A packaged Bank Account or PBA is an account where the banks provide a current account to you for a fee. In order to justify the fee that they take they bolt on several products that may or may not benefit you in your daily life.
There are millions of these accounts in operation throughout the UK where the sales tactics for promoting them has been investigated and called into question by the regulators the Financial Conduct Authority.
How do I know if I have been mis-sold a packaged bank account?
The banks failed to sell these accounts inappropriately in many ways as in order to sell the PBA account properly they should have assessed if the various bolt on ‘benefits’ were either applicable, not duplicated or relevant to your circumstance. The various areas of mis-selling are as below where if you fall into one or more the account was likely to have been mis-sold.