Packaged Bank Accounts


Packaged bank accounts are accounts for which you pay a monthly fee, in exchange for a “package” of benefits.  Benefits such as mobile phone insurance, breakdown cover, travel insurance, ID and card loss protection, and ‘advantages’ such as preferential overdraft and loan interest rates.

These accounts have many different names, such as a “reward” or a “gold” or a “premium” or a “select” account.

Many of these accounts were systematically mis-sold to customers, and these customers may be entitled to a refund of the fees they have paid, plus interest on top.

Quite simply, if you have been paying a fee for a packaged bank account, but have never used any of the “benefits” it came with, then you have most likely been mis-sold, and you should get in touch with one of our specialists today.

At Andrew and Andrew we have a dedicated team waiting to help you recover your money.  Our solicitors are fully conversant with Financial Services regulations, and are supported by a CeMAP qualified financial mis-selling specialist and fully trained support staff.  This ensures your claim is dealt with accurately, efficiently and professionally.

If you have not checked to see if you are entitled to a refund, then contact us for a no obligation claim pack.

We will investigate your claim on a no win – no fee basis.  This means we will not ask for any money up-front, and we will cover the costs of the lenders fees for copies of their records and complete all of the investigations.  You will only pay us if you are awarded compensation.

So, you truly have nothing to lose, and potentially money to gain.

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Frequently Asked Questions

We are often asked the same questions by our potential clients, so here are some quick answers for you:

  • What is a Packaged Bank Account?

A packaged bank account is an account for which you pay a monthly fee, in return you are provided with a package of “benefits”, such as mobile phone insurance, breakdown cover, travel insurance, ID and card loss protection, and “advantages” such as preferential overdraft and loan interest rates..

  • How would I have been sold this account?

Packaged accounts were often offered as upgrades to current accounts, sometimes without you even asking.  They were commonly offered alongside applications for loans or overdrafts, with many customers often told they had to upgrade their accounts to gain access to the loan or overdraft they required.  This is of course mis-selling and would mean you are entitled to a refund.

  • I don’t have any paperwork, can I still claim?

Whilst many firms would ask for this information, we do not.  With your authority we can obtain all of this information on your behalf directly from the bank in question, so all we need is their name and your authority, so yes of course we can still help you investigate your refunds.

  • Does this affect my relationship with my bank?

Absolutely not, under the rules of the regulators, the banks cannot treat you any differently because you have made a complaint and received compensation.

  • How far back can you claim?

There are no limits to how far back we can claim.  So get in touch, even if you had your account years ago, we can often still help you recover your money

  • Why shouldn’t I just claim myself?

Of course you can, if you fancy spending some money up-front to recover your files, and then spending often significant amounts of time trawling through paperwork looking for that elusive evidence; then if you even find it; writing detailed claim letters to your bank, and filling out their questionnaires just to start the ball rolling.  If that was not enough, you will then be waiting for their response, furthermore you will need to appeal if they reject your claim and follow the Financial Ombudsman Service dispute process, involving more paperwork, and even more time.

As a firm of lawyers, the banks take us seriously, they will not fob us off, and they know we will not give up.  This is why we believe it is quicker and easier to use our specialists.  Sure you will have to share in the compensation under our no win – no fee agreement, but surely a share of the refund we successfully obtain is better than the whole of nothing because you never found the time to see the process through?

So, are you ready to discuss your compensation?

If so then contact us today – it’s easy!  We have several telephone options for your calling convenience, you can make an enquiry via any of the contact boxes situated throughout our website, or you can contact us by social media networking.