A Packaged Bank Account (PBA) requires account holders to pay a monthly fee in return for a range of ‘ inclusive benefits’ such as mobile phone insurance, travel insurance or breakdown to name a few.
However in reality, many account holders have ended up paying for something they do not want, they do not need or that they do not even qualify to claim against.
It has been uncovered that incentives offered to bank staff which encouraged them to mis-sell products, or provide inappropriate products to their clients such as packaged bank accounts.
If you feel you are the victim of packaged bank account mis-selling, you are certainly not alone. The number of complaints is increasing rapidly as people become more aware of the problem.
With over 10 million of the packaged bank accounts currently active, potentially millions more have been closed, but CAN still be claimed against.
The numbers are staggering!!