Do you pay a monthly fee for your bank account?
If you feel your packaged back account may not have been sold to you correctly, Churchill Sloan could help you check if your account was mis-sold and claim back your money on your behalf.
Over £3.5 million recovered‡
Average refund £1,300 per case‡
Start your Packaged Bank Account claim by calling us on 0800 470 1433. Alternatively, fill in the form and we’ll call you back.
1. Contact Us
Call us on 0800 470 1433 or fill in the form and we’ll call you back to take some further details about your Packaged Bank Account.
2. Return Claim Pack
We’ll send you a claim pack to sign and return. Once we receive your signed claim pack, we can review your claim.
3. Claim Processed
We will challenge your bank if we believe you have been mis-sold. If successful we aim to obtain a full refund of fees paid for your account plus interest.
Could I qualify for a Claim?
You may qualify for a packaged bank account refund if:
you felt pressured to open the account
you were misled or given false information
you were led to believe that you had to upgrade the account to gain access to credit facilities
you weren’t aware of the upgrade until the fee was applied
you were automatically upgraded without your knowledge and/or consentStart Your Claim
Packaged Bank Account FAQs
- What is a packaged bank account?
- Paying a monthly fee for your bank account in return for benefits, most often bundled insurance policies such as mobile phone insurance, travel insurance and breakdown cover.
- If you've chosen one based on a rational decision, it's probably a good account as they can be the cheapest way to get many types of insurance.
- However, if you were mis-sold, you may be entitled to claim your money back.
- Different banks offer their very own set of packaged accounts, each with different names, such as GOLD, PREMIER, REWARD, ADVANTAGE etc.
- The levels of insurance differ dependent on the cost of the accounts, which range from £5 all the way to £25 per month.
- Is my packaged bank account right for me?
- Firstly, if you do not need any of the insurances provided, then you may not need a packaged bank account and it may be worth considering downgrading your account to a basic account.
- If you feel you could get the same insurances cheaper elsewhere, again you may want to consider whether a packaged account is right for you.
- Have I been mis-sold?
There are many reasons why your Packaged Bank Account (PBA) may have been mis-sold to you. If you were:
- told or led to believe that you had to upgrade in order to obtain credit such as a loan, credit card, mortgage, overdraft or to improve your overdraft.
- told that upgrading to a PBA would improve your credit score or give you a better chance of obtaining credit in the future.
- never given the option to start or continue on a free account.
- felt forced into upgrading to a PBA.
- not given important information about the accounts benefits. For example, the policy details of any insurances associated with the account.
- mis-advised or not advised of the cost of the account or led to believe that the account was free because you were a valued customer.
- not aware that you had a PBA until the fee was applied.
- automatically upgraded without your knowledge.
- not assessed or do not recall being assessed for your suitability to the accounts benefits.
- told you had to keep the account even though you enquired about cancelling it.
If any of the above sound familiar, then you may well have been mis-sold your Packaged bank account and we would be very keen to speak with you to see if we could help you reclaim a refund!
- How much will I get back?
- We aim to recover the full cost of any monthly premiums you have paid, plus any interest. As an example, if you had paid £15 per month for 3 years, you would have paid £540 overall; we would aim to recover that, along with interest.
- Why do I get Interest?
- If your claim is successful and your bank agrees to refund the monthly premiums you have paid, we will aim to get an additional 8% (simple) interest this is to compensate you for potential investment loss, in other words if the premiums hadn’t been taken and you had invested them.
- What will happen to my account and benefits?
- If you still have a packaged account when you make your claim and your complaint is successful, it is possible that your account will be downgraded to a fee-free account.
- In this case the insurance and non-insurance benefits would be removed from the account. (you may have to consider purchasing separate insurances if they are needed).
- The packaged account may not always be downgraded, you may have to make the decision as to whether or not you wish to remain on a fee-paying account.
- The bank account provider has an obligation to treat all its customers fairly. Making this complaint will not affect your relationship with the bank, nor will it affect your credit rating.
- If you hold an overdraft with this account, your provider may cancel the overdraft and/or remove any preferential rates.
About Churchill Sloan
Churchill Sloan is a Claims Management Company who handles complaints about banks for the potential mis-selling of Packaged Bank Accounts. We continually strive to provide the best level of service to our clients.
Churchill Sloan is a member of the Professional Financial Claims Association (PFCA). Click here to read the PFCA Code of Practice.