Packaged Bank Accounts (PBA)
Thousands of people in the UK have fallen victim to the mis-selling of Packaged Bank Accounts (PBA).
A Packaged Bank Account (PBA) is a bank account that offers various benefits, such as car breakdown cover, mobile phone insurance and travel insurance, in return for a monthly fee. Many bank customers were pressured into taking out a PBA even if it was unsuitable, unnecessary or unwanted. It’s thought that as many as 1 in 3 people in the UK today are due a PBA refund – could you be one of them?
To find out if you could be eligible for a Packaged Bank Account payout, simply fill out our quick and easy form below…
Read the answers to some of our most asked questions below.
Packaged Bank Accounts (also known as Added Value Accounts or Premium Accounts) are current accounts that have a set monthly charge for additional benefits such as mobile phone insurance, car breakdown cover, gadget insurance and extended warranties. The account fees vary in price from around £6 to £35.
In most instances, people who have a PBA will have been sold the account either over the phone, on the internet or in their high-street branch. However, on some occasions, bank accounts have been upgraded to a PBA without the client’s knowledge. To find out if you have a PBA, check your bank statement for a set amount leaving your account on a monthly basis.