Packaged Account Fees

[FlySi]

Re: Packaged Account Fees

@Bill-K Thanks for the feedback. I am in agreement that the history of packaged accounts needs to be documented somehow. I've read that Lloyds were one of the first to introduce packaged accounts around 1997 (which would make sense - Labour entered office and the process of deregulation accelerated).

I also agree that given the Ombudsman's reported comments on the issue all fees should be repaid (if using the PPI rules as a template). One reason why I'm interested is that I had a Select account by 2001 (£4 per month, then £5 per month) and I don't know why - I didn't have driver's licence, let alone a car so breakdown cover wasn't necessary, and I didn't have a mobile phone.

Hopefully enough people in the country will have kept forms, booklets and statements etc. and may be in a position to share.

[Bill-K]

Re: Packaged Account Fees

I want to add to this thread that it is unlikely that the WHOLE of those fees will be refunded but from evidence I have seen the likelihood is 12/24 months worth of fees.

I was aware that you had flagged up Packaged Accounts as another mis-selling scandal some time back, Monsieur L, yet it doesn't seem to have 'hit the headlines' in the same way that PPI did. Well done for getting MSE finally interested in the scam - it does need a bit more public awareness, it seems, and MSE are good at that kinda thing, bless them.

I note your observation that banks are unlikely to offer a full refund of ALL fees - and that is of course the likelihood - but I would like to think that the FOS's pronouncement (according to Mr Anker) can be relied upon, and we can push for the whole lot.

From the Ombudsman's limited experience — it only handled 100 cases last year as the issue only recently came onto the radar — it says some banks only agree to refund a year's worth of payments, but they should refund everything paid.

If we take the FSA PPI Redress Rules as a 'template,' then we may well find ourselves looking into 'Consequential Losses' as well, where accounts have been overdrawn, and interest and penalties have been applied.

Grist to the mill, as they say.

Flysi - I can't answer your questions, but I think the history of Packaged Accounts is well worth documenting. Hopefully, M. Leclerc can give you an idea of NatWest's involvement - and I daresay the other big banks will have jumped on that gravy train at around the same time.

[FlySi]

Re: Packaged Account Fees

Hi all


I'm hoping that some of the people around here may be able to help on this. I'm after details of the packaged bank accounts that Lloyds (and Lloyds TSB) has sold. I know that in the past these have included Select, Silver, Gold, Platinum and Premier but I would like more information:


Does anybody know when Lloyds introduced packaged bank accounts?
Does anybody have any details (such as what they offered, etc.) of these packaged accounts from when they were first introduced, etc. or after?
Is there anywhere to obtain this information that anybody knows of (other than from Lloyds!)


Any help appreciated!
Thanks.

[leclerc]

Re: Accounts with extras: do you have a case to reclaim some of the fees?

I want to add to this thread that it is unlikely that the WHOLE of those fees will be refunded but from evidence I have seen the likelihood is 12/24 months worth of fees.

[leclerc]

Re: Accounts with extras: do you have a case to reclaim some of the fees?

MSE finally jumped onto the wagon with me :o

Packaged account mis-selling victims can claim compensation

[natweststaffmember]

Re: Accounts with extras: do you have a case to reclaim some of the fees?

http://www.fsa.gov.uk/pubs/plan/fina...tlook_2010.pdf
Page 62 for reference but from page 57

[natweststaffmember]

Re: Accounts with extras: do you have a case to reclaim some of the fees?

Below are a list of packaged accounts





BARCLAYS
First Additions



First Additions (Option A)



Additions



Additions (Option A)



Additions Plus (option A)



CO-OPERATIVE BANK
Privilege



Privilege Premier



FIRST TRUST BANK (NI)
Packaged Account



Bonus



HSBC
Bank Account Plus



LLOYDS TSB
Select Plus



Select



Gold Service Plus



Gold Service



Platinum Plus



Platinum Current



NATWEST
Advantage Gold



Advantage Private



NORTHERN BANK (NI)
Northern Choice Plus



ROYAL BANK OF SCOTLAND
Royalties



Royalties Gold



Royalties Premier



SMILE
Smilemore



ULSTER BANK (NI)
ufirst Current



ufirst Gold



YORKSHIRE BANK
C/A Plus Private Offset