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Packaged Bank Accounts

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Claims Form

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Many people are paying a monthly fee for their bank account. These fee bearing or ‘packaged’ bank accounts are supposed to include customer benefits, usually insurance products. Unfortunately it appears that many of these accounts have been mis-sold. Why not get in touch today and we’ll help you find out if yours might be one of them?

The problem

Whilst insurance products in general are good, fee bearing packaged bank accounts often provide insurance products that are not appropriate for many customers. Associated benefits including travel insurance, car breakdown cover and mobile phone insurance were often useless and therefore, mis-sold to many customers.

The service

Brunel Franklin has the expertise to pin-point the exact reasons why your packaged bank account may have been mis-sold. Our experience in the industry means we can take care of the whole process for you.

How to claim

Simply fill in your details today and one of our specialist advisors will get in touch to discuss whether you may have a claim for a mis-sold packaged bank account.

Frequently asked questions

What is a Monthly Fee Bank Account?

Certain bank accounts were designed to offer extra benefits in return for a monthly fee. The fees varied depending on the package. These bank accounts became known as packaged accounts and came with associated benefits including travel insurance, car breakdown cover, and mobile phone insurance.

What information do I need to provide you with?

All we need from you are the key details that the Refund Pack ask. There are no right or wrong answers, but every bit of information you give us, however small, may assist us to achieve the best outcome for you. Don’t worry if you can’t answer all the questions in the pack, just call one of our advisors on 0800 051 54 51 and they’ll talk you through it.

How much will this service cost me?

We operate on a No Win, No Fee* basis and will only take a percentage of any compensation awarded. The fee that we take is 33% + VAT at the prevailing rate.

Will this claim affect my relationship with my bank?

No, the Financial Conduct Authority (formerly the Financial Services Authority) does not allow any company or financial institution to disadvantage a customer because they've made a complaint. However if your claim is successful your account will be returned to a non fee paying account and any benefits cancelled. You should ensure that if you require any of the benefits you make alternative arrangements, eg. If you have booked a holiday you may need to take out travel insurance.

Was I mis-sold a monthly fee bank account?

As with PPI, banks made a large profit from these accounts and in many cases they were mis-sold to customers. Most mis-selling was due to clients being pressurised into upgrading to an account they didn't need, being sold benefits they already had or being mis-led by their bank. Common complaints include:

  • Customers were not fully explained the terms and conditions of the packaged bank account.
  • Customers weren’t told non-charging accounts were available.
  • Customers believed they had to take a packaged bank account in order to keep or get an account with the bank.
  • Customers were often told that you would have access to many great benefits including cheap insurance, but then found they weren’t eligible.
  • Customers were switched to packaged bank accounts without their full knowledge or consent
  • Customers were pressurised by bank staff into taking a packaged bank account
  • The bank did not ask if the product was suitable for the customers needs

How much will I get?

If you were mis-sold a packaged bank account Brunel Franklin will obtain for you a refund of all premiums paid plus interest at 8%.

If I can do this myself why would I use Brunel Franklin?

  • Brunel Franklin has been dealing with financial claims for over 2 years.
  • Brunel Franklin has the experience to pin point all the reasons for a mis-sold packaged bank account
  • Brunel Franklin will endeavour to make sure that the company you're claiming against follows the FCA guidelines and time limits within the industry.

Can I claim back my packaged bank account charges if I am in a debt management plan or an IVA?

If you have an IVA or debt management plan, you should speak to your plan administrator. Unfortunately Brunel Franklin will be unable to assist you.

What else do I need to know?

It is your right, and we strongly advise you, to seek further advice and shop around before entering into a contract with Brunel Franklin. Once you’ve returned our documentation you will be bound by our Terms Of Engagement.

Can I opt out of marketing later?

You can opt out at any time by calling us on 0800 051 54 51, emailing us at infobrunelfranklin.com, or writing to us at: Brunel Franklin, 4th Floor, The Bloc, Ashley Road, Altrincham, Cheshire. WA14 2DW.