Lloyds upheld claim but have awarded significantly less than they should have

beetledoggy

Hi, I've been successful in claiming against a Premier account with Lloyds, which I had for more than ten years and for which I was paying £25 a month. The bank have agreed it was mis-sold and told me today that they had upheld the claim, and the amount awarded was just over £700. Now, its great that the claim is upheld, but they haven't explained how they reached this figure. The last time I checked, I had paid £300 a year in fees, for over ten years. In my book the amount should be nearer £3000, and then add interest on.

Has anyone else had this, where the bank has upheld the claim but awarded a much lower amount than they should? I have been advised that I should appeal against the amount awarded. I suppose they can't change their mind and say they won't uphold the claim, so I've nothing to lose by appealing.

Anyone else had similar?
Thanks

dunstonh

Have you utilised any part of the package at any time you had it. With some packages, that can include lower overdraft charges/interest, cheaper loans etc. Not just things like registering the phone insurance etc.

You can ask Lloyds to explain the figure stating that you believe it not to be correct. They will then reply with a breakdown.

Another scenario could be that you have not had the premier account that long. You may have had a different account prior to that.

beetledoggy

Thanks for the info. I've had the account since Jan 2006. The bank emailed to say they upheld the claim, and said they would be writing with more details, but guess what, no letter yet. I'll give them to the end of the week and if the letter hasn't arrived I'll ring them again.
I haven't used any aspect of the package.