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    • LadyintheLibrary
    • By LadyintheLibrary 11th Oct 16, 11:55 AM
    • 5Posts
    • 4Thanks
    LadyintheLibrary
    Additions Packaged Account - timed out?
    • #1
    • 11th Oct 16, 11:55 AM
    Additions Packaged Account - timed out? 11th Oct 16 at 11:55 AM
    Barclays have just got back to me in response to a claim I made relating to an Additions account I had - first fee paid in 1996. It was in 2006 when a bank representative told me I really didn't need it so transferred me to a non- fee paying one. I was there to discuss a loan, and my overdraft - have the paperwork to support that. The letter states that I have been timed out and that I should have raised the issue in 2009. I never asked for an Additions account. and it wasn't until recently that I became aware of the packaged accounts issue. So unless there are exceptional circumstances as to why I haven't raised the matter before, my application for reimbursement hasn't been upheld. The letter also says that the FO probably won't be able to help either. The fees total around £500 approx.
Page 1
    • Moneyineptitude
    • By Moneyineptitude 11th Oct 16, 12:07 PM
    • 17,246 Posts
    • 7,783 Thanks
    Moneyineptitude
    • #2
    • 11th Oct 16, 12:07 PM
    • #2
    • 11th Oct 16, 12:07 PM
    You are time barred from complaint, I'm afraid.

    Time to move on from this...
    • Nasqueron
    • By Nasqueron 11th Oct 16, 12:20 PM
    • 2,988 Posts
    • 1,623 Thanks
    Nasqueron
    • #3
    • 11th Oct 16, 12:20 PM
    • #3
    • 11th Oct 16, 12:20 PM
    You have 6 years from taking out the account or 3 years from when you were reasonably aware of the issue (whichever is longer) to complain - outside of that the complaint can be time barred.

    If you didn't want the account the time to complain was in 1996 after you got your first monthly fee or in 2006 when you were told you were paying for the account and didn't need to be.

    This one needs to be put to bed, you won't get anything from them
    • dunstonh
    • By dunstonh 11th Oct 16, 12:45 PM
    • 85,141 Posts
    • 50,152 Thanks
    dunstonh
    • #4
    • 11th Oct 16, 12:45 PM
    • #4
    • 11th Oct 16, 12:45 PM
    It was in 2006 when a bank representative told me I really didn't need it so transferred me to a non- fee paying one.
    And that is important. It means it is a trigger point for the 3 year time bar rule. (the 6 year rule already applied as that expired in 2002 - both 3 and 6 year rules need to be met to allow a timebar)

    I never asked for an Additions account. and it wasn't until recently that I became aware of the packaged accounts issue.
    So, you did not feel you were mis-sold in 2006 but now you do. What has changed?

    The letter also says that the FO probably won't be able to help either.
    That is correct. The timebar seems valid and correct in this case. I wouldnt be too worried about it. The FOS uphold rate on packaged accounts is just 11%.

    Whilst certain consumer groups with a media presence harp on about packaged bank accounts, it is not seen as a major issue elsewhere. I was at a FOS meeting earlier in the year and the FOS said they have no problems with packaged bank accounts.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • LadyintheLibrary
    • By LadyintheLibrary 11th Oct 16, 3:55 PM
    • 5 Posts
    • 4 Thanks
    LadyintheLibrary
    • #5
    • 11th Oct 16, 3:55 PM
    • #5
    • 11th Oct 16, 3:55 PM
    Hi
    Many thanks for replies. Won't die wondering...
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