Current bank account complaints increase as the packages offered fail to deliver to customers

07 October 2014 - Which Way To Pay

    



Information on the current issues arising with Banks charging unnecessary fees on certain Bank accounts

Packaged accounts being offered by high street banks such as Lloyds and NatWest are establishing that they are offering extra benefits such as Mobile phone insurances , Holiday insurances and many more. Many Bank Account holders are unhappy with the monthly fees being payed for these particular extras that are actually not being fulfilled .

The volume of Dissatisfied account holders , have prompted the ombudsman to apply a complaint process for these' packaged' bank accounts to be investigated.

There is a estimate of 62 million live bank accounts within the UK , which on average 14% are tied into the 'packaged' Bank accounts. These fees can range from as little as 6 up to 25 per month on each individual Bank account.

Tips for when dealing with 'Packaged' Bank Accounts

  • Always make sure that when being offered a packaged Bank account , the benefits being sold to you are adequate for your personal requirements
  • If you feel as a client that you have been miss sold a package that you feel will be of no use , contact your Bank Account Provider
  • Always check that the agreed monthly fee for the particular package you have choose is the amount being paid each month

Choosing the right Extras for your Bank account

Since all the latest dispute over the extras being added on to 'Packaged' Bank Accounts , Some banks such as Barclays have now 'scrapped' there fixed bundle packages , in favour to a new tailored approach. This allows there Bank Account holders to select which extras will benefit their personal requirements for the particular Bank Account they hold.

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