How Do I Complain About A Mis-sold Packaged Bank Account?

Published: 08/08/2018

Ever wondered what the most complained-about products in the UK are?

Well, you’re in luck, as new data has revealed exactly what Brits love to complain about.

According to data compiled by complaints website Resolver for the 2017-18 financial year, the most complained-about products in the country are PPI, shopping, flights and… packaged bank accounts.

Here at GWlegal, that comes as no surprise to us!

Everyday we speak to hundreds of clients who have been unfairly sold financial products, such as PPI and packaged bank accounts.

While just about everyone knows about PPI by now, packaged bank accounts are not as so commonly discussed when it comes to mis-selling.

In this article, we will outline some common ways packaged bank accounts were mis-sold to thousands of customers and what you can do about it.

Was I Mis-Sold A Packaged Bank Account?

It is unknown exactly how many people in the UK have been mis-sold packaged bank accounts. Here at GWlegal, we would estimate it in the tens of thousands.

Packaged bank accounts are those that come in a bundle with other services or items, such as travel insurance or mobile phone insurance. The issue with packaged bank accounts is the way that they were sold – if the bank didn’t take care to assess your needs, didn’t explain the benefits of the account, or recommended that you pay for can account despite knowing you didn’t need it, then the account might have been mis-sold.

However, in many circumstances, a customer will already have at least one of these insurances already in place and, as these packaged accounts are off-the-shelf rather than tailored to each individual, the customer is left paying for insurance they do not need.

A common example of how the features of packaged bank accounts can be completely useful is when packaged bank accounts are sold with travel insurance (they often are!). There is a good chance that the travel insurance wouldn’t even be valid for the person taking up the account (e.g. because they have pre-existing health conditions, are pregnant or traveling to a country that is not cover under the particular policy). As such, it is useless!

However, just like with payment protection insurance (PPI), the real problem stems from how it was sold (or mis sold as the case may be!).

Common examples of how packaged bank accounts are mis-sold

  1. The product wasn’t fully explained - for example, maybe you weren’t told you had to register your car or phone with the insurance policy and, as a result, it was never actually valid
  2. You were told you were eligible to claim when you weren’t (e.g. there are often age limits on travel insurance along with other requirements, as mentioned above)
  3. You were not told the full cost or made aware of any increased costs
  4. You were told your application (e.g. for a overdraft) wouldn’t be accepted unless you took an account
  5. You were told it would improve your credit score
  6. The bank wouldn’t take no for an answer
  7. You were totally unaware you even had a packaged bank account!

According to the BBC, one in five packaged bank accounts may have been mis-sold and, while they may appear somewhat small monthly payments, the overall cost can quickly add up. For example if you paid £15 a month for 5 years, you could be looking at a refund of £900 plus interest.

Even if you no longer have the account or have cancelled it recently, you still have a right to redress.

What should I do if I think I’ve been mis-sold a packaged bank account?

You can contact your bank directly to explain your concerns. However, as anyone who has ever phoned a bank or building society before, this can be a time-consuming, expensive and ultimately useless exercise.

Alternatively, you can enlist the help of a qualified financial claims solicitor.

A solicitor who deals directly with banks in relation to these types of claims can quickly and efficiently make a claim on your behalf, so you can reap the benefits (and get what you deserve!), without any stress on your part.

Here at GWlegal, our ‘no win no fee’ service identifies if you were wrongly sold a packaged bank account as well as checking to see if there are any outstanding payment protection insurance policies for which you could be owed compensation.

It’s then completely up to you whether you take us up on our claims service.

What Should I Do Next?

Get in touch with us! At the very least, we can check if you had a packaged bank account and identify if it’s possible you were unfairly sold it. At the most, we can claim you thousands of pounds in compensation!

Who are GWlegal?

GWlegal are a financial claims solicitors based in Liverpool, specialising in PPIpay day loan claims, packaged bank account claims and housing disrepair claims.

If you have a legal matter you wish to discuss don’t hesitate to get in touch. You can call us on 0345 373 3737 or email us at with your question.

Who are GWlegal? We’re a national firm with local values.

Packaged bank account been mis-sold?

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Content correct at time of publication.
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