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Packaged Bank Accounts (PBA) are the ‘marmite of banking’ according to consumer champion Martin Lewis, so is your fee-paying account right for you? It is estimated that over 9 million of these accounts are currently open in the UK, but tens of thousands have complained over the way they were sold.
8 August 2017

Packaged Bank Accounts (PBA) are the ‘marmite of banking’ according to consumer champion Martin Lewis, so is your fee-paying account right for you?

It is estimated that over 9... Read more

Motor giants the AA and the RAC have set aside millions of pounds to compensate customers who may have been paying for their cover twice due to having Packaged Bank Accounts (PBAs). An estimated 25,000 people could be affected by the discovery which happened during an IT systems update at the AA.
13 June 2017

Motor giants the AA and the RAC have set aside millions of pounds to compensate customers who may have been paying for their cover twice due to having Packaged Bank Accounts (PBAs).

An estimated 25,000 people could be affected by the discovery which happened during an IT systems update at the AA.

Some Lloyds and... Read more

A whistleblower has told the Financial Mail on Sunday that Lloyds used ‘shocking’ tactics to sell Packaged Bank Accounts to some of their customers. The unnamed source speaks of a culture ‘obsessed with targets and profit’, and says that certain vulnerable groups of customers were targeted to be sold a fee-paying bank account.
30 August 2016

A whistleblower has told the Financial Mail on Sunday that Lloyds used ‘shocking’ tactics to sell Packaged Bank Accounts to some of their customers.

The unnamed source speaks of a culture ‘obsessed with targets and profit... Read more

Why claiming compensation for your mis-sold packaged bank account is the right thing to do
21 June 2016

Customers looking to claim compensation having been mis-sold a Packaged Bank Account (PBA) have been defended by a senior finance journalist.

Writing for This is Money, Simon Lambert said that claiming back money for a mis-sold PBA did not add to Britain’s ‘compensation culture’.

PBAs are accounts with annual or monthly fees attached to them, offering benefits such as travel insurance and motor... Read more

Concerns grow over suitability of travel insurance sold with Packaged Bank Accounts
24 May 2016

Concerns have been raised over the suitability of travel insurance which is sold as part of Packaged Bank Accounts (PBAs).

PBAs are bank accounts that charge a monthly or annual fee, and in return offer a range of features such as travel insurance, mobile phone cover or preferential rates on products such as loans.

However... Read more