Do all PBA’s charge a fee which is monthly?
All packaged bank accounts or PBA’s charge a monthly fee. The account itself is likely to have a variety of financial inducements attached to justify this monthly cost. The benefits package will contain elements such as travel insurance, car breakdown cover and reduced interest rates on loans other forms of borrowing. The accounts themselves are not necessarily bad they just have to be appropriate for an individual’s needs. The bank should have established whether the benefits package was of benefit to its client. If it was not or areas were duplicated or not beneficial then there is a good chance that it was mis-sold.
Is the Co-operative Everyday Extra account right to be sold?
The everyday extra account can have been mis-sold if the adviser at the time of sale did not take into account your specific financial requirements and needs. Package bank accounts can be a costly affair in that they attract a monthly fee which you have to make sure you pay in order to operate the account. If the various benefits attached to the account are not beneficial then this can mean you are basically throwing money away.
My Co-operative account I believe was missold, is that right?
If you believe that your Co-operative account was mis-sold then you are absolutely right to challenge the sale of the account and seek redress. At the very least you should be provided with a list of alternative products that meet your requirements and in these should be an account which is fee free.
It is not that package bank accounts are wrong, it is whether a package bank account is right for you as a client of the bank. Does it meet with your requirements and were your requirements established at the time of sale?
Co-operative Packaged Bank Account Refund
How to deal with a mis-sold Everyday Extra account?
If you have or had an everyday extra account that you wish to make a claim against then it is important you do so. On paper making a complaint against any financial firm should be easy, however, this is not always the case. The process can appear long winded and unnecessarily cumbersome. Regardless of this you should always plough through or find what you believe to be easier alternatives to take your concerns further to seek recompense.
What if my package bank account was mis-sold?
Our principal Martin Knipe has been dealing with financial complaints and concerns for the last 20 years. As a firm which he operates Facility Review works on behalf of clients on a purely no win no fee basis where should there be no positive, there is no fee to pay. The cost attached to any refund is 20% plus VAT (24%inc). More importantly if as a client you are happy at any stage to proceed then the agreement can be cancelled without cost. We believe in our own abilities and so do not attached any hidden costs other than the success based fee as detailed.
What do I get for claiming for a mis-sold Co-operative bank account?
If you believe that your Co-operative bank account was mis-sold then it is important to seek redress through the complaints process. You can do this either yourself or through a claims firm but whichever method you choose it is important that your concerns are highlighted and brought to the attention of the firm.
In making a claim if you are successful then you can look at receiving a full refund of the account charges that were levied, interest that would have applied on these charges from inception as well as compensatory interest on the two figures. Other charges can be reviewed and refunded if they were also generated as a result of the mis-sale.