Packaged bank accounts - Mis-sold package bank account

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Lets you know when to escalate your complaint

If you’re not satisfied with the initial response from the organisation you have an issue with, our escalation process will let you know when you can raise your complaint to the next level of seniority and, ultimately to an ombudsman or regulator, where appropriate.

If you were sold insurance products, including those as part of a packaged bank account, the bank should have ensured that the product was suitable for you. You should determine what you were told – or not told – when you were sold the product.

You should know

  • Banks might not respond to your Resolver account because they will want to confirm your identity
  • Resolver will remind you when it is time to escalate your case to the Financial Ombudsman Service
  • Record all communications from your bank or building society in your Resolver account, and upload any documents
  • If the issue is not resolved, you will have a complete case file to send to the Financial Ombudsman Service.

If you have a packaged bank account and think you have been mis-sold, you can submit your claim via Resolver. Once your email has been submitted the bank has eight weeks to resolve your issue; resolver will then remind you to escalate your case.

The bank might not respond directly to your Resolver account, but you can record your phone calls and upload any supporting documents into your Resolver case file.

How much will you get back?

If you have been mis-sold, you will receive back your fees back plus interest. The Financial Ombudsman Services calculates interest at 8% per annum. As this is an income, be aware that you should report any interest to HMRC.

The interest is calculated at 8% per annum, but is not compound interest: that means you will not receive interest on the interest.

How your case will be assessed

When is your case is assessed, it will be looked at from the perspective of what is considered to be fair and reasonable. This is the assessment that will be used by the Financial Ombudsman Service if your case is rejected by the bank.

What if your case is rejected?

If your bank rejects your claim, do not worry: after eight weeks resolver will remind you to escalate your case to the Financial Ombudsman Service.

Role of the Financial Ombudsman Service

The Financial Ombudsman Service is there to independently assess your case: it will be assessed on what is considered fair and reasonable. This service is free of charge.

The ombudsman will look at every case on an individual basis to determine whether the claim is eligible.

How far back can I claim?

There is no time limit on how far back you can claim, but in England and Wales the statute of limitation is six years, while in Scotland it is five years. The further back you go, the harder it is complain.

What if I sign up online or in branch?

Whether you signed up online or in branch, there is no difference to how your case will be handled.

Claimed on the insurance – can I complain?

If you have made a claim on your insurance policy, you might still be able to make a complaint. If the packaged account did not cover you for the main reason that you bought it, you can still make a claim.

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Helping you with Mis-sold package bank account

Resolver covers the issue Mis Sold Package Bank Account for 37 companies and organisations: