Reclaiming package account fee Question

Legacy_user · 22 April 2017 at 4:36PM

Hi

I've read through the MSE newsletters about the package account fees reclaim but Ive a question that doesn't appear to have been put forward for guidance on.

Question:
What if you do not have statements for when the first fee was made - back as far as 1987? How to proceed to try to reclaim fees in these circumstances?

Example reason for possible reclaim reasons details;
1/
Account holders moves from one area to another in Dec. 1986 and uses Lloyds (before move and after). At some date in '87 he and his partner require an overdraft and are told to upgrade the account and take out a credit card for this to happen. They do not have any statements going back to this period 1986/87 - nor for the years up to going 'paperless' with "On-Line Banking".

2/
ALSO in that time Lloyds also took over the TSB and became LloydsTSB. When Lloyds broke from TSB the account holders were not switched back to Lloyds but transferred to TSB and have been so since. Account fees have continued as prior.

3/
The package account number has remained the same when with Lloyds, LloydsTSB and now TSB. The account has been 'upgraded' during this time (1986 to present day) from Classic THROUGH to Gold (possibly) to Platinum and presently Premium - being either told it was a requirement when extra OD facilities were required or just upgraded (Platinum to Premier) because the Platinum account was no longer being kept by LloydsTSB.

jonesMUFCforever · 22 April 2017 at 4:46PM

Paragraph 3 is totally wrong - do you want to try again?
You can show of course that they ''insisted'' that you upgraded?
For example the Premier account had a interest free £500 o/d and a reduced APR over say a classic account and of course you had the addons such as AA, holiday insurance and mobile phone insurance.

Good luck with your claim but get your story right first.

System · 22 April 2017 at 5:12PM

Thanks for the input.

Sorry... but you've lost me regarding paragraph 3 being totally wrong. I'm talking about a period from 1987 for the first account upgrade from Classic to Gold. The account upgrade AND credit card because of a request for increased overdraft... and a loan - - - I know, loan was not mentioned above. I recall being told I couldn't have either (OD or loan) if I didn't take the credit card and upgrade the account. I'm not looking to give many personal details for what has gone on over a period of 30 years

Not looking to 'get the story right' at this time but more interested in 'guidance' as to how to proceed for a possible claim when not having the initial statement from 1987 etc., (30 years ago) as is stated as required in the Guidance Notes on the MSE website info for this.

Do I, for example, contact Lloyds OR TSB and ask for original account records/information of when the 'upgrades' and changes occured? Do I need the first statement to be able to make a claim? Can I claim from 1987? If so, how to... if not then at what period of time could I?

Do I put in a reclaim against Lloyds or TSB?
Do I make separate claims against each separately? - or is it Lloyds only as they were the original 'supplier' of the account in 1986 and TSB 'inherited' the account when Lloyds split TSB from them?...

eskbanker · 22 April 2017 at 7:56PM

wirehawker wrote: »

At some date in '87 he and his partner require an overdraft and are told to upgrade the account and take out a credit card for this to happen. They do not have any statements going back to this period 1986/87

Statements by themselves aren't the be all and end all, it'll be a matter of record that the account was upgraded on a certain date so the issue is demonstrating that the upgrade was missold - in this case it will be necessary to establish that it would have been possible to obtain an overdraft on the same terms without taking out the account upgrade (as per point 7 on the 'have I been missold' checklist in the MSE article).

Ben8282 · 23 April 2017 at 2:06AM

Firstly, it's PREMIER not PREMIUM. I have one of these accounts with Lloyds and am very happy with it.
Normal current accounts were not called Classic accounts back in 1986 due to the simple fact that there was only one sort of current account offered by the bank prior to the launch of the prestigious Gold Service accounts
If. like me, your Lloyds current account was upgraded to Gold in the late 80's or very early 90's then this was no mis-selling. Gold Service was their TOP product; to get it you had to apply and then a meeting by appointment was arranged much like upgrading to Private Banking today and it was that sort of meeting, not a 'if you want an overdraft you must have one of these accounts' type of meeting. If your upgrade was as far back as 1987 (not sure the Gold account was launched that early but it might have been) it would have been even more prestigious. You got a lower overdraft interest rate, a named account manager in branch and a gold coloured cheque guarantee card (later a debit card) with a higher cheque guarantee limit to impress your friends and colleagues in the 'yuppie' era..
I genuinely do not believe that in those days you would have been told that you had to upgrade to this type of account to get an overdraft facility and a loan any more than anybody would be told that they had to upgrade to Private Banking today to get an overdraft facility and a loan. In fact, I think 1987 was still the days of informal overdraft arrangements with the branch rather than 'authorised' overdraft limits shown on the statement.
Just out of curiosity, what type of credit card were you encouraged to take out at this meeting. I know exactly what was on offer at the time and am wondering which of the products you were offered?
Your comments about Lloyds and TSB abolishing the Platinum accounts are nonsense. It is the Gold and Premier which are no longer available to new customers; both banks still offer the Platinum accounts and they have never been withdrawn. When I received the invitation to upgrade from Platinum to Premier nothing was said to me about any intended withdrawal of the Platinum account.
On what basis are you planning to reclaim 30 years of fees? You have benefitted from the insurances etc, higher cheque guarantee card limits, lover overdraft rates (at least at the beginning) etc
I am also dubious at your claim that your pre-Lloyds/TSB account, which would have been opened at a Lloyds branch and the sort code has remained unchanged, was transferred to TSB after the split.

Reclaiming package account fee Question

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