Paid for a Bank of Scotland Silver Account? You could be Owed a Refund
3 Minute Read
The Bank of Scotland Silver Account came packed with benefits like travel insurance, mobile insurance and car breakdown cover. This account came with a fee of £9.95 a month but is no longer available to new customers. However, existing Silver Account customers continue to pay the monthly fee, regardless of the account no longer being on sale.
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What have Bank of Scotland done wrong?
Back in September, lovemoney.com reported that Bank of Scotland was the most complained about financial business in Britain. It stated that “From January to July the financial watchdog received 20,541 complaints about the Bank of Scotland.” Most of these complaints related to mis-sold PPI (Payment Protection Insurance), but Bank of Scotland are guilty of mis-selling more than just PPI. The high street lender provides/provided 3 different packaged bank accounts. For information on what a packaged bank account is, check out our previous post. These accounts were mis-sold by Bank of Scotland to increase profits. As a result, customers were advised to have these pay monthly accounts without knowing enough about them to make an informed decision.
How do I know if I was Mis-sold my account?
If you have had a Bank of Scotland Silver Account, do you remember how you came to have it? In many cases, a lot of people don’t know the answer. This should raise concerns. How many times have you gone into a shop and, after a chat with a charming salesman, walked out with something you didn’t want or need? Unfortunately, it happens. This is the same method used by banks like Bank of Scotland. Customers may go into the bank just to make a deposit/withdrawal or for an annual review, but by the time they leave they have been victim to pushy sales tactics.
Get in Touch
After reading this, if you believe you were mis-sold your Silver Account, it’s time to drop us a line! We have a team of professionals ready to give you advice on your options. You can call us on our freephone number: 0800 007 3777. Alternatively, enter your details below and we will be in touch.