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packaged bank account fee refund

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Hi, Just tried getting my packaged bank account fees back with halifax which was miss-sold in order to get a mortgage. Followed the resolver template. They havent said that they disagree with the miss-selling but im out of time as I should have cancelled within 6 years of taking out the account. Also they say they sent an update every year of fees and what the account covers.  So no refund. Does this sound correct?  (they established I did not benefit/claim in over 10 years for any of the benefits available).  

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  • edited 10 July at 6:04PM
    NearlyoldNearlyold Forumite
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    edited 10 July at 6:04PM
    Yes it sounds correct - you have to complain either within 6 years of the event being complained about (ie when you first took out the packaged bank account, or if later, within 3 years of when you first became aware or should have been aware of an issue. In your case it must be more than 6 years since you first had the packaged bank account & more than 3 years since Halifax first sent you an update of the fees and what the account covers  - that was the point at which it is reasonable to assume you should have realised there was an issue. You have been time barred.
  • dunstonhdunstonh Forumite
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    They havent said that they disagree with the miss-selling but im out of time as I should have cancelled within 6 years of taking out the account. Also they say they sent an update every year of fees and what the account covers.  So no refund. Does this sound correct?  (

    Yes.  it is totally in line with expectation and meets the rules.

    The 3 & 6 year timebar  rule requires both rules to be met to allow your complaint to rejected as a time bar.   That is 6 years fro the date of sale AND more than 3 years from being reasonably aware of an issue.    The annual benefit statements are sufficient to start the 3 year clock.  Hence you are timebarred.

    (they established I did not benefit/claim in over 10 years for any of the benefits available).  

    They also established that they have been telling you annually that you can change your bank account if you wish.

    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.
  • trytryagain_2trytryagain_2 Forumite
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    Still going to ombudsman.. Will see how that goes!
  • dunstonhdunstonh Forumite
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    Still going to ombudsman.. Will see how that goes!
    uphold rate at the FOS is very low.  Around 1 in 13 last time I looked.  Obviously we don't have all the info to hand but the timebar rules on PBAs are pretty well known and the criteria is met.  If the FOS are happy with the timebar, they wont even look at your complaint but reject it as barred.
    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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