Packaged monthly fee bank account reclaim rogertb

#1
Hi chaps, I'm guessing it's spam but I had an email suggesting that these were missold, here's some of the mail:



"These types of bank accounts are where you pay a monthly fee for use of your account and with this fee a number of "benefits" are bundled into the package,



The benefits bundle might include:



Travel Insurance

Mobile Phone Insurance

Vehicle Breakdown Cover



Banks have been found to have consistently missold these types of accounts."



Anyone any more info. on this please ?

#3
If you do think you've been mis-sold and have managed to miss the "fee" entry on your account each month for the last God knows how many years complain directly to the bank. Not via a third party.

#4
Thanks chaps, that's interesting, I didn't realise there were people who were "mis-sold", I have one of these accounts and I think the benefits are just about worth it (but only just) I was "persuaded" to get one years ago when I joined the bank (Co-op). On seeing the "Claims Co." email I just thought that maybe the fact that there were companies promoting 'refunds' there might have been something that has been proved to be illegal about these accounts. I wasn't mis-sold but as always would be interested in getting something for nothing out of the banks ... I probably haven't explained myself very well so don't feel obliged to respond !



Many thanks Roger

#5
Just wonder what is the company who send the spam aiming for ??.

Is it not a large sum of money (if any) could be won and majority of the money will go to the one who has paid the fee ??



In the past I also received spam email, people on the shopping center are asking my regarding PPI I just ignore them.



Looking in to quite intensive resources they have used (e.g pay people to shout on the shopping center, emailing, cold calling, etc).

What actually they will get in return a part from fee and small compensation which are mainly will go to the the person who was paying for it ??

#7



Just wonder what is the company who send the spam aiming for ??.

Is it not a large sum of money (if any) could be won and majority of the money will go to the one who has paid the fee ??



In the past I also received spam email, people on the shopping center are asking my regarding PPI I just ignore them.



Looking in to quite intensive resources they have used (e.g pay people to shout on the shopping center, emailing, cold calling, etc).

What actually they will get in return a part from fee and small compensation which are mainly will go to the the person who was paying for it ??
Originally posted by adindas


Well most charge fees of around 40% of the amount claimed back doing very little so it's a very profitable business for them.

#8
Any advice appreciated.

I did complain via this site to TSB / Lloyds as the added value accounts go was back to the 90's. Lloyds passed my complaint to TSB who basically said I was aware of the added benefits:

My issue is that whilst I was aware of the benefits I did not want them - the account was sold on the basis that I could keep the overdraft and that the overdraft would act in my favour if I got a mortgage.

I have not had. Car for over 10 yeas but happened to be in a friends car back in 2012 when I called out the AA ... I used the travel insurance once as his was not cost effective as I had to pay £50 to reduce the excess to £50 . I could get a cheap holiday insurance policy for less than £20 all in. The mobile phone insurance was used but again I could have gotten this cheaper elsewhere and with new for old cover. I think I claimed once back in 2009 when the insurance coverex two phones and offered new for old ... I now have a 2 year contract on an apple iPhone and if that phone gets broken they replce it with a reconditioned one not a new one ...



I am not allowed by law to have two insurance policies running at the same time for the same thing but I am "shackled" to the TSB Insurance.



When I called TSB after receiving their response the were rude , they did not listen and continued to say I was aware of the added value ... yes ! I was aware but I had no choice but to use it ...



What can I do ?



Thanks for reading



Graham:

#9



Any advice appreciated.

I did complain via this site to TSB / Lloyds as the added value accounts go was back to the 90's. Lloyds passed my complaint to TSB who basically said I was aware of the added benefits:

My issue is that whilst I was aware of the benefits I did not want them - the account was sold on the basis that I could keep the overdraft and that the overdraft would act in my favour if I got a mortgage.

I have not had. Car for over 10 yeas but happened to be in a friends car back in 2012 when I called out the AA ... I used the travel insurance once as his was not cost effective as I had to pay £50 to reduce the excess to £50 . I could get a cheap holiday insurance policy for less than £20 all in. The mobile phone insurance was used but again I could have gotten this cheaper elsewhere and with new for old cover. I think I claimed once back in 2009 when the insurance coverex two phones and offered new for old ... I now have a 2 year contract on an apple iPhone and if that phone gets broken they replce it with a reconditioned one not a new one ...



I am not allowed by law to have two insurance policies running at the same time for the same thing but I am "shackled" to the TSB Insurance.



When I called TSB after receiving their response the were rude , they did not listen and continued to say I was aware of the added value ... yes ! I was aware but I had no choice but to use it ...



What can I do ?



Thanks for reading



Graham:
Originally posted by Gm689788


You can cancel the packaged account. You're not "shackled" to TSB's account in any sense.



Nothing about this says you were mis-sold. You used and claimed on the insurances and the insurances being expensive or not being very good is not a valid reason for them being mis-sold (having a claim accepted closes off any line of complaint around the policies being unsuitable for you or you being aware of them). You could have cancelled at any time if you thought the benefits weren't worth it and paying the fees for 17 years implies you were happy with them. TSB are right to point out that you were aware of them, and could have cancelled at any time.



Add to this that the sale of the packaged account was more than 6 years ago, well before the FOS time bar and well past the point where any recollection of the sale is going to be valid and (Lloyds) TSB will have destroyed all data about it due to the passage of time, and you haven't got a hope in hell.

#10
I have been paying buildings contents insurance for the past 35 years but have never had a claim. As the bank with whom I took out my first mortgage insisted I had such insurance as a requirement for the mortgage, have I been miss-sold?



Just playing devil's advocate but what a complete load of tosh most of these claims are. I just wonder if the OP relied on his car breakdown cover or travel insurance or mobile phone cover? just because you've never claimed doesn't; mean you were [airquotes] "miss-sold" [\airquotes]. The poster who jumped into the thread above is a case in point.

Who is online

Users browsing this forum: No registered users and 2 guests

cron