When is an account a packaged account?

MsPepperPotts · 22 May 2018 at 5:44PM

First ever post, be kind!

Barclays are saying that their Premier Account is not a packaged account and therefore they have closed the complaint I sent via Resolver.
It was a fee-paying account that they told me I had to open in order to get a mortgage with them. It may have had benefits but I can't remember any of them. This was in 1998. It must have had some benefits to justify the fee, therefore it must be a package, right?
How can I find out what the benefits would have been? When is a fee-paying account not a packaged account?

Nasqueron · 22 May 2018 at 11:11PM

It seems odd they would close the complaint solely on a technicality over the description of the account, are you sure that's all they rejected it on? You could just ring them and ask I guess or paste the full rejection here minus any personal data

dunstonh · 23 May 2018 at 12:07AM

It was a fee-paying account that they told me I had to open in order to get a mortgage with them.

Not all fee paying accounts were packaged bank accounts. There was a period when fee paying meant you got better overdraft rates or reduced borrowing charges. No addons of any sort.

It must have had some benefits to justify the fee, therefore it must be a package, right?

It would have benefits but it doesnt make it a package if there are no third party provider/products packaged in.

When is a fee-paying account not a packaged account?

When there is nothing packaged into the account from third parties.

MsPepperPotts · 23 May 2018 at 4:44PM

Barclays say 'we are unable to find a packaged bank account product on your account'. My italics, on re-reading.
So if there were no add-ons, their £10/month fee is even worse value, and I don't have a case?! They are unable to tell me what the fee was for.

Nasqueron · 23 May 2018 at 5:00PM

MsPepperPotts wrote: »

Barclays say 'we are unable to find a packaged bank account product on your account'. My italics, on re-reading.
So if there were no add-ons, their £10/month fee is even worse value, and I don't have a case?! They are unable to tell me what the fee was for.

Ring them up and tell them you want to complain about the fee paying account period and see what happens

dunstonh · 23 May 2018 at 5:11PM

So if there were no add-ons, their £10/month fee is even worse value,

Not necessarily. Fee accounts often paid credit interest and had lower overdraft fees. They were fashionable for a period and indeed, there are calls for them to return. you dont see them much as the window they were offered was quite short.

They are unable to tell me what the fee was for.

The fee would not have a specific purpose. it would be a fee for the account.

When is an account a packaged account?

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