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Is PPI and PBA the same ?

I have just tried to reclaim my fees for a mis sold PBA but it has been rejected as I tried to reclaim my PPI in 2017. The financial ombudsman is saying they can’t help as I received my final decision letter more than 6 months ago but this was for PPI not PBA ???


  • BrieBrie Forumite
    6.3K Posts
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    they are different.  

    PPI is insurance that you pay/paid for purchases made normally on a credit card or loan.

    PBA = packaged bank account.  It's when you pay a fee to get add ons to your account like travel insurance, RAC, mobile phone insurance.

    It's possible that the ombudsman couldn't tell from your letter to them which you were referring to.  Particularly if you had both from the same bank.  
    "Never retract, never explain, never apologise; get things done and let them howl.”

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  • dunstonhdunstonh Forumite
    113.3K Posts
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    I am not sure how there can be some mix up with Packaged Bank Accounts and Payment Protection Insurance.    PBAs are about current accounts and PPI is an insurance that covers debt or loss of income.

    When you made your complaint, you didn't accidentally use the wrong initials, did you?

    You expect most PBA complaints to fail nowadays due to timebar.  Maybe the bank sent the wrong template letter by mistake?

    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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