PBA FAQ’s

Customers have been charged a monthly fee for an account which has a bundle of extra benefits. However, it has been found that these benefits are not always suitable for the customer and can offer poor value for money. It can be difficult for customers to claim on the extras offered due to restrictions held in the small print. Some customers have even found that they are simply not eligible for the extras despite being sold the account or did not even know that they had taken out such an account.

A good place to start would be to look at your monthly bank statements to see if you have been paying a fee for your account. Different providers of Packaged Bank Accounts use different names to market this product so your statement will not necessarily always make it clear as to the nature of the account. If in any doubt over a charge you can clarify it with your bank.

The complaint will not affect the relationship you have with the provider. The provider has a duty of care to treat you fairly and therefore you would not be treated any differently for having made a complaint.

Yes, it is.  The claim is undertaken on a no win no fee basis.  What does this mean?  1) If the claim is successful you pay 45% (inclusive of VAT) of the total redress received.  2) No fee is payable if the claim is unsuccessful, and there is nothing to pay upfront.  

If the Packaged Bank Account is established as mis-sold normal practice would be to refund all the premiums you have made for the account and add 8% interest on top.

Yes, just because an account is closed does not prevent you from complaining if it is felt that it was not suitable for you.

This depends on your bank and the work load they are currently experiencing. The regulator gives the bank 8 weeks to produce a response to your complaint. If a response is not forthcoming within this time frame, the complaint can be referred to the Financial Ombudsman Service.

Yes, you can go directly to your provider and lodge a complaint if you wish. However, our service has been specifically designed to take the hassle and stress out of doing this by yourself. Our process will help you to present a complaint that reflects all your key complaint points to aid you win any potential redress. The aim is to make sure that your complaint is taken seriously. Please note that the Financial Ombudsman Scheme could be used or any other mechanism such as legal expenses insurance to pursue a claim.