A Packaged Bank Account (PBA) is a current account with a bank or building society that includes added benefits, for which you pay a monthly fee. Example benefits include holiday insurance, mobile phone insurance, breakdown cover or access to preferential loan rates.
These accounts were sold by most building societies and high street banks from the 1990s to the present day, and given names such as “Gold”, “Advantage” and “Premier”; leaving the customer with the impression that the accounts were superior to the free standard accounts.
For many people the package of benefits included in the account was irrelevant to the individual and poor value for money – and therefore we may be able to claim back the money you paid for your PBA.
Packaged Bank Account FAQs
If you've got a question about the PBAs claims process, you may find the answer here in the Frequently Asked Questions: