Can I make a claim?
If you currently pay or have paid a monthly fee for your bank account, it’s likely you’ve had a packaged account (PBA).
These current accounts are now the most complained about the financial product after Payment Protection Insurance (PPI).
Most banks sell packaged bank accounts on a non-advised basis which means they don’t have to assess whether an account meets your specific needs.
But they must still provide clear, fair and unambiguous information so you can make an informed decision. Mis-selling occurs when a bank fails to do this.
If your bank account has benefits that you’re likely to use, you could actually save yourself money but most don’t so they are not worth having as most home content insurance policies provide cover for your gadgets for less
But just because some of the account benefits may be unappealing or have gone unused doesn’t automatically mean mis-selling has taken place.
As long as the bank gave you clear information about the account features and any significant exclusions, it was up to you to decide whether paying a fee for the account was worthwhile.
Even if you haven’t been mis-sold your packaged account, you should be able to change your mind and revert back to a standard account if you’re not using the benefits associated with your packaged account.