Packaged Bank Accounts – FCA Investigation

The Packaged Bank Accounts FCA investigation was conducted in 2012/2013 when the regulators of the financial firms located a number of failings that they had in the promotion and sales of the current accounts that they were providing.  All of these were under the guise of Packaged Bank Accounts. Following this review, many people are […]

What are Packaged Bank Accounts?

A Packaged Bank Account (PBA) is an account facility which has been operated by all of the major High Street Banks.  It was developed approximately 15 to 16 years ago as a way for the Banks to operate a current account market in which they could obtain a monthly fee for that current account. For […]

Mis-sold Bank Accounts

Mis-sold bank accounts are now taking over, to some extent, from the numbers of Payment Protection Insurance (PPI) claims that have been seen throughout the Banking Industry over recent years.  The PPI claims market has so far looked at the Banks refunding (to the end of 2015) approximately £30billion.  Whilst the mis-sold Packaged Bank Accounts […]

Packaged Bank Account Claims Companies

Packaged Bank Account (PBA) claims companies are now coming into existence in order to deal with the growing number of Packaged Bank Account claims that are being undertaken throughout the Country.  This is as a result of an investigation by the Financial Conduct Authority (FCA) in 2013 regarding the potential mis-sale of these particular accounts […]

Mis-selling Bank Accounts

Mis-selling bank accounts is now yet another area which has been investigated by the Financial Conduct Authority (FCA) in relation to products that Banks offer clients.  There are approximately 11 million Packaged Bank Accounts (PBA) throughout the United Kingdom.  Following a recent study by the FCA in 2013, the Banks have to now address the […]

Reclaiming Packaged Bank Accounts (PBA)

“Mis-selling Packaged Bank Accounts” (PBA) – whilst not as well known a phrase as that of mis-selling Payment Protection Insurance (PPI), it is likely to get more fame (if not infamy) over the next few years as the Banks are dealing with ever growing numbers of Packaged Bank Account facilities that they have mis-sold. The […]

Claiming Back Packaged Bank Account (PBA) Fees

Claiming back Packaged Bank Account (PBA) fees is something that is beginning to take place over most of the Banks’ current account ranges.  The financial regulator, the Financial Conduct Authority (FCA) has conducted a study and found that there are serious flaws in the way that the Banks are promoting this type of product. The […]

Have you paid Bank Charges and PBA fees?

If you have paid any form of bank charges, including Packaged Bank Account (PBA) fees (which have been applied to your account on a monthly basis) then there is an opportunity for you to recover these.  There are two types of Charges that are being applied in this particular instance.  Both need to be looked […]

What are the problems with Packaged Bank Accounts (PBA)?

The problems with Packaged Bank Accounts (or PBA) relate to the sales process employed by the various current account providers throughout the UK.  This problem has been highlighted by the Financial Conduct Authority (FCA) in their report in 2013.  This brought to the attention the mis-selling of these particular accounts.  The Banks are of course […]

If I reclaim Packaged Bank Account (PBA) charges, how much will I get back?

If you are considering recovering your Packaged Bank Account (PBA) charges, and the claim is upheld, you can look at recovering three, possibly four elements, as follows:- 1.            The first part of any refund will be the charges that have been applied on your account which are associated with the packaged account, namely the monthly […]