Reward bank accounts mis-sold?

jarrod248

LE
Gallery Guru
#1
Most displeased that my Santander reward bank account has been changed and I wondered why.
Packaged account mis-selling victims can claim - Money Saving Expert
I didn't use the breakdown cover as it's free with my car, sweet I can have all the money back.

What are you due?
The Ombudsman says where an account has been inappropriately sold, consumers are entitled to all the cash they've paid for the account back, even if they are eligible for one or more of the insurance policies.
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.
An Ombudsman spokeswoman says: "If a consumer feels they did not know they had a packaged account or was not suitable for it, they should raise a complaint."
 
#2
Cheers J I'll look into that :)
 
#4
This is an interesting one, I was sold the natwest gold acc about 3years ago. I think I have used the "benefits" that come with it twice.

I have asked them before about downgrading the acc but they always say that its the best one for me.

They also raised the monthly cost of it recently, without giving me the option to opt out.

Im not too worried about paying £15 a month, but if I could get a few hundred quid back.... that would be well worthwhile.

Any legal eagles think I would be eligible?
 
#5
This is an interesting one, I was sold the natwest gold acc about 3years ago. I think I have used the "benefits" that come with it twice.

I have asked them before about downgrading the acc but they always say that its the best one for me.

They also raised the monthly cost of it recently, without giving me the option to opt out.

Im not too worried about paying £15 a month, but if I could get a few hundred quid back.... that would be well worthwhile.

Any legal eagles think I would be eligible?
All the info is in the link.
I have a Nat West gold account and have used more than one of their benefits several times, the holiday insurance being the main one.
Having and using the benefits doesn't mean you weren't miss sold it in the first place.
 
#6
All the info is in the link.
I have a Nat West gold account and have used more than one of their benefits several times, the holiday insurance being the main one.
Having and using the benefits doesn't mean you weren't miss sold it in the first place.

That was what I was unsure about. Call me naive, but im just unsure of what would constitute miss-selling.

The first time I attempted to use one of the benefits, (the break down cover) Greenflag informed me they would only attend/recover if you were within 12miles of your address. Any further and you had to pay.

Which prompted me to join the RAC.

Now I guess info like that is in the small print, but being a dense teenager when I took out the account, when your told you have free breakdown cover, and your not told of any provisos, you tend to take it at face value.
 

jarrod248

LE
Gallery Guru
#7
I have used the holiday insurance and also Airport Angel just once. I've had the account three years at a cost of £20 a month with Santander.
 
#8
Not just who feels like we've not had our moneys worth then?

To correct what I said earlier ive had this acc for nearly 5 years. Aside from the breakdown incident all I've used was the phone insurance, once. And I had to pay a £50 excess then.

I guess the question is, can you push the principle that you've been miss-sold these acc's, purely by the fact that you have been sold services which might, only might, occasionally benefit you?

Quick working out, I've paid in excess of £700, for services that have never really been utilised.
 

jarrod248

LE
Gallery Guru
#9
Not just who feels like we've not had our moneys worth then?

To correct what I said earlier ive had this acc for nearly 5 years. Aside from the breakdown incident all I've used was the phone insurance, once. And I had to pay a £50 excess then.

I guess the question is, can you push the principle that you've been miss-sold these acc's, purely by the fact that you have been sold services which might, only might, occasionally benefit you?

Quick working out, I've paid in excess of £700, for services that have never really been utilised.
If you couldn't use what was on offer then clearly you've been mis-sold it. If you wanted a car and a dealer sold you a car a van and a truck you'd be a bit pissed off about it, wouldn't you?
 
#14
Saw a mate last night who is a manager with Natwest, hes told me that standard practice is to **** you off after your first letter and then offer you a token sum after the second letter.

The key word is ombudsman, as it apparently costs them £250 off the bat everytime he gets in touch.

Think I will look for some letter templates this afternoon.
 
#16
Jesus..... does this mean the PPI reptiles have ANOTHER ****ing excuse to ring me daily for the rest of my life?
Don't know, but if you give us your bank details and phone number....
 
#17
Letter handed in to branch yesterday evening, this is the message received today:

Thank you for taking the time to contact us and we are sorry that you are unhappy with the service you have received. Your issue will be fully investigated and we will provide you with a response within the next few days, or advise you of next steps and case handler details. We will also acknowledge receipt by letter if we haven't been able to provide a resolution in 5 working days. We may call you to progress your recent complaint, please note that this call may display as a blocked or withheld number. If you miss the call, we can be contacted on 0845 6072323. Our line is open from 8am - 6pm Mon-Fri. Thank you. Your reference is
 
#18
If you don't ask, you don't get.

HSBC were lovely, and I have just asked Nationwide for a bit of my pennies back.
 

The_Duke

LE
Moderator
#19
Bit of selective quoting in the original post, and it is no-where near as cut and dried as Jarrod implies. He missed out this key bit:

"However, if a customer is ineligible for a policy, it won't necessarily be deemed mis-selling if other elements of the package are useful."

If your bundled package of benefits includes some bits that you are eligible for, then there is a strong case for the bank to state that you recieved reasonable benefit from the account whether you chose to use them or not.

You would have to rely on the argument of mis-selling, particularly the cited causes of:

•You were moved to a paid-for account without your consent
•You weren't told of free account alternatives
•A salesman said you were eligible for a particular insurance policy when you weren't
 
#20
If you were aggressively sold out the account , that can also be classed as miss-selling. Or so im told by my bank manager friend. Much harder to prove, but worth a dig.
 

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