How far back?

lynne0191

How far back can you go to complain about a packaged bank account? My Kim has an account with Lloyds since 1992 but they've said they can only go back
to 2001. Does that sound about right?

brettcta

You can go as far back as you or the bank have evidence to support a complaint. If your Kim has documents to support whatever complaint he/she hopes to make around circumstances in 1992 then you/they provide them. 

If they don’t, you’re relying on whatever documents the bank has in archive and if that’s from 2001 onwards then that’s what you have.

dunstonh

Lloyds didn't sell PBAs in 1992.  They had different versions with features (gold card for example) but the PBAs came later.
 Most PBA complaints can be timebarred now as they only need 6 years from the date of sale and 3 years from you being reasonably aware of an issue.  The annual benefit statements the banks send out have been sufficient to trigger the 3 year clock.   That said, sometimes the banks chose to ignore the ability to use the timebar.  Sometimes they don't

So, it could be that in 1992 she had a current account or classic account (or gold account) but then later moved to a PBA when they became available.  Hence the date differences.

[Deleted User]

Lloyds had a paid for back account way back in 1991 (£8 a month called the Classic) I think, just going from quick googling but the source is a claims firm so not 100% reliable. Seems they introduced the Select account (around £4 a month) in 2001 or thereabouts so it's quite possible "Kim" upgraded the account in 2001. If "Kim" has evidence that he/she had a paid for account older than that, then they should provide it to the bank else you have to go on what the bank records say (as that is what the FOS will do in the absence of any other evidence).

Keep in mind that a packaged account opened in 2001 will fail the 6 year time bar rule and if the account is still running or was closed more than 3 years ago it'll be time barred under the 3 year rule as they will have been sending letters advising of free alternatives for years which start the clock ticking and similarly, closing an account does this too.

dunstonh

Lloyds had a paid for back account way back in 1991 (£8 a month called the Classic) I think, just going from quick googling but the source is a claims firm so not 100% reliable.

The classic account was not a PBA when it launched.  It was an attempt to bring in paid for banking by offering better terms on banking services.  Such as credit interest, preferential overdraft terms, including an interest free overdraft and improved loan terms.   From memory, I think it also had a higher cheque guarantee card limit than the standard current account and a higher cashpoint daily withdrawal limit.  Lloyds also had a gold account in that era which was also not a PBA in its original incarnation but further improved terms on banking charges/interest.     It was initially meant for higher earners but it was started being dished out willy nilly as incentives for lower earners and they introduced the platinum account to make up for it.    Again, not a PBA.   The Select account was the PBA.  There was a later gold account as well but that differs from the early 90s gold account.