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Miss sold account
jonnypp
Posts: 2 Newbie
I have just learned that my Mother was miss sold a Barclays additions account.
6 years ago my Mother applied for a Barclays loan. Whilst at the branch she was told she would need to upgrade to an dditions account in order to be approved for the loan as she would need an overdraft facility. This account cost her £12.50 per month for a period of 5 years. This account was only closed as after 5 years my Mother was in the bank for another reason when she was asked why she had this additions account when she doesnt have a car, mobil phone or travel meaning she does not benefit from any of the accounts features. When she explained she needed it to receive her loan the personal banker said that this was not the case and that she had no need for the account and so downgraded her to a normal, no fee account.
I am furious about this as surely she has been miss sold this account and has paid in the region of £750 over a period of 5 years unnecessarily.
She was simply railroaded into this account by the personal banker selling her the loan. To boot my Mother is also profoundly deaf and classed as disabled which she made the banker aware of which in my opinion makes this hard sell even more disgusting.
My questions are:
Have FSA regulations been broken when my Mother was sold this account?
If so how do I go about complaining/claiming this money back?
I have only been made aware of this today but the account was changed over a year aglo, can I still try to recliam?
Many thanks for any help or tips anyone can offer.
6 years ago my Mother applied for a Barclays loan. Whilst at the branch she was told she would need to upgrade to an dditions account in order to be approved for the loan as she would need an overdraft facility. This account cost her £12.50 per month for a period of 5 years. This account was only closed as after 5 years my Mother was in the bank for another reason when she was asked why she had this additions account when she doesnt have a car, mobil phone or travel meaning she does not benefit from any of the accounts features. When she explained she needed it to receive her loan the personal banker said that this was not the case and that she had no need for the account and so downgraded her to a normal, no fee account.
I am furious about this as surely she has been miss sold this account and has paid in the region of £750 over a period of 5 years unnecessarily.
She was simply railroaded into this account by the personal banker selling her the loan. To boot my Mother is also profoundly deaf and classed as disabled which she made the banker aware of which in my opinion makes this hard sell even more disgusting.
My questions are:
Have FSA regulations been broken when my Mother was sold this account?
If so how do I go about complaining/claiming this money back?
I have only been made aware of this today but the account was changed over a year aglo, can I still try to recliam?
Many thanks for any help or tips anyone can offer.
0
Comments
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I think the Barclays select account would have had a discounted loan rate as part of the benefits at that time. If you add the fees and minus what she benefited from the loan then write to them and ask them about this and for a refund of charges based on what the account offers and what she didn't benefit from.
It has been done and there has been success doing this.0 -
Yes, was in the news a few years ago - there was a TV program at the time about Barclays pushing people into this account and refunding when challenged.
A few threads on the CAG site http://www.consumeractiongroup.co.uk/forum/barclays-bank/1915-barclays-additions-account-charges.html0
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