Packaged Bank Account refund if already used mobile insurance

dunstonh

However, don't believe banks are merely paying out in all such cases on the basis of the economics of fighting the claim.

Auto payouts are very common. The floor limit for firms will vary on current workload, area of complaint and chance of success and expected cost of a drawn out complaint. I know one bank that had a floor limit of £3000 for a period on PPI complaints. i.e. they auto paid out on complaints where the redress was under £3000 whether there were grounds for complaint or not.

it can lead to the difficult situation where you get banks fighting complaints that they should really be upholding and paying out on other complaints where they should be rejecting.

Nasqueron

Mersey wrote: »

However, don't believe banks are merely paying out in all such cases on the basis of the economics of fighting the claim. Mis-selling was admitted in my case, as I was not informed there would be a monthly fee for the account. It was also not below auto-payout amount, as it took them 11 weeks and it was over £2k.

Unless you work for the bank in the PPI division you don't know the floor limit for auto-pay, nor the reason why it took 11 weeks, they may simply be busy and took that long to look at it, decide not to fight and send you a cheque.

No-one will know why the bank paid out, the idea you were not told the bank account was paid for is possibly plausible, but if you were not told about it and then the first statement the next month showed a charge, you would logically call up the bank and ask why this account that you believed was free was actually being charged for or sooner when you read the welcome pack that explained all the package benefits and costs. For that reason it seems odd the bank would have specifically written and admitted a miss-sale on the basis you were told not told that charged for account had a fee.

Mersey_2

Nasqueron wrote: »

No-one will know why the bank paid out, the idea you were not told the bank account was paid for is possibly plausible,


For that reason it seems odd the bank would have specifically written and admitted a miss-sale on the basis you were told not told that charged for account had a fee.

Except, of course, myself who received the letter.


But thanks for your interest and speculation Nasqueron - I really needed you to believe me too.

[Deleted User]

Nasqueron wrote: »

it seems odd the bank would have specifically written and admitted a miss-sale on the basis you were told not told that charged for account had a fee.

The Banks never ever admit a mis-sale has taken place. The template uphold letters are carefully worded so that the Bank admits nothing and accepts no liability. They are prepared by the Banks' legal department specifically to avoid any question of further litigation.

I'd therefore very much like to read the text of the letter apparently received which says otherwise.

Mersey_2

Moneyineptitude wrote: »

The Banks never ever admit a mis-sale has taken place. The template uphold letters are carefully worded so that the Bank admits nothing and accepts no liability. They are prepared by the Banks' legal department specifically to avoid any question of further litigation.

I'd therefore very much like to read the text of the letter apparently received which says otherwise.

As a lawyer I can understand it's perfectly sensible for banks to adopt such an approach in most cases, from a risk management perspective.


However, I repeat - if it wasn't already obvious - I did not receive a standard template response.


Given your supposed curiosity, here's an extract from the response I received from NatWest:


"My investigation finds you were misinformed that you had to hold an Advantage Gold Account to increase your overdraft on the 2 January 2007. Please accept my sincere apologies. You have also explained that you were informed by a member of staff at the ******* branch that you were not told of any fee. Please accept my apologies that you were not advised during the conversation. There is a fee for this account and it appears you were not sent Refresher packs detailing the benefits of the account. We are investigating how this occurred. Please accept my sincere apologies."


[I realise I was perhaps rare in being able to state that I was called by an Italian-sounding gentleman from the ******* branch on a specific day as I'd noted it in my diary]


Your stance in all of your posts to OPs on here appears to be:


a) don't bother claiming, you have no chance;
b) [if they won] - oh you shouldn't have succeeded; oh and
c) you are right and all claimants seeking redress are inherently wrong, as is the independent Ombudsman, Martin Lewis, Which?, BBC Watchdog and any other body; and
d) terse at times & questioning the OPs' honesty and intelligence.


I suggest you read Martin Lewis' guide on this very site. He uses far stronger language than I have ever done, as he refers to the "lies" and "deceit" of bank staff mis-selling packaged accounts.


Even the British Bankers' Association rep has stated:


"As an industry we failed in this regard. The banks remain committed to helping anyone who was mis-sold PPI and packaged accounts in the past."


It's a bit late for them to worry about admitting liability, when their liabilities now top £35 Billion for this mis-selling "scandal" (Martin Lewis again).

GerryS

Rachel500 wrote: »

Hi,

Does anyone know if I can claim back money from a package bank account if I used the mobile insurance once? I was never asked in the beginning if I needed any of the cover for breakdown, holiday, boiler cover. Thanks in advance :money:

Yes you can. I used the car recovery service provided by RBS Royalties and still got a substantial four figure settlement going back to 1995.

Pink&fluffy

Moneyineptitude wrote: »

Any complaint is severely compromised if any of the benefits of the account have been used. The Bank were under no obligation to ask you if you needed the benefits, the issue is whether or not you used them.

this concerns me as I used the free "Netflix" with my bank account! But they changed the rules and removed, however that was the last product I used back in 2013, would this count? Or this a rhytorical question? I was told that by having this account it would raise my credit, which it has not...struggling full time student mum here in her last year! Childcare is so costly! Not to mention I'm looking for a job whilst in my final 8 weeks at uni! I need all the help I can get! Just found that I could claim all this back! But after reading this I'm non the wiser, so I feel the letter I have just written is N/A...anyone had any expierence with this?

dunstonh

this concerns me as I used the free "Netflix" with my bank account! But they changed the rules and removed, however that was the last product I used back in 2013, would this count?

if they uphold your complaint, they can deduct the cost of netflix from your redress payment.

They could also potentially apply a time bar as you didnt complain in 2013 (you have 3 years to complain from being reasonably aware of an issue - that clock started ticking in 2013).

I was told that by having this account it would raise my credit, which it has not

It doesnt as any current account (other than basic) is a credit account and if maintained correctly, does help your credit rating. The features of the account has no impact at all.

Ladybrady496

Rachel500 wrote: »

Hi,

Does anyone know if I can claim back money from a package bank account if I used the mobile insurance once? I was never asked in the beginning if I needed any of the cover for breakdown, holiday, boiler cover. Thanks in advance :money:

Just wondering how you got on with this claim? Just submitted a similar claim!

Ladybrady496

GerryS wrote: »

Yes you can. I used the car recovery service provided by RBS Royalties and still got a substantial four figure settlement going back to 1995.

On what grounds was yours a success if you used the services? Just submitted a hopeful complaint but used the phone insurance for a lost phone years ago.

TIA