“Your money back is no longer accepting new Packaged Bank Account complaints. However if we are or have dealt with your PPI complaints and you have told us that you have or do pay a monthly fee for your bank account then we will be in touch shortly”


Do you pay a monthly fee for your bank account?

If the answer is yes, do you know why you pay a monthly fee? Or what you get for the monthly cost?

A Packaged Bank Account is a current account that you pay a monthly fee for in exchange for a range of benefits which usually include Breakdown Cover, Travel Insurance and Mobile Phone Cover.

These accounts can be good value for money! – As long as you know what you are paying for and you understand the benefits.

However like PPI, Packaged Bank Accounts make a profit for the banks and advisors are encouraged to sell them to you and there are a growing number of examples in the UK where people are paying for a bank account without seeing the full benefit and some people don’t even know they are paying for one!

So how could you have been mis-sold?

  • Sometimes your bank may have upgraded your free account to a paid for account without prior consent, if this happened to you, you may have been mis-sold.
  • If you applied for another product like a Loan, Credit Card, Mortgage or Overdraft and were made to feel like a Packaged Bank Account was a condition of being accepted, it is likely you were mis-sold.
  • If you opened a new account with a bank and they didn’t give you the option of a fee free account, you could have been mis-sold.
  • If you have tried to make a claim using the benefits of the account only to find that they did not meet your expectations – for example you couldn’t claim on a lost or stolen phone because you hadn’t registered, but you weren’t told you had to – then you were probably mis-sold.


If we can prove that your bank mis-sold your account to you, the bank will provide a refund of the fees that you have paid plus compensation for having mis-sold the account to you.