Reclaimed packaged Bank Account Charges

[Deleted User] · 7 September 2017 at 7:29PM

Callaghan83 wrote: »

Wasn't worded correctly, I never used the benefits of the old account, prior to the upgrade

Well, your complaint is now rejected, so your only alternative is to take your case to the Ombudsman.

Mersey_2 · 8 September 2017 at 1:27AM

Callaghan83 wrote: »

I have a quick question, I filled out the form on resolver, got a reply from RBS that said I upgraded my account last year, which I did for the free travel insurance but my gripe was that they sold the account to me to get a better loan rate several years ago. I was tied into the loan until earlier this year. Has anyone had a similar experience? They say since I upgraded my account I was not missold the account in the first place. Anyone have any suggestions on what to do next??

Your chronology isn't clear. If you mean you upgraded online (ie very willingly), last year then it's no surprise that that claim was rejected.

However, if RBS told you that you had to take the packaged account in order to receive x (such as an increased overdraft or loan) - as you suggest in your later post - then yes, that is a valid cause to seek redress for, as it was not true and is the reason RBS have been found wanting more than any other banking group re packaged bank account mis-selling.

But nevertheless that valid claim may now be time barred as others have explained and given that you refer to "years ago" in your later post. Indeed most RBS PBA claims are now time barred after a flurry in the 2014-2016 period, the bank sent out refresher packs to all those still on the Adv Gold Account and the three other then fee paying accounts. So even date of knowledge (the 3 year time bar) are few and far between and only affects a small number who were not sent the packs in error.

gnioto · 11 September 2017 at 10:34AM

Can I ask how long this took too complete from beginning to end? I put a complaint in last week to lloyds who is have banked with since 2004.

I went to the bank 23yrs old with a poor credit rating. I had been to Halifax to open a joint account with my partner ready for our first home together. We went to lloyds tsb as it was then and was nervous about being approved for a mortgage. We were approved but I distinctly remember being taken from the mortgage advisor to a banking advisor and we were told we HAD to have a packaged bank account to have a mortgage and that it would get us a better rate. To the tune of around £15 a month (it's 17 now). Somehow we also ended up with a silver account although I don't know what benefit we would have of 2 accounts. We have never been on holiday, we used the AA cover once many years ago and I don't believe we have ever used mobile phone insurance.

I genuinely believe I was missold both packages and I even remember the names of both staff who dealt with us!

I'm hoping we have some success with our claim x

dunstonh · 11 September 2017 at 10:55AM

but I distinctly remember being taken from the mortgage advisor to a banking advisor and we were told we HAD to have a packaged bank account to have a mortgage and that it would get us a better rate.

If it is true that there was a better rate, then that is a good reason to have it.

Somehow we also ended up with a silver account although I don't know what benefit we would have of 2 accounts.

Having two accounts is a good thing. Lots of people use a second account to pay all the fixed bills out of and have a standing order just after pay day to go to the number 2 account that covers all the bills. Then you know what is left in the number 1 account is general spending money.

However, you would not have two PBAs. One of them may be a PBA but the second should be a plain current account. If you have two PBAs then you would expect a success on at least one of them.

StopIt · 11 September 2017 at 11:53AM

gnioto wrote: »

Can I ask how long this took too complete from beginning to end? I put a complaint in last week to lloyds who is have banked with since 2004.

I went to the bank 23yrs old with a poor credit rating. I had been to Halifax to open a joint account with my partner ready for our first home together. We went to lloyds tsb as it was then and was nervous about being approved for a mortgage. We were approved but I distinctly remember being taken from the mortgage advisor to a banking advisor and we were told we HAD to have a packaged bank account to have a mortgage and that it would get us a better rate. To the tune of around £15 a month (it's 17 now). Somehow we also ended up with a silver account although I don't know what benefit we would have of 2 accounts. We have never been on holiday, we used the AA cover once many years ago and I don't believe we have ever used mobile phone insurance.

I genuinely believe I was missold both packages and I even remember the names of both staff who dealt with us!

I'm hoping we have some success with our claim x

dunstonh wrote: »

If it is true that there was a better rate, then that is a good reason to have it.

Having two accounts is a good thing. Lots of people use a second account to pay all the fixed bills out of and have a standing order just after pay day to go to the number 2 account that covers all the bills. Then you know what is left in the number 1 account is general spending money.

However, you would not have two PBAs. One of them may be a PBA but the second should be a plain current account. If you have two PBAs then you would expect a success on at least one of them.

Depending on the timing, they may have a case because depending on the account, half of the advice may have been a lie.

I've banked with Lloyds since 2009, and have a Club Lloyds Silver account.

I use the mobile phone insurance and travel insurance so the Silver (£9.99 p/m) element works for me.

The bit that has the offers of preferential loan rates, mortgage offers etc is Club Lloyds, and was £5 p/m but has recently been reduced to £3 p/m.

This comes with a yearly benefit (I hope you've been using this at least!) and would be the only part of the account that you would have had to take to get preferential rates. If they sold the Silver Account on that basis also, it would be completely false.

Club Lloyds can be taken without a premium account, and is free if you pay £1,500 a month into that account also. I'd contest the Silver account, ask to downgrade to Club Lloyds only, as it'll likely still be needed if you save interest on your mortgage.

gnioto · 11 September 2017 at 7:36PM

A lady rang me from lloyds earlier today. Form went in around lunch time and she called me at 4pm. Asked a few questions and is going to call me back towards the end of the week!

Dandytf · 14 September 2017 at 6:33PM

Can anyone answer if rbs cancel my package account if “I reclaim package subs.

I wouldn’t want to put my breadown cover at risk.

-taff · 14 September 2017 at 6:36PM

Of course they will cancel it

IAmWales · 14 September 2017 at 6:37PM

Dandytf wrote: »

Can anyone answer if rbs cancel my package account if “I reclaim package subs.

I wouldn’t want to put my breadown cover at risk.

If you're using the benefits, what are your grounds for complaint? Any award will be reduced to take into account your usage.

dunstonh · 14 September 2017 at 8:19PM

Dandytf wrote: »

Can anyone answer if rbs cancel my package account if “I reclaim package subs.

I wouldn’t want to put my breadown cover at risk.

Why on earth would you want to complain when you are happily using the benefits?

Reclaimed packaged Bank Account Charges

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