Mis-sold packaged bank accounts and claims!

Posted by matthewdavis9179 on August 18th, 2014

Cases of consumers having been duped and mis-sold Packaged Bank Accounts are getting more and more frequent these days. There are a lot of people that may have been affected, it has been estimated that one in every five account holder has had a PBA.

Packaged bank accounts are different form of current account, and come with extra ‘benefits’, like car breakdown cover, mobile phone insurance, travel insurance, and preferential loan rates. This may sound good, but the major issue with packaged bank accounts is that many were sold to people who did not need, want or understand them, resulting in profit for the banks but many consumers losing money. The account holder has to pay a monthly fee to the bank and in return the bank gives a host of benefits to enjoy, however many of the benefits were of a lower quality than those sourced oneself. The fact is, that packaged bank accounts tended to be sold or we can say in many cases mis-sold because they were very rarely actively pursued by customers. The so-called benefits sound great but are generally discovered to be unwanted, unsuitable or come with hefty excesses to pay if needing to claim, therefore many customers are not able to get any benefits of the Packaged Bank Account features.Have you also beenmis-sold a packaged bank account? If yes, then you need not worry because you can claim against the bank to get your money back. There are many consumer focused companies, which you can approach in order to get help in submitting a claim against the bank for Mis Sold Packaged Bank Account.

Such companies can handle this process for you and assist you in Packaged Bank Account Claims in a hassle free manner.In such cases of a potentially mis- sold financial product such as PPI or Packaged Bank Accounts you can try and claim yourself, directly by complaining to the Bank and if not happy with their response, to the Financial Ombudsman service; the fact remains that many consumers do not have the time or maybe don’t want the hassle of dealing with banks and forms, hence many elect to use a professional representative, a claims management company (CMC). The professional representative will have a close watch on the whole procedure to make sure that the claim is getting handled as per the rules and guidance.

Such companies have experience of handling such claims on a regular basis and thus can assist you in reclaiming money which you are rightly entitled to get. The one thing which you should keep in mind before hiring a company is that it should be authentic and regulated by the Claims Management Regulator for handling claims management activities.

So what are you thinking about? Just find an authentic company such as Money Active Ltd for your help and make a claim today!