Amazing Success Story - Claiming Back Account Fees

TheSilverStag918

Not too sure why I am being chastised a little. I am sharing the story so others in similar situations can do the same. We are not customers to our banks, we are just revenue.

I have not attempted to hurt the system or take advantage.

When I opened my account, the ONLY reason I took a pay-for account was because I was told I would likely not get approved for a fee-free - this was false (this was 2009, I was 19).
I had no money to travel, no car, no overdraft - there was not a single benefit for me having said account. At the time I was also unemployed for three months having just left college - it was a mis-sell. I have had a platinum account and the complaints handler was insistent that I have that investigated too - I said no, this upgrade was voluntary and I wanted all of these benefits, I am not dishonest or out for what I could get - I am just sharing a positive story where I got something back that was sold to me naughtily.

takman

phil5529 wrote: »

Not too sure why I am being chastised a little. I am sharing the story so others in similar situations can do the same. We are not customers to our banks, we are just revenue.

I have not attempted to hurt the system or take advantage.

When I opened my account, the ONLY reason I took a pay-for account was because I was told I would likely not get approved for a fee-free - this was false (this was 2009, I was 19).
I had no money to travel, no car, no overdraft - there was not a single benefit for me having said account. At the time I was also unemployed for three months having just left college - it was a mis-sell. I have had a platinum account and the complaints handler was insistent that I have that investigated too - I said no, this upgrade was voluntary and I wanted all of these benefits, I am not dishonest or out for what I could get - I am just sharing a positive story where I got something back that was sold to me naughtily.

So if the only reason you got the account you had to pay for was to get approved then why didn't you then ask to downgrade the account if you didn't want to continue paying for it. Why did you continue to pay the fee for YEARS and take no action at all?.

TheSilverStag918

takman wrote: »

So if the only reason you got the account you had to pay for was to get approved then why didn't you then ask to downgrade the account if you didn't want to continue paying for it. Why did you continue to pay the fee for YEARS and take no action at all?.

I had no idea that I could downgrade.
To be perfectly honest, it was 8.99, it came out at the beginning of the month, after not very long it just becomes a boilerplate routine. You don't even notice you are paying it (at least I didn't).

Yes, should probably take better care of my finances but that is why I am here - I have a history of just not being that great with money, it is only in the last two years where I have been really trying hard to get ahead in this world, thank god I have a sensible wife. I work extremely hard to be frugle now to get out of the red.

Anyway, I now know it was miss-sold, I was told to get an account I didn't need to in order to make the bank more revenue and some commission for a saleswoman. I did not need the benefits, I did not use them for about 6 years until I needed to use the AA twice. Until last year my phone was worth less then the insurance excess. The only trips away for travel insurance I have been covered by my employer or it has been outside of Europe and I have purchased other insurance, I never had an overdraft until last year so no need for any interest free areas. For about 5 of the 7 years I had this account it was no benefit to me. It was miss-sold.
Not forgetting I was also encouraged to get the account as they said the paid for account will "improve my credit rating" - which I think was false but I don't know.


I am not sure why I am having to defend this.

ICan'tStandIt

phil5529 wrote: »

I am not sure why I am having to defend this.

That's the internet for you

I can see both sides here. Yes, you should have taken more notice of the money going out of your account every month and questioned whether you really needed the services you were paying for BUT the member of Lloyds bank staff spouting BS that your credit score would go up if you paid them a monthly account fee is the real issue here.

The account was originally mis-sold, so they are right to reimburse you the lot.

dunstonh

The account was originally mis-sold, so they are right to reimburse you the lot.

The redress method set by the regulator is not to refund the lot where a benefit has been used. The bank can deduct the cost of the benefit used from the redress.

Often you see upheld complaints with redress as the benefit outweighed the cost.