Packaged bank account from 2010

yipikaye

I made a complaint about a missold packaged bank account, which was open from 2008-2010.

A lot of the features at the time were not applicable due to my age, eg i didnt drive at the time.

The bank has rejected this complaint on the basis it is time barred.

I've only realised this was missold in the last few months, will I have a chance if going to the Ombusman?


Or is there a rule that precludes claims beyond a certain point?

eskbanker

Not sure why this is such a theme today but this is at least the fourth thread on this normally relatively infrequent subject!

Anyway, to answer the question, no, FOS won't overrule the bank if the complaint was legitimately time-barred (as this would have been if the account was closed in 2010, thereby ceasing to pay the charges), as explained in the linked sections of the FCA handbook at:

https://forums.moneysavingexpert.com/discussion/comment/76285395#Comment_76285395

colsten

eskbanker wrote: »

Not sure why this is such a theme today but this is at least the fourth thread on this normally relatively infrequent subject!

At a guess, I'd say because of this: https://www.moneysavingexpert.com/news/2019/09/martin---ppi-s-over--but-i-ve-thirteen-more-ways-you-can-reclaim/

18cc

i paid a tip to a waiter in 1979 but i have found out recently the restaurant has a no tipping policy is there any way i can claim it back?

Ben8282

Why have you waited so long to realise that this account was mis-sold?
Are we to believe that one day 9 years after you closed the account you just woke up and thought to yourself 'my packaged bank account was mis-sold in 2008?'
Don't get the comment about not driving because of your age.
The minimum age for driving is 17.
How old were you when you were mis-sold this packaged bank account?

yipikaye

Thanks all for the responses, and esk to your link to the other thread.

Ben at the time, I hadn't passed my driving test.

I felt that was a rule that said if "you had become aware in the last 3 years" that it was mis-sold.

It is the publicity in the aftermath of the 29th of August that has drawn my attention to the fact that this account from 2010 was not suitable, and in actual fact was terrible value with a lot of benefits that were not required eg break down cover.

On that basis, surely it could be considered.

YorkshireBoy

yipikaye wrote: »

...was terrible value with a lot of benefits that were not required eg break down cover.

On that basis, surely it could be considered.

Not really. I'm willing to bet the breakdown cover was personal, rather than vehicle, based. As such, every time you sat in the passenger seat of a vehicle both you and the driver journeyed safe in the knowledge that you had breakdown cover provided by your bank.

eskbanker

yipikaye wrote: »

I felt that was a rule that said if "you had become aware in the last 3 years" that it was mis-sold.

It is the publicity in the aftermath of the 29th of August that has drawn my attention to the fact that this account from 2010 was not suitable, and in actual fact was terrible value with a lot of benefits that were not required eg break down cover.

On that basis, surely it could be considered.

But the logic goes that if you closed the account in 2010, and presumably moved to one that didn't charge fees, that meant that, by virtue of doing this, you were then aware that fee-free accounts were both available and suitable for you and therefore the original account had been missold if it had been presented to you as necessary or appropriate. You may not have joined up the dots at the time and cottoned on to the existence of an opportunity to reclaim that became more evident when publicised on here and elsewhere, but that's a slightly different point from becoming "aware (or ought reasonably to have become aware) that he had cause for complaint".