PBA, short for packaged bank accounts, is an account primarily made for allowing you to enjoy various benefits, such as mobile phone insurance, vehicle breakdown cover and travel insurance.

However, over the years the situation has changed and many people today state they didn’t want to open a PBA but were mis-sold and now they have to pay a monthly fee.

And we all know monthly fees are especially harmful if we don’t even know what we’re paying for.

The good thing is, if you really were mis-sold and you no longer want to pay for the account, you may have the right to file a PBA claim and to get that money back.

Let’s be real, the amount is not that small, so it’s worth giving it a try.

If you’re now ready to see how it can be done and you want to put in some effort and get what you deserve, we’ll walk you through the process.

Mis-selling packaged bank accounts

These types of accounts, just like Payment protection insurance, are known for being mis-sold by banks. Some of the most common situations when that happens include:

You were told you need PBA to get some other product. To get a loan or a mortgage, or any other bank product, the employee told you you need to sign up for a packaged bank account.

This is completely untrue and if this has happened to you, you were mis-sold PBA.

The employee misled you into taking out the account. This means he or she told you it’s a privilege to get this account without explaining anything more to you, or they wouldn’t take no for an answer.

Misleading refers also to a situation if you were informed you would get discounts if you take a PBA. Everything listed is wrong and if you have experienced any of it, you were also mis-sold the account.

Other examples of mis-selling this kind of account include situations if you already had insurance cover, but were not told and informed about it and the employee still decided to sell you the PBA.

Finally, increasing the account fee without warning you or telling you that having a PBA would improve your credit score are also red flags, and these examples also mean you were mis-sold.

So, if you have established you really do fit into the category of mis-sold people, it’s time to find out how to file a claim.

Read More: How to avoid closing my business due to bankruptcy

Claiming packaged bank account fees

The first step is contacting your bank.

If you think you won’t make it or you simply find the procedure way too complicated, you can always get in touch with an expert, such as a solicitor, to walk you through and help you get the result you want.

To stand a chance of your claim being accepted, you need to attach your account number, explain the reasons why you think you were mis-sold, name a date you took out the product and attach copies of your statements in your claim.

If you do it right, the bank may accept your claim and you could get a full refund!

If this doesn’t happen, you can always keep working with your solicitor on the upcoming steps to get what you deserve.

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