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…

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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…

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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…

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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…

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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…

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