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  • FIRST POST
    • Joanner
    • By Joanner 30th Apr 19, 12:23 PM
    • 1Posts
    • 0Thanks
    Joanner
    Packaged bank account fees
    • #1
    • 30th Apr 19, 12:23 PM
    Packaged bank account fees 30th Apr 19 at 12:23 PM
    Just got a cheque from lloyds bank for£3,000 thank you Martin and team. Packaged bank account that was sold as "you can only get an overdraft if it's a gold account £10 a month charge" never used the package once as was irrelevant to my lifestyle. Never explained to me it was holiday insurance etc. So happy to get the money back as I felt like I'd been tricked out of my money. This was also an old account that had been closed for eight years.
Page 1
    • dory30
    • By dory30 2nd Jun 19, 9:00 PM
    • 3 Posts
    • 0 Thanks
    dory30
    • #2
    • 2nd Jun 19, 9:00 PM
    • #2
    • 2nd Jun 19, 9:00 PM
    i also had this forced on me while suffering wit depression, did you apply for this through MSE
    • Nasqueron
    • By Nasqueron 2nd Jun 19, 9:11 PM
    • 7,603 Posts
    • 4,835 Thanks
    Nasqueron
    • #3
    • 2nd Jun 19, 9:11 PM
    • #3
    • 2nd Jun 19, 9:11 PM
    i also had this forced on me while suffering wit depression, did you apply for this through MSE
    Originally posted by dory30

    Nothing was forced on you


    If you feel it was miss-sold, send a complaint to the bank about why you feel it was miss-sold and see what they say. Many packaged bank accounts are time barred though, if it was taken out more than 6 years ago then chances are they will bar it from that and the 3 year rule as they send statements annually which are sufficient to trigger it
    • Thinkerthinker123
    • By Thinkerthinker123 6th Jun 19, 3:29 PM
    • 5 Posts
    • 0 Thanks
    Thinkerthinker123
    • #4
    • 6th Jun 19, 3:29 PM
    • #4
    • 6th Jun 19, 3:29 PM
    My case is slightly different in that I was aware of my benefits except that they mis-sold it. For instance, my mobile phone insurance - I didn't know that it had to be registered for me to file a claim and also was not made aware that travel insurance only covers within EU. with the 3 year rule, would the point of discovery be from when I discovered there is a problem (in 2017 when I filed mobile insurance claim which was not successful) or from the point they send annual statements, because my view is I couldn't have known there was a problem with the account until I tried to use one of those benefits (I.e. claim mobile insurance).. Any thoughts please?
    • dunstonh
    • By dunstonh 6th Jun 19, 3:50 PM
    • 98,597 Posts
    • 67,014 Thanks
    dunstonh
    • #5
    • 6th Jun 19, 3:50 PM
    • #5
    • 6th Jun 19, 3:50 PM
    My case is slightly different in that I was aware of my benefits except that they mis-sold it. For instance, my mobile phone insurance - I didn't know that it had to be registered for me to file a claim and also was not made aware that travel insurance only covers within EU. with the 3 year rule, would the point of discovery be from when I discovered there is a problem (in 2017 when I filed mobile insurance claim which was not successful) or from the point they send annual statements, because my view is I couldn't have known there was a problem with the account until I tried to use one of those benefits (I.e. claim mobile insurance).. Any thoughts please?
    Originally posted by Thinkerthinker123
    You have your own thread already:
    https://forums.moneysavingexpert.com/showthread.php?t=6010254

    Please keep responses on that thread to avoid polluting this one.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • rywy79
    • By rywy79 7th Jun 19, 7:20 AM
    • 2 Posts
    • 0 Thanks
    rywy79
    • #6
    • 7th Jun 19, 7:20 AM
    • #6
    • 7th Jun 19, 7:20 AM
    Not sure if anyone can help or has had a similar experience.
    I have an account with Barclays (since about 1997) around 2000 I took out a loan with them. During the meeting the advisor said I needed ppi and that I needed to have a packaged account to help the process. I didn’t want either as my work covered sickness and I didn’t need the benefits of the packaged account. I repaid the loan and had the account for about 4-5 years. I then moved out of the uk and ended the packaged part of the account. Upon my return 2008 I added the packaged part again as I was under the impression I needed to. I queried this a few year later ( I had some family issues during these years and it wasn’t really on my agenda) and cancelled it. I made a claim through a ppi and personally and both times I have been rejected for a claim on both periods (During the second period I made a phone or holiday insurance claim). The loan has never been recognised by them either. Any help or suggestions would be appreciated.
    • Moneyineptitude
    • By Moneyineptitude 7th Jun 19, 7:45 AM
    • 23,990 Posts
    • 13,391 Thanks
    Moneyineptitude
    • #7
    • 7th Jun 19, 7:45 AM
    • #7
    • 7th Jun 19, 7:45 AM
    I made a claim through a ppi and personally and both times I have been rejected for a claim on both periods.
    Originally posted by rywy79
    You've already been rejected twice, so there doesn't appear to be anywhere to go with this.

    If you have complained in the last six months, though, you have the option of referring your complaint to the Ombudsman.

    If it was longer than six months ago, you need to realise that your complaint was over the first time you complained and that any subsequent complaint will now result in a response simply and tersely repeating the original rejection.

    From what you say, it sounds like you were rejected because you cancelled the PBA some years ago and that the loan you had in 2000 is no longer on record.
    • rywy79
    • By rywy79 7th Jun 19, 4:10 PM
    • 2 Posts
    • 0 Thanks
    rywy79
    • #8
    • 7th Jun 19, 4:10 PM
    • #8
    • 7th Jun 19, 4:10 PM
    Thanks for this. I think the reason for them rejecting was I cancelled the packaged payment then applied it back to the account when I returned to the country. Unfortunately I just thought I needed to have it as I was originally told I needed it to help the loan through. Not a massive issue just my initial gripe was that I was 100% missold (actually pretty much tricked) but didn’t actually realise they had broken laws until about 2010. Thanks for response!
    • dunstonh
    • By dunstonh 7th Jun 19, 6:06 PM
    • 98,597 Posts
    • 67,014 Thanks
    dunstonh
    • #9
    • 7th Jun 19, 6:06 PM
    • #9
    • 7th Jun 19, 6:06 PM
    but didn’t actually realise they had broken laws until about 2010
    They havent broken any laws. There is nothing wrong with PBAs. I was at a FOS meeting some years back and they said they had absolutely no concerns about PBAs as a product/concept.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • donsleight
    • By donsleight 15th Jun 19, 12:54 PM
    • 1 Posts
    • 0 Thanks
    donsleight
    i received a GOGW payment of £51.67 today with no explanation about it? NatWest have been helping themselves to £18 pounds a month from my account for many years, i was expecting a bit more money to be honest they’ve forgotten to add a zero or two ����
    • thomasj1989
    • By thomasj1989 15th Jun 19, 1:10 PM
    • 19 Posts
    • 0 Thanks
    thomasj1989
    i received a GOGW payment of £51.67 today with no explanation about it? NatWest have been helping themselves to £18 pounds a month from my account for many years, i was expecting a bit more money to be honest they’ve forgotten to add a zero or two ����
    Originally posted by donsleight
    Don have you received correspondence from them explaining the decision? GOGW indicates they have rejected your complaint and should therefore be sending you a letter with your FOS rights and explaining the decision including account history and timeline of events. Depending on how long you've held your account it may influence them as they will say you could have complained sooner.
    • Nasqueron
    • By Nasqueron 15th Jun 19, 2:32 PM
    • 7,603 Posts
    • 4,835 Thanks
    Nasqueron
    i received a GOGW payment of £51.67 today with no explanation about it? NatWest have been helping themselves to £18 pounds a month from my account for many years, i was expecting a bit more money to be honest they’ve forgotten to add a zero or two ����
    Originally posted by donsleight

    Did they time bar it or something?


    If you were unhappy with the monthly fee, why didn't you complain "many years" ago?
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