me I had to open a basic account with RBS, but because of poor credit this would cost £12.50 per month. I had this account for just over 3 years. I have recently contacted both GPs and RBS, both denying the account is their accountability? would the type of account fall into the mis-selling of package accounts? if so where should I go now?0
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Hi, I'm new to the forums but after a bit of help. Back in 2005 I entered into a DMP through gregory pennington (no longer with them!) who told me I had to open a basic account with RBS, but because of poor credit this would cost £12.50 per month. I had this account for just over 3 years. I have recently contacted both GPs and RBS, both denying the account is their accountability? would the type of account fall into the mis-selling of package accounts? if so where should I go now?
How was it mis-sold? Forget the product. All products have the potential to be mis-sold. Some more than others obviously. However, if you are making an allegation of wrongdoing then you need to state why you think they did wrong and, in this case, what they should have done.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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