Packaged Account Fees

[di30]

Re: Packaged Account Fees

Hi di - I have a massI've folder of historical terms - will dig them out see if there's anything relevant for youand scan it up - probably be tomorrow morning as out all day today - er did scam quite a lot in during thé test case - ad I recall there was a dedicated forum for banks terms in VIP - my phone is a bit pants so can't hunt fir them now but will have scouts about later on xx and correct t atrocious typing too lol xx

That will be fab!! thank you Ame, and yeah that's good, when your ready hun, thank you, i am very grateful! xx

[Amethyst]

Re: Packaged Account Fees

I have the folder out and it is only really the stuff the OFT used in the test case (so terms current at that time grrrrr)

Lloyds wise I have copies of

Personal Banking Terms and Conditions November 2007

Leaflet Avoid Slipping into the Red ( Nov 2007 )

Personal Banking Overdraft rates and charges November 2007

Banking Charges leaflet (again Nov 2007)



If anything might be useful to you tell me and I'll scan it in.

[di30]

Re: Packaged Account Fees

I have the folder out and it is only really the stuff the OFT used in the test case (so terms current at that time grrrrr)

Lloyds wise I have copies of

Personal Banking Terms and Conditions November 2007

Leaflet Avoid Slipping into the Red ( Nov 2007 )

Personal Banking Overdraft rates and charges November 2007

Banking Charges leaflet (again Nov 2007)



If anything might be useful to you tell me and I'll scan it in.

Ooh thank you Ame.

I am grateful for the info you have Ame, in regards of the O/D Rates & Charges Nov 2007
Terms and Conds.

All you posted above may be beneficial for me, as long as its not too much for you Ame. It all looks interesting lol.

A BIG thank you Xx

[Amethyst]

Re: Packaged Account Fees

Attaching bits individually . Sorry I'm still learning how to use my Ms surface tablet thing xx

[Amethyst]

Re: Packaged Account Fees

More xxx

[Amethyst]

Re: Packaged Account Fees

And more ... couple more to go xx. I might download these on my pc and print to pdf the right way make it easier ... I just can't figure out how to do it off this thing.

[Amethyst]

Re: Packaged Account Fees

That's those for now ... have a quick look and of they are useful I'll sort them out properly for U xx Propably focus a bit better, or even post them to you as I don't have a scanner at the moment ( I blew it up) so have to rely on dodgy photographs lol.

[di30]

Re: Packaged Account Fees

Brilliant thank you Ame!

[di30]

Re: Packaged Account Fees

Now in 2007 when the bank upgraded our account, we previously fell into difficulties due to job losses etc,. and were already in the platinum overdraft, there was still so much overdraft left available when they upgraded us to Premier.
Now sure as they were aware of this, should the bank have upgraded us?

How was we to benefit on what they say the Preferential O/D rate if we never left so much in the account each month?? it finally went to collections then the account closed where at first the interest was still growing, until again we complained to the FOS where it was resolved by them - by them recommended the bank to freeze the account.

Surely if there was an outstanding overdraft, would being sold an upgrade package account have been beneficial, as we never used any of the benefits either?

What do you think?

Thanks again.

[Curiousred]

Re: Packaged Account Fees

Hello Di

I think you may be over thinking this. As I understand your case, the FOS have upheld the complaint that you were mis-sold the PBA. The bank are now attempting to knock off the overdraft "savings" from the settlement figure. I'm not sure entering a fact finding death spiral with the bank is the way forward.

The point is you were overdrawn as a consequence of having to pay for your mis-sold PBA. For example, think of someone who has paid £150 a year for a PBA for 5 years but carried a £500 overdraft throughout. If they had not forked out the £750 for the PBA, they'd have been £250 in credit instead.

Therefore, your claim should be for the following:

1. The costs of the PBA.
2. The interest and fees for being overdrawn to pay for the PBA.
3. The loss of credit balance interest (if your account pays interest when in the black).
4. Statutory interest at 8%.

If you had a personal loan during the period and the bank says you received a discount as a consequence of the PBA, ask them to prove that the discount was greater than the branch manager's discretionary discount powers. It never is.

By the way, I'm just sending my claim to the FOS. How long has the FOS taken to get this far for you? ie: when did you send it to the FOS?

Good luck.

[di30]

Re: Packaged Account Fees

Hello Di

I think you may be over thinking this. As I understand your case, the FOS have upheld the complaint that you were mis-sold the PBA. The bank are now attempting to knock off the overdraft "savings" from the settlement figure. I'm not sure entering a fact finding death spiral with the bank is the way forward.

The point is you were overdrawn as a consequence of having to pay for your mis-sold PBA. For example, think of someone who has paid £150 a year for a PBA for 5 years but carried a £500 overdraft throughout. If they had not forked out the £750 for the PBA, they'd have been £250 in credit instead.

Therefore, your claim should be for the following:

1. The costs of the PBA.
2. The interest and fees for being overdrawn to pay for the PBA.
3. The loss of credit balance interest (if your account pays interest when in the black).
4. Statutory interest at 8%.

If you had a personal loan during the period and the bank says you received a discount as a consequence of the PBA, ask them to prove that the discount was greater than the branch manager's discretionary discount powers. It never is.

By the way, I'm just sending my claim to the FOS. How long has the FOS taken to get this far for you? ie: when did you send it to the FOS?

Good luck.

Thank you for all your fantastic advice/info

Yes it makes sense what you say and yep we did have a loan at that time too.

Number 2: we paid more than just the £25 for the monthly charge (premier) as other charges applied on top as well, excessive charges/interest etc, so it worked out we were paying approx £94 a month for the account (is that what you mean) lol. (PPI is my thing, certainly not this type though) lol.

It was roughly Oct/Nov last year we first made the complaint to the FOS and this been ongoing with the adjudicator for a few months now (lloyds always requesting for extra time) etc.

I wish you luck with yours, fingers crossed.

[di30]

Re: Packaged Account Fees

I said to the adjudicator about the loans, if Lloyds could prove any discount rate etc in regards of the loans, and the adjudicator got back and said........

Dear Mr and Mrs

Thank you for your email.

Packaged accounts often provide a preferential interest rates on loan repayments. Therefore I will also need to assess how much you benefitted from this aspect of the packaged account. I will be able to ask Lloyds to provide any information relating to this.

I hope this answers all your questions.

Yours sincerely


Adjudicator
Financial Ombudsman Service

[EXC]

Re: Packaged Account Fees

Nice one.

[di30]

Re: Packaged Account Fees

LOL thanks EXC.

I cannot remember if we did not or not though, but as Curiousred says above, they never do. Wonder if this will have the bank stumped? lol

[di30]

Re: Packaged Account Fees

I think the bank then could literally say that about all customers benefitting from discount rates (on customers who have complained), despite the fact if the products been mis sold or not, or that not ALL products were needed etc......

They just want to stall, if this was the case then why is it only NOW months down the line they say this and nothing mentioned on the rejection letter from the bank when I complained....

Also reading up on some from the FOS website...
http://www.financial-ombudsman.org.u...-accounts.html