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Help Your Claim - package account charges

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Hi, first time poster here!

I received a call earlier from a company named Help Your Claim. Now, I don't usually answer my phone to unknown numbers and if I do I've never been sucked in... before now. The chap was telling me how my bank (Lloyds) charge different account fees for offering the same services cheaper on different packages. For example; I have a Platinum account which includes a £250 overdraft, breakdown cover, mobile phone insurance and travel insurance and the charge is £17 a month. He was telling me that the same services are offered on the silver and gold accounts but the charges are less, so I could therefore get a refund for the extra that I've been paying. For approx 10 years that would be over £2k. But (BIG but).... Help Your Claim take a cut of 36%.

They are sending me some forms - to do this I had to give them my address and DOB - I'm hoping this wasn't a big mistake, but I was curious and wanted to research them further, obviously before I send back the signed forms.

Since researching them I've read that they're a bad company in terms of cold calling and the way they treat their staff. No surprises there.

If this is something I can do myself then I could definitely give it a go.... but I do have 2 young children so have little time on my hands. I suppose my question is - has anyone actually had any success with this company and got some money back? I know 36% is extortionate but I wonder if any money is better than no money?? I knew nothing about it a few hours ago.

Thanks in advance!

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    You can do anything a claims company can - the only difference is that you can do it faster, cheaper and easier.

    The only benefit of a claims company is that you will have less money to have to deposit into your piggy bank, so good if you're short on space to store cash.

    If you have a complaint about any of your products, contact the lender directly with them.
  • dunstonh
    dunstonh Posts: 116,859 Forumite
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    The chap was telling me how my bank (Lloyds) charge different account fees for offering the same services cheaper on different packages. For example; I have a Platinum account which includes a £250 overdraft, breakdown cover, mobile phone insurance and travel insurance and the charge is £17 a month. He was telling me that the same services are offered on the silver and gold accounts but the charges are less, so I could therefore get a refund for the extra that I've been paying.

    That is not quite true. Lloyds operate different levels of packages and have changed the packages over the years. You dont get the same on the different packages. So, a complaint on that particular basis is likely to fail.

    However, banks have had some misselling of packaged bank accounts. Not quite on the PPI scale and PBAs are actually considered quite normal and acceptable by the FOS. So, there are not product failures like PPI has.
    I suppose my question is - has anyone actually had any success with this company and got some money back?

    Lloyds, like most of the banks, have refunded money on some PBA complaints. And rejected it on others.
    I wonder if any money is better than no money??

    The CMC sends your complaint to the same address you would send it. It uses the same free of charge complaints process. All the CMC does is put a stamp on the envelope. Is that stamp and envelope worth 36% (plus 20% VAT as their service is vatable).
    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.
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