Time limit to complain about Package Bank Account

I filled in the Resolver form to complain about Missold Package Bank account. Bank got back to me within 24hrs, asked me questions on phone about my complaint. Said they would get back to me. Called back in 1 hour and rejected claim as he said Banks have 6 years for you to complain about missold Package Bank account. I opened account in 2009 - so had until 2015 to complain?? What are people's thoughts please


  • dunstonhdunstonh Forumite
    112.6K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Most PBA complaints are getting timebarred now.

    You have to complain within 6 years of opening the account or within 3 years of being aware of an issue, whichever is longer. Both rules need to be met to timebar.

    So, in your case, they can tick the 6 year timescale box but they are required to tick the 3 year timescale box as well. So, what did they mention about the three year timebar? Most banks seem to be covering this off by referring to the annual benefit statements which have been going out many years. Or if you changed to a different bank or bank account.
    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.
  • The 6 and 3 year time bar rules are set in stone, 6 years from point of sale, 3 years from when you had reasonable knowledge of a reason to complain (which can be triggered by closing the account, the bank sending you a letter telling you the account costs/benefits etc).

    If they wrote to you more than 3 years ago detailing what you were paying for it is sufficient for them to be able to trigger the 3 year time bar as you would have reasonably known that you had the account and could have complained then.

    Unless it's an old account now closed and you moved after closing and they sent the letters to an old address so you didn't get them, your complaint is over
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