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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
Have you ever thought about what would happen if the bank or building society that you were holding your life savings with suddenly went out of business?
What would happen to those savings? Would you get your money back? And how?
Since 2001 the Financial Services Compensation Scheme (FSCS) has been there for this very eventuality, recovering large sums of money for people... Read more
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