Packaged Bank Accounts

Packaged Bank Accounts

We all know about PPI but what is a Packaged Bank Account?

A packaged bank account is a bank account where the Bank has added various products such as mobile phone cover, car breakdown cover and/or travel insurance and bundled them together to sell to you for an additional set monthly fee, typically between £12 to £25 per month.

If you were ‘promoted’ by your bank to one of these Fee Based, ’Premium’ Bank Accounts or when you applied for an account the bank employee never offered you a free bank account that didn’t have these ‘packaged benefits added on, we can claim your money back plus 8% interest. This is because like PPI, bank staff were often incentivised to sign clients up to these accounts as they made the bank more money.

Call CPS on 0845 602 6421 or 01625 536 777 for advice or to have a claim pack sent to you.Agents are available until 8pm.