Packaged Accounts

follyfoot

Hello does anyone know how far back you can claim for packaged account charges? I had a packaged account in 1995 or 1996 and cancelled it in 2004. I can find the statements from about 2002 but not any further back. Thanks

Aquamania

follyfoot wrote: »

Hello does anyone know how far back you can claim for packaged account charges? I had a packaged account in 1995 or 1996 and cancelled it in 2004. I can find the statements from about 2002 but not any further back. Thanks

You cannot claim for having a packaged account. You may be able to claim for having been mis-sold a product.

The FOS has general time-limits within which you should complain to them.

As well as a 6 month time limit since the business has given their final response (and quoted the six month limit) - this obviously does not apply here - the other time limit is 6 years from the event the consumer is complaining about or, if later, 3 years from when the consumer could reasonably have known they had cause to complain.

(Special rules apply to mortgage endowment policies, and the FOS does have discretion to look at complaints outside of the above time limits in 'exceptional circumstances')

Now whilst this does not answer your question directly, the financial institution will be fully aware of these time limits the FOS operate and will therefore probably operate on a similar policy.

But if you feel you were mis-sold, (and you have the evidence, as it is unlikely the financial institution will have any after such a long since the account was closed) then why not make a complaint and see what happens? The worst they can do is refuse your complaint due to being so long ago.

If you have no evidence to support an allegation of mis-selling of the product, I would suggest you don't bother wasting your time.