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Reclaim Packaged Bank Accounts
Comments
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Thank you to Martin Lewis and Resolve - I emailed my bank to complain on Saturday and was phoned back within 24 hrs.
I explained why I thought I had been pressured into signing up for the account 4 years ago. I also received a welcome pack at the time. I was asked if I had taken advantage of any of the benefits and I had registered my phone at the time.
The bank representative said he would look into it and phone me back to confirm his findings, which he did a few hours later.
Today I was reimbursed £1167.
:j:T
This is actually a post from someone needing help on a packaged account complaint, not a topic for listing wins. Well done on yours, sounds like an autopay given you knew about and used the package benefits so easy £ for you.Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Thank you to Martin Lewis and Resolve - I emailed my bank (Barclays) on 4th July 2016 to complain about my packaged account and received a letter asking for more information followed a few days later by a text message to speak to a member of their team. The whole matter was resolved by 25th July and my account was credited with £3200.0
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Can I ask what the timebar limit is?
I am claiming for being missold a packaged bank account which started in 2004. I changed it in 2011 to a non-fee account with the same bank and I complained about the account May 2015.
What date will the claim be assessed from?0 -
Once you have complained and been rejected you are simply precluded from making the same complaint ever again.foolofbeans wrote: »I complained about the account May 2015.
What date will the claim be assessed from?
Time bars only come into play when you have yet to complain at all, but there are verifiable reasons why you should reasonably have been already aware of reasons to complain before now.
Or do you mean you cancelled the account in May 2015? If this is the case, then a timebar may well already be applied to any complaint you might make now...0 -
foolofbeans wrote: »Can I ask what the timebar limit is?
I am claiming for being missold a packaged bank account which started in 2004. I changed it in 2011 to a non-fee account with the same bank and I complained about the account May 2015.
What date will the claim be assessed from?
The time bar rules are 6 years from the event or three years from when you should have been aware,
If you changed the account in 2011 then that proves you knew about it allowing the 3 years time bar clock to start ticking. If you complained 4+ years later the bank can invoke a time bar on your complaint on the basis you knew about it and could have complained within 3 years of the account being changedSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Why would the Bank now impose a time bar on a complaint made in May 2015?If you changed the account in 2011 then that proves you knew about it allowing the 3 years time bar clock to start ticking. If you complained 4+ years later the bank can invoke a time bar on your complaintfoolofbeans wrote: »I complained about the account May 2015.0 -
If the complaint was in May 2015 then you would expect it to have had an answer by now. That would state if they are going to timebar it or not.
The dates certainly are within the timebar range (more than 6 years from purchase and more than 3 years from being reasonably aware of an issue - the change of account triggers the start of the three year period). However, it is up to the bank whether they choose to apply the timebar or not. Most do with packaged bank accounts.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Moneyineptitude wrote: »Why would the Bank now impose a time bar on a complaint made in May 2015?
Because the OP clearly knew about the account in 2011 (as they closed the paid for one) meaning under DISP 2.8.2 the time bar can be invoked if the complaint was made more than
"three years from the date on which the complainant became aware (or ought reasonably to have become aware) that he had cause for complaint;"
OP was aware they had reason for complaint in 2011 (they closed the account) and May 2015 is more than 3 years since. I took from the OP asking about the timebar limit the bank might have rejected it due to this.Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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