Packaged bank account claims

Considering packaged bank account claims?

In this article we look at common questions about mis-sold packaged bank accounts.

What is a packaged bank account?

It is a regular bank account (i.e. one of the normal high street bank accounts) bundled with various insurance products (for example ). A key factor is that there is a monthly premium charged to have access to these perceived benefits. That it is why it is know as a ‘packaged’ bank account. These are also know as ‘PBA accounts’.


The clue is often in the account name

These accounts had fancy names like ‘premium’, ‘reward’, ‘plus’ or ‘gold’.

Why is a packaged bank account mis sold?

If you were sold insurance, the rules mean banks need to check the cover is suitable. However, in the large majority of cases the banks did not do this.

The key is what you were told (or often NOT told) at the point of sale or upgrade. The bottom line is that the banks should have taken the responsibility and made explicit if the insurance was suitable to your needs and requirements.

How many people were affected?

The most recent research figures show that about 10 million UK adults were affected. You could be one of them!

Did you take out one of these products?

Most people who were missold packaged bank accounts commonly took out the following products:

  • travel insurance
  • mobile phone insurance
  • car breakdown cover
  • airport lounge access.


What banks missold packaged bank accounts (PBA accounts)?

Some (not all) of them are the below:

  • Barclays
  • Halifax
  • HSBC
  • Santander
  • Natwest
  • Bank of Scotland
  • Clydesdale Bank
  • Lloyds