Packaged Bank Accounts is a bank accounts which offers a range of additional benefits, such as breakdown cover, holiday insurance and mobile phone insurance, in some cases even better rates on overdrafts and loans, for a monthly fee, usually between £3 – £25.
Packaged Bank Accounts have been highly profitable for the lenders over the last 30 years and have been used to produce additional income from consumers already using a current account.
In 2012 the FCA launched an investigation and determined consumer must be given the opportunity to make a claim for a full refund of the fee paid, plus statuary interest.
So how do you know if you have a potential claim?
How do you know what to look for?
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