Packaged bank charges are fees that the banks use to generate substantial revenue from their customers who would normally a business in this case a banking business not make any such money. The banks have made millions, sorry no make that billions of pounds every year from applying these monthly account fees.
The fees themselves were sold in a variety of ways suggesting that you have no alternative or there was no option of a free bank account or you were somehow put off by having a free account as it not being worthy of existence. The fee itself had various bolt on features to seem really good like travel insurance or breakdown cover, but whilst it seemed really good it was a con to justify an account and for the number of times anyone used the special phone numbers for the various special privileges probably made it the quietest call centre in the country!
The problem was that the banks bundled a package of ‘account privileges’ together to justify a fee but unfortunately this did nothing but compound the fact that they mis-sold the account.
Banks when they sell any product, be it a mortgage, Insurance or a humble current account must do so by being open and honest with client, establishing if the product is appropriate and if there is something available that offers the requirements that the customer needs at a cheaper cost. The problem with any bank misselling is that as they are target driven a bank customers’ needs are hardly ever fulfilled and a missale occurs.
We are now seeing a tremendous increase of complaints relating to bank charges and have represented a number of clients whom have obtained refunds which runs into between £1500 and £2000 so any claim is certainly well worth looking into.
Recover Your Money Ltd will work hard to uncover and recover any money you may be owed. We will attempt to go back further than most other claims companies, helping our clients to claim back up to 13 years worth of unfair bank charges and our mis-sold PPI clients up to 30 years. Furthermore you will not need to provide any original paperwork or documents to reclaim your bank charges or PPI.