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Have I Been Mis-Sold a PBA?

If you’re still unsure about whether you were mis-sold a Packaged Bank Account, read the statements below. If any ring true, the chances are, you were.

  • You were sold or upgraded to a fee-paying account without your knowledge

If you can find a monthly fee on any current account statements – anything up to £25 or £30 – you were probably sold a Packaged Bank Account.

  • You aren’t eligible to claim on one or more of the bundled insurance policies

If you were told that you would be covered by the insurance policies in your Packaged Bank Account, and subsequently discovered you weren’t, you were probably mis-sold.

  • You were sold an account with bundled products you would never need

Due to the pressured selling of these products, staff often didn’t take into account whether the bundled benefits would actually be of any use to their customers, such as offering breakdown cover when you don’t drive a car. Sound familiar? Then you may have been mis-sold.

  • The sales advisor pressured you into it, making you feel like you had no choice

Did the sales advisor really take time to talk you through the product and properly record your wants and needs at the point of sale? If the answer’s ‘no’, you were probably mis-sold.

  • You weren’t told about any other available products

Were you told about – or even offered – other options. Did the sales advisor even compare the product to others available?

  • You wanted a loan or mortgage and were told you had to have a Packaged Bank Account to get one

Sometimes people were told that to be eligible for the best rates, they had to take out a paid-for account. This is not always true.

If you felt like you were left with no choice but to sign up for a Packaged Bank Account, it is likely that you could have been unfairly sold and are due a refund of any fees paid.

PBA Fee calculator and Claim Form

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